Bloomberg Billionaires Index

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#385 Peter-Alexander Wacker $4.76B

Random fact: Hobbies include collecting elephant figurines.

Overview

Wacker is chairman and majority shareholder of Wacker-Chemie, a producer of specialty chemicals, such as silicones, polymers and biosolutions. The Munich, Germany-based company has production sites in more than 20 cities worldwide and employs 13,500 people, and had revenue of 5.3 billion euros ($6 billion) in 2016.

As of July 27, 2017:
Last change +$9.34M (+0.2%)
YTD change +$676M (+16.6%)
Industry Industrial
Biggest asset WCH GY Equity
Citizenship Germany
Age 66
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Peter-Alexander Wacker's net worth of $4.76B 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
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Wacker's fortune is derived from his majority stake in Wacker-Chemie, a publicly traded chemical manufacturer. He holds shares through two family Munich-based holding companies: Dr. Alexander Wacker Familiengesellschaft and Blue Elephant. Wacker is credited with all of the shares held by these two closely held companies to reflect his status as chairman of Wacker-Chemie.

The company's website, as of May 2017, and 2016 annual report don't provide share counts of the major holders. They put Dr. Alexander Wacker Familiengesellschaft's holding at "over 50 percent" and Blue Elephant's at "over 10 percent". In this analysis, Dr. Alexander Wacker Familiengesellschaft is attributed a 55.6 percent stake and Blue Elephant a 10.9 percent stake as of Dec. 31, 2016, based on information disclosed on the Orbis database, published by Bureau van Dijk.

The billionaire also owns the 46-meter (150 feet) superyacht, Ganesha. It's valued based on discussions with a person familiar with the asset and the shipyard that built it who asked not to be identified because the information is private.

The value of his cash investments is based on an analysis of insider transactions, taxes, market performance and dividends.

Christof Bachmair, a spokesperson for Wacker Chemie, declined to comment on the net wealth calculation.

Biography

Birthdate: 2/10/1951
Family: Married, No children

Peter-Alexander Wacker was born in Tegernsee, Germany on Feb. 10, 1951. He's the great-grandson of Alexander Wacker, who founded Wacker Chemie in 1914. Peter-Alexander studied in Vienna, Geneva and Munich and received a Master's degree in business administration before starting work at BMW AG in 1978.

Prior to joining his family's business, Wacker was responsible for BMW's strategic corporate and product planning. He founded technology and management consulting company TMG in 1992 and was appointed to the supervisory board of Wacker Chemie a year later.

Wacker Chemie started producing acetic acid and acetone in 1916, became part of the industrial conglomerate IG Farben 10 years later, and began making the raw materials for adhesives and plastics in 1935. The family re-claimed a majority stake in the company in 1952.

The billionaire was appointed president and chief executive officer of Wacker Chemie in 2005, a year before it became publicly traded. He lives in Ulm, Germany with his family.

Milestones
  • 1914 Alexander Wacker founds Wacker Chemie.
  • 1917 Company opens first ever large-scale production of acetaldehyde.
  • 1951 Dr. Peter-Alexander Wacker is born in Tegernsee, Germany.
  • 1983 Wacker Chemicals East Asia is founded in Tokyo.
  • 2005 Peter Alexander Wacker becomes president and CEO of Wacker Chemie.
  • 2006 Wacker Chemie becomes publicly traded in Germany.
  • 2008 Is appointed chairman of the supervisory board of Wacker Chemie.
  • 2014 Wacker Chemie celebrates its centennial.