Nationality German Name Georg W. | Net worth 26 billion USD (2015) | |
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Born 19 October 1964 (age 59) ( 1964-10-19 ) Erlangen, Germany Residence Herzogenaurach, Germany Occupation Chairman, Schaeffler Group Role Maria-Elisabeth Schaeffler's son Parents Maria-Elisabeth Schaeffler Alma mater University of St. Gallen, Duke University Similar People Maria‑Elisabeth Schaeffler, Georg Schaeffler, Jurgen Thumann | ||
Georg f w schaeffler biography georg f w schaeffler life achievements timeline
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%. He is the head of the supervisory board of Schaeffler Group and a member of the supervisory board of Continental AG.
Contents
- Georg f w schaeffler biography georg f w schaeffler life achievements timeline
- Early life
- Career
- Wealth
- Personal life
- References
Early life
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. 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
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.
Wealth
According to Forbes, Schaeffler has a net worth of US$20.1 billion. 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.
Personal life
He is divorced with four children and lives in Herzogenaurach. He visits the United States several times a year.