By Hollywood Life | Created at 2024-12-23 19:55:34 | Updated at 2024-12-24 02:39:36
6 hours ago
The Nordstrom company is about to go private in an all-cash deal with El Puerto de Liverpool that will reportedly make the family wealthier. The agreement is estimated to be worth more than $6 billion. The transaction is expected to close in early 2025, leaving the Nordstrom heirs, including CEO Erik Nordstrom and CBO Pete Nordstrom, a majority ownership stake in the company, according to Yahoo! Finance.
El Puerto de Liverpool is a Mexican real estate and commercial company. It owns 10 percent of Nordstrom, whereas the Nordstrom family owns a 33 percent stake.
Nordstrom chairman Brad Tilden commented on the upcoming transaction in a statement. According to Fox Business, the statement read, “The special committee of the Nordstrom Board of Directors reviewed this proposal against the company’s standalone prospects for growth. Following a rigorous and independent evaluation and consultation with outside financial and legal advisers, the special committee unanimously concluded that this transaction offers greater value for all public shareholders at a significant premium to the unaffected share price.”
Before the upcoming deal with Nordstrom takes place, read on to learn how much money the entire Nordstrom family has.
Erik Nordstrom, Pete Nordstrom, Jamie Nordstrom, and Chris Wanless (Photo by Jamie McCarthy/Getty Images for Nordstrom)How Much Is the Nordstrom Family Worth?
It’s unclear where the Nordstrom family’s net worth stands in 2024. However, Forbes reported that they were worth $3.8 billion in 2015. Two years later, the family saw a change in their fortune when shares in the company dropped 27 percent, according to the outlet.
In 2017, the Nordstrom family “formed a group to pursue the possibility of a ‘going private transaction,'” according to Forbes.
What Was Bruce Nordstrom’s Net Worth?
Bruce, who died at the age of 90 in May 2024, was worth $1 billion in 2022, Forbes reported.
What Is Erik Nordstrom’s Net Worth?
Erik has a net worth of at least $60 million, according to multiple outlets. He is the CEO of Nordstrom.
While commenting on the agreement between the Nordstrom company and El Puerto, Erik called it “an exciting new chapter for the business.”
What Is Pete Nordstrom’s Net Worth?
Pete’s current net worth is unknown.
