Otto Happel Net Worth

Net Worth: $2.6 Billion
  • Source of Wealth:

  • Age:

  • Birth Place:

    Bochum, Germany
  • Marital Status:

  • Full Name:

    Otto Happel
  • Nationality:

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About Otto Happel

Otto Happel is a German entrepreneur with an estimated net worth of $2.6 billion as of May 2015 according to Forbes. He is also the 29th richest person in Germany and is ranked 458th in the list of World Billionaires.

Mr. Happel is the son of Otto Happel Sr. who founded the forerunner of the GEA in Bochum in 1920. After the death of Oppel Sr. on December 26, 1948, his wife Elizabeth took over the leadership of the company. The management was transferred to his son in 1975 who successfully led the company. In 1989, it was converted into a public limited company. In February 1999, GEA Happel sold its shares for $1 million to Metallgesellschaft (MG) and kept a 21% interest in the combined group.

In 2005, GEA Happel was renamed GEA Group. In 2006, Otto cashed out the firm and sold his remaining stake to institutional investors for an estimated $630 million. Considered an enthusiastic sailor, he owns a yacht called Hetairos and lives with his wife and six children. He also owns a luxury resort named Fregate Island in the Seychelles. His foundation, named after him, supports the development projects in the developing world.