Early Life
Erich von Baumbach is a German billionaire and a member of the von Baumbach family, whose wealth is rooted in Boehringer Ingelheim, the world's largest privately-owned pharmaceutical company. The company was founded by Albert Boehringer in 1885. Erich's lineage traces directly back to the founder, making him an heir to the family fortune.
Rise to Success
Erich von Baumbach's career is characterized by his role as a major family shareholder in the governance of Boehringer Ingelheim. He became a member of the Shareholder's Committee in 1992. The company's success is built on continuous, massive investment in R&D and scientific excellence. His wealth is secured by the immense, continuous profitability of the private enterprise, which employs over 50,000 people globally.
Key Business Strategies
The von Baumbach family, along with the Boehringer family, has maintained private ownership of the company, allowing them to focus on long-term, high-risk drug research in essential therapeutic areas like COPD, anti-coagulation, and type 2 diabetes. Boehringer Ingelheim is known for its innovations in respiratory medicine, animal health, and biopharmaceutical contract manufacturing. The company's commitment to research and development has led to breakthrough therapies in various medical fields.
Philanthropy
The Boehringer and von Baumbach families are deeply committed to philanthropy. The Boehringer Ingelheim Foundation funds scientific research and education.