John Dorrance III (born 1943/1944) is an American-born Irish billionaire businessman and Campbell’s Soup heir. He is also known as “Ippy” Dorrance.
Early life
He is the son of John T. “Jack” Dorrance Jr. (1919–1989), and grandson of John Thompson Dorrance.
Career
As of November 2015, Forbes estimated his net worth at US$2.6 billion.
Personal life
For 15 years he lived on a ranch in Wyoming, before moving to Ireland. The Philadelphia Inquirer reported that, “In Ireland, he can pay half the 30 percent U.S. tax rate on dividends, and when he dies, his estate will be taxed at 2 percent, rather than 55 percent in the United States.”
He is married with two children and lives in Dublin.
Summary
| John Dorrance III | |
|---|---|
| Born | 1943/1944 (age 72–73) US |
| Residence | Dublin, Ireland |
| Nationality | Irish |
| Known for | Campbell’s Soup heir |
| Net worth | US$2.6 billion (November 2015) |
| Spouse(s) | married |
| Children | 2 sons |
| Parent(s) | John T. “Jack” Dorrance Jr |
| Relatives | John Thompson Dorrance (grandfather) |
John Dorrance, III net worth: John Dorrance, III is an Irish billionaire who has a net worth of $2.5 billion. John Dorrance, III, being the grandson of Campbell soup founder, John Dorrance I, made his fortune after he cashed out the family business. In a one-year period, from 1995 to 1996, he sold much of his inherited 10.5% stake in Campbell Soup for $1.5 billion. Thus he made a well-timed bet right before the stock plunged. Another smart step he took was renouncing US citizenship and moving to Ireland shortly before he did the selling, in order to avoid estate and capital gains taxes on coming windfall. Since then, he has led a quiet life in the south part of Ireland’s capital Dublin, from time to time going to the Bahamas with his Finish wife. In the past, he joined various movements to legalize game ranching in Wyoming and fox hunting in Great Britain.
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