Name
Peter Unger
Peter Unger
Neustadt an der Waldnaab, Germany
Germany
auto repair, Self Made
$2,400,000,000
916
#916 Billionaires 2019
From a single location opened in 1985, Peter Unger built his namesake auto parts and repair outfit Auto-Teile-Unger (A.T.U.) into a nationwide chain.In 2002, he sold 72% of the company for $900 million. Two years later, he sold his remaining stake for $360 million.Today, there are over 600 A.T.U. stores in Germany, Austria and Switzerland with about 10,000 employees, but the company has struggled since the sale.Residing in Bavaria, Unger is now investing in listed companies, startups and real estate, mostly through his Unger Unternehmensgruppe.Investments include food hygiene company aquagroup, a bike center focused on electric bicycles, and sensor technology startup Tacerion.
Unger's real estate focus is Berlin, where he has either purchased or invested in the construction of thousands of apartments with partner Groth Gruppe.In 2013, A.T.U. was in such a bad state that owner KKR sold it to private investment firm Centerbridge Partners for just one euro.
74
2
Add a review