Georg Schaeffler Net Worth

September 2, 2023
1 min read

Georg Friedrich Wilhelm Schaeffler was born on 19 October 1964, in Erlangen Germany, of German and Czech (his mother) descent, and is known as the richest person in Germany, and the 21st richest person in the world.

So just how rich is Georg Schaeffler? Forbes estimates that Georg has a current net worth of $18.9 billion, most of his wealth having been accumulated through his Schaeffler AG company.

Georg Schaeffler Net Worth $18.9 Billion

Georg Schaeffler studied business and economics at the University of St. Gallen, Switzerland, graduating in 1990, and then worked within Schaeffler Group from 1990 to 1996. He also served two years in the German armed forces, achieving lieutenant rank in the Luftwaffe Reserve. Georg later went on to Duke University, North Carolina USA, and graduated in 1999 with a combined degree of Juris Doctor (cum laude) and Master of Law in international and comparative law. He then practised international business law in Dallas, apparently seeking a degree of anonymity and independence away from the family company.

The brothers Wilhelm and Georg Schaeffler (Maria-Elisabeth’s husband and Georg’s father), founded the manufacturer that became known as INA in Herzogenaurach, Germany, in 1946. The company achieved an industrial breakthrough in 1949 with the development of the needle roller and cage assembly by Georg Schaeffler. In 1952, an INA needle roller bearing replaced the previously used plain bearings in the transmission of the VW Beetle. Today, almost every modern passenger car contains INA engine and transmission components. Today the company is called the Schaeffler Group, and it includes three main brands: INA, LuK, and FAG. The company builds clutches and bearings and more than 100,000 other components, employing 63,000 people in 180 locations across the globe, with sales in the region of $12 billion per annum.

Georg’s mother, Maria-Elisabeth took over the company in 1996 following the death of her husband(Wilhelm Schaeffler died in 1981). Georg joined his mother in 2009, but they have a CEO who runs the company day-to-day. However, Georg is Chairman of the Supervisory Board of Schaeffler AG and owner of the Schaeffler Group. Apart from these positions in the Schaeffler Group, Georg Schaeffler is a member of the Supervisory Board of Continental AG and also a member of its Executive Committee.

In identifying Georg’s personal net worth, his holdings give an indication as to where his wealth originates, and why it continues to grow. He is the owner of 80% of the bearing company INA Holding Schaeffler GmbH & Co. KG, which encompasses Schaeffler AG, one of the world’s largest producers of roller bearings and machine components in the world. His mother owns the other 20%.

In his personal life. Georg Schaeffler has apparently been married twice, firstly to Bernadette Muehlen. He is now single but has four children and lives in Herzogenaurach Germany.

Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications.

At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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