Belgium's richest dies: Albert Frère is no more
Albert Frère, believed to be the richest Belgian, has died at the age of 92. It was his holding company, the Group Brussels Lambert (GBL) that broke the news.
Albert Frère is Belgium's most important industrialist of the post War era. After the war he invested in steel becoming the leading figure in the country's industrial and financial sectors. The GBL is active in energy, heavy industry and financial services. A Walloon entrepreneur he became one of the most influential businesspeople in Belgium and France. Frère’s adage was: "Buy cheap, sell dear!"
It was in 2015 at the age of 89 that M Frère called it a day handing over the leadership of his holding to his son-in-law Ian Galliene, who now plays a leading role in the Frère Empire. The Frère Family is believed to be worth 6.2 billion euros. On the list of richest Belgians they feature on the fourth spot. According to the US magazine Forbes Albert Frère has been the richest Belgian individual for years now.