The businessman and politician died after a long illness at the age of 78.
French businessman and politician Bernard Tapie, former owner of sports giant Adidas, has died at the age of 78. This is reported by the AFP news agency, citing the statements of the family, Mr. Tapi.
“Dominique Tapie (wife of an entrepreneur) and her children, with endless pain, announce the death of husband and father Bernard Tapie this Sunday, October 3 at 8:40,” the statement reads.
Tapi set up his first business in 1967, specializing mainly in the purchase and recovery of bankrupt companies. In the mid-eighties, the Olympique Marseille football club got into his portfolio, and in 1989 the businessman acquired 80 %s from Adidas, paying about DM 440 million for the package.
In the early nineties, for six months, Tapie served as French Minister of Urban Affairs. Later, the businessman was convicted of abusing assets, and also accused of tax evasion. In addition, the Olympic club that he owned was charged with participation in fixed matches, and Tapi himself was sentenced to two years in prison. In 1995, the businessman was declared bankrupt.
In 2008, a high-profile litigation ended, as a result of which Tapi was awarded compensation in the amount of 400 million euros in the case against Credit Lyonnais, which was involved in the sale of Adidas and underestimated the value of assets. However, in 2013, the case was reviewed in favor of a credit institution. After that, Bernard Tapie announced the ruin. However, in 2019, his fortune was estimated at approximately 200-250 million euros.