Explore how the celebrity world connects. State-of-the-art in every aspect, from geothermal heating and cooling to exquisitely crafted details and top-of-the-line amenities, the soaring two-story entrance hall and living room with floor-to-ceiling stone fireplace enjoy panoramic ocean views. Designed between 1928 and 1931 by Edmund B. Gilchrist for stockbroker Rodman Ellison Griscom, this French Norman-Style home was owned by the Dorrance family for over 50 years. John T. Dorrance Sr., Ippy's grandfather, was a brilliant, determined, shrewd chemist who saw a way to make a fortune from something as mundane as the soup Americans served at dinner. TAGGED Bar Harbor, Campbell's, Campbell's Soup, House Tour, Maine, Newport, Pennsylvania, Rhode Island / Leave a Comment, About Sothebys International Realty Affiliates LLC. When John, born on November 11, 1873, came to Joseph Campbell Preserve Co. at the age of 24 to work as a chemist, he brought with him a Bachelor of Arts from M.I.T. . When they die, their heirs will be under pressure to sell large blocks of stock to pay estate taxes. RESULTS FOR 2007 . Others call them yacht people.". NA, Head of Mission :Mr John Thompson Dorrance III, Honorary Consul. "Most people realize that his citizenship has absolutely nothing to do with the company," said Jim Moran, a Campbell Soup spokesman. He keeps a low profile and reportedly spends time in Bahamas with his Finnish wife when not home in Ireland. They were together again at Sir Elton John's white-tie ball, and just last week they were arm-in-arm at the Love Ball, part of London Fashion Week at Camden's Roundhouse. He served on the local weed and pest control board. Registered office: 1 London Bridge Street, SE1 9GF. The President's solution is to change tax laws so that rich Americans would have to pay a whopping capital gains tax before they could renounce their citizenship. Many people and entities have the same or similar names. Coronavirus (COVID-19)Due to the Coronavirus (COVID-19) disease the Ugandan Honorary Consulate in Nassau could have adjusted its office hours or services. As a visa applicant, you will need to establish that you meet all requirements to receive the category of visa for which you are applying. Sunday April 27 2008, 1.01am, The Sunday Times. There are 10+ professionals named "John Dorrance", who use LinkedIn to exchange information, ideas, and opportunities. 1. And he kept the price for condensed tomato soup to a dime. "Heir Sells 14 Percent Of Stake In Campbell John T. Dorrance 3d Was A Staunch Supporter Of Family Control. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. Copyright FameChain 2023, All rights reserved. "I'd have to look at whether Ippy has turned his back on his country - or whether his country has turned its back on him," said an old friend of Jack Dorrance, referring to what he thought were this country's exorbitant estate taxes. Built in 1902, this Georgian Revival masterpiece was the villagesfirst brick summer cottage. Please contact us if you find an error in the database. It was there where he invented the formula for condensing soup. 1717 St. James Place, Suite 400 Houston, Texas 77056. 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In his will, the inventor had insisted that his son, Jack, and his four daughters never relinquish control of Campbell Soup. If Ippy Dorrance had not acted, his heirs might be confronted one day with having to sell more than half his stock to pay taxes. In 2023, digital will go a step further to give it to them. The reason for the ruse: Inheritance taxes were lower in New Jersey. Rep. Patricia Schroeder (D., Colo.) attacked Ippy Dorrance in a recent speech on the floor of the House of Representatives: "Every time you buy a jar of soup, think of that can of soup and the guy living in Ireland, thumbing his nose at American taxpayers. In addition to the lack of an estate tax, St. Kitts-Nevis and the Cayman Islands don't even impose an income tax. All right reserved. He was earning a handsome income in dividends from Campbell Soup, but the stock that had been reserved for his branch of the family by Dr. Dorrance was held in a trust. He renounced U.S. citizenship and moved to Ireland shortly before selling, purportedly to avoid estate and capital gains taxes on coming windfall. $16,500,000 USD | Gladwyne, Pennsylvania | Kurfiss Sothebys International Realty. Not that they care, but this Jalen Carter thing isnt a good look for officials at the University of Georgia or around the NFL. Associates of Ippy Dorrance say his move to Ireland was motivated by tax concerns brought on by this newfound wealth. Early life [ edit] He is the son of John T. "Jack" Dorrance Jr. (1919-1989), and grandson of John Thompson Dorrance. John Dorrance III (born 1943/1944) is an American-born Irish billionaire businessman and Campbell's Soup heir. "He's a private individual and not an employee of the company. Both Irish citizens, they also have a home in the Bahamas where Gundel is an. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. In 1897, Dr John T Torrance discovered a method to create condensed soup." History He keeps so much to himself that he doesn't make it known who his friends are, deliberately.". The grandson of John T. Dorrance, the inventor of condensed soup, Bennett Dorrance owns a 15% stake in Campbell Soup. And with that, Dorrance no longer was one of America's richest men; he was one of Ireland's. This ICIJ database contains information on more than 810,000 offshore entities that are part of the Pandora Papers, Paradise Papers, Bahamas Leaks, Panama Papers and Offshore Leaks investigations. The Philadelphia Inquirer reported that, "In Ireland, he can pay half the 30 percent U.S. tax rate on dividends, and when he dies, his estate will be taxed at 2 percent, rather than 55 percent in the United States.". The effect is a house that would look at home in the tonier sections of Philadelphia's Chestnut Hill. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. Mark Mobius, an investment manager and now a German citizen who splits his time between Hong Kong and Singapore. Personal life Stephanie Dorrance's in laws: Stephanie Dorrance's father in law is John Dorrance III Stephanie Dorrance's grandfather in law was John T Dorrance Jr Stephanie Dorrance's grandmother in law is Mary Alice Dorrance Stephanie Dorrance's husband John Dorrance IV's uncle in law is Bennett Dorrance Stephanie Dorrance's husband John Dorrance IV's aunt in law is Mary Alice Malone The UK's supply crisis puts extra pressure on Prime Minister Boris. Dorrance then returned to the United States to work for his uncle at the Joseph Cambell Preserve Company. POSTED IN LUXURY HOME TOURS / Dorrance, 76, known as Ippy, had sold his stake in the American company by 1996, making 1.2bn, although members of his extended family still hold more than 40% of the 13bn company and his investments should be worth at least 2.6bn. His administration argues that such a move could raise $2.2 billion over five years. John is related to Laurel Ann Dorrance . Grandson of Campbell Soup's founder, John Dorrance I, John Dorrance III has led a quiet life in South Dublin since cashing out of family business; from 1995 to 1996 he sold off majority of his inherited 10.5% stake in soup for $1.5 billion. A congressional Joint Tax Committee report, released June 1, argued there have been just a handful of wealthy expatriates and a change in tax law would raise a meager $200 million over five years. John T. Dorrance Jr. was the chairman of the Campbell Soup Company from 1962 to 1984, He was the son of Dr. John T. Dorrance, the company's first president and the inventor of canned condensed soup. In return for spending more than $1.5 million to plant new trees on 1,000 acres in Ireland, Dorrance got a passport from a grateful Irish government. Although Dorrance won't discuss publicly why he moved, Ireland's exceptional tax relief is a powerful draw for the monied set. Modular organizer systems Patent number: 10925399 For them, U.S. citizenship can carry too high a price. Five years later, he's still wearing that same jacket.". In the United States, estate taxes would eat up 55 percent of his wealth when he dies; in Ireland, the government imposes a 2 percent estate, or probate, tax. An ambitious exploration into high-end residential markets across the globe. John Dorrance IV's first cousin once removed is, Stephanie Dorrance had a relationship with, Stephanie Dorrance's grandfather in law was, Stephanie Dorrance's grandmother in law is, Stephanie Dorrance's husband John Dorrance IV's uncle in law is, Stephanie Dorrance's husband John Dorrance IV's aunt in law is. It is believed to be correct at the time of inputting and is presented here in good faith. Box N-7776 Nassau Bahamas Contact Numbers (+1 242) 362-4887 email IDs officejtd@yahoo.com fax (+1 242) 362-5013 website Ambassador Head of Mission Mr John Thompson Dorrance III, Honorary Consul Working time 0 Visiting Time Facebook Link Twitter Link Instagram Link Other Detail Your Name By 1914, he had started the Campbell Soup Company and ran it until his death in 1930, at which time it was passed down to his son. Jack's older son, John 3d, a Wyoming cattle rancher who, according to family friends, had been alienated from his father for years, has tried without success to assume the mantle. It would be ironic, though, if these new refugees fled the country at just the time when America would once again embrace the economic freedom that has become so popular around the world. In Ireland, Dorrance has chosen a quiet life for himself. Bachelor of Arts/Science, University of Arizona. He can travel to Camden for board meetings at Campbell Soup, where he has been a director for more than 10 years.