Ion Țiriac transfers business leadership to son

Ion Țiriac, the former tennis player and billionaire, has announced a transition in the management of his business empire to his son, Alexandru Ion Țiriac. While Țiriac expressed sadness regarding his continued presence at the office at his age, he confirmed that he has stepped back from high-level business operations.

To prevent the fragmentation of his wealth, which is estimated by Forbes to be approximately 2.1 to 2.3 billion euros, Țiriac has donated his assets and his famous car collection to the Țiriac Foundation. Although the assets are legally held by this non-profit entity for tax and patrimonial protection, the family maintains significant control. The foundation is managed by a board where family members, specifically Alexandru Ion Țiriac, hold decisive power over strategic direction and budget allocation.

Țiriac's current focus has shifted toward the foundation's philanthropic and sporting investments, including projects such as an Olympic-sized swimming pool and an ice rink in Brașov.