Last week, in Germany billionaire Friede Springer sliced her 43%, $3 billion dollar stake in German publishing giant Axel Springer in half. He was named CEO of Axel Springer in January 2002; his pay package for that position has not been disclosed. He also is unlikely to sell Axel Springer shares, as that would undermine the entire point of the succession plan. Or, a ridiculous low amount of gift tax in relation to what he has got now,” he says. A Modern Media EmpireFounded in 1946, Axel Springer is one of the largest publishing houses in Europe, with over 16,000 employees.

Source: Forbes October 09, 2020 09:33 UTC