Georg Schaeffler
Source of wealth: Auto parts
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The scale of their wealth
Health
The price of life
Let's compare Georg Schaeffler's fortune with the healthcare spending of a massive country
Georg Schaeffler could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 8.1 years.
But even if we compare their fortune with that of a rich country
On the other end, Georg Schaeffler could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 3.6 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Georg Schaeffler could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 5.3 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Georg Schaeffler could pay for it entirely for 7.2 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Georg Schaeffler could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 30.3 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Georg Schaeffler with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.7 years.
Gold
Everyday luxuries
Georg Schaeffler's fortune is equivalent to 123 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Georg Schaeffler could buy 32,896,876 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 6 trucks to transport them. Although Georg Schaeffler will almost certainly have enough money left over to pay for the gas.
Biography
Georg Schaeffler and his billionaire mother, Maria-Elisabeth, own Schaeffler Group, one of the world's largest producers of ball bearings and machine components.
In 2009, he joined his mother. She'd been running Schaeffler after the death of her husband, Wilhelm, who founded the firm with his brother in 1946.
A year before, 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.
Georg and Maria-Elisabeth's combined 46% stake in Continental accounts for most of their wealth.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison