Early Life and Education
Patrick Drahi was born on August 20, 1963, in Casablanca, Morocco, to a Jewish family. His parents were mathematics teachers. At age 15, Drahi moved to France, where he later pursued higher education. He graduated from the École Polytechnique and earned a postgraduate degree from Télécom Paris, specializing in optics and electronics.
Rise to Success
Drahi's career began in the telecommunications industry, and he quickly established himself as a shrewd businessman. He founded Altice in 2001, a holding company that became a key player in acquiring European cable companies. Through Altice, Drahi expanded his reach with significant acquisitions. He acquired SFR, France's second-largest mobile and internet provider, in 2013. Drahi also entered the U.S. market in 2015, purchasing Suddenlink Communications and Cablevision, and expanded his portfolio with the acquisition of Sotheby's in 2019. His business strategy often involved leveraging debt to acquire undervalued assets, followed by aggressive cost-cutting measures.
Key Business Strategies
Drahi is known for his aggressive acquisition strategy, acquiring multiple cable and mobile operators to build Altice into a global conglomerate. His approach has included leveraging debt to finance acquisitions and implementing cost-cutting measures to improve profitability. This strategy has been a key driver in the expansion of his business empire. Drahi has also shown a willingness to diversify his portfolio, as demonstrated by the acquisition of Sotheby's.
Philanthropy
Patrick Drahi, along with his wife Lina, established the Patrick and Lina Drahi Foundation in 2014. The foundation supports various causes, including education, healthcare, and cultural initiatives. The foundation has donated to social programs and science, math, and arts education across Europe, and Drahi has been especially generous to his former schools.
