Maria-Elisabeth Schaeffler-Thumann

$2.44B

as of 07/05/24

About Maria-Elisabeth Schaeffler-Thumann

Maria-Elisabeth Schaeffler-Thumann and her son Georg own Schaeffler Group, one of the world's largest ball bearing and machine component producers.

She took over in 1996, following the death of her husband (also Georg) who had founded the company with his brother Wilhelm in 1946.

In 2008, the company took over tire and auto parts giant Continental AG in a $15-billion, debt-financed deal.

In the wake of the financial crisis, it seemed the high-wire act might fail. But as the auto market rebounded, Continental's share price soared.

Maria-Elisabeth and Georg's combined 46% stake in Continental accounts for most of their wealth.

Personal stats

Citizenship

Germany

Source of wealth

Auto parts

Residence

Herzogenaurach, Germany

Marital status

Married

Birth date

08/17/41 (age 82)

Self-made

inherited and growing