Bimmerpost
3
/
4 Series
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BIMMERPOST Universal Forums General BMW News and Cars Discussion BMW Billionaire Heirs Say Their Lives Are Harder Than You Think

Post Reply
 
Thread Tools Search this Thread
      06-21-2019, 05:29 PM   #1
The Automotive Enthusiast
Retired BMW Genius
The Automotive Enthusiast's Avatar
United_States
2888
Rep
3,404
Posts

Drives: 2018 Audi S5 Coupe
Join Date: Apr 2010
Location: DMV

iTrader: (1)

BMW Billionaire Heirs Say Their Lives Are Harder Than You Think

BIMMERPOST
     Featured on BIMMERPOST.com
Quote:
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
__________________
Quote:
Originally Posted by LucBroDude View Post
TRAITOR.
Quote:
Originally Posted by LucBroDude View Post
TRAITOR.
Appreciate 0
      06-21-2019, 06:30 PM   #2
The Wind Breezes
Lieutenant Colonel
912
Rep
1,850
Posts

Drives: 135i N55 DCT
Join Date: Apr 2015
Location: USA

iTrader: (0)

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.
Appreciate 0
      06-21-2019, 07:55 PM   #3
IancoleTX
Dillo boxers
IancoleTX's Avatar
United_States
272
Rep
3,360
Posts

Drives: 2019 M5C
Join Date: Jan 2010
Location: USA

iTrader: (14)

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.
__________________
2019 M5C Matte MBB / Tartufo
Appreciate 2
natahoa252.00
F32Fleet3539.50
      06-21-2019, 10:00 PM   #4
allinon72
Brigadier General
allinon72's Avatar
United_States
4892
Rep
3,783
Posts

Drives: 20' M2C, 23' X1
Join Date: May 2017
Location: Indianapolis, IN

iTrader: (2)

I find the whole "they inherited their wealth, so let's tar and feather them" schtick particularly elementary and tiresome.
Appreciate 5
SakhirM410783.00
natahoa252.00
F32Fleet3539.50
drexplode1762.00
      06-22-2019, 07:27 PM   #5
Efthreeoh
General
United_States
16946
Rep
18,580
Posts

Drives: The E90 + Z4 Coupe & Z3 R'ster
Join Date: May 2012
Location: Virginia

iTrader: (0)

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...
__________________
A manual transmission can be set to "comfort", "sport", and "track" modes simply by the technique and speed at which you shift it; it doesn't need "modes", modes are for manumatics that try to behave like a real 3-pedal manual transmission. If you can money-shift it, it's a manual transmission. "Yeah, but NO ONE puts an automatic trans shift knob on a manual transmission."
Appreciate 0
      06-22-2019, 09:31 PM   #6
yco
i'm just saying
yco's Avatar
5723
Rep
2,634
Posts

Drives: E71 X6M '10 (sold)
Join Date: Jan 2018
Location: Istanbul & Kyiv

iTrader: (0)

“Many believe that we are permanently sitting around on a yacht in the Mediterranean,”

ok most of the time.. we got it..
__________________
"Race car driving is like sex. All guys think they're good at it." Jay Leno
Appreciate 2
Efthreeoh16946.00
b92538.00
      06-22-2019, 09:57 PM   #7
P1
Lieutenant General
P1's Avatar
11542
Rep
11,128
Posts

Drives: 2004 3/4 ton Duramax
Join Date: Aug 2007
Location: United States

iTrader: (1)

News flash: absolutely no one thinks about them.
Appreciate 4
natahoa252.00
LobB5109.00
NickyC17350.50
      06-22-2019, 10:25 PM   #8
The Automotive Enthusiast
Retired BMW Genius
The Automotive Enthusiast's Avatar
United_States
2888
Rep
3,404
Posts

Drives: 2018 Audi S5 Coupe
Join Date: Apr 2010
Location: DMV

iTrader: (1)

Quote:
Originally Posted by yco View Post
“Many believe that we are permanently sitting around on a yacht in the Mediterranean,”

ok most of the time.. we got it..
LOLOLOL!!!!!
__________________
Quote:
Originally Posted by LucBroDude View Post
TRAITOR.
Quote:
Originally Posted by LucBroDude View Post
TRAITOR.
Appreciate 0
      06-22-2019, 11:06 PM   #9
clee1982
Lieutenant Colonel
United_States
796
Rep
1,736
Posts

Drives: 2019 BMW 540i xDrive
Join Date: Nov 2018
Location: NYC

iTrader: (0)

Garage List
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.
Appreciate 1
      06-23-2019, 03:33 AM   #10
Mani59
BMW Miniature Collector!
United Kingdom
13309
Rep
7,980
Posts

Drives: E38 735i SE Individual
Join Date: Nov 2010
Location: Leicestershire

iTrader: (1)

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!)

__________________


Visit my (mainly) BMW gallery http://jetone.co.uk
Appreciate 0
      06-23-2019, 09:46 AM   #11
zx10guy
Brigadier General
5139
Rep
3,235
Posts

Drives: 2013 135i
Join Date: Feb 2014
Location: DC

iTrader: (0)

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.
__________________
Quote:
Originally Posted by Lups View Post
We might not be in an agreement on Trump, but I'll be the first penis chaser here to say I'll rather take it up in the ass than to argue with you on this.
Appreciate 3
      06-23-2019, 09:59 AM   #12
gatorfast
Major General
gatorfast's Avatar
United_States
4969
Rep
6,854
Posts

Drives: 718 Cayman
Join Date: Jan 2008
Location: SoFla

iTrader: (4)

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
Appreciate 1
      06-23-2019, 11:19 AM   #13
Efthreeoh
General
United_States
16946
Rep
18,580
Posts

Drives: The E90 + Z4 Coupe & Z3 R'ster
Join Date: May 2012
Location: Virginia

iTrader: (0)

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.
__________________
A manual transmission can be set to "comfort", "sport", and "track" modes simply by the technique and speed at which you shift it; it doesn't need "modes", modes are for manumatics that try to behave like a real 3-pedal manual transmission. If you can money-shift it, it's a manual transmission. "Yeah, but NO ONE puts an automatic trans shift knob on a manual transmission."
Appreciate 0
      06-23-2019, 12:23 PM   #14
TheBingoBalls
Brigadier General
TheBingoBalls's Avatar
Canada
3805
Rep
4,655
Posts

Drives: BMW
Join Date: Mar 2011
Location: Toronto, Ontario

iTrader: (1)

Garage List
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..
Appreciate 2
      06-23-2019, 12:33 PM   #15
G35POPPEDMYCHERRY
Banned
G35POPPEDMYCHERRY's Avatar
No_Country
4992
Rep
4,139
Posts

Drives: F80
Join Date: Dec 2015
Location: Philadelphia

iTrader: (1)

lol why not just stay in your lane.
Appreciate 0
      06-23-2019, 02:25 PM   #16
MmmmmM2
Colonel
MmmmmM2's Avatar
2578
Rep
2,423
Posts

Drives: 2021 M2C
Join Date: Mar 2019
Location: Claremont, CA

iTrader: (0)

Garage List
2016 Mazda CX-5  [0.00]
2021 BMW M2C  [0.00]
It ain't easy being rich...Ya feel me?
Appreciate 0
      06-23-2019, 02:40 PM   #17
Mik3ymomo
Lieutenant
Mik3ymomo's Avatar
205
Rep
472
Posts

Drives: 540i XDrive
Join Date: Sep 2013
Location: Mount Laurel, NJ

iTrader: (0)

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.
__________________
Appreciate 1
clee1982796.00
      06-23-2019, 04:20 PM   #18
pbgalvin
New Member
0
Rep
11
Posts

Drives: 2019 M240i X Convertible
Join Date: Mar 2019
Location: Boston MA

iTrader: (0)

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...
Appreciate 0
      06-23-2019, 08:45 PM   #19
floridaorange
Colonel
floridaorange's Avatar
United_States
10015
Rep
2,658
Posts

Drives: 2013 bmw 320i xdrive
Join Date: Nov 2018
Location: orlando, fl

iTrader: (1)

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.
__________________
Stage 2 BM3

Quote:
Originally Posted by GrussGott View Post
Sounds pizzagatey.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 04:49 PM.




g20
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST