Stefan Quandt
Stefan Quandt | |
---|---|
Born | |
Education | Karlsruhe Institute of Technology |
Occupation | Businessman |
Spouse |
Katharina Quandt (m. 2005) |
Children | 1 |
Parent(s) | Herbert Quandt Johanna Quandt |
Relatives | Susanne Klatten (sister) Silvia Quandt (half-sister) |
Stefan Quandt (born 9 May 1966) is a German billionaire heir, engineer and industrialist. As of October 2021, his net worth is estimated at US$23.2 billion[1] and ranked at number 89 on Bloomberg Billionaires Index.[2]
Early life
Quandt was born in Bad Homburg to Herbert Quandt, a German industrialist and prominent Nazi,[3] and Johanna Quandt. He earned a degree from the University of Karlsruhe where he studied economics and engineering,[1] from 1987 to 1993.
Career
From 1993–1994, Quandt worked for the
BMW
On his father's death in 1982 Quandt inherited 17.4% of BMW,[4] the company his father had saved from bankruptcy in 1959. From further purchases he later owned 23.7% of the company.[1] Following his mother’s death in 2015, Quandt’s voting stake in BMW temporarily increased to 34.19 percent, above a 30 percent threshold which triggered a compulsory takeover offer under German rules.[5] He subsequently asked the Federal Financial Supervisory Authority (BaFin) to be excused from these rules.[6]
In 2018, Quandt became BMW’s largest single shareholder when his direct ownership increased with shares inherited from his mother, giving him a so-called “blocking stake” of 25.83 percent, worth 13.4 billion euros ($16.6 billion).[7] He currently[when?] serves BMW as a deputy chairman of the supervisory board.[8]
Delton
Quandt also inherited from his father substantial holdings in other companies, many of which he has been running through his holding company, Delton AG, since 1989. These include:
- 76.8% of CEAG, (small power supplies and recharging devices for mobile phones)
- 87.6% of Logwin AG (formerly Thiel Logistik, a logistics and freight forwarding company)[9]
- 100% of Biologische Heilmittel Heel GmbH, which makes homeopathic preparations[10]
- 100% of CeDo Household Products, which makes freezer bags, plastic and aluminium wraps and foils, bin liners, and coffee filters
With his mother, Quandt owned 18.3% of
Aqton
With a second holding company, Aqton SE, Quandt manages other investments, including in renewable energies:[11]
- Heliatek, organic solar panels
- Solarwatt, manufacturer of PV panels, solar batteries and energy management solutions
- Kiwigrid, grid based renewable energy solution for utilities
- BHF, financial services[12]
Philanthropy
Through the non-profit Aqtivator, Quandt supports projects for children, youth, and families with a focus on education, integration, and equal opportunity.[13][14]
Other activities
Corporate boards
- Frankfurter Allgemeine Zeitung, Member of the Supervisory Board (since 2019)[15]
- Dresdner Bank, former Member of the Supervisory Board
- Gerling Konzern Allgemeine Versicherungs, former Member of the Supervisory Board
Non-profit organizations
- Friends of the Museum für Moderne Kunst, Chair of the Board (since 2015)[16]
- Karlsruhe Institute of Technology (KIT), Member of the Supervisory Board (since 2013)[17]
- BMW Foundation, Member of the Board of Trustees[18]
- Eberhard von Kuenheim Foundation, Member of the Board of Trustees[19]
- Johanna Quandt Foundation, Member of the Board of Trustees[20]
- Stiftung Charité, Member of the Board of Trustees[21]
Political activities
Following the 2013 elections, Quandt – together with his mother and his sister – made donations to the Christian Democratic Union (CDU) totaling 690,000 euros.[22][23] Ahead of the 2017 elections, he gave 50,000 euros each to both the CDU and liberal Free Democratic Party (FDP).[24]
Personal life
In autumn 2005, Quandt married Katharina, a software engineer. They have a daughter, born on New Year's Eve that same year. He generally keeps a low profile. They live in Frankfurt, Germany.[1]
The Silence of the Quandts
The
References
- ^ a b c d "Forbes profile: Stefan Quandt". Forbes. Retrieved 19 October 2021.
- ^ "Bloomberg Billionaires Index - # 89 Stefan Quandt $21.2B". Bloomberg L.P. 31 October 2021. Retrieved 1 November 2021.
- ^ "The Silence of the Quandts: The history of a wealthy German family". World Socialist Web Site. 29 November 2008. Retrieved 11 September 2023.
- ^ BMW Group : BMW AG share & dept : Shareholder structure
- ^ Edward Taylor (11 August 2015), BMW heir Stefan Quandt asks for exemption from takeover bid rule Reuters.
- ^ Edward Taylor (11 August 2015), BMW heir Stefan Quandt asks for exemption from takeover bid rule Reuters.
- ^ Edward Taylor, Alexander Huebner and Irene Preisinger (20 February 2018), Stefan Quandt becomes BMW's most powerful shareholder Reuters.
- ^ "BMW Group : Investor Relations : Supervisory Board".
- Bloomberg Business.
- Bloomberg Business.
- ^ Handelsblatt: BMW Battery Baron at Full Power
- ^ Edward Taylor (29 July 2015), BHF shareholder AQTON: 5.10 eur offer from FOSUN too low Reuters.
- ^ Christopher Stolz (10 June 2021), Das sind die fünf reichsten Menschen Deutschlands Der Tagesspiegel.
- ^ Dietmar Student and Martin Noé (20 June 2019), Susanne Klatten und Stefan Quandt im Interview: "Wer würde denn mit uns tauschen wollen?" Manager Magazin.
- ^ Christopher Stolz (10 June 2021), Das sind die fünf reichsten Menschen Deutschlands Der Tagesspiegel.
- ^ Board Friends of the Museum für Moderne Kunst.
- ^ Supervisory Board Karlsruhe Institute of Technology (KIT).
- ^ Board of Trustees BMW Foundation.
- ^ Board of Trustees Eberhard von Kuenheim Foundation.
- ^ Board of Trustees Johanna Quandt Foundation.
- ^ Board of Trustees Stiftung Charité.
- ^ Alexandra Hudson (15 October 2013), BMW family donation to Merkel's party stokes lobbying row Reuters’'.
- Wall Street Journal.
- ^ Cynthia Kroet and Joshua Posaner (1 August 2017), Auto giants help make Angela Merkel’s conservatives Germany’s top fundraisers Reuters.
- YouTube
- ^ a b Emma Bode and Brigitte Fehlau (29 November 2008). "The Silence of the Quandts: The history of a wealthy German family. A documentary film by Eric Friedler and Barbara Siebert". World Socialist Web Site. Retrieved 15 November 2014.
- ^ a b c Paterson, Tony (29 September 2011). "BMW dynasty breaks silence on its Nazi past". The Independent. Archived from the original on 24 May 2022. Retrieved 15 November 2014.
- ^ Bonstein, Julia (10 December 2007), "Breaking the Silence: BMW's Quandt Family to Investigate Wealth Amassed in Third Reich", Der Spiegel