F1 mogul Bernie Ecclestone’s ex-wife set up family office to manage divorce riches

Slavica Malic created a company to manage the fortune obtained from Formula One. (Getty Images)

The ex wife of the multimillionaire of the Formula One, Bernie Ecclestone He created a company to manage the fortune he obtained from one of the largest motorsport brands in the world, becoming the latest “super rich” woman to take more control of her assets.

Last year a company was created with the initials of Slavica Malic as the family office of the 65-year-old former model, according to records. Malik received one of the largest divorce settlements in Britain in 2009, after more than two decades of marriage to the racing executive.

The veteran of HSBC Holdings Plc Fredrik Nerbrand recently joined the company based in London as chief investment officer, according to people with knowledge of the matter, who asked not to be identified discussing private information.

Malic received one of the biggest divorce settlements in Britain in 2009, after splitting from Ecclestone. (Europa Press)

The firm, which changed its name at the end of 2023 to Elm Coveis also supervised by Stefan LeMarquanda trust manager based in London in financial services company Highvern. A representative of Malik – who received more than $881 million from their divorce settlement – declined to comment.

Malikborn in Croatiabecame an important part of the how Ecclestone managed his fortune, which grew rapidly during his marriage after the former executive director of the Formula One sold stakes to investors such as private equity giant CVC Capital Partners Plc.

Malikwho met Eccleston in it 1982 Italian Grand Prix at Monza, helped oversee a family trust that the businessman, now 93, created that a decade ago had assets worth about $5 billion. The couple’s daughters, Tamara39 years old, and petra35, also acted as trustees.

Ecclestonwho controlled the Formula 1 since the 1970s, stepped down as CEO in 2017, after Liberty Media Corp. of John Malone will buy the car racing series CVC for about 4.4 billion dollars.

Malic played a significant role in managing Ecclestone’s fortune, which grew considerably during their marriage. (EFE/EPA/Dominik Angerer)

Then, Eccleston and Malik They had divorced because of his unreasonable behavior. She later lost an attempt to keep the financial details of the separation secret from tax authorities. Britain as part of an investigation that was resolved in 2023.

Other women among the world’s super-rich – including Oprah Winfreythe Chinese real estate magnate Wu Yajun and the Canadian heiress Alannah Weston– created their own family offices as their careers or personal situations evolved.

In Western Europethe women investors They controlled about a third of the assets under management in the region at the beginning of the decade, and that figure is expected to increase rapidly between now and 2030, according to a study by McKinsey.

According to him Index Bloomberg of Billionairesamong the 500 richest people in the world there are 66 women, 18 of them in Europe. The heir of L’Oréal SAthe French Francoise Bettencourt Meyersbecame last year the first woman whose fortune exceeded 100 billion dollars.

©2024 Bloomberg

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