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# 461 Friede Springer $4.48B

Random fact: Company-owned Bild is Europe's best-selling newspaper.

Overview

Springer is the largest individual shareholder and vice chairwoman of Axel Springer, a Berlin-based publisher of books, newspapers and magazines. The publicly traded company's titles include Bild, the largest newspaper in Europe, and Fakt, Poland's biggest daily tabloid. It had revenue of 3.2 billion euros ($3.8 billion) in 2018.

As of :
Last change -$20.8M ( -0.5%)
YTD change +$573M ( +14.7%)
Industry Media & Telecom
Biggest asset SPR GR Equity
Citizenship Germany
Age 77
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Friede Springer's net worth of $4.48B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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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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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Springer's fortune is derived from her 42.6% stake in Axel Springer SE, a Berlin-based media company. She holds the shares directly and through Gesellschaft für Publizistik, a holding company that she solely owns, according to the company's 2018 annual report.

Bild is Europe's largest newspaper and Fakt is the best-seller in Poland, according to the 2018 report.

A June 2019 statement from the company announced that Springer had reached an agreement with buy-out firm KKR ahead of its public takeover of minority shareholders. As part of this agreement, Springer would not sell shares to KKR and would "continue to be involved in Axel Springer SE to the same extent as before".

She's collected more than 800 million euros ($900 million) from dividends and share sales, according to company filings and an analysis of Bloomberg data. The value of her cash investments is based on these proceeds and the effect of taxes and market performance.

Biography

Birthdate: 8/15/1942
Family: Widowed, No children

Springer was born in Oldsum, Germany in 1942. Her father was a gardener and mother a homemaker and she lived with her parents and four siblings on the island of Foehr, near the Danish border.

She resided in London and Madrid as a young adult before taking a job at Axel Springer's home as a nanny in 1965. Axel and Friede maintained a relationship before marrying in 1978. She became his fifth wife.

Following Axel's death in 1985, Friede assumed control of the media company her husband had built with his father, Hinrich Springer. By this time, the group consisted of several publications including German newspapers Bild and Die Welt.

Springer gradually increased her stake in the company by acquiring the shares of minority shareholders including relatives and the Burda family.

Mathias Doepfner, a former music critic and editor-in-chief of Axel Springer's Die Welt newspaper, was appointed chief executive of the company in 2002. He received a gift from Friede Springer in 2012 of close to 2 million shares, worth about 74 million euros ($92 million).

Doepfner said in a conference call in December 2014 that he didn't expect Springer to sell her shares in the company.

A buyout by KKR was announced in June 2019. Springer supported the privatization and intended to retain her stake, according to a Bloomberg News report.

Milestones
  • 1942 Friede Springer nee Riewerts is born in Oldsum, Germany.
  • 1946 Axel Springer and father Hinrich Springer start media company.
  • 1952 Start of Bild newspaper, based on British tabloid Daily Mirror.
  • 1965 Begins work at Axel Springer's home as a nanny.
  • 1978 Marries Axel Springer becoming his fifth wife.
  • 1985 Axel Springer dies. Friede Springer assumes control of company.
  • 2002 Installs Mathias Doepfner as chief executive of Axel Springer.
  • 2015 Company buys 88 percent of Business Insider for $343 million.