Steven and Mitchell Rales cofounded Danaher in 1983. On Monday morning, the science and technology giant said it will acquire General Electric’s biopharma business.
91st Oscars - Oscar Week: Animated Features Getty Images Billionaire Steven Rales, who co-produced Wes Anderson’s latest animated movie Isle of Dogs , walked away empty handed from Sunday night’s Academy Awards ceremony. Hours after losing the esteemed golden statue to Spider-Man: Into The Spider Verse , however, Rales emerged as a big winner. Danaher, the science and technology conglomerate Steven and his brother Mitchell Rales cofounded in 1981, announced early on Monday morning at 7 a.m.
The modest vinyl siding business was just a start for the brothers. Two years later, they bought a struggling REIT that hadn’t reported a profit since 1975. They renamed the REIT “Danaher” a year later, after a Montana stream where the brothers once caught a lot of trout. The near-bankrupt REIT served as their tax shelter while they pursued acquisitions across multiple sectors; from tires to aluminum products.
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