Wacker is the chairman of Wacker-Chemie, a producer of specialty chemicals including a silicone that's used to make electronics and solar panels. The Munich, Germany-based company has offices in about 32 countries worldwide and 26 production sites. It had revenue of 6.2 billion euros ($7.3 billion) in 2021.
Peter-Alexander Wacker & family's net worth of $6.23B can buy ...
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The majority of Wacker's fortune is derived from his family's majority stake in Wacker-Chemie, a publicly traded chemical manufacturer. He holds shares through two family-owned Munich-based holding companies: Dr. Alexander Wacker Familiengesellschaft and Blue Elephant.
The company's website and 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 51.3% stake and Blue Elephant a 10.9% stake, based on an analysis of company filings. Wacker-Chemie has offices in 32 countries worldwide and 26 production sites, according to its website.
The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.
Christof Bachmair, a spokesperson for Wacker Chemie, declined to comment on the net worth calculation.
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.