Nothing really gets done in France or Belgium these days without Frère being involved somehow. –Forbes, 7/6/98. p.228.
31. Frère, Baron Albert (1926- )
Belgian entrepreneur and financier who is the richest man in Belgium with a net worth valued at $4.8 billion by Forbes (as of May 2015). A high-school dropout who turned his family-owned nail-making company, Frère-Bourgeois, into a giant enterprise which had cornered the Belgian steel market by the 1970’s. Frère has always demonstrated an uncanny sense of business timing. In the early 1980’s, as the world steel industry went into a slump, Frère sold his steel business to the Belgian government, and with the almost $2 billion that he received in return, he was able to buy into prime Belgian and French businesses.