Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Wealth porsche family attempts a comeback

After losing control of the company in 2009, the Porsche family will have another opportunity to gain control. (Photo by Manuel Romano/NurPhoto via Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Sep 8, 2022

Porsche Family Attempts a Comeback

After losing control of its company in 2009, the Porsche family will try to once again gain control of the luxury automotive business through an initial public offering (IPO) later this month.

Key details
Following Porsche’s IPO, the Porsche family will have a 25% share in the company, giving it greater control than it has had in more than a decade. 

The share sale will value Porsche at around $84 billion, almost as much as Volkswagen, the parent company. The IPO is expected sometime around the end of September or beginning of October.

VW will retain majority control, holding on to 75% of the spun-off entity, and 12.5% of voting and non-voting shares will be offered to the public—with a special dividend to those shareholders.

If the IPO is successful, it will be a sentimental and lucrative comeback for the Porsche family, who conceded defeat in its attempt to take control of the company in 2009. At the time, Wolfgang Porsche stated: “the Porsche legend lives and will never perish.”

The families Porsche and Piech have a stake in the company worth around $10.5 billion. 

Why it’s news
Porsche and Volkswagen share common family history. Wolfgang Porsche is the cousin of Ferdinand Piech, the Volkswagen executive who made the company into the success it is today. 

Porsche’s resurgence is a surprising comeback story after the company’s plans to take over Volkswagen backfired in 2009.

In 2005, Porsche began implementing a plan to gradually take over its competitor. However in the economic turmoil of 2009, Volkswagen flipped the script and took over the smaller company. The complicated deal resulted in the Porsche family still maintaining some control over their original car company.

Volkswagen and Porsche will remain closely connected, but the new set up will allow the Porsche family to have more say over strategic decisions in the company. In years past, Porsche has often been forced to follow along with strategic moves that were not in its best interest, such as plans to build electric vehicles, according to Yahoo! Finance.

Home / News / Porsche Family Attempts a Comeback
Share
FacebookTweetEmailLinkedIn

Related Stories

FTX Asks For Donations Back

by Savannah Young Leaders Staff
Cryptocurrency

46 minutes ago

Former FTX CEO Sam Bankman-Fried was the Democrat Party’s second-largest donor and now the company is asking for donations back

Bankrupt crypto exchange FTX is sending requests, seeking the return of political donations.

Key Details

  • Former FTX CEO Sam Bankman-Fried and FTX Digital Markets Co-CEO Ryan Salame were major political donors during the last election. Now, the company is asking for the money back.
  • Bankman-Fried was the Democrat Party’s second-largest donor with $37 million in donations, while Salame was the Republican Party’s 10th-largest donor with around $19 million in donations.
  • FTX faced a very public bankruptcy filing and is now contacting "political figures, political action funds, and other recipients of contributions or other payments” to take back donations.

Go deeper

FacebookTweetEmailLinkedIn

Washington’s Crypto Crackdown

by Savannah Young Leaders Staff
Cryptocurrency

49 minutes ago

After continued downfalls in the cryptocurrency sector, policymakers in Washington, D.C., have turned hostile on crypto, and many fear an oncoming crypto crackdown

After continued downfalls in the cryptocurrency sector, policymakers in Washington, D.C., have turned hostile on crypto, and many fear an oncoming crypto crackdown.

Key Details

  • Cryptocurrencies are very volatile, and between the major falls of different coins last summer and the downfall of FTX, policymakers have turned hostile on crypto.
  • The White House has been declining many different businesses associated with cryptocurrencies suggesting that a crypto crackdown could soon be on the way.
  • The crypto-friendly bank Custodia was denied its request to join the Federal Bank after the company believed it would be accepted. The Fed also warned banks that they will need permission to do anything crypto-related.

Go deeper

FacebookTweetEmailLinkedIn

More EVs Qualify For Credit

by Hannah Bryan Leaders Staff
Public Policy

58 minutes ago

EV tax

More crossover SUVs will qualify for the electric vehicle (EV) tax credit after an announcement from the Biden administration.

Key Details

  • General Motors and Stellantis officials have been lobbying for changes to the EV tax credit issued last year. 
  • While the tax credit was intended to incentivize EV purchases, many popular EV models were excluded from the legislation. 
  • This change came about by redefining what vehicles are considered sport-utility. 
  • The Inflation Reduction Act initially provided a tax credit to SUVs priced above $80,000. Passenger-car customers did not receive a credit if the vehicle cost less than $55,0000. 
  • The change is retroactive to January 1, allowing buyers who already made a purchase to claim the credit.

Go deeper

FacebookTweetEmailLinkedIn
surveillance
Company Culture

2 hours ago

Employee Surveillance Hurts Employers

by Hannah Bryan Leaders Staff
Federal incentives are helping push people to buy electric vehicles (EVs) and boosting battery production in the U.S.
Business

2 hours ago

The U.S. Encourages EV Battery Production

by Savannah Young Leaders Staff
Wood
Markets

2 hours ago

More Predictions From Cathie Wood 

by Tyler Hummel Leaders Staff

Recent Articles

Entrepreneurs

10 hours ago

Here’s a Step by Step Guide on How to Start a Podcast

Eliminate confusion, create a podcast in 15 detailed steps

Wealth

Feb 3, 2023

The Most Landlord-Friendly States in 2023

Invest in landlord-friendly states to make more profits

Productivity

Feb 2, 2023

7 Tips to Stop Procrastinating and Eat the Frog for Enhanced Productivity

Get more done using this mental methodology

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com