Michael Stoschek & family’s profile picture

Michael Stoschek & family

Michael Stoschek & family’s profile picture
Net worth 2018: $1 Billion
Industry: Automotive
Country: Germany
BirthDay: 1947
Children: 2
BIOGRAPHY

Michael Stoschek & family was bornon 1947 in Germany. It's not often that the third generation to lead a family company wins glowing accolades for managerial skill and entrepreneurial vision, but that is certainly the case with Michael Stoschek. The grandson of Max Brose, founder of the namesake German auto-parts maker, Stoschek took over the company in 1971, at the tender age of 23, dismissing his dream of becoming a photographer. Under his leadership, Brose evolved from being a national manufacturer into a world market leader in electrical and mechanical components and integrated systems that are largely invisible to vehicle drivers. "No matter where in the world a car door is opened, a window regulator operated, a car seat adjusted or the air conditioning turned on -- you will almost always find our technology in use," according to the company's website. "At least every third vehicle on the road today is equipped with one or more Brose products." Approximately 24,000 employees work for the company at 60 locations in 23 countries. Annual revenues top $5.7 billion. At the end of 2005, Stoschek withdrew from operational management and became chairman of Brose Group. He has received a host of honors and also made a name for himself in competitive sports: In 1992 and 1996, he was Bavarian Showjumping Champion and in 2006, European Rally Champion in vehicles built up to 1975. He collects rally cars as a hobby. Stoschek also is the chairman of the board and main sponsor of the Brose Baskets, a Bamberg-based basketball team with one of the largest budgets in Europe and seven German championship titles. Michael Stoschek's daughter Julia, who is an active shareholder of the Brose Group, has become a well-known name in the art world with her private collection focused on time-based video art.

NET WORTH STATISTIC
2014

$3.7 Billion

2015

$2.6 Billion

2016

$4.8 Billion

2018

$1 Billion

TIMELINE
2015

As of November 2015, Forbes estimated his net worth at US$2

2007

His daughter Julia Stoschek is an art collector, specializing time-based media art, and runs the Julia Stoschek Collection in Düsseldorf, which opened in 2007, and has two floors of exhibition space, over 2500 m2

1971

Stoschek took charge of Brose Fahrzeugteile in 1971 aged only 23 and grew the company into an international company

1947

Michael Stoschek (born 1947/1948) is a German billionaire businessman, chairman of Brose Fahrzeugteile, the German car parts company founded by his grandfather Max Brose

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