JACOB, PETER, AND MARCUS
WALLENBERG Chairman, director, vice chairman Investor AB Sweden
DIETER SCHWARZ Chairman / chief executive
Schwarz Group Germany
Schwarz inherited and became chief executive of the Schwarz & Lidl discount chain after the death of his father and founder, Josef Schwarz, in 1977. Under his leadership, the company became Germany’s second- biggest discounter, before expanding the business internationally. After rapidly opening over 10,000 stores across Europe and the US, the company is now the fourth- largest retailer in the world, with a revenue of $109.6 billion. Through Schwarz Group, he has also created hypermarket chain Kaufland, which has 1,200 stores around Europe.
Brothers Jacob and Peter, and their cousin Marcus (pictured below) are the fifth- generation leaders of Sweden’s legendary business family, who took over from their parents in 2006. They oversee an empire worth over $290 billion, with controlling stakes in some of Europe’s largest industrial groups, ranging from drug giant AstraZeneca, and white-goods manufacturer Electrolux, to defence group Saab and telecoms maker Ericsson. The flourishing business has created opportunities to acquire under- performing companies, preferring to develop existing businesses rather than founding new ones.
Americas GARVIN
BROWN IV Chairman
Brown-Forman United States
BRENDAN BECHTEL
Chairman and chief executive
Bechtel Group United States
Bechtel has led his family’s engineering and construction company after succeeding his father, Riley, in 2016. He was first appointed chief executive and a year later was unanimously elected as chairman of Bechtel Group. The fifth-generation leader now commands one of the biggest privately held companies in the US, with $25.9 billion in revenue in 2017. It has fallen on him to steer the company through challenges like a collapse in commodity prices, and new competition from Chinese contractors.
Since becoming chairman of his family’s spirits company in 2007, fifth-generation Brown has worked hard to create a ‘family engagement’ committee designed to keep the fifth generation—at least 25 family members, who do not work at the company but share a fortune estimated at $12.3 billion—connected to the decisions that executives are making. Under his leadership, Brown-Forman, owner of Jack Daniel’s and Finlandia vodka has expanded, with net sales growth of 8% in 2018 financial year.
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ISSUE 75 | 2019
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