Richard Sands
$2.5B
Born
Mar 03, 1951
Age
74
Source of Wealth
Liquor
Residence
Delray Beach, Florida
Citizenship
United States
Marital Status
Children
0
Education
Doctorate, University of North Carolina; Bachelor of Arts/Science, University of Vermont
- Richard and Robert Sands' father, Marvin, founded a humble wine business in 1945 at age 21.
- That small operation has ballooned into a publicly traded behemoth now called Constellation Brands, which generates nearly $10 billion in annual revenue.
- The company is known for its relentless streak of acquisitions. Subsidiaries include Robert Mondavi wine and Svedka Vodka.
- Constellation also holds the rights to Grupo Modelo's U.S. beer business, including its Modelo and Corona labels.
- Richard Sands, who joined the company in 1979, was CEO from 1993 to 2007. He served as chairman from 1999 to 2018 and is now a non-management director.
- The family (including niece Abigail Bennett and nephew Zachary Stern) received $1.5 billion (pre-tax) of cash to give up its enhanced voting power in 2022.
- In 2018, Constellation Brands announced a $4 billion investment in Toronto-listed cannabis firm Canopy Growth, in exchange for a 38% stake.
- Richard once worked as a delivery driver during a hiatus from college.
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