A Legacy of Wealth: Biography of Susanne Klatten
Biography of Susanne Klatten
Susanne Hanna Ursula Klatten, born Susanne Quandt on April
28, 1962, is a prominent figure in the German business world. She is the
daughter of Herbert and Johanna Quandt, renowned industrialists and major
shareholders in BMW.
As of April 2024, Klatten's net worth is estimated at a
staggering US$25.8 billion, making her not only the wealthiest woman in Germany
but also the 50th richest individual globally, according to the Bloomberg
Billionaires Index.
Klatten inherited a substantial portion of her wealth from
her parents, who were influential figures in the German business community. Her
family's holdings include significant stakes in BMW, among other investments. In
addition to her inherited wealth, Klatten has made strategic investments and
ventures of her own, demonstrating her acumen in business and finance. She has
diversified her portfolio beyond automotive interests, with investments in
sectors such as pharmaceuticals, chemicals, and renewable energy.
Susanne Klatten's Path to Business Success
Early Life and Education:
Susanne Klatten was born in Bad Homburg, West Germany, into
a family with significant industrial interests. After completing her education,
she pursued a degree in business finance and embarked on her professional
journey.
Professional Development:
Klatten gained early work experience at the advertising
agency Young & Rubicam in Frankfurt before pursuing further studies in
marketing and management at the University of Buckingham. She then earned an
MBA from IMD Business School in Lausanne, specializing in advertising, which
equipped her with valuable skills and knowledge for her future endeavors.
Business Ventures:
Armed with her education and experience, Klatten ventured
into the world of finance and consulting. She gained valuable insights and
expertise through positions at Dresdner Bank in London, the Munich branch of
management consultants McKinsey, and Bankhaus Reuschel & Co. These roles
allowed her to hone her skills and broaden her understanding of the business
landscape.
Professional Alias:
Throughout her career, Klatten has occasionally operated
under the name Susanne Kant, perhaps as a measure of privacy or to separate her
personal and professional identities.
Susanne Klatten's journey from her early education to her
diverse professional experiences underscores her determination, intellect, and
versatility in the business world, laying the groundwork for her future success
and accomplishments.
Susanne Klatten's Impact on Altana and Beyond
Inheritance of Altana Stake:
Following her father's passing, Susanne Klatten inherited
his significant 50.1% stake in Altana, a leading pharmaceutical and chemicals
manufacturer. This inheritance marked a pivotal moment in Klatten's career,
positioning her as a key player in the industry.
Strategic Leadership at Altana:
Klatten assumed a prominent role on Altana's supervisory
board and played a crucial role in its transformation into a world-class
corporation. Under her guidance, Altana emerged as a prominent entity on the
German DAX list of top 30 companies, a testament to Klatten's strategic vision
and leadership acumen.
Strategic Leadership in Altana:
Utilizing her expertise as an economist with an M.B.A.,
Susanne Klatten played a pivotal role in the transformation of Altana AG, her
grandfather's legacy, into a renowned pharmaceutical and specialty chemical
corporation. Under her guidance, Altana evolved into a world-class entity,
achieving annual sales surpassing $2.5 billion.
Sole Owner and Deputy Chair:
As the sole owner and deputy chair of Altana, Susanne
Klatten wields significant influence in steering the company's strategic
direction and ensuring its continued success in the pharmaceutical and
specialty chemical sectors. Her leadership has propelled Altana to new heights,
solidifying its position as a leading player in the industry.
Investments in Innovation:
Beyond Altana, Susanne Klatten's investment portfolio
includes strategic stakes in cutting-edge ventures. She holds interests in
Entrust, a pioneering company specializing in digital identity and data
security, reflecting her commitment to fostering innovation and technological
advancement. Additionally, her investments extend to SGL Group, a prominent
carbon and graphite producer, further diversifying her portfolio and
contributing to industry innovation.
Strategic Divestiture and Focus:
In 2006, Altana AG made a strategic decision to sell its
pharmaceutical activities to Nycomed for €4.5 billion, streamlining its focus
to specialize in specialty chemicals. This move not only unlocked significant
value for shareholders but also allowed Altana to consolidate its position in
its core business areas.
Investment and Expansion:
Klatten's strategic foresight extended beyond Altana's core
operations. In 2009, she further solidified her position by acquiring almost
all remaining shares in Altana, reaffirming her commitment to the company's
growth and success.
Ventures Beyond Altana:
In addition to her stewardship of Altana, Klatten's
investment vehicle, SKion, also holds significant stakes in various ventures.
Notably, Altana and SKion jointly hold a substantial 46% ownership in Landa
Digital Printing, a pioneering company led by Israeli entrepreneur Benny Landa
in the field of digital printing and nanotechnology.
Susanne Klatten's strategic leadership and investment
prowess have not only propelled Altana to new heights but have also enabled her
to make significant contributions to various sectors, cementing her legacy as a
visionary leader and investor.
Susanne Klatten's Automotive and Industrial Holdings
Inheritance and Expansion in BMW:
Upon her father's passing, Susanne Klatten inherited a
significant 12.50% stake in BMW. However, following her mother's demise in
2015, her ownership in BMW surged to 19.2%. Her familial ties to the company
deepen as she, along with her brother Stefan Quandt, were appointed to BMW's
supervisory board in 1997, solidifying their influence in the automotive giant.
Strategic Investments in SGL Carbon:
Susanne Klatten's strategic investments extend beyond the
automotive sector. She holds options to boost her ownership in SGL Carbon, a
prominent German graphite maker, from 8% to nearly a quarter of the shares.
This strategic maneuver underscores her commitment to diversification and expansion
in key industrial sectors.
Corporate Leadership and Governance:
Klatten's presence on the supervisory boards of both BMW and
SGL Carbon highlights her active role in corporate governance and strategic
decision-making. Her leadership positions empower her to steer these companies
toward sustainable growth and long-term success.
Strategic Vision and Expansion:
With a keen strategic vision and a penchant for prudent
investments, Susanne Klatten continues to expand her influence and portfolio
across automotive, industrial, and other sectors. Her calculated moves and
strategic investments underscore her commitment to driving growth and value
creation across diverse industries.
A Legacy of Wealth: Biography of Susanne Klatten
The Quandt Family's WWII Legacy: Confronting the Past
Documentary Revelation:
The airing of the documentary "The Silence of the
Quandts" in October 2007 shed light on the Quandt family's involvement in
Nazi activities during World War II. This ARD-produced film, which won the
Hanns Joachim Friedrichs Award, exposed the family's use of slave laborers in
their factories and brought their Nazi past to the forefront of public
consciousness.
Confronting the Past:
Following the documentary's revelation, the Quandt family
faced scrutiny and criticism for their historical connections to the Nazi
regime. In response, four family members announced their intention to fund a
research project to investigate the family's activities during Adolf Hitler's
dictatorship. This initiative aimed to confront the family's past and shed
light on their role in Nazi-era atrocities.
Historical Examination:
The independent research project, led by historian Joachim
Scholtyseck and culminating in a 1,200-page study released in 2011, delved into
the Quandt family's wartime activities. The comprehensive report concluded that
the Quandts were deeply entwined with the crimes of the Nazis, highlighting
their culpability in exploiting slave laborers during World War II.
Acknowledgment and Accountability:
Despite the research findings, the Quandt family faced
criticism for their lack of compensation, apology, or memorialization for the
victims of their factories' wartime practices. While BMW, a company associated
with the Quandt family, was not implicated in the report, the family's
acknowledgment of their historical wrongdoing underscored the importance of
confronting and learning from the past to build a more just future.
Susanne Klatten: A Life of Intrigue and Resilience
Kidnapping Attempt:
In 1978, Susanne Klatten and her mother, Johanna Quandt,
narrowly escaped a kidnapping attempt, a chilling reminder of the risks associated
with their prominent status.
Love and Marriage:
Susanne's path crossed with Jan Klatten while she interned
at BMW in Regensburg. Despite her family background, Susanne initially kept her
identity concealed, adopting the alias "Kant." They married in 1990
in Kitzbühel and settled in Munich, eventually welcoming three children into
their family. However, the couple parted ways in 2018.
Professional and Civic Engagements:
Susanne Klatten's commitment to philanthropy is evident in
her various endeavors. She has been a member of the University Council of the
Technical University of Munich since 2005, contributing to educational
advancement and innovation. In recognition of her contributions to society,
Susanne was awarded the Bavarian Order of Merit in 2007. Additionally, despite
her affiliation with the center-right political party, the Christian Democratic
Union, she remains one of its most significant donors, aligning her
philanthropic efforts with her political beliefs.
Susanne Klatten's personal and philanthropic activities
underscore her dedication to making meaningful contributions to society and
advancing causes close to her heart. Through her involvement in education,
civic engagement, and political support, she continues to leave a positive
impact on her community and beyond.
Trial by Blackmail:
In 2007, Susanne Klatten faced a harrowing ordeal when she
became the target of blackmail by Helg "Russak" Sgarbi, a Swiss
national. Sgarbi threatened to expose alleged evidence of an affair, leading to
a highly publicized legal battle. Both Sgarbi and his accomplice, Ernano
Barretta, faced justice for their crimes, serving prison sentences for their
extortion schemes.
Despite the challenges she has faced, Susanne Klatten's
resilience and determination shine through, embodying strength in the face of
adversity and exemplifying a life dedicated to both personal fulfillment and
public service.
Susanne Klatten: Key Events in Her Life
- 1978: Narrow Escape from Kidnapping
Susanne Klatten and her mother narrowly avoided a kidnapping
attempt, underscoring the risks associated with their prominence.
- 1981-1983: Professional Beginnings
Susanne Klatten embarked on her professional journey,
working at the advertising agency Young & Rubicam in Frankfurt, laying the
foundation for her future career endeavors.
- 1990: Marriage and Career Development
Susanne Klatten married Jan Klatten during her internship at
BMW in Regensburg, marking a significant personal milestone while advancing her
career in the automotive industry.
- 1997: Appointment to BMW Supervisory Board
Susanne Klatten, along with her brother Stefan Quandt,
assumed roles on the BMW supervisory board, contributing her expertise to the
governance and strategic direction of the automotive giant.
- 2005: Engagement in Academic Leadership
Susanne Klatten became a member of the University Council of
the Technical University of Munich, leveraging her knowledge and experience to
support academic initiatives and innovation.
- 2006: Altana's Strategic Transformation
Altana AG underwent a strategic transformation, selling its
pharmaceutical activities to Nycomed for €4.5 billion, refocusing its
operations on specialty chemicals under Susanne Klatten's leadership.
- 2007: Recognition and Blackmail Ordeal
Susanne Klatten was honored with the Bavarian Order of Merit
for her contributions to society while enduring a highly publicized blackmail
attempt by Helg 'Russak' Sgarbi, marking a challenging period in her life.
- 2009: Legal Justice and Business Expansion
Helg 'Russak' Sgarbi, the perpetrator of the blackmail
attempt, was arrested and sentenced to six years in jail, while Susanne Klatten
expanded her ownership in Altana, consolidating her control over the company.
- 2012: Conclusion of Legal Proceedings
Ernano Barretta, an accomplice in the blackmailing scheme,
was arrested and sentenced to seven years in prison, bringing closure to the
legal proceedings surrounding the blackmail incident.
- 2015: Increase in BMW Stake
Following her mother's death, Susanne Klatten's stake in BMW
increased to 19.2%, consolidating her position as a significant shareholder in
the automotive industry.
- 2018: Personal Transition
Susanne Klatten and Jan Klatten separated, marking a
personal transition while continuing to navigate her professional responsibilities
and investments.
- 2018: Strategic Investment in Landa Digital Printing
Altana and SKion, entities wholly owned by Susanne Klatten,
became shareholders of Landa Digital Printing, reflecting her ongoing
commitment to strategic investments and technological innovation.
