⬅ # 332 Ray Lee Hunt|# 334 Ken Langone

# 333 Martin Viessmann 

$8.16B

Real Time Net Worth
as of 5/29/2024
-$37.1M (-0.45%)

# 333 Martin Viessmann 

$8.16B

Real Time Net Worth
as of 5/29/2024
-$37.1M (-0.45%)
OccupationChair, Viessmann Group
Source of WealthHeating And Cooling Equipment
Age70
ResidenceAllendorf, Germany
Marital StatusMarried
Children2
EducationDiploma, University of Erlangen
Age-Adjusted Net Worth$4.15B
Martin Viessmann
Martin Viessmann
Germany
Net worth: $8.16B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Born in 1953 as the fourth of five children to Hans Viessmann, Martin Viessmann is the grandson of Johann Viessmann, the founder of Viessmann Group.
Unlike his predecessors, Martin Viessmann does not complete an apprenticeship as a machinist or metalworker. Instead, he pursues a degree in business administration at the University of Erlangen-Nuremberg.
In 1989, Martin Viessmann earns a doctorate in social and economic sciences from the University of Innsbruck.

Career Highlights

Joins Viessmann Group as commercial director in 1979, under the guidance of his father, Hans Viessmann, during the energy crisis.
Restructures the company with his father, focusing on energy-efficient products to counter sales declines.
Assumes sole management of Viessmann Group in 1992, leading a large-scale internationalization campaign.
Increases foreign share of business from less than 10% in the early 1990s to over 50% by 2006.
Initiates sponsorship of sports in 1993, significantly boosting the popularity of the Viessmann brand.
Establishes 'Alliance for Work' in 1996 to ensure production of a new product line in Allendorf (Eder), creating 800 new jobs.

Business Strategy and Vision

Recognizes the potential of wall-mounted gas boilers, leading Viessmann Group's entry into the international market in this segment.
Dismantles hierarchies and reorganizes production based on lean production principles, increasing productivity by over 15%.
Foresees the energy revolution early on and invests in environmentally friendly, energy-efficient products.
Proactively addresses digital transformation, bringing his son Maximilian on board as Chief Digital Officer in 2016.
Shifts to strategic tasks as a member of the Board of Directors in 2016, appointing Maximilian as Co-CEO in 2017.
Maximilian Viessmann becomes sole CEO in July 2022, marking the transition to the fourth generation of Viessmann Group leadership.

Philanthropy and Recognition

Establishes the Viessmann Endowed Chair in Sustainable Technology at the University of Wisconsin Oshkosh in 2012.
Receives the Federal Cross of Merit: 1st Class from the Order of Merit of the Federal Republic of Germany in 2004.
Wins the Energy Globe Award for Sustainability in the 'Air' category in 2012 and is named Greentech Manager of the Year in 2013.
Inducted into the Handelsblatt Hall of Fame der Familienunternehmen in 2020.

Family and Personal Life

Married to Annette Viessmann, with whom he has two children: Katharina and Maximilian.
Daughter Anna Katharina serves as a non-executive member of the board of the family holding company.
Son Maximilian is the co-CEO of Viessmann Group, actively driving the digital transformation of the company.

How long would it take you to become as rich as Martin Viessmann?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Martin Viessmann's net worth of $8.16B.

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 42.57% compared to 11.75% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Martin Viessmann 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 Martin Viessmann, Heating And Cooling Equipment 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