Early Life
Georg Friedrich Wilhelm Schaeffler was born on October 19, 1964, in Erlangen, Germany. He is the son of Georg Schaeffler and Maria-Elisabeth Schaeffler-Thumann. His father Georg, along with his uncle Wilhelm, founded Industrie GmbH, which later became the Schaeffler Group, in 1946. Georg served in the German armed forces, rising to the rank of lieutenant.
Rise to Success
Schaeffler studied business and economics at the University of St. Gallen in Switzerland from 1986 to 1990. He worked within the Schaeffler Group from 1990 to 1996. Later, he earned a law degree and a master's from Duke University and practiced international business law in Dallas, Texas. Georg played a key role in expanding the Schaeffler Group through strategic acquisitions including LuK GmbH in 1999, FAG Kugelfischer in 2002, and Continental AG in 2008.
Key Business Strategies
A significant strategy was the acquisition of Continental AG, which expanded the Schaeffler Group's influence in the automotive sector. Schaeffler focused on innovation and technological advancements, which led to numerous patent registrations and strengthened the company's market position.
Philanthropy
Information on the specific amounts and initiatives of Georg Schaeffler's philanthropy is not readily available through search. However, as of March 2020, Georg Schaeffler's combined wealth with his mother was estimated at US$34 billion, highlighting the potential for significant philanthropic contributions.