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Billionaire Perelman Seeks to Reset Empire to Face New World (1)

July 15, 2020, 12:03 PM

Ronald Perelman, who built a business empire over decades spanning cosmetics, military vehicles and pharmaceuticals, is looking to rework his holdings as the global pandemic has pinched corporate profits and upended strategies.

MacAndrews & Forbes, his business run from a townhouse on East 62nd Street in Manhattan, is looking at options including the divestment of certain assets, according to spokesman Josh Vlasto.

Ronald Perelman
Photographer: Chris Goodney/Bloomberg

“Due to changes in the world both socially and economically, we have decided to reset MacAndrews & Forbes in a manner that will give us maximum flexibility both financially and personally,” Vlasto said in a statement ...