Net Worth

Georg Schaeffler: The entrepreneur’s fortune

How rich is Georg Schaeffler?

With his insane fortune, Georg Schaeffler is undisputedly one of the richest Germans. However, the wealthy business lawyer no longer lives in his native homeland. In the meantime, corporate heritage has chosen the United States of America as its adopted home. As lucky as Georg Schaeffler was in life with regard to his finances, this did not save him from his great love bad luck. Georg Schaeffler’s marriage ended in divorce long ago. The cherished Georg Schaeffler’s assets are 10.48 billion euros.

One of the richest people in Germany

Georg Schaeffler's income

2nd from left: Georg Schaeffler

The sons of the father of four will at least not have to worry about their financial livelihood in the future. After all, her father is not only one of the richest Germans, but also one of the richest people in the world. in the Forbes listing of the wealthiest people around the globe, the native German can be found again and again in the top 100.

Schaeffler has grown up in a wealthy family since its birth. His parents, Georg and Maria-Elisbeth Schaeffler, were entrepreneurs from an early age. The son did his Abitur in Herzogenaurach before he became a soldier in the German Federal Armed Forces. There he appeared as a first lieutenant in the Air Force Reserve. From 1986 to 1990, the current billionaire studied at the prestigious University of St. Gallen in Switzerland. His study of the He graduated in business administration there with a degree in business administration.

Schaeffler AG

Georg Schaeffler's fortune
After Georg Schaeffler successfully completed his studies, he held various roles within the Schaeffler Group. His sphere of activity extended not only to Germany, but also to the USA. That the listed supplier for the mechanical engineering and automotive industries is still family-owned today, is a real specialty. After all, more than 91,000 people work for the billion-dollar company around the world.

In 1996, Georg Schaeffler then had to cope with the death of his father of the same name. In 1949, Georg Schaeffler senior developed the needle cage for needle roller bearings, the breakthrough in industrial applications signifying the rise of the family business founded in 1946. Georg Senior was 79 years old when he passed away. Georg Schaeffler junior became part of the Schaeffler Group’s corporate legacy. Schaeffler AG is a listed German supplier to the automotive and mechanical engineering industries. So the junior inherited 80% of the company, the remaining 20% ​​is held by his mother, Maria-Elisabeth Schaeffler.

The career of a billionaire

Likewise in 1996 the son started his law degree, which he completed at the Law School in Durham, North Carolina. There the son of an entrepreneur received his Juris Doctor with the distinction cum laude and his Master of Laws in 1999. Georg Schaeffler specialized in comparative and international law.

From 2000 to 2006, the wealthy German worked for the law firm Haynes & Boone in the US state of Texas, where he worked as a business lawyer. In recent years, however, Georg Schaeffler has concentrated more on the family business again. As a partner, he has an 80 percent stake in the group. The remaining 20 percent of the company is in the hands of his mother, who also appears as the Group’s chairwoman. Schaeffler’s mother also holds the following positions: Member of the supervisory board of Österreichische Industrieholding AG and the supervisory board of Continental AG.

Of course, mother and son have already been criticized in the press. Finally, government aid for the family business was under discussion in the meantime. In August 2009 the Schaeffler Group have achieved refinancing through their banksso that state aid was not necessary. Incidentally, very little is known about the Schaeffler’s private life. You keep a low profile and can enjoy your assets in peace.

Image sources:
@SchaefflerDE / Twitter

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