Maria-Elisabeth Schaeffler-Thumann
$3.4B
Born
Aug 17, 1941
Age
84
Source of Wealth
Auto parts
Residence
Herzogenaurach,
Citizenship
Germany
Marital Status
Married
Children
0
Education
- 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.
- Maria-Elisabeth, who owns 20% of Schaeffler Group, lives in the tony Austrian ski resort town of Kitzbuehel, while Georg, with 80%, leads a quiet life in the U.S.
- In 2014, she married Juergen Thumann, former head of the German industrial organization BDI.
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