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Reinhold Würth

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Reinhold Würth
Würth in 2020
Born (1935-04-20) 20 April 1935 (age 90)
Öhringen, Württemberg, Germany
OccupationBusinessman
TitleChairman: Adolf Würth Group
Children3
FatherAdolf Würth

Reinhold Würth (born 20 April 1935) is a German businessman and art collector. In 1954, at the age of 19, he took over his father's wholesale screw business and built it into the Würth Group, which posted €19.9 billion (US$21.68 billion) in sales in 2022.[1]

Since the 1960s Würth has collected works of art. As of 2021, the collection contains over 18,300 works, specialising in art created from the late 19th century to today. [2][3]

He is married with three children and lives in Künzelsau, Germany.[4]

As of November 2024, Forbes estimated Würth's net worth at $33.6 billion, the world's 45th-richest person.[4]

Life

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Early Life

Reinhold Würth is the son of Alma Würth and Adolf Würth, who founded a screw wholesaling business for carpentry and metalworking trades in Künzelsau, Hohenlohe, in July 1945. He received violin lessons as a child. At the age of 14, his father withdrew him from upper secondary school (Oberrealschule) and, in 1949, hired him as an apprentice and second employee in his screw wholesaling business in Künzelsau.

Professional Career

When his father died in 1954,[5] Reinhold Würth was 19 years old. After reaching the age of majority (then 21[6]), he assumed management of the company two years later, in 1956. Over the following decades, Würth transformed the regional trading business into a global enterprise. His clients remain primarily from the commercial and industrial sectors. Gradually, Würth began acquiring screw manufacturers. As the domestic market for fastening technology was highly fragmented and susceptible to economic fluctuations, he expanded operations internationally. In 1962, the first foreign sales subsidiary was established in the Netherlands.

By 2020, the Würth Group operated through over 400 companies in more than 80 countries,[7] generating revenue of €14.4 billion in the 2020 fiscal year.[8] Würth stepped down from operational management in 1994 and served as chairman of the company’s advisory board until 2006. From 1999 to 2003, he headed the newly founded Institute for Entrepreneurship at the Karlsruhe Institute of Technology. To ensure the company’s long-term stability, Reinhold Würth established four family foundations in 1987 (named after his wife Carmen Würth and their three children), transferring his shares in the operational business to them.[9] He remained chairman of the Foundation Supervisory Board, the Würth Group’s highest governing body, until December 31, 2024,[10] after which his grandson Benjamin Würth assumed the role.[10] His daughter Bettina Würth has chaired the Würth Group’s advisory board since 2006.

Together with his wife Carmen, he also founded the nonprofit Würth Foundation in 1987.[11]

Reinhold Würth holds the honorary title Prof. Dr. h. c. mult., a non-academic distinction.[12]

Tax Evasion

In late March 2008, allegations surfaced that Reinhold Würth had committed tax evasion. The news magazine Der Spiegel published leaked documents revealing that the Stuttgart public prosecutor’s office had been investigating Würth and five associates since autumn 2006.[13] The Heilbronn District Court issued a penalty order against Würth totaling 700 daily fines. The exact amount was not disclosed but reportedly reached up to €3.5 million.[14] The Stuttgart prosecutors noted that Würth had repaid the tax debt, which influenced the penalty calculation.[15] The conviction was expunged from his record in 2012. Two other Würth Group executives were also fined.

According to prosecutors, none of the accused had gained “personal benefits.”[16] The dispute centered on cost allocations between domestic and foreign subsidiaries. The tax legality of these allocations through the German parent company was the core issue. Würth opted to settle by repaying taxes, paying a fine, and accepting a criminal record to avoid prolonged litigation and reputational damage to his life’s work.[17] In an interview with FAZ, he stated, “Had I been younger, I would have fought this in court.”[18]

Together with his wife Carmen, he also founded the nonprofit Würth Foundation in 1987.[11]

Reinhold Würth holds the honorary title Prof. Dr. h. c. mult., a non-academic distinction.[12]

Tax Evasion

In late March 2008, allegations surfaced that Reinhold Würth had committed tax evasion. The news magazine Der Spiegel published leaked documents revealing that the Stuttgart public prosecutor’s office had been investigating Würth and five associates since autumn 2006.[13] The Heilbronn District Court issued a penalty order against Würth totaling 700 daily fines. The exact amount was not disclosed but reportedly reached up to €3.5 million.[14] The Stuttgart prosecutors noted that Würth had repaid the tax debt, which influenced the penalty calculation.[15] The conviction was expunged from his record in 2012. Two other Würth Group executives were also fined.

According to prosecutors, none of the accused had gained “personal benefits.”[16] The dispute centered on cost allocations between domestic and foreign subsidiaries. The tax legality of these allocations through the German parent company was the core issue. Würth opted to settle by repaying taxes, paying a fine, and accepting a criminal record to avoid prolonged litigation and reputational damage to his life’s work.[17] In an interview with FAZ, he stated, “Had I been younger, I would have fought this in court.”[18]

Following the case, Würth acquired Austrian citizenship and considered relocating the Würth Group’s headquarters to Switzerland. However, Handelsblatt reported that he abandoned the plan due to logistical complexity and his wife’s objections.[19]

Wealth

Reinhold Würth ranks among the world’s wealthiest individuals. According to Forbes, he and his family held 47th place on the global billionaires list in 2024,[20] with an estimated net worth of $27.5 billion, making them Germany’s third-richest family.[21] Business Insider placed his 2024 wealth at approximately €33.54 billion.[22]

Family

Würth has been married to Carmen Würth (née Linhardt, b. 1937[23]) since 1956, and they have three adult children. Both are members of the New Apostolic Church. They have resided at Hermersberg Castle near Niedernhall since 1974; the 1540-built structure was meticulously restored, along with other historic Hohenlohe buildings.[24] Würth maintains a secondary residence in Salzburg. In 2009, he purchased the motor yacht Vibrant Curiosity, valued at $100 million.[25] For over 40 years, he flew private jets as a licensed commercial pilot (ATPL) before relinquishing his license in 2015 for health reasons.

In June 2015, Würth’s 50-year-old son, who has intellectual disabilities due to a childhood vaccine injury and lived in a care home in Schlitz, was kidnapped. He was released unharmed.[26] On March 14, 2018, news agencies reported the arrest of a suspect,[27] with a trial opening in October 2018.[28] On November 27, 2018, the Gießen Regional Court acquitted the defendant, citing insufficient evidence linking him to the crime.[29]

Family Involvement in the Company

Reinhold and Carmen Würth’s daughter Bettina Würth joined the Würth Group’s five-member advisory board after training within the company and has chaired it since 2006.[30][31]

Since January 1, 2019, grandson Benjamin Würth has served as CEO of Würth International AG in Chur (specializing in centralized procurement) and as one of five members of the Foundation Supervisory Board.[32] He succeeded his grandfather as chairman on January 1, 2025. His brother Sebastian Würth heads the Offshore Division and sits on the Würth Group’s advisory board. Both are sons of Reinhold’s daughter Marion Würth.[32]

Granddaughter Maria Würth, Bettina’s daughter, is an art historian on the Würth Foundation’s art advisory board, focusing on its museums and galleries.

See also

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References

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  1. ^ "Bloomberg Profile: Reinhold Wuerth". Bloomberg. Retrieved 1 February 2021.
  2. ^ "Würth Collection". Würth and the Arts. Archived from the original on 7 May 2015. Retrieved 15 December 2018.
  3. ^ Pal, Nev (25 October 2021). "Rotterdam's first fully wooden residential building, the most sustainable development in Europe and an ecological hemp house". World Architecture News. Retrieved 31 January 2022.
  4. ^ a b "Reinhold Wuerth & family". Forbes. Retrieved 26 November 2024.
  5. ^ "Würth über Bewerbungen: Bodenständigkeit das Allerwichtigste". Süddeutsche.de (in German). 7 January 2023. Retrieved 17 April 2025.
  6. ^ "Volljährigkeit - Regelungen, Rechte und Pflichten". paradisi.de (in German). Retrieved 17 April 2025.
  7. ^ "Handelsblatt". www.handelsblatt.com. Retrieved 17 April 2025.
  8. ^ KG, Adolf Würth GmbH & Co. "Unternehmen | Würth Group". www.wuerth.com (in German). Retrieved 17 April 2025.
  9. ^ "Reinhold Würth - Munzinger Biographie". www.munzinger.de. Retrieved 17 April 2025.
  10. ^ a b "Würth-Konzern in neuen Händen: Diese Pläne hat Enkel Benjamin - STIMME.de". www.stimme.de (in German). 4 January 2025. Retrieved 17 April 2025.
  11. ^ a b STIFTUNG, DIE (2 January 2023). "Johannes Schmalzl leitet die Stiftung Würth". DIE STIFTUNG (in German). Retrieved 17 April 2025.
  12. ^ a b "Essay Prof. Dr. h. c. mult. Reinhold Würth". gb2017.wuerth.com. Retrieved 17 April 2025.
  13. ^ a b "Verdacht auf Steuerhinterziehung: Schrauben-Milliardär Würth im Visier der Staatsanwaltschaft". Der Spiegel (in German). 29 March 2008. ISSN 2195-1349. Retrieved 17 April 2025.
  14. ^ a b "Steuerhinterziehung: Würth kommt mit Geldstrafe davon". Der Spiegel (in German). 28 May 2008. ISSN 2195-1349. Retrieved 17 April 2025.
  15. ^ a b "Reinhold Würth ist nicht mehr vorbestraft - STIMME.de". www.stimme.de (in German). 18 June 2012. Retrieved 17 April 2025.
  16. ^ a b "3,5 Millionen Euro Strafe für Würth - STIMME.de". www.stimme.de (in German). 29 May 2008. Retrieved 17 April 2025.
  17. ^ a b "Handelsblatt". www.handelsblatt.com. Retrieved 17 April 2025.
  18. ^ a b "Milliardär Würth im Interview: „Blicke ich in den Spiegel, sehe ich einen Gauner"". FAZ.NET (in German). 23 March 2009. Retrieved 17 April 2025.
  19. ^ "Handelsblatt". www.handelsblatt.com. Retrieved 17 April 2025.
  20. ^ "Reinhold Wuerth & family". Forbes. Retrieved 17 April 2025.
  21. ^ "Handelsblatt". www.handelsblatt.com. Retrieved 17 April 2025.
  22. ^ Ritzmann, Hannah (14 November 2024). "Reinhold Würth: Rechnung zeigt, wie reich der Schrauben-Milliardär im Vergleich ist". Business Insider (in German). Retrieved 17 April 2025.
  23. ^ "Geburtstag: „Ich bin dankbar für das, was ich nicht hatte" | Südwest Presse Online". web.archive.org. 7 February 2021. Archived from the original on 7 February 2021. Retrieved 17 April 2025.
  24. ^ Hartmann, Martin; de l'Asie Francaise, Comite (31 December 1913). "L'Asie Francaise. Januar-Oktober 1913". Die Welt des Islams. 1 (3/4): 228. doi:10.2307/1569131. ISSN 0043-2539.
  25. ^ "Trotz Kurzarbeit: Schraubenkönig Würth weiht millionenschwere Yacht ein". Der Spiegel (in German). 28 March 2009. ISSN 2195-1349. Retrieved 17 April 2025.
  26. ^ Südwest Presse Online-Dienste GmbH. "Entführung von Würth-Sohn: Stunden der Angst". swp.de (in German). Archived from the original on 9 January 2016. Retrieved 17 April 2025.
  27. ^ NACHRICHTEN, n-tv. "Entführer von Milliardärssohn Würth gefasst?". n-tv.de (in German). Retrieved 17 April 2025.
  28. ^ Ramm, Wiebke (15 October 2018). "Markus Würth: Wie die Mutter mit dem Entführer ihres Sohnes verhandelte". Der Spiegel (in German). ISSN 2195-1349. Retrieved 17 April 2025.
  29. ^ Germany, hessenschau.de, Frankfurt (27 November 2018). "Angeklagter im Entführungsfall Würth freigesprochen". hessenschau.de (in German). Archived from the original on 27 November 2018. Retrieved 17 April 2025.{{cite news}}: CS1 maint: multiple names: authors list (link)
  30. ^ KG, Adolf Würth GmbH & Co. "Führungsgremien | Würth Group". www.wuerth.com (in German). Retrieved 17 April 2025.
  31. ^ "Reinhold Würth regelt seine Nachfolge im Konzern". Süddeutsche.de (in German). 8 July 2022. Retrieved 17 April 2025.
  32. ^ a b "Unternehmen: Bei Würth sind die Enkel auf dem Vormarsch". www.swp.de (in German). Retrieved 17 April 2025.
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