Heinz Hermann Thiele & family

$12.90 B

Ranked #91 in World

About Heinz Hermann Thiele & family

Heinz Hermann Thiele (1941-2021), a pivotal figure in Germany's automotive and transport technology sector, served as the chairman of Knorr-Bremse AG and Vossloh. With a net worth estimated at $20.2 billion, Thiele was recognized as Germany's fourth wealthiest individual and the major shareholder of Lufthansa AG at the time of his passing. His remarkable journey, from a post-war childhood to becoming an influential business magnate and a recipient of prestigious honors such as the Order of Merit of the Federal Republic of Germany and the Bavarian Order of Merit, exemplifies a legacy of resilience and innovation. Thiele's career milestones include transforming Knorr-Bremse into a global leader and vocally opposing the government's rescue plans for Lufthansa amidst the pandemic. His philanthropic efforts and personal life, intertwined with his professional achievements, left an indelible mark on Germany's economic and social landscape.

Born

April 02, 1941 in Mainz, Hesse, Germany

Died

February 23, 2021 (aged 79)

Source Of Wealth

Brakes

Industries

Construction & Engineering

Citizenship

Germany

Education

LLM, University of Munich

Spouse

Nadia Thiele

Children

Heinz Hermann Thiele was born on April 2, 1941, in Mainz, Germany. During World War II, his family fled from eastern Germany and settled in Vlotho and Minden, now in North Rhine-Westphalia. His father returned from captivity in 1945 and became a notary and lawyer. However, the family's property in Berlin was destroyed during the war, and they grew up with limited financial means. Thiele graduated from high school in 1961 and went on to earn a master's degree in law from Ludwig Maximilian University of Munich.

Heinz Hermann Thiele & family: Family

Thiele was married to Nadia and had two children. His daughter, Julia, is a member of the supervisory board at Knorr-Bremse, while his son, Henrik, founded an electric charging technology startup.

Heinz Hermann Thiele & family: Career Highlights

Thiele joined Knorr-Bremse in 1969 as a patent lawyer and became part of the company's executive board in 1985. He was commissioned to find a buyer when the grandson of founder Georg Knorr wanted to sell shares. With the help of Deutsche Bank, Thiele purchased a controlling stake and became the sole owner. He transformed the company into a market leader in railway and heavy-truck brakes. After becoming CEO in 1987, he initiated structural changes and focused the group on braking technology. In 2007, he joined the company's supervisory board, and in 2018, Knorr-Bremse went public on the Frankfurt Stock Exchange, making it the country's second-largest initial public offering that year. Thiele and his family made $3.6 billion from the public offering. He retired from operational positions in 2016 but returned to the supervisory board as a deputy chairman in 2020.

Thiele also became an activist investor with Lufthansa and expressed dissatisfaction with the government's rescue plan for the airline. During the COVID-19 recession in 2020, he increased his stake in Lufthansa from 10% to 15.5%.

He opposed the government's plan to take a 20% stake in Lufthansa in exchange for a €9 billion bailout. Thiele's labor practices drew criticism from German trade unions, while the business community viewed him as a rail industry tycoon.

Heinz Hermann Thiele & family: Companies

Thiele held a 59% stake in Knorr-Bremse, half of Vossloh AG, and a stake in Lufthansa.

Heinz Hermann Thiele & family: Major Achievements

Thiele transformed Knorr-Bremse from a small company into a global market leader in railway and heavy-truck brakes. He also played a key role in the company's successful initial public offering in 2018.

Heinz Hermann Thiele & family: Awards & Achievements

Thiele received numerous awards and honors, including the Order of Merit of the Federal Republic of Germany and the Bavarian Order of Merit.

Heinz Hermann Thiele & family: Personal Life & Legacy

Thiele died on February 23, 2021, in Munich at age 79. He left behind a legacy as a successful businessman and philanthropist. His contributions to the rail industry and his commitment to social causes will be remembered for years to come.

Heinz Hermann Thiele & family: Trivia

Thiele was known for his love of classical music and art. He was a sponsor of the Bavarian State Opera, Lenbachhaus art museum, Deutsches Museum science and technology museum, and Technical University of Munich.

Wealth History

Timeline

April 2, 1941

Heinz Hermann Thiele is born in Mainz, Germany.

1945

Thiele's father returns from captivity and becomes a notary and lawyer.

1961

Thiele graduates from high school.

1969

Thiele joins Knorr-Bremse as a patent lawyer.

1985

Thiele becomes part of Knorr-Bremse's executive board.

1987

Thiele becomes CEO of Knorr-Bremse and initiates structural changes.

2007

Thiele joins Knorr-Bremse's supervisory board.

2016

Thiele retires from operational positions at Knorr-Bremse.

2018

Knorr-Bremse goes public on the Frankfurt Stock Exchange.

2020

Thiele returns to Knorr-Bremse's supervisory board as a deputy chairman.

February 23, 2021

Heinz Hermann Thiele dies in Munich at age 79.

Heinz Hermann Thiele & family : FAQs

What is Heinz Hermann Thiele's net worth?

As of 2020, Heinz Hermann Thiele's net worth was $12.90 billion.

What are Heinz Hermann Thiele's main sources of wealth?

Heinz Hermann Thiele's main source of income comes from Brakes.

In which industry does Heinz Hermann Thiele primarily operate?

Heinz Hermann Thiele is primarily involved in the Construction & Engineering industry.

What is Heinz Hermann Thiele educational background?

Heinz Hermann Thiele holds a LLM from the University of Munich.

Is Heinz Hermann Thiele dead?

Yes, Heinz Hermann Thiele died on February 23, 2021 (aged 79).

How many children does Heinz Hermann Thiele have?

Heinz Hermann Thiele has 2 children.

Who was Heinz Hermann Thiele and what was his role at Knorr-Bremse AG?

Heinz Hermann Thiele was a prominent German businessman and chairperson of Knorr-Bremse AG, a leading manufacturer of automobile brakes, as well as chairman of Vossloh, a transport technology company.

How did Heinz Hermann Thiele contribute to Knorr-Bremse's market position?

Heinz Hermann Thiele became the sole owner of Knorr-Bremse and transformed it into a market leader in railway and heavy-truck braking systems by focusing the group on braking technology and initiating key structural changes.

What was the significance of Heinz Hermann Thiele's role in Lufthansa AG during the COVID-19 recession?

During the COVID-19 recession, Heinz Hermann Thiele increased his stake in Lufthansa AG from 10% to 15.5% and became an activist investor, opposing the government's plan to take a 20% stake in the airline in exchange for a €9 billion bailout.

What philanthropic efforts was Heinz Hermann Thiele known for?

Heinz Hermann Thiele was known for his philanthropic efforts through Knorr-Bremse Global Care and sponsored notable institutions such as the Bavarian State Opera, Lenbachhaus art museum, Deutsches Museum, and the Technical University of Munich.