Bloomberg Billionaires Index

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#424 Bruno Schroder $4.47B

Random fact: Can use his baronage title in Germany, not in England.

Overview

Schroder is a director and the majority shareholder of Schroders, a publicly traded asset manager. The London-based company employs more than 4,000 people and had more than 416 billion pounds ($520 billion) under management as of March 31, 2017. The billionaire has had a seat on the company's board for more than 50 years.

As of July 24, 2017:
Last change -$3.74M (-0.1%)
YTD change +$557M (+14.2%)
Industry Finance
Biggest asset SDR LN Equity
Citizenship United Kingdom
Age 84
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Bruno Schroder's net worth of $4.47B can buy ...

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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
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Misc. liabilities
Confidence rating:

The majority of Schroder's fortune is derived from his family's majority stake in London-based Schroders, a publicly traded money manager. Regulatory filings detailing the interests held by the family indicate that Schroder controls 34.2 percent of the ordinary shares in the company.

He owns the shares through two family holding companies, Flavida and Fervida, which are based in the island of Jersey, a crown dependency of the U.K. The holding companies own 100 million ordinary shares in total, according to the 2016 annual report. Of these, 27 million shares aren't credited to Schroder as they are exclusively held by his sister Charmaine and family, according to stock market filings. Schroder also has about 1.5 million non-voting shares, according to the company's 2016 annual report.

Schroder's father, Helmut, purchased the 16,500-acre Dunlossit estate and mansion on the Isle of Islay in Scotland in 1937. It serves as the billionaire's residence. The family also owns the world's largest private collection of silver antiques from the German Renaissance period. Neither of these assets are included in the valuation because of a lack of available financial information.

Emma Holden, a spokeswoman for Schroders, said Schroder declined to comment on his net worth.

Biography

Birthdate: 1/17/1933
Family: Separated, 1 child
Education: 1960, Harvard Business School, MBA

Baron Bruno Lionel Schroder was born on Jan. 17, 1933. He is the great-great-grandson of Johann Heinrich Schroder, a native of Hamburg, who set up investment firm J. Henry Schroder in London, in 1818. His great-grandfather, John Henry Schroder, was awarded a baronage from the king of Prussia in 1868, the family's first member to receive the honor. The billionaire inherited the title, which is recognized only in Germany, upon the death of his father, Helmut, in 1969.

Schroder's grandfather also received a baronage from Germany's Kaiser Wilhelm II, in 1904. Days after the start of the World War I, Bruno gave up the title to become a naturalized British citizen, avoiding arrest in the U.K. and the possible seizure of the bank as enemy property.

Schroder studied at Eton before getting an honors degree in Politics, Philosophy and Economics at Oxford University. He served in the Life Guards, an elite British army regiment, before joining Schroder Gebrueder Bank in Hamburg. He got an MBA from Harvard University in 1960, and three years later joined the family firm, which had become a fund manager. It was renamed Schroders in 1957, and listed on the London Stock Exchange in 1959.

Schroder never played much more than a part-time, ambassadorial role at the fund management company, serving as a non-executive director and member of the nominations committee. His role is described in one paragraph in the bank's semi-official history, "Schroders, Merchants and Bankers," by Richard Roberts, a professor at Sussex University. He maintains an office at its London headquarters and a townhouse in London, and spends part of the week at the family's 16,500-acre estate at Dunlossit on the Scottish island of Islay.

Schroder piloted his own plane around the world in 1988, and flies regularly to and from London. He married Patricia Holt in 1969. They had a daughter, Leonie, in 1974. The couple is now separated; they haven't divorced because Holt is a devout Catholic.

Milestones
  • 1933 Bruno Lionel Schroder is born.
  • 1951 Serves two years with Queen's Life Guards in London.
  • 1954 Starts job at Schroder Gebrueder Bank in Hamburg.
  • 1960 Graduates from Harvard Business School with an MBA.
  • 1963 Appointed as a director at Schroders.
  • 1969 Marries Patricia Holt. They have a daughter, Leonie, five years later.
  • 2000 Sells investment banking arm to Citibank for 1.35 billion pounds.
  • 2013 Schroders acquires asset manager Cazenove for 424 million pounds.