Published On: Mon, Sep 8th, 2014

Canadian Billionaire Lawrence Stroll Sells Kors Stake to Buy Swiss Formula One Team


Canadian billionaire Lawrence Stroll is reportedly looking to buy the troubled Swiss Formula One racing team, Sauber F1. The fashion tycoon sold his 5.7% stake in Michael Kors, and has sufficient funds to buy Sauber, which recently had to be bailed out in a so-called “Russian rescue deal” in which three Russian companies formed a partnership with Sauber.

55-year old Stroll is the 816th wealthiest man in the world with $2.5 billion, and he owns two of the most expensive cars on the planet, the Ferrari P4 and the Ferrari 275 GTB/4. Apparently, Stroll was mulling over buying CVC Capital, the private equity firm that owns Formula One, but it looks like he might be buying Sauber instead.

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