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August Von FinckGerman millionaire
Country:
 Germany |
Content:
Biography of August Von Finck
August Von Finck, a German millionaire, is ranked 83rd in the world by Forbes magazine in terms of wealth. According to the financial specialists at the magazine, his fortune is estimated at around $8.4 billion USD. Despite inheriting the foundation of his wealth from his father, August Von Finck has grown his fortune through financial investments and ventures.
Early Life
August Von Finck was born in 1930 into a German millionaire family. His father was the heir to the large insurance company "Allianz" and the private bank Merck Finch and CO. The bank was founded in 1870 by his grandfather, who also established the insurance company "Allianz" in 1890.
During the annexation of Austria by Nazi Germany, August Von Finck Sr. (the father of the current billionaire) managed to have the Vienna branch of the Rothschild Bank sold to the Merck Finch and CO company. This allowed his father to amass wealth, which he later passed on to his son after his death in 1980. At the time of his death, August Von Finck Sr. was considered the second richest person in Germany.
Career and Investments
In 1990, August Von Finck sold the insurance company and private bank Merck Finch and CO to Barclays Bank, and since then, he has continued to grow his wealth through investments. His main areas of focus include real estate, hotels, the chemical industry, champagne production, and other alcoholic beverages, as well as insurance.
Apart from his companies in Germany, August Von Finck also owns several firms or stakes in Swiss companies, such as Mövenpick Holding A.G. and Von Roll Holding A.G. Additionally, his family owns a quarter of the shares of the international inspection company SGS. Among the numerous positions held by August Von Finck, his membership in the board of directors of Generali Holding Vienna AG, Vienna (AT) since 1974 is considered the most prestigious.
Currently, August Von Finck, who is of German origin, primarily resides in Switzerland at Schloss Weinfelden, a castle built in the 12th century, from where he oversees investment processes and monetary flows. He occasionally visits Russia. He is married and has four children. At the age of 78, August Von Finck continues to be a prominent figure in the world of finance and investment.
