This article directly stems from the research process for our Asian single family office database. Our list of venture capital focused single family offices includes the most important family investment vehicles that invest in promising startups, amongst others within the travel and hospitality sector.
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Iris inherited her fortune Antofagasta from her widow, Andronico Luksic Abaroa which is a Santiago-based mining company that is now operated by Iris and her children. As of February 2023, Iris has an estimated net worth of $24bn, placing her as the 64th richest person in the world according to Forbes. In this article, we will investigate if Iris manages her wealth through a family office.
Iris manages her wealth through Antofagasta and Quiñenco
Fontbona owns a reported 70% stake in one of the largest copper producers in the world, Antofagasta which also trades on the London Stock Exchange. Her son Jean-Paul manages Antofagasta and Guillermo, her late son used to manage Quiñenco. It is reported Iris maintains a close eye on operations and decisions require her approval. Quiñenco is a publicly traded holding company that owns a stake in the bank of Chile, Chile’s largest brewer CCU, and shipping company CSAV. The group has also invested in the Plava Laguna resort chain in Croatia. In 2016, Iris donated a record $4.4bn to the annual Chilean Telethon which supports children with disabilities. The family also supports philanthropic interests through the Foundation Familia Luksic which was founded by her Andronico and is an umbrella foundation for 6 charities. Iris’ daughter Paola holds the position of president for the foundation.
Picture source: Omid Roshin