Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, June 25, 2019

BMW Heirs Claim to not be Driven by Wealth

BmwThe two siblings that inherited the majority stake of Germany care company BMW claim that inheriting that much wealth is not as amazing as the media makes it out to be. 

Susanne Klatten, 57, is the richest woman in Germany with a net worth of an estimated $19.8 billion, according to Forbes, and owns 19.2% of BMW. She is also the owner and deputy chairman of Altana, a chemicals company, and holds stakes in wind power company Nordex AG and graphite-maker SGL Group. Klatten’s brother, Stefan Quandt, 53, owns 23.7% of BMW and is worth an estimated $16.7 billion. He says that it is not the money that drives them to be successful, but rather that, “Above all, it is the responsibility of securing jobs in Germany.” Klatten stated that “The role as a guardian of wealth also has personal sides that aren’t so nice.”

The siblings' interview was published this week in Bloomberg.

See Kathleen Joyce, BMW Heirs Claim to not be Driven by Wealth: Report, Fox Business, June 22, 2019.

https://lawprofessors.typepad.com/trusts_estates_prof/2019/06/bmw-heirs-claim-to-not-be-driven-by-wealth.html

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