Johanna Quandt Net Worth & Biography

Johanna Quandt was the matriarch of the family that still control the German auto giant BMW and one of the richest people in Germany. She died in Bad Homburg, Germany, in August 2015 at the age of 89.

Ms. Quandt was the third legally married wife of Mr. Herbert Quandt, a German businessman whose financial support enabled BMW to resist a takeover bid in 1959, helping to set the stage for the auto company to become one of the best-known car brands in the world and a symbol of German engineering. Ms. Quandt, who Forbes magazine ranked as the 77th wealthiest person in the world in 2015, left a fortune of more than 12 billion dollars behind when she died. She replaced her husband on the BMW supervisory board after his demise in 1982 and went on to establish the family as a powerful force in the company, which is headquartered in Munich, Germany. At her death, Ms. Quandt owned an almost 17 percent stake in BMW. Her two children with her late billionaire husband also own significant stakes: Susanne Klatten owns 12.6 percent while Stefan Quandt owns 17.4 percent. Ms. Klatten and Mr. Quandt also hold significant positions on the BMW supervisory board. According to Forbes, Ms. Klatten is the current richest woman in Germany.

Life & Career

She was born Johanna Bruhn in Berlin, Germany, on June 21, 1926. Her father was an art historian.

Trained as a medical assistant, Johanna began working in the office of Mr. Herbert Quandt in the 1950s. Mr. Quandt was the scion of a German industrial family whose investments included Varta, a maker of batteries. They married in 1960, and when he passed, Johanna inherited a significant portion of her husband’s holdings.

She was a member of the BMW supervisory board for fifteen years from 1982 to 1997, most of that time, serving as a deputy chairwoman. She has been described as a warm and uncomplicated person who actively led the development of the automaker for many years.

Ms. Quandt, who lived in Bad Homburg, near Frankfurt, was also known for her inclination to philanthropy and community support. She established a foundation, named after her, that serves the public by providing training to aspiring business journalists. The foundation also awards prizes for outstanding business journalism.

Though BMW stock is publicly traded, the Quandt family investment has provided the company with a level of independence from outside shareholders and enabled it to pursue initiatives that weren’t immediately profitable, like a push into producing battery-powered vehicles.

Personal Life: Family, Children, Demise

Johanna Quandt’s marriage to Herbert Quandt resulted in the birth of two children, Stefan and Susanne. Her children are also substantial shareholders in BMW and currently sit on the supervisory board of the company.

Johanna lived quietly in Bad Homburg where she died in August 2015 at the age of 89.  In 2009 she received the Grand Cross of Merit for her roles in the community and also in business.

Salary, Income Sources

The late Johanna Quandt was a German businessperson and family woman who had a net worth of 12.8 billion dollars at the time she died in 2015. The size of her bank account during her last days was enough to include her among the wealthiest people in Germany. Born in Germany, Johanna Quandt was brought up in respectable cities in the country where she also completed her education. When she had graduated, she received an offer to work as a secretary and personal assistant to the German industrialist Herbert Quandt, who went on to helm BMW. She later married the businessman, and the rest, as they say, became history.

The majority of Johanna Quandt’s net worth was earned from the shares of various companies which she inherited from her husband upon his passing. She and her two children inherited Herbert Quandt’s shares of BMW and she served on BMW’s Board of Supervisors for more than fifteen years, owning nearly 17% of BMW at the time of her passing.

Mrs. Quandt will surely be remembered for years to come for her unmatched support for many philanthropic causes. She was active in foundations concerned with various child cancer institutes and research facilities. Also, she was politically active, and her remarkable roles in business, philanthropy, and politics, earned her a deserved honor from the German government for her involvement in various learning and journalism initiatives. Her son and daughter are currently seated on the board of BMW, and also own significant shares in the company, in addition to shares in other successful German corporations. Their combined fortune makes them one of the wealthiest families in Europe.