Early Life
John Dorrance III, also known as "Ippy" Dorrance, was born in either 1943 or 1944 in the United States. He is the grandson of John Thompson Dorrance, the inventor of the condensed soup formula and founder of the Campbell Soup Company. His father, John T. "Jack" Dorrance Jr., was also a successful businessman and the president of Campbell Soup Company. Dorrance spent 15 years living on a ranch in Wyoming before relocating to Dublin, Ireland.
Rise to Success
Dorrance inherited a significant stake in the Campbell Soup Company. He sold a majority of his inherited 10.5% stake in the mid-1990s for approximately $1.5 billion. This move proved to be well-timed, as the stock subsequently declined. Dorrance's decision to renounce his U.S. citizenship and move to Ireland was reportedly made to take advantage of lower tax rates, significantly impacting his financial situation. His wealth is primarily derived from his inheritance of the Campbell's Soup fortune.
Key Business Strategies
Dorrance's primary business strategy has revolved around managing and protecting his inherited wealth. His relocation to Ireland was a strategic financial move. His family's historical control over Campbell Soup, with over a third of the global food giant's shares, further emphasizes his commitment to the company's success.
Philanthropy
Information on John Dorrance III's specific philanthropic endeavors is limited. However, his significant wealth suggests that he is likely involved in philanthropic activities.
