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      06-21-2019, 05:29 PM   #1
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BMW Billionaire Heirs Say Their Lives Are Harder Than You Think

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Originally Posted by Bloomberg
Dealing with the responsibility and jealousy from inheriting wealth is a misunderstood burden, according to Susanne Klatten and Stefan Quandt, the billionaire siblings who together own almost half of BMW AG.

“Many believe that we are permanently sitting around on a yacht in the Mediterranean,” Klatten told Manager Magazin in a rare interview with her younger brother published Thursday. “The role as a guardian of wealth also has personal sides that aren’t so nice.”

Klatten -- whose father Herbert Quandt helped rescue BMW in the late 1950s -- is Germany’s second-richest person with a fortune valued at $18.6 billion, according to the Bloomberg Billionaires Index. She has also built up holdings in chemicals company Altana AG and carbon producer SGL Carbon SE.

Quandt, who owns stakes in logistics company Logwin and homeopathic medicine company Heel, has a net worth of $15.5 billion. Both he and his sister have seats on BMW’s supervisory board.

“For both of us, it’s certainly not the money that drives us,” said Quandt. “Above all, it is the responsibility of securing jobs in Germany.”

The two heirs say they’re comfortable with their roles, but initially struggled with taking on high-level positions at young ages. Quandt, who was 30 when he was given his first board seat, said he might have wanted to work a few years as a “simple” product manager somewhere or study architecture.

“My starting point was never: So, now I come and show everyone how it’s done,” said Quandt, who questions the rationale of inheritance tax. “Instead, it was a constant questioning, associated with self-doubt.”

Klatten, who gained notoriety in 1978 when police foiled a plot to kidnap her and her mother Johanna, said that wealth redistribution doesn’t work and that a fair society allows people to pursue opportunities according to their abilities.

“Our potential stems from the role of being an heir and developing that,” she said. “We work hard on that every day.”
Source:https://www.bloomberg.com/news/artic...than-you-think
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      06-21-2019, 06:30 PM   #2
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Well duh their lives are hard. You can be rich and privileged and still have a hard life. Not rocket science, people. You're just envious.
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      06-21-2019, 07:55 PM   #3
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Are we supposed to take the bait and pillory the ultra-wealthy for acknowledging the real difficulties in dealing with their complicated, high-pressure lives? I don't begrudge them for any reason. He said there are dark personal sides to dealing with being born into extreme wealth and a "family business" that happens to be a huge multinational corporation, and he's 100% right, I am sure.
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      06-21-2019, 10:00 PM   #4
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I find the whole "they inherited their wealth, so let's tar and feather them" schtick particularly elementary and tiresome.
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      06-22-2019, 07:27 PM   #5
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Uh huh... Tough life I'd bet. He says stuff like, “For both of us, it’s certainly not the money that drives us,” said Quandt. “Above all, it is the responsibility of securing jobs in Germany.” Yet BMW has been building cars in several different countries for over 40 years....

Whatever...
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      06-22-2019, 09:31 PM   #6
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“Many believe that we are permanently sitting around on a yacht in the Mediterranean,”

ok most of the time.. we got it..
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      06-22-2019, 09:57 PM   #7
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News flash: absolutely no one thinks about them.
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      06-22-2019, 10:25 PM   #8
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“Many believe that we are permanently sitting around on a yacht in the Mediterranean,”

ok most of the time.. we got it..
LOLOLOL!!!!!
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      06-22-2019, 11:06 PM   #9
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well, if they were raised right, the feel of responsibility should be crushing.

It's not like car maker is in the age where they can just sit and let things go on autopilot and it would be fine. They're getting assaulted from all front and certainly don't want to end up being the cell phone maker equivalent of the new world.
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      06-23-2019, 03:33 AM   #10
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A bit off topic but this reminds me of the time when I went to BMW Welt a few years ago and saw Johanna Quandt there and then saw her being driven away in an i8!

(Poor quick photo!)

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      06-23-2019, 09:46 AM   #11
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Or follow what Warren Buffett did with his kids. It's one thing to have stress/pressures in your life. It's another to deal with just living. I'm sure there are always people more destitute than others. It's a totally different hardship when you're facing just having a meal a deal versus the "pressures" of wealth.

Reminds me of the stupid coined defense used to defend that wealthy kid killing 4 people driving drunk...affluenza indeed.
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      06-23-2019, 09:59 AM   #12
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Quote:
Originally Posted by Efthreeoh View Post
Uh huh... Tough life I'd bet. He says stuff like, “For both of us, it’s certainly not the money that drives us,” said Quandt. “Above all, it is the responsibility of securing jobs in Germany.” Yet BMW has been building cars in several different countries for over 40 years....

Whatever...
"It's certainly not the money that drives us"

lol that's easy to say when you are a billionaire
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      06-23-2019, 11:19 AM   #13
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Quote:
Originally Posted by allinon72 View Post
I find the whole "they inherited their wealth, so let's tar and feather them" schtick particularly elementary and tiresome.
I have no problem with inherited wealth, but for someone in his and her positions to try and say their lives are stressful is a bit of a laugh. Smart people with hard-earned money never risk enough of it to drop a level of lifestyle.
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      06-23-2019, 12:23 PM   #14
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Quote:
Originally Posted by Efthreeoh View Post
I have no problem with inherited wealth, but for someone in his and her positions to try and say their lives are stressful is a bit of a laugh. Smart people with hard-earned money never risk enough of it to drop a level of lifestyle.
I think it's a different level of stress. Our stress comes from the fact that our lives are completely reliant on our job. We need to work in order to live and survive. For the Quandt's, their stress is not lifestyle or money related but how do they keep BMW running.

On the surface, working society can sit back and judge billionaires thinking they're not doing much of anything, instead they're on a yacht somewhere spending their billions. Once you become part of the 1%, the stress is not where the next pay cheque is coming from, it's how are you going to protect the very thing you built. I am sure we all know people who run small, medium and large businesses - Some successful, some not so successful. Regardless, those people will tell you it's not easy and hard work even if they are pulling in the cash.

Last edited by TheBingoBalls; 06-23-2019 at 08:10 PM..
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      06-23-2019, 12:33 PM   #15
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lol why not just stay in your lane.
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      06-23-2019, 02:25 PM   #16
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      06-23-2019, 02:40 PM   #17
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If you feel the stress and responsibility of the loves of your family, consider the stress and the weight of thousands of families due to decisions you may make or not make. While some are cold enough not to care about the lives of others; I think it’s telling about a persons character when they feel the true weight of their decisions.
Wealthy or not, life is all about personal responsibility and accountability. I don’t care what certain politicians try to tell you.
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      06-23-2019, 04:20 PM   #18
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Quote:
Originally Posted by Mani59 View Post
A bit off topic but this reminds me of the time when I went to BMW Welt a few years ago and saw Johanna Quandt there and then saw her being driven away in an i8!

(Poor quick photo!)

I was at the Welt building today, unfortunately it was closed. The museum was great though. No sign of Johanna...
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      06-23-2019, 08:45 PM   #19
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No matter what you have - it's human nature to want more or something else eventually. Only happy rich ppl I know came from poverty and worked their asses off. Inherited wealth is absolutely a double edged sword.
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