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He was also quoted as saying that Audi and Porsche would never compete in a race series. He let Audi win at Le Mans for many years and Porsche was sidelined.
Porsche was a totally independent car company, and THE most profitable car company on the planet. They had a huge cash reserve. As part of the Porsche family 6 owners of Porsche, he was behind the push for Porsche to buy the VW group. When many people saw many shares of VW being purchased they jumped on the bandwagon, and the stock prices went up. And Porsche was leveraged so far they ended up selling to the VW group. BUT the Porsche family owns 51% of the VW group.
They are the richest family in Europe. They still have a controlling vote on anything that Porsche or the other brand do.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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