Billionaire Duo Keeps Danaher Grip While Giving $3.3 Billion
- Donations by Steven and Mitchell Rales among the largest ever
- Each have pledged at least 85% of their shares to secure loans
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Steven and Mitchell Rales, the billionaire brothers behind industrial conglomerate Danaher Corp., shifted $3.3 billion in shares to their charitable foundations in one of the largest ever transfers of its kind.
The move earlier this month allocates billions for future donations from two of the world’s wealthiest people, who’ve eschewed the limelight while building a high-tech manufacturing empire. In addition to life sciences-focused Danaher, they own stakes in machinery company Colfax Corp. and advanced instrumentation-maker Fortive Corp.