John Textor during his presentation at Décines (Photo by OLIVIER CHASSIGNOLE / AFP)
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In the process of buying OL, John Textor remains an enigma for many with a fortune that is difficult to estimate and the support of two other investors, more powerful than him.
After 35 years of reign, Jean-Michel Classes will pass smoothly over the next few months. The president of OL and the board of directors have validated John’s buyout offer Weaver to buy out the shares of Pathé, IDG Capital and Holnest. The exclusive negotiations have yet to come to an end to formalize this new shareholding, but the American will indeed be the next new strongman. Nevertheless, who made his fortune in special effects in cinema remains an enigma for some. While his heritage is estimated at 3 billion, the reality is actually very far.
“It is almost impossible to estimate the fortune of John Textor because his money is distributed through many companies which hold others and so on, Andrew said Abramsonan investment banker interviewed by The Team. If you put together his assets, his current businesses and deduct his debts, his fortune is well under three billion. We are more around 250 million.”
It is therefore very logical that John Weaver surrounded himself with two other partners with Jamie Salter and Wiliam Foley, to whom he contracted a loan via their holding company for the operation of the acquisition of OL. A few weeks ago, the American had reassured everyone while the rumor of an LBO hovered in the sky of Lyon. “We bring money with Jamie (Salter) and Bill Foley, two friends, Textor had declared to Décines. We invested with our own funds. We have strong backs, we buy these shares with our own capital, this n is not debt.”
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