Name
Maria-Elisabeth Schaeffler-Thumann
Primary Residence
Herzogenaurach, Germany
Citizenship
Germany
Source Of Wealth
auto parts
Net Worth
$3,200,000,000
Forbes 2019 Billionaires List Rank:
667
Forbes List Rank One: Title
#667 Billionaires 2019
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Summary
Maria-Elisabeth Schaeffler-Thumann and her son Georg own Schaeffler Group, one of the world's largest ball bearing and machine component producers.She took over in 1996, following the death of her husband (also Georg) who had founded the company with his brother Wilhelm in 1946.In 2008, 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.Maria-Elisabeth and Georg's combined 46% stake in Continental accounts for most of their wealth.
Did you know?
In 2014, she married Juergen Thumann, former head of the German industrial organization BDI.With Georg leading a quiet life in the U.S., Maria-Elisabeth has been the public face of Schaeffler despite owning just 20% compared to his 80%.
Age
77
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