Quandt and Klatten Family: Is there a Single Family Office?

Where does the wealth from the Quandt and Klatten family come from?

The Quandts are one of the most famous families in German industry. Günther Quandt, born in 1881, inherited many cloth factories from his father. During the First World War, the company expanded into other sectors. Günther’s heirs Herbert and Harald continued to manage and increase the family’s wealth after Günther’s death in 1954. The family is best known for restructuring the car manufacturer BMW. Today, among many other holdings, BMW is the main part of the Quandt and Klatten family’s wealth (Susanne Klatten is the daughter of Herbert Quandt’s third wife, Johanna).

How did the family company BMW develop?

BMW was founded in 1913 by Karl Rapp as “Rapp Motorenwerke GmbH”. In 1922 the name was changed to “Bayerische Motorenwerke” (BMW). In the beginning, the company mainly built aeroplanes and motorcycles. Today the company is known worldwide for its luxury cars. After the involvement of the Quandt family, the company grew and became profitable again. In 2018, its turnover was €97.5 billion. Since then the company further improved their business and have generated revenues of €155 billion in 2023. The  Susanne Klatten and Stefan Quandt own 48.5% of the shares. The annual dividend payout to the Quandt family is over €1 billion.

Do the Quandt and Klatten family have a single family office?

The main holding of the Quandt and Klatten family is the substantial stake in BMW. In addition, there are various family office investment vehicles of the Quandt family. Mainly known is the HQ Trust, which is a multi family office owned by the Harald Quandt Holding. It was founded in 1981 by family members to manage the family’s wealth. However in 1988, the firm was opened up to investment from external investors, transforming it from a single to a multi-family office. HQ Trust invests in private equity, real estate and capital markets. Besides that Susanne Klatten and Stefan Quandt invest through their own vehicles, which can be described as single family offices.

How are the Quandt and Klatten families investing?

As mentioned above, the HQ Trust multi-family office is active in private equity, real estate and capital markets. Although private equity investments are made through external funds as well as direct investments. In addition Susanne Klatten invests strategically through SKion GmbH. The company invests in companies with revenues between €0.3-2.5 billion, mainly in the industrial, services, renewable energy, optics as well in medical technology and diagnostics sectors. SKion also invests smaller amounts in water technology companies. Stefan Quandt’s investment company AQTON SE focuses besides BMW on digital security renewable energy also on smart grids and credit rating companies.

Picture source: Frank Albrecht

This article is part of our detailed report “The single family offices of Europe’s richest families“.