Georg Schaeffler
Georg Friedrich Wilhelm Schaeffler 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%.
- Georg Schaeffler and his mother, Maria-Elisabeth, own Schaeffler Group, one of the world’s largest producers of ball bearings and machine components.
- In 2009, he joined his mother, who had been running Schaeffler after the death of her husband, Wilhelm, who founded the firm with his brother in 1946.
- A year before, the company took over tire and auto parts giant Continental AG in a $15-billion, debt-financed deal.
- In the wake of the financial crisis, it seemed the high-wire act might fail. But as the auto market rebounded, Continental‘s share price soared.
- Georg and Maria-Elisabeth’s combined 46% stake in Continental accounts for most of their wealth.
