[ad_1]
The majority shareholders of Continental, a German auto parts manufacturer, lost about $ 16 billion this year, compared to their total assets.
The head of the continental council, Georg Schaeffler, and his mother, Maria-Elisabeth Schaeffler Thumann, acting as vice-president of this council, lost 53% of the shares after the company warned that the additional costs and economic boom in Europe and Asia would reduce its profits. The company's management will also warn that these deposits will also continue over the next year.
Both are now estimated at $ 14.1 billion in the Bloomberg Bilbergaires index, after the largest decline in its value in the wealthiest European families. The mother and son control these companies from Schaeffler AG, which has brass similar to Continental, the world's second largest auto parts manufacturer. The stock price of these two companies has fallen by more than 40% this year.
Georg Schaeffler, 54, is now ranked 113th in the list of the richest landowners and Germany has the largest number of billionaires in Europe.
[ad_2]
Source link
