Germany's New Chancellor: Friedrich Merz, A Millionaire with a Distinct Background
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By: Caroline Amme
Meet Friedrich Merz, the man who's taken the reins as Germany's tenth Chancellor. At the ripe age of 65, Merz becomes the oldest Chancellor since Konrad Adenauer, and quite possibly, one of the wealthiest. But in an interview back in 2018, hemodestly claimed to be part of Germany's upper middle class. Let's dive into his journey and see if that claim holds water.
Merz, a lawyer by trade, served as a judge at the Regional Court of Saarbrücken from 1985 to 1986, following in his father's footsteps. He then ventured into private practice and held various influential roles across corporations such as the Association of the Chemical Industry, Commerzbank, Deutsche Börse, BASF, Axa, and even the football club Borussia Dortmund. His most controversial job, however, was his stint as the chairman of Blackrock's supervisory board from 2016 to 2020.
But how much does he earn, you ask? Merz prefers to keep his exact earnings under wraps, but he did reveal his annual gross income to be around one million euros in 2018. That's not all – his income as a supervisory board member at Blackrock, his work at Wepa, HSBC, Cologne-Bonn Airport, and other positions add to his hefty net worth.
Merz's wealth is primarily a result of his career in the free economy and smart investments. His properties, including a villa in Bavaria and a single-family home in Niedereimer, and his pilot's license with a personal airplane are just a few of his assets. His net worth, though not officially confirmed, is estimated to be around 12 million euros.
Yet, Merz holds a distinct humble side, attributing his wealth to his work ethic and family values. He defines middle-class thinking not by economic size, but by the values he learned from his parents – diligence, discipline, decency, and respect.
As Germany's Chancellor, Merz will earn less than his previous corporate roles, yet still more than the average DAX CEO. While his wealth may be substantial, Merz's return to politics may not have been influenced by monetary gain, considering Money wasn't likely his main motivation.
So, there you have it – Germany's new Chancellor, a man of wealth, experience, and ambition. Whether you support his policies or not, it's clear that Merz's journey to the Chancellor's office has been an interesting one.
Related Topics:- Private Finance and Asset Management- German Politics and Corporate Governance- Past Roles, Income Sources, and Assets- First Chancellor to Hold a Pilot's License- Comparison to DAX CEO Salaries- The Concept of Middle-Class Thinking
Sources:1. ntv.de2. Bild.de3. Wieders was gelernt podcast
- As a successful businessman with a net worth estimated to be around 12 million euros, Friedrich Merz has made his wealth through a career in the free economy and smart investments, with various properties and a pilot's license among his assets.
- Despite being one of the wealthiest Chancellors in German history, it seems that personal finance and investments were not the primary motivators for Friedrich Merz's return to politics, as he defines middle-class thinking by the values of diligence, discipline, decency, and respect he learned from his parents.
