Michael Mehrdad Latifi was born in 1962 in Iran. He however grew up in Canada. He was well-known as the proprietor of one of the country’s leading food corporations, Sofina.
In the 1990s, he set out to expand the empire, acquiring Lilydale Incorporated, among other things. Another important contribution he made was the creation of the Sofina Foundation in 2007.
He holds record worth which is estimated to be close to $2 billion. However, he generated quite a stir in the F1 industry when he made a large investment in the McLaren Group. In 2018, he paid $260 million for a 10% share in the Woking-based company through his investment firm, Nidala.
Michael was in the running to buy Williams before Dorilton took control last year.
Williams hasn’t had the best of luck in recent years. They went from competing for championships in the 1990s to fighting for survival last year when COVID struck. Michael had a significant role in securing this.
When the team’s title sponsors, Rokit, pulled out, he sanctioned a loan for an undefined amount through his Latrus Racing company. When reports about Williams’ family’s plan to sell the team started to circulate, his name was often mentioned in the media.
He was willing to pay roughly $150 million to take control of the team, according to Gazzetta Dello Sport. The new budget cap piqued his interest, and he believed he could restore their competitiveness. This arrangement would have been similar to Lawrence Stroll’s with his son Lance’s F1 squad.
However, this was not to be as Dorilton Capital rushed in and took over Claire Williams’ responsibilities. It may have also assured Nicholas a long-term F1 drive.
As of 2021, Latifi is reportedly worth around $2million.
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