The Schnabel family owns multinational chemical marketing firm Helm AG. Headquartered in Hamburg, Hermann Schnabel acquired the company from its founder Karl Otto Helm in 1950.
Hermann Schnabel ran Helm AG until 1984, then passed leadership of the company over to his his son, Dieter Schnabel. After 28 years as CEO, Dieter Schnabel now serves as Chairman of the Supervisory Board. Dieter’s son, Stephen Schnabel, represents the third generation to sit on the family business’s Executive Board. At the time of his death in 2010, Hermann Schnabel’s net worth was estimated at $3.7 billion. Dieter Schnabel’s net worth is estimated at $1.3 billion. Helm AG sees annual revenue of $4.5 billion.
The Else Schnabel foundation, named after Hermann Schnabel’s wife, promotes German-Czech Relations.
