Otto Happel Net Worth

7 months ago

Otto Happel was born in 1948 in Luzerne, Switzerland, Germany and studied engineering at RWTH Aachen University. He inherited his father's dust-removal business and turned it into the successful thermal engineering firm GEA. In 1999, he sold his majority stake in GEA for $775 million and kept a 10% interest in the combined group. In 2006, he sold his remaining stake for $700 million. In 2015, he attended the World Economic Forum as chairman of Luserve AG and is an enthusiastic sailor with a yacht named Hetairos. He lives in Switzerland with his wife and six children and has a foundation in his name that supports projects in the developing world.
Otto Happel is a member of Construction & Engineering

Age, Biography and Wiki

Birth Day	February 09, 1948
Birth Place	Luzerne, Switzerland, Germany
Age	75 YEARS OLD
Birth Sign	Pisces
Residence	Lucerne, Switzerland
Alma mater	RWTH Aachen University
Spouse(s)	married
Children	6

💰 Net worth: $2.9 Billion (2024)

Otto Happel, a prominent figure in the field of Construction & Engineering in Germany, is projected to possess a staggering net worth of $2.9 billion by 2024. As a seasoned professional in the industry, Happel has established himself as a prominent entrepreneur, garnering significant wealth through his successful ventures. With his extensive experience and expertise, he has played an instrumental role in shaping the construction and engineering landscape in Germany. Happel's remarkable net worth exemplifies his remarkable business acumen and serves as a testament to his invaluable contributions to the field.

2009 $2.7 Billion

2010 $2.8 Billion

2011 $2.9 Billion

2012 $2.9 Billion

2013 $3 Billion

2014 $3.3 Billion

2015 $2.7 Billion

2016 $2.8 Billion

2017 $2.7 Billion

2018 $3.18 Billion

Biography/Timeline

1974

In 1974, Happel became CEO of GEA Group, a small family Business established by his Father in 1920.

1989

Over the next 25 years, he transformed GEA into a global system supplier and introduced machinery and plants for the food processing industry, Energy industry, air-conditioning and refrigeration industry. After making over 70 acquisitions, GEA had over 200 subsidiaries in 60 countries. In 1989 he took his company public at the Frankfurt stock exchange, but kept the majority of the voting stock in the family. By 1999, Happel had increased GEA's revenues to over €2.56 billion, as well as its net earnings proportionally.

1993

Happel maintains his family office Luserve AG in Lucerne, Switzerland. He served as a member of the supervisory board at Commerzbank from May 1993 until April 2013.

1999

In 1999 he sold his controlling stake to Germany’s MG Technologies, became the major shareholder of MG Technologies and, once MG Technologies was merged into GEA Group AG, sold his remaining stake to institutional Investors in 2006. GEA Group AG is the largest listed German machinery manufacturer and is broadly Diversified. In 2016, it accounted for revenues of approximately EUR 4,5 bn and employed approximately 17,000 people.

2017

As of March 2017, Forbes estimated his net worth at US$2.7 billion.

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Tags 1948 births Living people People from Bochum People from Lucerne RWTH Aachen University alumni German billionaires German chief executives German expatriates in Switzerland