The Quandt family, shareholders of BMW, have overtaken the founders of discount supermarket chains Aldi and Lidl as Germany’s wealthiest family.
According to German Manager Magazin,
The personal fortune of Johanna Quandt and her two children Stefan Quandt and Susanne Klatten, amounts to a combined 31 billion euros (USD 39 billion), making them the richest family in Germany.
The Quandts hold a 46.7-percent stake in BMW, but their investments in other areas have been considered to be brilliant. One of them is SGL Carbon, manufacturer of carbon fiber, an important lightweight material used in the construction of BMW cars. Other investments include the chemicals maker Altana and wind turbine manufacturer Nordex.
Next on the list are the Albrecht and Heister families, owners of Adi Sued with a combined fortune of 18.3 billion.
The combined wealth of Germany’s 100 richest people increased by 18.8 percent over the past 12 months to 399.8 billion euros, as a result of rising stock markets, flourishing company profits and a property boom, the magazine said.
The Quandt family’s backing allowed Chief Executive Officer Norbert Reithofer to lay out a strategy to achieve the 2 million delivery goal for 2020. Reithofer has also had the freedom to break with tradition, including developing front- wheel-drive vehicles and exiting the Formula One racing.
The Quandts are still very involved in the day-to-day BMW operations through Suzanne Klatten.