We explore the net worth and career of Mansour Ojjeh, a former co-owner of McLaren, as news of his death breaks this June.
A statement read: “It is with deep sadness that McLaren Racing announces the death of Mansour Ojjeh, shareholder of McLaren since 1984. Mr Ojjeh passed away peacefully this morning in Geneva, aged 68, surrounded by his family, to whom the team sends its most heartfelt condolences.”
- F1: Do drivers spray champagne at Azerbaijan GP?
Mansour Ojjeh: Net worth in 2021
- $3.2 billion
Mansour Ojjeh’s net worth at the time of his death was reportedly $3.2 billion.
The French and Saudi Arabian businessman’s fortune largely came from his role as CEO of Techniques d’Avant Garde (TAG). Mansour’s father, Akram Ojjeh, founded TAG in 1977. TAG is an investment company focussed on advanced technologies. The firm also brokers deals between Saudi Arabia and France, notably defence systems and weapons.
- TRENDING: F1 confirms legendary circuit to remain on calendar after Honda deal
Mansour Ojjeh and the McLaren Group
Mansour Ojjeh first became involved in Formula One in 1979, when the TAG Group sponsored Williams. In 1984, he jumped ship to McLaren, after being enticed by Ron Dennis.
Ron Dennis and Mansour Ojjeh remained close friends, and it is through Ron that Mansour landed shares in the group.
After Ron Dennis’ controversial exit from McLaren, Mansour bought some of his shares.
The TAG Group own just over 14% of McLaren’s parent company and has been an important figure in the expansion of the team. This is the second-largest share, behind Bahrain’s Mumtalakat Holding Company.
- READ NEXT: More about Mansour Ojjeh’s life and career