Tuesday 26 March 2019

John Dorrance III's (74) vast fortunes comes from the sale of his 10.5pc stake in Campbell's Soup. His grandfather created Campbell's formula for condensed soup, and the family is still the company's largest shareholders. At least 11 members of his lineage today collectively own more than 50pc of the global food giant, which generates more than $8bn in annual revenue.

Dorrance, who shuns the limelight, moved to Ireland with his Finnish-born wife from his 18,000-acre ranch in Wyoming in the mid-1990s. He was granted a passport after he invested $1.5m in a tree-planting project. Nicknamed 'Ippy' Dorrance, he owns a home in Dartry in Dublin 6.

His exit from Campbell's was well-timed. For the full year, sales were $7.8bn, a drop of 1pc. But Campbell's Soup shares have fallen 20pc over the past 12 months, on the back of cooling condensed soup sales and a lukewarm outlook for 2018.

Online Editors

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