The automotive industry has long been considered a male-dominated sector. Still, a closer look reveals a trio of formidable women who have excelled in this industry and amassed considerable fortunes.
Defying age-related stereotypes, these dynamic women, aged 61, 80, and 82, exemplify unwavering success in the automotive industry. With a combined wealth of $38.5 billion, they highlight enduring influence, showcasing that prowess and innovation know no bounds.
According to Forbes, Here are the top three female billionaires in the automotive world as of March 8
Susanne Klatten
With an impressive net worth of $26.4 billion, Susanne Klatten is a highly influential figure in the automotive industry. Born 1962 in Bad Homburg, Germany, Klatten is the daughter of renowned industrialists Herbert and Johanna Quandt. Her significant wealth is primarily derived from her 19% ownership of BMW, the German luxury automobile manufacturer, with her brother Stefan Quandt holding nearly 24%.
At 61, Klatten’s business interests extend beyond automotive. She is Altana’s sole owner and deputy chair, boasting over $2.5 billion in annual sales. Additionally, Klatten holds stakes in Entrust, specializing in digital identity and data security, and the carbon and graphite producer SGL Group.
Her strategic investments and business acumen have been instrumental in BMW’s sustained success, earning her a prominent place on Forbes’ list of female billionaires.
Read also: Top 10 youngest female billionaires in 2024 – Forbes
Gail Miller
Gail Miller, an influential figure at 80 in the American automotive sector, boasts a net worth of $3.9 billion as the owner of the Larry H. Miller Group of Companies. This diversified business empire includes car dealerships, real estate, healthcare, finance, and entertainment businesses.
Alongside her late husband Larry, who passed away in 2009, they transformed a single Toyota dealership into the eighth-largest auto dealer group in the U.S. In 2021, she sold the group to Asbury Automotive for $3.2 billion. The Millers’ ownership of the Utah Jazz NBA team, acquired in 1986 for $22 million, was sold to billionaire Ryan Smith in 2020 for $1.66 billion, though they retain a small stake.
Gail Miller’s commitment to community involvement and philanthropy, coupled with her 2018 book “Courage To Be You: Inspiring Lessons From An Unexpected Journey,” has solidified her reputation as a respected figure in the American business landscape.
Read also: Top female billionaires in Nigeria’s capital market
Maria-Elisabeth Schaeffler
At 82, Maria-Elisabeth Schaeffler-Thumann is a prominent figure in German auto parts manufacturing. She and her son Georg own the Schaeffler Group, a global technology company renowned for being one of the world’s largest ball bearings and machine components producers.
With a substantial net worth of $8.2 billion, she assumed leadership in 1996 after her husband’s passing. The company, founded by her husband and his brother Wilhelm in 1946, experienced a significant milestone in 2008 when it acquired Continental AG, a tyre and auto parts giant, in a debt-financed deal totalling $15 billion.
Under her guidance, the Schaeffler Group has thrived, supplying vital components to the global automotive industry. Maria-Elisabeth’s entrepreneurial spirit and dedication to innovation have firmly established the company as a key player in the worldwide auto parts market.
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