Fun Fact: How Germany's New Chancellor, Friedrich Merz, Built his Fortune
Chancellor Friedrich Merz's Journey to Amassing Millions in Wealth
Got a burning question? Want to know how Germany's latest Chancellor, Friedrich Merz, turned into a millionaire? Here's the inside scoop!
Though he'd rather be modestly considered upper-middle class, there's no denying the fact that Merz is among Germany's high-earners, wealthy, and prosperous. According to his own revelation back in 2018, his annual earnings were close to a cool million euros.
Despite the occasional criticism and mockery, Merz believes he's earned his way to wealth, saying he doesn't fit the mold of the upper class, who inherit their fortunes. His work ethic and values, learned from his parents - hard work, discipline, decency, and respect - have been the driving force behind his success.
Merz's impressive resume boasts working for several renowned companies, and his political career hasn't held him back either. In the past, he served on the board of directors of renowned firms like Commerzbank, Deutsche Börse, BASF, Axa, and Borussia Dortmund, just to name a few.
His most financially-rewarding role, however, was as a Supervisory Board Chairman at BlackRock, one of the world's largest asset managers. The exact details of his earnings aren't disclosed, but it's speculated that he took home around 125,000 euros a year, and that's just the tip of the iceberg. Add his earnings as a Supervisory Board Member of Wepa in his home state of Sauerland, HSBC, and Cologne-Bonn Airport, and it's easy to see how he's managed to create such a significant fortune.
But what sets Merz apart is his private venture: owning a small, propeller-driven aircraft, a Diamond DA62, which he personally pilots. Yes, you heard that right - the Chancellor of Germany is also an avid pilot with his very own plane, costing roughly a million euros. To date, he's taken off more than 160 times in the little aircraft, making frequent trips between his home airport in Arnsberg-Menden and Schönhagen near Berlin.
Is Merz a multimillionaire? You bet! Estimates peg his wealth at around 12 million euros, stemming from his years working for various lucrative companies. Though he doesn't make as much as a CEO of a DAX company, it's safe to say that Merz's journey to the top was well worth the ride.
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Sources: ntv.de, politico.de, bundesregierung.de, frankfurter-allgemeine-zeitung.de, welt.de, shr.de, spiegel.de, finanzen.net, handelsblatt.com, manager-magazin.de, der-tagesspiegel.de.
- Friedrich Merz, the EC countries' new Chancellor, has amassed a significant fortune not through inheritance, but through his work in various finance and business sectors, including roles as Supervisory Board Chairman at BlackRock, Wepa, HSBC, and Cologne-Bonn Airport, and ownership of a personal-finance asset like a propeller-driven aircraft.
- Beyond his political career, Merz's wealth has been a result of his successful ventures in the finance and business world, such as serving on the boards of renowned firms like Commerzbank, Deutsche Börse, BASF, Axa, and Borussia Dortmund, which have contributed to his personal finances and wealth.
