What is Michael Stoschek and Family's Net Worth?
Michael Stoschek is a German entrepreneur who shares a net worth of $3.8 billion with his family. Belonging to the third generation of the Stoschek family, he showed an impressive managerial skills and entrepreneurial vision as leader of Brose GmbH & Co. KG. As the grandson of Max Brose, founder of the eponymous German auto-parts supplier, he took over the helm of the company at the age of 23. Ever since, he has transformed the company from being a national manufacturer into an international leader, making and supplying mechatronic components and systems for vehicle doors, seats and body in 23 countries. There are around 22 000 employees who work for the company at 58 locations worldwide. According to reports for the fiscal year 2013, Brose Group generated revenues of 4.7 billion euros ($6.25 billion).
It was at the end of 2005 that Mr. Stoschek ceased to perform the operational management and started to serve as chairman of Brose Group. Also a majority shareholder in the company, he still draws the bulk of his net worth from the performance of Brose GmbH & Co. KG. To date, Michael Stoschek has received a great number of honors like the Initiative Prize of the Industrial Research Foundation; the Merit Cross 1st class from the Federal Republic of Germany's Order of Merit; and the Family Entrepreneur of the Year award among others. Entrepreneurship aside, he also established himself as a winner in competitive sports. He was Bavarian Showjumping Champion two consecutive times in 1992 and 1996. His daughter is an art collector who runs the Julia Stoschek Collection in Dusseldorf.
