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Grizzly Bulls’ Billionaires Index

⬅ # 239 Karel Komarek|# 241 Brian Chesky ➡

# 240 Georg Schaeffler 

$9.56B

Real Time Net Worth
as of 7/25/2024
$31.6M (0.33%)

# 240 Georg Schaeffler 

$9.56B

Real Time Net Worth
as of 7/25/2024
$31.6M (0.33%)
OccupationChair, Schaeffler Group
Source of WealthAuto Parts
Age59
ResidenceHerzogenaurach, Germany
Marital StatusDivorced
Children4
Age-Adjusted Net Worth$10.2B
Georg Schaeffler
Georg Schaeffler
Germany
Net worth: $9.56B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Georg Friedrich Wilhelm Schaeffler was born on October 19, 1964, in Erlangen, Germany.
He studied business and economics at the University of St. Gallen, Switzerland, from 1986 to 1990.
Schaeffler worked within the Schaeffler Group from 1990 to 1996.
He further pursued education, obtaining a law degree and a masters from Duke University, and practiced international business law in Dallas, Texas.
Schaeffler served two years in the German armed forces, reaching the rank of lieutenant in the air force reserves.

Career

In 1999, Schaeffler took over the German automotive manufacturer LuK GmbH.
In 2002, he acquired the German producer of ball bearings, FAG Kugelfischer.
In 2008, Georg Schaeffler, along with the newly founded Schaeffler Group, acquired auto parts giant and tire manufacturer Continental AG in a $15 billion deal.
The Schaeffler Group, under his leadership, expanded significantly, employing over 80,000 people in 170 locations across 49 countries.

Wealth and Business Ventures

Georg Schaeffler and his mother, Maria-Elisabeth, jointly own Schaeffler Group, one of the world's largest producers of ball bearings and machine components.
Their combined 46% stake in Continental AG constitutes the majority of their wealth.
Maria-Elisabeth Schaeffler owns 20% of the holding company INA Holding Schaeffler GmbH & Co. KG, while Georg owns the remaining 80%.
Schaeffler's father, also named Georg Schaeffler, passed away in 1996, leaving behind the family fortune.

IRS Audit

In 2012, the US Internal Revenue Service (IRS) initiated an audit of Schaeffler, alleging approximately $1.2 billion in unpaid taxes and penalties.
After a contentious seven-year audit process, the IRS abandoned its pursuit and accepted a settlement of tens of millions.

How long would it take you to become as rich as Georg Schaeffler?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Georg Schaeffler's net worth of $9.56B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 52.22% compared to 16.62% for the S&P 500 benchmark.

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Georg Schaeffler is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Georg Schaeffler, Auto Parts is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey