Georg F. W. Schaeffler is a German businessman. He owns 80 percent of the holding company INA Holding Schaeffler GmbH & Co. KG. He is the head of the supervisory board of Schaeffler Group and a member of the supervisory board of Continental AG. Forbes estimates this 50-year-old billionaire’s net worth to be around $20.8 billion. This dropped to $15.5 billion as of October 2018. He used to be the richest German in the world.
Georg F. W. Shaeffler was born on 19 October 1964 in Erlangen, Germany. He studied business and economics at the University Of St. Gallen, Switzerland between 1986 and 1990. He worked in the Schaeffler Group for six years from 1990. Later he gained a law degree and a masters from Duke University and practiced international business law in Dallas. He served in the German armed forces for two years.
Over the years he has expanded the company. Today the Schaeffler Group employs more than 80,000 people in 170 locations in 49 different nations. Schaeffler AG is one of the world’s largest producers of ball bearings and machine components. It took over tire and auto parts company Continental AG in 2008.
Schaeffler has divorced twice. He has four children. Even though he lives in Herzogenaurach, he travels to the US frequently.