What is Georg Stumpf’s Net Worth?
Georg Stumpf, an Austrian builder and real estate investor, has an estimated net worth of $12.55 billion. The primary sources of Stumpf’s wealth are real estate and construction. His biggest asset is Exyte, a high-tech EPC construction firm based in Stuttgart, Germany, specializing in semiconductors.
Stumpf’s portfolio also includes significant real estate investments, such as the Millennium Tower in Vienna, which he built and later sold for 145 million euros in 2003.
Stumpf founded the Stumpf Group with a modest loan of $35,000 from his father in 1994. His wealth has grown substantially over the years, with a notable increase of $4.65 billion in 2023 alone.
Here’s the breakdown of Georg Stumpf’s net worth:
Name: | Georg Stumpf |
Net Worth: | $12.55 Billion |
Date of Birth: | 29 March 1972 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Georg Stumpf was born on September 14, 1972, into a wealthy and influential family in Austria. His father, Georg Stumpf Sr., was a successful entrepreneur and a close friend of former Austrian Federal Chancellor Franz Vranitzky. Stumpf Sr. was known for his significant contributions to Austrian infrastructure, including the construction of the Wiener Stadthalle and the ORF Center Küniglberg. Georg Stumpf Jr. attended the HTL in Vienna, where he completed his secondary education.
He then pursued higher education at the Vienna University of Economics and Business, earning a master’s degree in business administration between 1991 and 1993. Although he also studied law, he did not complete his law degree, missing just one exam.
Career
Georg Stumpf’s career in real estate and construction began in 1994 when he founded the Stumpf Group with a $35,000 loan from his father. His first major project was the Millennium Tower in Vienna, which he built with the support of a banking consortium.
Completed in 1999, the Millennium Tower was the tallest building in Vienna at the time. Stumpf sold the tower in 2003 for 360 million euros, a significant profit over its construction cost of 145 million euros.
Over the years, Stumpf expanded his business interests, establishing offices in London and Budapest by 2006. He also ventured into industrial investments, acquiring a majority stake in the Swiss industrial group OC Oerlikon in 2005, alongside other Austrian entrepreneurs and later with Russian oligarch Viktor Vekselberg. Stumpf eventually took over the German high-tech group M+W Zander (now Exyte) and founded the solar technology company intico solar in 2007.
Controversies
Georg Stumpf’s career has not been without controversy. One notable incident involved the acquisition of Sulzer AG, where Stumpf and his partners were accused of violating the Swiss Stock Exchange Act by failing to comply with reporting requirements. In 2009, the Swiss Financial Market Supervisory Authority (FINMA) filed a criminal complaint against Stumpf, Pecik, and Vekselberg. The case was dropped in 2010 in exchange for a compensation payment of ten million Swiss francs.
Another controversy arose in January 2010 when Stumpf, Pecik, and Vekselberg were fined 40 million Swiss francs each for allegedly failing to report the sale of Oerlikon shares. However, they were acquitted by the Swiss Federal Criminal Court later that year, and the fines were canceled.
Personal Life
Georg Stumpf is known for his private nature and low profile. He and his partner, Patricia Schalko, have two sons.
In 2007, the couple built a luxury villa in the upscale Viennese district of Döbling, styled after an Italian palazzo, at a cost of around 15 million euros. Despite their long-term relationship, Stumpf and Schalko eventually separated after 18 years together.
In his leisure time, Stumpf enjoys playing golf and has won several junior championship titles in Austria.
He is the owner of an Airbus A319 and a Bombardier Global Express jet.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
