How much will the bankruptcy and rescue of KTM cost Stefan Pierer? We can still only speculate about it. However, the fact is that the entrepreneur and owner of the motorcycle manufacturer is no longer represented in the list of the richest people in the world.
At the two court hearings that have taken place so far in the restructuring process, Gottfried Neumeister was always present as a representative of the board of directors, and since Thursday evening it has also been confirmed that the 47-year-old Viennese is the new CEO of Pierer Mobility AG and KTM AG. So far so good. But where is Stefan Pierer?
Until the bankruptcy of the motorcycle manufacturer, which he described as his ‘life’s work’, the entrepreneur shunned the media and TV cameras. But he has been at a diving station for weeks. The motto is apparently full focus on saving the KTM Group. He still had to endure enormous amounts of ridicule and criticism. There was even an anger song dedicated to him that was distributed via WhatsApp.
In 2023 he was ranked 1804th
It is not yet known whether Pierer is one of the investors who want to inject money to get the restructuring of the company on track. In any case, the fact is: the entrepreneur’s name no longer appears in the rankings of the richest people in the world. Anyone who looks up the so-called Billionaires List on the Forbes magazine website will search in vain for Stefan Pierer. For the year 2023, he was ranked 1804th – with a fortune of $1.6 billion (the equivalent of about 1.52 billion euros today). Did KTM’s bankruptcy cost him his place in the rankings of the richest?
With Mateschitz and RLB OÖ before joining Rosenbauer
According to Forbes, the richest Austrian is currently Mark Mateschitz, who has a fortune of $37.6 billion (the equivalent of about 35.76 billion euros). The Red Bull heir is also Pierer’s business partner: together with two companies from Raiffeisenlandesbank Oberösterreich, they plan to join Rosenbauer. With the help of the Robau consortium, they also want to take over most of the fire equipment from Leonding.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
