Certain individuals have ascended to remarkable heights in business and industry, amassing fortunes that captivate the imagination. One example is Maria-Elisabeth Schaeffler, a successful German entrepreneur and the heiress of the Schaeffler Group.
Our forthcoming article delves deep into her life and wealth, providing an insightful estimate of Maria-Elisabeth Schaeffler net worth as of 2023.
What is Maria-Elisabeth Schaeffler’s Net Worth and Salary in 2023?
According to Forbes, Maria-Elisabeth Schaeffler boasts an impressive net worth of $2.4 billion. This huge amount puts her at 96 on Forbes’ list of the world’s billionaires and makes her the fourth richest person in Germany.
Despite facing numerous challenges throughout her career, including the financial crisis of 2008, Schaeffler’s unwavering determination and exceptional management skills have contributed to her immense wealth.
Although her exact salary remains undisclosed, it is evident that her influential role in the Schaeffler Group and her family’s controlling interests in Continental AG and Vitesco Technologies have significantly impacted her financial success.
Maria-Elisabeth Schaeffler’s Overview
Early Life
Maria-Elisabeth Schaeffler was born in Prague on August 17, 1941, then part of the Protectorate of Bohemia and Moravia. She grew up in Vienna, Austria, where she developed a strong foundation for future endeavors.
Career
Maria-Elisabeth Schaeffler began her journey with the family business, Schaeffler Group AG. Following her husband’s death in 1996, Maria-Elisabeth took the company’s reins and steered it towards unprecedented growth.
Under her leadership, the annual turnover increased significantly, reaching approximately 10 billion euros by 2013, while employment tripled to over 70,000 employees.
Throughout her tenure, Maria-Elisabeth has been instrumental in expanding the Schaeffler Group through strategic acquisitions, including INA, LUK, and FAG, renowned for manufacturing rolling bearings.
These acquisitions have positioned the Schaeffler Group as one of the world’s largest rolling bearings and linear motion product producers.
In 1999, she led the purchase of the remaining shares of LuK, a clutch manufacturer, consolidating Schaeffler Group’s ownership.
The addition of FAG Kugelfischer Georg Schäfer AG Schweinfurt in 2001 further solidified the group’s standing as the second-largest producer of rolling bearings globally.
Additionally, in 2009, Schaeffler Group purchased a significant share of Continental AG, a leading automotive supplier.
Personal Life
In 1963, she married Dr. Georg Schaeffler and moved to Herzogenaurach, a town in Franconia within Bavaria, Germany. This marriage marked the beginning of her journey with the Schaeffler Group.
After her husband’s death in 1996, Maria-Elisabeth continued her husband’s life work and expanded the company through strategic acquisitions.
Political activities
Maria-Elisabeth’s career has been broadened beyond her work with the Schaeffler Group. She has also been actively involved in political activities, serving as a CSU delegate to the Federal Convention for electing the President of Germany in 2004.
In April 2016, she was among the 15 German corporate leaders invited to a private dinner with President Barack Obama during the Hannover Messe.
Awards
Maria-Elisabeth Schaeffler’s accomplishments in the business world have been well-recognized over the years.
Among these awards are the “Family Entrepreneur of the Year” prize in 2004 and 2012 and the “Cross of Merit with Ribbon of the Order of Merit of the Federal Republic of Germany” in 2001.
Why is Maria-Elisabeth Schaeffler Famous?
Maria-Elisabeth Schaeffler is renowned for her exceptional leadership and business acumen as a German businesswoman and co-owner of the Schaeffler Group.
Maria-Elisabeth Schaeffler has well recognized as a leading figure in international business thanks to her decades of service to the company her family founded.
FAQs about Maria-Elisabeth Schaeffler
How old is Maria-Elisabeth Schaeffler?
Maria-Elisabeth Schaeffler age is 81 years old.
How tall is Maria-Elisabeth Schaeffler?
Maria-Elisabeth Schaeffler height is 170 cm.
How much is Schaeffler Group worth?
Bloomberg’s wealth index estimates the Schaefflers’ net worth to be $8.5 billion.
Is Schaeffler a good company?
On average, employees at Schaeffler gave the company 3.8 stars out of 5, based on 1,944 reviews. The majority of employees at Schaeffler (74%) are optimistic about the company’s future (62%), and they would recommend working there to a friend (62%).
Conclusion
In conclusion, Maria-Elisabeth Schaeffler’s story exemplifies the extraordinary success of select individuals in business and industry. Estimating her net worth in 2023 is a testament to her profound influence and financial prowess.
However, the world of exceptional wealth and achievement extends beyond Maria-Elisabeth Schaeffler. In that case, World Celebrity Net Worth offers a vast collection of articles that delve into the financial profiles of renowned figures from various fields.
