Name
Otto Happel
Primary Residence
Luzerne, Switzerland
Citizenship
Germany
Source Of Wealth
engineering
Net Worth
$2,700,000,000
Forbes Profile
Forbes 2019 Billionaires List Rank:
838
Forbes List Rank One: Title
#838 Billionaires 2019
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Summary
Otto Happel, who studied engineering at RWTH Aachen, inherited his father's dust-removal business and turned it into thermal engineering firm GEA.In 1999, he sold his 50.1% GEA stake to Germany's MG Technologies for around $775 million in cash and kept a 10% interest in the combined group.In 2005 the company renamed itself GEA Group. Happel cashed out in 2006, selling his remaining stake to institutional investors for $700 million. In 2015, he attended the World Economic Forum in his role as chairman of the Swiss private wealth management firm Luserve AG.
Did you know?
A foundation in his name supports projects in the developing world.He has a super-yacht named Hetairos and lives in Switzerland with his wife and six children.
Age
71
Categories
Number of Children
6
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