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 individual in Germany and 1031st in the world. Mr. Unger has built ATU into a well known chain of shops in Germany from a tire bargain which he sold in 1985. He invested the profits to his new enterprise which he expanded in 2002. Today, it really 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 many nations including Germany, Austria, Switzerland, the Netherlands, Czech Republic and Italy with more than 600 shops and 12,000 workers. In 2002, Peter Unger sold 80% of the company to get a reported $800 million to British investor group Doughty Hanson & Co. In 2004, Kohlberg Kravis Roberts purchased the entire business including his remaining 20% position which amounted to around $360 million.