Georg F. W. Schaeffler

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Georg Friedrich Wilhelm Schaeffler
Born (1964-10-19) 19 October 1964 (age 53)
Erlangen, Germany
Residence Herzogenaurach, Germany
Nationality German
Alma mater University of St. Gallen
Duke University
Occupation Chairman, Schaeffler Group
Net worth US$29.1 billion (January 2018)[1]
Parent(s) Georg and Maria-Elisabeth Schaeffler

Georg F. W. Schaeffler (born 19 October 1964) is a German billionaire businessman, owner of 80% of the holding company INA Holding Schaeffler GmbH & Co. KG, which includes Schaeffler AG. His mother, Maria-Elisabeth Schaeffler, owns the other 20%.[1] He is the head of the supervisory board of Schaeffler Group and a member of the supervisory board of Continental AG. As of January 2018, Schaeffler was ranked by Forbes as the 30th richest person in the world, with a net worth of $29.1 billion.

Early life[edit]

Schaeffler was born in Erlangen. From 1986 to 1990, Schaeffler studied business and economics at the University of St. Gallen, Switzerland, and worked within the Schaeffler Group from 1990 to 1996.[2] He later went on to receive a law degree and a masters from Duke University and practised international business law in Dallas. He served two years in the German armed forces, reaching the rank of lieutenant in the air force reserves.

Career[edit]

Schaeffler has expanded the company over the years. In 1999 he took over the German automotive manufacturer LuK GmbH, and in 2002, the German producer of ball bearings FAG Kugelfischer. After the expense of $15 billion, in 2008 Georg and the newly founded Schaeffler Group, acquired auto parts giant and one of the largest tire manufacturers in the world, Continental AG. The Schaeffler Group employs over 80,000 people in 170 locations in 49 different countries. [3]

Wealth[edit]

According to Forbes, Schaeffler has a net worth of US$20.1 billion.[4] In May 2016, Schaeffler was ranked #39 on Forbes' list of global billionaires and #4 for Germany. He and his mother’s (Maria-Elisabeth Schaeffler) combined wealth is estimated to be US$34 billion.[1][5]

Personal life[edit]

He is divorced with four children and lives in Herzogenaurach. He visits the United States several times a year. [1][6]

References[edit]

  1. ^ a b c d "Georg Schaeffler".
  2. ^ "Bürdenträger ohne Macht" (in German). handelsblatt.com. Retrieved 5 August 2013.
  3. ^ "Georg Schaeffler makes Forbes billionaires list". bearingnet.net. Retrieved, 15 June 2015
  4. ^ "Georg Schaeffler". Retrieved 17 January 2018.
  5. ^ "#201 Maria-Elisabeth Schaeffler". forbes.com. Retrieved, 15 June 2015
  6. ^ Unter uns - Deutschlands reichsten Mann, Süddeutsche Zeitung Online, 5 March 2015

External links[edit]