Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#148 Reinhold Wuerth $9.52B

Random fact: Owns an art museum in Schwaebisch Hall, Germany.

Overview

Wuerth is the owner of the Wuerth Group, a closely held manufacturing business based in Kuenzelsau, Germany. The company makes industrial construction materials such as tools, screws, dowels, cables and lighting. Wuerth inherited the family business in 1954 and grew its revenue to 11 billion euros ($12.3 billion) in 2015.

As of July 22, 2017:
Last change +$29.3M (+0.3%)
YTD change +$1.63B (+20.6%)
Industry Industrial
Biggest asset Wuerth Group
Citizenship Germany
Age 82
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Reinhold Wuerth's net worth of $9.52B 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:

The majority of Wuerth's fortune is derived from his control of the Wuerth Group, a closely held manufacturer of screws and other building supplies. He controls the stake through a series of family trusts, which are held in the name of his three children. The billionaire is credited with the fortune because, in his role as chairman, he controls the company's operational and strategic decisions.

The Wuerth Group had revenue of 11 billion euros ($12.3 billion) and net income of 434 million euros in 2015, according to the company's annual report, which is published on its website. The company's valuation is based on its 2015 financials and the average of the enterprise value-to-Ebit and enterprise value-to-Ebitda multiples of three publicly traded peers: Stanley Black & Decker, Snap-on and Masco.

Wuerth purchased “The Madonna With the Family of Mayor Meyer” for more than $70 million in 2011, the highest price ever paid for an artwork in Germany. It's part of an art collection that contains more than 15,000 pieces, which is worth at least $500 million, according to a person familiar with the collection who asked not to be identified because its value is private.

Janina Knab, a Wuerth Group spokeswoman, declined to comment on the net worth calculation.

Biography

Birthdate: 4/20/1935
Family: Married, 4 children
Education:

Reinhold Wuerth was born in Oehringen, Germany in 1935, to Alma and Adolf Wuerth. His parents started a screw selling business in Kuenzelsau, Germany, in July 1945. He quit high school at age 14 to join the family business, inheriting the company after his father's death five years later.

When he took control in 1954, the company had $100,000 in sales. Global expansion followed and by 1988 revenue reached $1 billion. He stepped down as CEO in 1994 and became chairman of the company's supervisory board. His daughter, Bettina, took over his board position in 2006, when Wuerth was named honorary chairman.

The billionaire lives with his wife, Carmen, and the couple has three children. They have an art collection of more than 15,000 works and opened the Kunsthalle Wuerth museum in 2001 to display part of the collection to the public.

Milestones
  • 1935 Born in Kuenzelsau, Germany.
  • 1945 Father Adolf starts a screw wholesale company in Kuenzelsau.
  • 1949 Becomes the second employee of his father's company, aged 14.
  • 1954 Adolf dies; Wuerth inherits company at age 19.
  • 1962 Sets up company's first foreign office in the Netherlands.
  • 1987 Creates Wuerth Foundation with his wife Carmen.
  • 1994 Steps down as CEO and becomes chairman of the advisory board.
  • 2001 Wuerth Museum opens and holds first exhibition.