Heiress makes media boss an instant billionaire

The boss of German media giant Axel Springer has become an instant billionaire after getting a €1bn share windfall. Chief executive Mathias Doepfner has been handed 15pc of the company by Friede Springer, the 78-year-old heiress and controlling shareholder of the newspaper and advertising business. Mr Doepfner, 57, has also bought a further 4.1pc of her shares, meaning the pair will each hold 22pc of the company. Ms Springer said the move confirms Doepfner as her successor to the business,