How rich is Paul Gauselmann?
Paul Gauselmann is a German entrepreneur who was born in 1934 in the tranquil Borghorst in North Rhine-Westphalia. At a young age he dared to take the step into self-employment and became the famous king of games and machines. The Gauselmann Group is active in the areas of betting, slot machines and money processing. The native Westphalian is now a billionaire, making him one of the richest Germans. The cherished Paul Gauselmann and his family have assets of 3.26 billion euros.
Childhood and family
Paul Gauselmann was born in 1934 near the Westphalian city of Münster. His mother died at the age of two. The young German moved in with his aunt with his four brothers. Today’s billionaire often felt lonely as a child. He married his first wife Elisabeth at the young age of 20. He has three sons with her – he created his own family in order not to be lonely any longer. His wife Elisabeth died unexpectedly in 1965. Paul Gauselmann suddenly became a single parent. In 1967 he met Karin and married her that same year. In 1969 their child, Paul Gauselmann’s fourth son, was born. Karin Gauselmann always supports the entrepreneur and takes care of the children.
Together with his brothers, Gauselmann played games of chance during World War II while they sat in the German air raid shelters. After the war he showed his business acumen and sold scrap from the ruins in Munster. He realized early on that a mediocre life is not an option – Paul Gauselmann wanted to aim high and today he made it into the upper circle of German billionaires, of which there will only be a little over 100 in 2020.
Paul Gauselmann’s career
After successfully completing primary school in Münster, he trained as a telecommunications advisor. In 1957 Paul Gauselmann decided to set up music automatons as a part-time job. Eight years later, the young German from Borghorst dared to take the step of self-employment. During this time he applied for his first patents. In 1974 he opened his first vending machine leisure center in Delmenhorst. Since In 1977 the company produced money raffle devices. His Merkur Spielotheken has existed since 1974 – today there are over 200 pieces in Germany and other branches under the same name Merkur Casino in eight European countries.
The Gauselmann Group
The Gauselmann Group was founded in 1957 by Paul Gauselmann and today operates internationally. This Group of companies sells slot machines and money management systems. It also operates a chain of amusement arcades and is active in the areas of online gaming, sports betting, financial services and casinos. The Gauselmann Group comprises a large number of companies, including Gauselmann AG, Schneider Automaten GmbH, XTiP Sportwetten Vertrieb GmbH, CASINO MERKUR-SPIELOTHEK GmbH, CASINO MERKUR International GmbH, Cashpoint Agentur & IT-Service GmbH, Euro Payment Group GmbH, BEIT GmbH and many more.
The Gauselmann Group is now operating under the direction of the Gauselmann Family Foundation, which acts as the sole shareholder. The foundation advisory board as well as the foundation board consist largely of family members. In 2018, the Gauselmann Group’s turnover was 2.414 billion euros. Then in the year In 2019 the company achieved sales of 2.575 billion euros. The group employs more than 13,000 people, a little more than half of them in Germany. Today the Gauselmann Group is a global corporation with 300 of its own patents.
Paul Gauselmann was made an honorary citizen in his hometown. One street also bears the name of the successful entrepreneur. This is also active in sponsoring and gives Every year over three million euros to ensure that the football club Fortuna Düsseldorf plays in the Merkur Spiel-Arena.
With his thrift and love for the family, he has built up a gigantic fortune. However, Paul Gauselmann only owns one car and only one house. He likes to use public transport and doesn’t value status symbols. Still, the billionaire likes to play for his life in his spare time. He himself describes the game as one of the most beautiful things in life. As a result, you can play a game of backgammon every evening before the day draws to a close.
Benefactor Paul Gauselmann
Paul Gauselmann is considered a patron of art and culture. With his Gauselmann Foundation, which is a With endowment capital of 10 million euros, he supports charitable causes. He also founded the Children’s Family Aid Foundation, which helps underage children whose parents suffer from gambling addiction. In the fight against climate change and environmental pollution, the successful entrepreneur donated 85,000 deciduous trees on his 85th birthday.
Party donations and tax avoidance
But Paul Gauselmann is not only known as an honorable businessman. Because occasionally a shadow falls on the activities of the German gambling king. Critics complain that he makes his fortune at the expense of gambling addicts. Plus there have been in the past Disagreements about party donations that were not declared. The Gauselmann Group rejected any allegations – a court could not find any violations. In the course of the Paradise Papers affair, the name Paul Gauselmann was also mentioned. This should take advantage of legal gray areas to protect his assets and reduce the tax burden. However, there was no further information, confirmation of the rumors or consequences.
Count photo [CC BY-SA 3.0], via Wikimedia Commons
Gauselmann Group [CC BY-SA 4.0], via Wikimedia Commons
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