Together, Ecclestone and his Bambino family trust have made an estimated $4.9bn from dividends and the sale of their shares. Liberty paid $3bn in cash and offered $1.2bn of shares in its Nasdaq tracking stock which has the ticker FWONK. Four years later, Lehman sold its stake to CVC for $209.3m which was less than the loan it provided to Kirch. In 2008, Lehman itself went into Chapter 11 bankruptcy and moved its F1 stake from its bankrupt arm, Lehman Commercial Paper, into LBI Group, a newly formed holding company containing the valuable assets in its portfolio. The sale of Lehman’s FWONK shares has netted $325m which gives it a total return of $1.5bn.

Source: The Guardian September 21, 2017 16:31 UTC