The 10 wealthiest German billionaires and their family offices

The 10 wealthiest German billionaires and their family offices

Germany has a high density of billionaires and ultra-high net-worth individuals. Single-family offices are the investment firms used by these wealthy families and individuals to manage their assets. On this page, we examine the richest German billionaires and their investment behavior. The single family offices featured are also part of our unique list of the most important European single family offices.

#1 Boehringer – von Baumbach Family Office, $50BN Net worth (combined)

The Boehringer / von Baumbach family made their fortune through the world’s leading pharmaceutical company, Boehringer Ingelheim. The company is still private and unlisted. In 2023, it had an operating profit of 4.8 billion euros and reported sales of almost 25.6 billion euros. The family manages its assets through its single family office, Profunda.

#2 Klaus-Michael Kuehne Family Office, $39.2BN Net worth

Klaus-Michael is the chairman and majority of the global logistics company, Kuehne + Nagel which was founded by his grandfather, August. He took over the company as CEO in 1966 and is now honorary chairman of Kuehne + Nagel International AG. As of today, he is the richest person in Germany.

#3 Dieter Schwarz Family Office, $38BN Net worth

Dieter Schwarz is a German billionaire who owns the global retail chain Lidl. Dieter Schwarz inherited the company from his father Josef Schwarz. Today, Lidl operates more than 12,300 stores in over 30 countries. With an annual turnover of €167.2 billion, it is one of the largest retail chains in the world. Schwarz himself is an active venture capital investor.

#4 Reinhold Wuerth Family Office, $33.6BN Net worth

Reinhold Würth is a German billionaire who owns the screw and tool manufacturer Würth. He joined the company in 1956 and has since built it into a market leader with operations in more than 80 countries. Reinhold Würth stepped down as CEO in 1994 but has since served as Chairman of the Supervisory Board of the Würth Group’s family trusts.

#5 & 6 Karl Albrecht & Beate Heister Family Office, $32BN Net worth (combined)

Karl and Beate are the children of Karl Abrecht Sr, who inherited the grocery giant Aldi. After their father split the ownership with his brother, Karl inherited the southern German, British, Australian and American stores (Aldi South). Their stake in the company is managed by the family trust, the Siepmann Foundation.

#7 Stefan Quandt Family Office, $27.3BN Net worth

Stefan Quandt is a German engineer and heir to the Quandt family industrial dynasty. Together with his sister Susanne Klatten, Stefan Quandt is heir to the BMW fortune. He now owns 23.6% of the company and is Deputy Chairman. The Quandt family owns several investment vehicles, including HQ Trust. Stefan Quandt also has his own personal family office, AQTON SE.

#8 Susanne Klatten Family Office, $26.5BN Net worth

Billionaire Susanne Klatten is Germany’s richest woman. Her fortune comes largely from the dividends she receives from her 19% stake in BMW. In addition to her work as a member of the supervisory board of BMW, Susanne Klatten has managed to turn Altana AG into a leading pharmaceutical and speciality chemicals company. Her own family office is called SKion GmbH.

#9 Theo Albrecht Jr. Family Office, $14BN Net worth

Theo inherited one of the world’s largest grocery franchises, Aldi, founded by his father, Theo Sr, in 1913. His father split the ownership with his brother Karl Sr. in 1961, and Theo Sr. inherited all the stores in Northern Germany and the rest of Europe (Aldi Nord). Theo Albrecht Jr. manages his wealth mainly through the Markus Foundation.

#10 Georg Schaeffler Family Office, $11BN Net worth

Georg Schaeffler is a German automotive billionaire. Schaeffler has held various positions in the family business since 1990. Today, he owns 80% of the Schaeffler Group. The Schaeffler Group is an automotive supplier and mechanical engineering company. There are several Schaeffler holding companies that act as a family office with a clear focus on industrial investments.

Picture Source: Rachel Davis via Unsplash