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#262 Aloys Wobben $6.04B

Random fact: Built first wind turbine with Meinhard Remmers, a fellow student.

Overview

Wobben founded Enercon, the world's seventh-largest wind turbine company. The Aurich, Germany-based company makes turbines and generators, and offers grid integration and wind farm management. Enercon's parent company had revenue of 4.5 billion euros ($5.3 billion) in 2015 and about 5 percent of the global turbine market.

As of July 23, 2017:
Last change +$91.5M (+1.5%)
YTD change +$943M (+18.5%)
Industry Energy
Biggest asset UEE Holding
Citizenship Germany
Age 64
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Aloys Wobben's net worth of $6.04B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Wobben's fortune is derived from his control of Aurich, Germany-based UEE Holding, the parent of Enercon. Closely held Enercon was the world's seventh-largest wind turbine company, according to its website in April 2017. His shares in the company have been held through the Aloys-Wobben-Stiftung since 2012.

UEE Holding had revenue of 4.8 billion euros ($5.3 billion) in 2015, according to its financial results published on Bundesanzeiger, Germany's federal gazette. It's valued using its 2015 financials and the average enterprise value-to-sales and price-to-earnings multiples of two publicly traded peer companies: Vestas and Nordex. The valuation was updated on April 20, 2017 to add price-to-earnings, remove outlier peer Gamesa Corp and include the 2015 financials, which are the latest available as of this date.

Felix Rehwald, a spokesperson for Enercon, declined to comment on the net wealth calculation.

Biography

Birthdate: 1952
Family: Unknown, No children
Education: University of Oldenburg, Bachelor's Degree

Aloys Wobben was born in Rastorf, Germany, in 1952. He studied electrical engineering at Germany's Technical University of Braunschweig. While serving as a student assistant in the renewable energy department in 1975, he developed his first wind turbine with Meinhard Remmers, a fellow classmate. Wobben set up the wind power equipment manufacturer Enercon in Aurich, Germany, in 1984.

Over the next three decades, he built the closely held company into the world's fourth-largest wind power equipment manufacturer, controlling almost 50 percent of the wind turbine market in Germany, and about 10 percent worldwide. Wobben retired as Enercon's CEO for health reasons in 2012, and moved his holdings into a trust to preserve the independence of the business.

Milestones
  • 1952 Aloys Wobben is born in Rastorf, Germany.
  • 1975 Develops his first wind turbine with Meinhard Remmers, a fellow student.
  • 1984 Founds Enercon in Aurich, Germany, and builds company's first wind turbine.
  • 1992 Completes first company-owned production facility.
  • 2006 Receives honorary doctorate from University of Kassel.
  • 2007 Builds new headquarters in Aurich, Germany.
  • 2008 Awarded the Rudolf Diesel Medal from the German Institute for Inventions.
  • 2012 Retires as CEO for health reasons and moves his Enercon shares into a trust.