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# 178 August von Finck $8.86B

Random fact: Family owns more than 4,000 acres of land in Germany.

Overview

Von Finck owns Finck'sche Hauptverwaltung, a Munich-based investment firm. The closely held business owns stakes in Swiss industrial inspection company SGS, insulation manufacturer Von Roll and the Moevenpick hotel and restaurant chain. He sold family-owned bank Merck Finck to Barclays for $150 million in 1990.

As of :
Last change +$30.4M ( +0.3%)
YTD change +$651M ( +7.9%)
Industry Diversified
Biggest asset Cash
Citizenship Germany
Age 89
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

August von Finck's net worth of $8.86B 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 von Finck's fortune is derived from his holdings in cash and other investable assets, which are based on an analysis of dividends, asset sales, taxes and market performance. He sold his quarter stake in Hochtief, a German construction company, in March 2007, for almost $2 billion to Spanish builder Actividades de Construccion & Servicios. He sold 10 percent of SGS for more than $1 billion in November 2009.

Von Finck's stakes in publicly traded and closely held companies are held directly and through family members. The billionaire is credited with the shares held by family members to reflect his control of his family's Munich-based investment vehicle, Finck'sche Hauptverwaltung. The billionaire holds a 15.5 percent stake in publicly traded SGS and also controls about 67 percent of Von Roll, a Swiss insulation manufacturer.

He acquired in 1992 the majority of Moevenpick Group, a closely held leisure, restaurant and food chain. The group had revenue of 1.5 billion Swiss francs ($1.6 billion) in 2014, the most recent available figure as of May 2019, according to its website. The company's 2018 revenue is calculated to be 1.2 billion Swiss francs based on the revenue growth of peer companies. Its valuation is based on the calculated 2018 revenue and the average enterprise value-to-sales multiple of three publicly traded peer companies: Hyatt, Marriott and Autogrill. The valuation deducts Moevenpick Group's calculated proceeds of about 360 million Swiss francs from the sale of its hotel business in 2018.

Von Finck also controls Custodia Holding, an investment business that traded publicly in Frankfurt. The billionaire took the firm private in 2018 after acquiring its outstanding shares.

Annemarie Thoene, a spokeswoman for von Finck, declined to comment on the net worth calculation.

Biography

Birthdate: 3/11/1930
Family: Married, 4 children

Baron August von Finck was born in Munich, Germany, in 1930. His grandfather, Wilhelm von Finck, had co-founded financial services companies Allianz, Merck Finck and Muenchener Rueckversicherungs. His father, August von Finck Sr., was a banker and one of Adolf Hitler's first supporters. He expanded the Merck Finck private bank in the 1930s through the so-called "Aryanization" of Jewish-owned banks in Germany by the Nazi government. The program removed assets and company ownership from Jewish citizens and transferred it to individuals aligned with the Nazi regime.

Von Finck Sr. received control of the Rothschild and J. Dreyfus banks. Following the Allied defeat of Germany in 1945, von Finck Sr. lost his board positions with the companies his father had founded and control of the banks was returned to their previous owners.

Von Finck Jr. wanted to become a farmer, though he eventually took a banking apprenticeship at Merck Finck. He inherited the bank and became its chief executive officer, following his father's death in 1980. The billionaire sold his stake in the family business for about $150 million to Barclays in 1990. Through Finck'sche Hauptverwaltung, his Munich-based private investment vehicle, Von Finck invested the proceeds into SGS, an inspection company; Von Roll, an insulation manufacturer; and Moevenpick, a hotel and restaurant chain.

Von Finck Jr. lives with his, Francine, in the medieval Weinfelden castle in Switzerland's Thurgau canton. They have four children.

Milestones
  • 1930 August von Finck born in Munich, Germany.
  • 1980 Inherits Merck Fink on father's death and becomes CEO.
  • 1990 Sells Merck Finck stake to Barclays for $150 million.
  • 1991 Begins investing Merck Finck sale proceeds into Swiss companies.
  • 1992 Buys majority stake in Moevenpick, a hotel company, from Prager family.
  • 2002 Becomes largest investor in SGS, the industrial inspection company.
  • 2007 Family wins control over board of Von Roll, a Swiss engineering company.
  • 2007 Sells stake in construction company Hochtief for 1.3 billion euros.
  • 2009 Sells 40 percent of his stake in SGS for one billion Swiss francs.
  • 2016 Half-brother Helmut drops suit over family inheritance after legal battle.