What is Georg Schaeffler’s Net Worth?
Introduction
Georg Schaeffler is a German billionaire businessman.
Schaeffler holds 80% of the holding company INA Holding Schaeffler GmbH & Co. KG. This includes Schaeffler AG. Schaeffler Group has been active in both the aerospace and automotive sectors. In 1984, Schaeffler graduated from high school. He joined the University of St. Gallen two years later.
Georg Schaeffler’s networth is $7.9 billion as of August 2022.
Early Life
Georg Friedrich Wilhelm Schaeffler was born in Erlangen on the 19th October 1964.
Schaeffler studied economics and business at the University of St. Gallen in Switzerland from 1986 to 1990. He then worked for the Schaeffler Group between 1990 and 1996.
Later, he received a law degree and a master’s degree from Duke University. He then practiced international business law in Dallas. He was a two-year veteran of the German armed forces and reached the rank of lieutenant in the reserve air force.
Career
Georg, who was just one year old at the time of his father’s death, suffered a misfortune.
Even though this was a major problem for Georg, he continued his studies. Georg worked with his mother to separate management and ownership, as well as hired an outside CEO to oversee daily operations.
After finishing his studies, he began working as a summer clerk at Haynes and Boone. He was then offered a full-time position in the company.
He was involved in business dealings that forced him to relocate to Germany for family business purposes. He resigned after taking on more responsibility for the family business, and he slowly turned his attention to Schaeffler.
The company purchased Continental AG, a large public trader in tires & auto parts. This was a debt-financed acquisition. The financial crisis nearly brought down the company, prompting them to enter debt-restructuring negotiations.
The share prices of Continental Group began to rise exponentially after February 2009’s bottom. He was the chairman of the Schaeffler Group’s supervisory board and a member of the board of the Continental Group.
Highlights
These are some of the greatest highlights from Georg Schaeffler’s career:
- Owns 80% of INA Holding Schaeffler GmbH & Co. KG
- Ranked by ‘Forbes’ as the 96th richest person in the world (2020)
Three Amazing Lessons From Georg Schaeffler
We now know all about Georg Schaeffler and his success story. Let’s look at some lessons we can learn.
1. Tough times
There are times when we all have to go through hard times. You should never let your routines go.
2. Forgive yourself
You can forgive yourself for not knowing the things you did before you learned them.
3. Learn to LIVE
Do not regret one day of your life. Good days bring happiness. Bad days provide experience. Worst days teach lessons. The best days are memories.
Favorite Quotes From Georg Schaeffler
The government can help companies to stay afloat and provide jobs, but it is not always a bad thing. It is important to distinguish between assistance that benefits a company that is fundamentally in good health and one that was already suffering from the crisis.
This is the core of the debate. With the benefit of hindsight, we begin our analysis. The summer 2008 data were positive. We are now asking the question: Did we make poor investment decisions?