The Schaeffler family is the 100 per cent owner of the Schaeffler Group, one of the largest manufacturers of rolling bearings. The Group also controls Continental, the world’s fourth-largest OEM manufacturer of auto parts. In 2018, Forbes ranked Georg Schaeffler as the world’s 30th wealthiest person, with an estimated net worth of $29.1 billion. Georg’s father Georg Sr. co-founded the family business, INA, alongside his brother Wilhelm in 1946. Their big break would come three years later when their invention of the needle roller cage would prove to be a reliable component for industrial applications. In 1963, Georg married a woman named Maria-Elisabeth and, together, they set roots in the Bavarian region of Herzogenaurach. Upon Georg’s passing in 1996, Maria-Elisabeth Schaeffler assumed control of the family business. She currently holds a 20 per cent ownership stake in the Schaeffler Group, while Georg Jr. owns the other 80 per cent. Georg Jr. heads the supervisory board for the Schaeffer Group and sits on the supervisory board for Continental. The family seeks to continue its track record of success by focusing on the challenges of tomorrow. The Schaeffler Group recorded nearly 2,400 patent registrations in 2017, making the family business Germany’s second-most innovative company according to the German patent office.
