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This article directly stems from the research process for our European single family office database. Our list of European single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity and renewables.
Where does the wealth from the Porsche and Piëch family come from?
In 1930, Ferdinand Porsche founded the Dr. Ing. h. c. F. Porsche GmbH, which is today one of the most famous luxury car manufacturers in the world. In the beginning, the shares of the company were mainly distributed between Ferdinand Porsche (80%) and the lawyer Anton Piëch (10%). After Ferdinand Porsche’s death, the shares were equally distributed between the Porsche and Piëch families. Amongst others, the famous car manager and long-time CEO of the Volkswagen AG, Ferdinand Piëch, stems from the dynasty. The family’s wealth is estimated at €52.8B.
How did the family company Porsche develop?
Started as a small engineering company, the company at first developed cars for other companies. Amongst others, Porsche designed the “Volkswagen Käfer” in 1934. Today the most famous cars from Porsche are sports cars like the 911, Carrera GT. In recent years Porsche also sells SUVs like the Porsche Cayenne or Porsche Macan. In 2009, Porsche tried to take over the closely-related car maker Volkswagen. The attempt failed through issues with the required credit lines. Thereafter, the tide has turned and Volkswagen took over Porsche. As a consequence, the Porsche and Piëch families are also main owners of Volkswagen. Today, Porsche has yearly revenues in the amount of €25.8B and is highly profitable. Volkswagen is the biggest car maker in the world with more than 600,000 employees and sales over €235M.
Do the Porsche and Piëch family have a single family office?
There is no known single family office of both families. The fortune of the family is mainly based on the shares in the stock-listed Porsche Automobil Holding SE. The Porsche Automobil Holding SE holds 30,9% of Volkswagen. Furthermore, the holding invests in companies like the PTV group. Ferdinand Piëch sold the majority of his holding shares in 2017 and instead invests in real estate projects through an own firm. The family members either invest on their own or simply rely on their Porsche share.
How are the Porsche and Piëch families investing?
As previously said, family members are pursuing their own ventures and investments. Ferdinand Piëch is an active real estate investor in the German Stuttgart region (where also Porsche comes from). Through the Agron GmbH he invests in multiple projects like Forum1 in Böblingen or main buildings in Stuttgart’s inner city. Susanne Porsche is an investor in the German company builder Finleap. Great-grandson Anton Piëch builds up his own car company.
This article is part of our detailed report “The single family offices of Europe’s richest families“.
Picture source: Valdemaras Januška