Simplify the following text for a Grade 10 native English-speaking person.
Original: Bernard Charles `` Bernie '' Ecclestone ( born 28 October 1930 ) is a British sports entrepreneur , as president and CEO of Formula One Management and Formula One Administration and through his part-ownership of Alpha Prema , the parent company of the Formula One Group of companies .
Simplified: Bernard Charles `` Bernie '' Ecclestone ( born 28 October 1930 ) is a British sports entrepreneur , . He is the president and CEO of Formula One Management and Formula One Administration .