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Peter Unger Net Worth

Peter Unger Net Worth

Net Worth: $1.4 Billion

  • Source of Wealth Auto Repair
  • Birth Place GossengrĂ¼n , Sudetenland, Germany
  • Marital Status Married
  • Full Name Peter Unger
  • Nationality Germany
  • Date of Birth August 2, 1944
  • Occupation Entrepreneur
  • Children two children
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About Peter Unger

German entrepreneur Peter Unger has an estimated net worth of $1.4 billion according to Forbes as of March 2013. He founded the auto parts and repair outfit Auto-Teile-Unger (ATU) in 1985 which made him the 55th richest person in Germany and 1031st in the world.

Mr. Unger has built ATU into a well-known chain of stores in Germany from a tire deal which he sold in 1985. He invested the proceeds to his new venture which he expanded in 2002. Today, it is a trading company which sells vehicle accessories, and auto parts and tires as well as it operates vehicle shops. The firm has operations in several countries including Germany, Austria, Switzerland, the Netherlands, Czech Republic and Italy with more than 600 stores and 12,000 employees.

In 2002, Peter Unger sold 80% of the company for a reported $800 million to British investor group Doughty Hanson & Co. In 2004, Kohlberg Kravis Roberts bought the entire company including his remaining 20% stake which amounted to around $360 million.