Otto Happel
$3.4B
Born
Feb 09, 1948
Age
77
Source of Wealth
Engineering
Residence
Luzerne,
Citizenship
Germany
Marital Status
Married
Children
6
Education
- Otto Happel, who studied engineering, 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.
- 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.
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