American Brad Hollinger increases stake in Williams up to 10 percent

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American healthcare executive Brad Hollinger has taken on a greater share of ownership in Williams Martini Racing, upping his involvement from 5 percent up to 10 percent, per reports.

Hollinger bought his first 5 percent of shares from Toto Wolff last June. A remaining 10 percent was up still to be sold by Wolff, now the head of Mercedes-Benz motorsport, with Hollinger now acquiring 5 more percent.

Hollinger told Reuters he is “never in business not to make money,” and hailed the financial potential of Formula 1 as he said it was “on the cusp of another major explosion.”

Overall, Sir Frank Williams still holds majority investment in the team with 52 percent ownership.

Williams co-founder Patrick Head and Hollinger now have 10 apiece, with Wolff at his 5 percent and 3 percent going to an employee trust. Some 20 percent is listed on the Frankfurt Stock Exchange.

Hollinger, of Mechanicsburg, Pa., is founder and CEO of The Hollinger Group and Vibra Healthcare.