Georg Schaeffler

Georg Schaeffler
Born	19 October 1964 (Forbes) Erlangen, Germany (Forbes)
Nationality	German
Residence	Herzogenaurach, Germany (Forbes)
Occupation	Owner, Schaeffler Group; formerly business lawyer in Dallas
Known for	Schaeffler Group; 2008 takeover of Continental AG
Parents	Wilhelm Schaeffler (father, deceased); Maria-Elisabeth Schaeffler (mother) (Forbes)
Children	4 (Forbes)

German billionaire; majority owner of the Schaeffler Group

Georg Schaeffler (born 19 October 1964) is a German businessman. With his mother, Maria-Elisabeth Schaeffler, he owns the Schaeffler Group, a maker of bearings and machine components; Forbes says he holds 80% and she holds 20%.^[1] Most of the family's wealth comes from its 46% stake in the tyre and car-parts maker Continental AG, which Schaeffler took over in a debt-financed deal in 2008.^[1] On 10 November 2026 the Forbes Real-Time Billionaires list ranked Georg Schaeffler 187th in the world, with an estimated net worth of US$15.2 billion; Forbes lists the source of wealth as auto parts.^[1]^[2] In the annual World's Billionaires list published in 2026, Forbes had ranked Georg Schaeffler 144th, at US$19.2 billion.^[3] In 2009 the Schaeffler Group, heavily indebted after the takeover, sought state aid. Chancellor Angela Merkel ruled it out, and the group refinanced with its banks.^[4]^[5]

Early life and legal career

Forbes gives Schaeffler's birthplace as Erlangen. It says his father, Wilhelm, co-founded the company with his brother in 1946 and that his mother ran it after his father's death.^[1] Forbes reports that Georg Schaeffler practised business law in Dallas. His colleagues learned of his family's wealth only when he first appeared on the Forbes list in 2003.^[1] Sources differ on when he joined the family company. Forbes says it was in 2009.^[1] In a March 2009 interview with Der Spiegel, Schaeffler said he had left his Dallas law firm "two years ago" and had since helped his mother manage the company, commuting between the two continents.^[6]

Continental takeover

Forbes describes the Continental takeover as a US$15 billion, debt-financed deal.^[1] Tire Review, citing Deutsche Welle, put the purchase price at about €8 billion.^[4] Schaeffler told Der Spiegel that the family had bid only slightly above the legal minimum and had intended to hold about 60%. Three days before the extended acceptance deadline, Lehman Brothers collapsed, and the group "suddenly" had to buy another 30% of the shares at €75 each, about €3.8 billion.^[6] He said a banking consortium had provided €16 billion of financing. Asked whether the deal had been a mistake, he replied: "Did we make bad investment decisions? No. Did we take a business risk? Yes."^[6] He added that "given what we know today" the family would not have done the deal.^[6]

2009 debt crisis and request for state aid

Sources give different figures for the group's debt after the takeover. Der Spiegel put it at €11 billion in March 2009, and Tire Review at €22 billion incurred after the merger.^[6]^[4] Tire Review reported in February 2009 that Schaeffler was seeking €3–5 billion in new capital and argued that more than 220,000 jobs were at stake across both companies. Merkel was quoted as saying: "We won't foot the bill for risky company decisions."^[4] Schaeffler told Der Spiegel that there had been only an "exploratory conversation" with the economics minister, Michael Glos, about possible help from the state bailout fund. He argued that government help was not always objectionable for fundamentally healthy firms.^[6] The labour minister, Olaf Scholz, had remarked that "one cannot ask for government assistance in a mink coat"; Der Spiegel put the remark to Maria-Elisabeth Schaeffler in the same interview.^[6] In August 2009 Der Tagesspiegel reported that the group had agreed a refinancing with its creditor banks without state aid. Liabilities of about €12 billion were split between an operating company and a holding company to allow a later merger with Continental.^[5] Asked about the family's private assets, Schaeffler told Der Spiegel that the family was "just as entitled to privacy as anyone else". He said its contribution would consist only of selling shares in the company.^[6]

Recovery

Forbes reports that as the car market recovered, Continental's share price soared. The family's 46% stake in Continental now accounts for most of its wealth.^[1] Forbes quotes Schaeffler as saying of the takeover that luck played a part, but that fortune favours the brave.^[1]

Personal life

Forbes says Schaeffler leads a quiet life in the United States, while his mother lives in Kitzbühel, Austria. It lists his residence as Herzogenaurach, the company's home town, and says he is divorced with four children.^[1]

Wealth

Forbes classes the fortune as inherited and growing and lists auto parts as its source.^[1]

Wealth history

Forbes has included this entry in its annual World's Billionaires list in 23 of the editions from 2001 to 2026 checked for this profile, starting with 2003. The table gives the rank and estimated net worth in each annual list.^[3]^[1]

Forbes estimates by list year
Year	World's Billionaires rank	Net worth (US$ bn)
2003	83	3.8
2004	64	6.1
2005	68	6.3
2006	79	6.8
2007	78	8.7
2008	104	8.5
2009	164	3.5
2011	89	9.8
2012	634	2.0
2013	670	2.2
2014	71	14.3
2015	21	26.9
2016	39	18.1
2017	36	20.7
2018	31	25.3
2019	96	13.4
2020	241	6.3
2021	133	14.9
2022	275	8.1
2023	171	10.2
2024	195	10.9
2025	248	10.6
2026	144	19.2

Political activity

Schaeffler's main recorded political involvement is the family's 2009 approach to the German government for temporary help, which was refused.^[6]^[4]

International and political links

This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."