Bloomberg Billionaires Index

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# 107 Reinhold Wuerth $12.8B

Random fact: Lives in Hermersberg castle, built in the 16th century.

Overview

Wuerth is the owner of the Wuerth Group, a German maker of screws and tools. The Kuenzelsau-based company is closely held, sells its industrial construction materials in about 80 countries and reported revenue of 13.6 billion euros ($16.1 billion) in 2018. It has about 77,000 employees and 3.6 million customers.

As of :
Last change -$34.3M ( -0.3%)
YTD change +$2.74B ( +27.1%)
Industry Industrial
Biggest asset Wuerth Group
Citizenship Germany
Age 84
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Reinhold Wuerth's net worth of $12.8B can buy ...

0
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 the top 200 U.S. executives’ total awarded compensation
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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 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, according to Orbis, a database of company information published by Bureau van Dijk.

The billionaire is credited with the fortune to reflect his role as chairman of the supervisory board of Wuerth Group's family trusts. Wuerth Group has more than 77,000 employees and 3.6 million customers, according to its website.

The Wuerth Group had revenue of 13.6 billion euros ($16.1 billion) in 2018, according to its 2018 annual report, up from 12.7 billion euros in 2017.

The company's valuation is based on 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. It was updated on May 30, 2019 to incorporate 2018 financial results and this led to an increase in the calculation of about $1 billion.

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.

Denis Bernloehr, a spokesperson for the Wuerth Group, didn't respond to requests for comment on the net wealth 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.