The Billionaire Next Door (2007)

&quot;His net worth isn’t something he says he ever thinks about. “I don’t waste time on it. Because at the end of the day, it’s a theoretical number that has no relevance. It’s not as if we have a bank account full with all that money and liquidity. I’m sorry, it’s not cash. It’s assets that are necessary so that people can do their jobs.&quot;<p>I wish more people can see it that way instead of touting the successes of billionaires just by virtue of their theoretical net worth

In general this is quite common in Germany, there are still many family companies and the heirs often work outside the business before returning to the family company.<p>Herzogenaurach his hometown is an interesting case for everybody who is interested in the weird ways of entrepreneurship. The small town is home for Schaeffler, Adidas and Puma. Quite remarkable for a population of 30.000.<p>Disclaimer: I live next door and organize the Nuernberg Digital Festival

Related: <a href="https:&#x2F;&#x2F;www.propublica.org&#x2F;article&#x2F;ultrawealthy-taxes-irs-internal-revenue-service-global-high-wealth-audits" rel="nofollow">https:&#x2F;&#x2F;www.propublica.org&#x2F;article&#x2F;ultrawealthy-taxes-irs-in...</a>

He sounds like a reasonable and introspective person (at least that is the impression I got from reading the article). It&#x27;s a good reminder that Billionaire&#x27;s are people too, with all the same hopes, dreams, and insecurities that many of us non-billionaires have.

I wonder if he&#x27;ll be able to retain his family&#x27;s wealth. I remember reading that wealth is not retained really well in rich families.