Maria-Elisabeth Schaeffler

About Maria-Elisabeth Schaeffler

Birth Place: Herzogenaurach, Germany, Germany

Maria-Elisabeth Schaeffler Net Worth

Maria-Elisabeth Schaeffler was born in Herzogenaurach, Germany, Germany. Maria-Elisabeth Schaeffler-Thumann and her son, Georg, are the proprietors of Schaeffler Group, one of the world's largest producers of ball bearings and machine components. In 1946, Wilhelm Schaeffler and his brother Georg (Maria-Elisabeth's husband) founded the manufacturer that became known as INA, which initially only produced wooden buttons and belt buckles. The ball bearing assembly known as the needle cage, which became the foundation for the company's success, was developed by Georg in 1949. Maria-Elisabeth took over in 1996, following the death of Georg (Wilhelm Schaeffler died in 1981). In 2008, Schaeffler Group announced a $15-billion, debt-financed takeover of publicly traded tire and auto parts giant Continental AG. Her son (also named Georg), who had been practicing international business law in Dallas, joined her in running Schaeffler in 2009. For a while, in the wake of the ensuing worldwide financial crisis, it looked as if the high-wire act might come crashing down. But as the auto market rebounded, Continental's share price soared and the Schaefflers continued to pay down debt via Continental share sales and excess cash flow. Through Schaeffler Group and its parent, Schaeffler Verwaltungs GmbH, Maria-Elisabeth and Georg now own 46% of Continental. In 2015, they took Schaeffler public and within half a year sold all preferred non-voting shares of the company. While her son leads a secluded life in, Maria-Elisabeth is the public face of Schaeffler. She has received various accolades for her entrepreneurial and civic achievements, as well as for her commitment to social issues and cultural organizations. In 2014, she married Juergen Thumann, former head of the German industrial organization BDI, where she is a member of the executive committee.
Maria-Elisabeth Schaeffler is a member of Automotive

💰 Net worth: $5.6 Billion (Updated at 22 June 2018)

2014 $3.6 Billion
2015 $6.7 Billion
2016 $4.5 Billion
2017 $5.2 Billion
2018 $6.37 Billion

Some Maria-Elisabeth Schaeffler images

Biography/Timeline

1963

In 1963 Schaeffler married Georg Schaeffler, and moved to Herzogenaurach in Franconia, which is located within Bavaria. It was through Schaeffler's marriage that she would come to work for Schaeffler Group AG. In 1996 Georg died, and she took the reins of the family Business.

1996

Since 1996 Schaeffler Group AG has seen an increase in annual turnover and employment. By 2013 the annual turnover reached approximately 10 billion Euros, and the employment tripled to over 70,000 employees, an impressive mark for a completely privately owned company.

1999

In 1999, Schaeffler led the acquisition of LUK, a clutch manufacturer, obtaining all of the shares of the company for Schaeffler Group AG. In 2001 she led the acquisition of FAG Kugelfischer Georg Schäfer AG Schweinfurt, with the acquisitions of FAG and INA, Schaeffler Group AG had become the second largest Producer of rolling bearings in the World. In 2009 Schaeffler Group purchased a significant share of the company Continental AG.

2004

Schaeffler served as a CSU delegate to the Federal Convention for the purpose of electing the President of Germany in 2004. During the Hannover Messe in April 2016, she was among the 15 German corporate Leaders who were invited to a private dinner with President Barack Obama.