Otto Happel Net Worth $3 Billion
GEA Happel – Is it a Scam?
Otto Happel is a German entrepreneur with an estimated net worth of $3 billion as of March 2013 according to Forbes. His wife Elizabeth is additionally the 29th most affluent person in Germany and is ranked 458th in the listing of World Billionaires.
Following the passing of Oppel Sr. on December 26, 1948, his wife Elizabeth took over the leadership of the business. The management was transferred to his son in 1975 who successfully directed the firm. In 1989, it had been converted into a public limited company.
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 together with his lovely wife and six children. He also possesses a luxury resort named Fregate Island in the Seychelles. His foundation, named after him, supports the development endeavors in the developing world.