I'm a simple emigrant and I have no empire to inherit

In Germany, it's often noticeable that there are quite a lot of wealthy people who seem to do nothing or do things, but their lifestyle is clearly not as profitable as their earnings would suggest. And have you noticed that nearly all small and medium-sized, and sometimes even large, companies are family-owned? Generational succession is the key to both of these aspects. Volkswagen, Lidl, Kaufland, BMW, Aldi, Metro, Continental, Phoenix Pharmahandel, Henkel, Ceconomy, Merck, Otto, dm-drogerie markt, Rossmann — these are all among the largest representatives of family-owned companies. Not all of them are currently 100% owned by families, but in one way or another control over the companies remains in the family. For example, Volkswagen AG is a public company; its shares are traded on the stock exchange, but the Porsche-Piëch family owns the holding Porsche SE, which in turn owns more than 53% of the voting rights of Volkswagen AG. Therefore, the family appoints board members and controls the group’s strategy and all key decisions. In Germany 90% of all enterprises are family-owned, but that isn’t the most surprising part. In the United States, the United Kingdom, and France, for example, their share is roughly the same. What sets Germans apart, though, is the role such companies play on the global market. In the ranking of the world's 500 largest family-owned companies, Germany ranks second, with 78 companies, total revenue $1.13 trillion, and more than 3.35 million employees. Every third company in the EMEIA economic region is German. Among the top-5 global family-owned companies, two are from Germany: the Volkswagen Group and the Schwarz Group. Moreover, the Schwarz Group is also the largest family-owned retailer in Europe. And here is the oldest European company in the index — the science and technology conglomerate Merck KGaA, founded in 1668. In addition to these examples, there are countless “hidden champions” — global leaders in very specialized or high-tech niches. They achieved such success partly because they remained family-owned and could afford to invest in long-term research and technologies, rather than constantly chasing short-term market or investor demands. Despite such global business, all these companies retain family control, and that is truly unique. German entrepreneurs have historically focused on sustainability and stability, preserving their reputation and passing the company on to their children. They also often have deep regional roots and feel a responsibility toward society. And the state supports them with legal backing and favorable tax conditions when transferring the enterprise to heirs. Banks also readily offer loans on special terms for family-owned companies. It seems to me that, on the one hand, all of this is wonderful, but on the other hand, many who want to quickly create and sell a startup will look at it with suspicion. Yet for those who would like to take over someone else’s family business and those who would like to pass on such a business but have no heir, there are specialized search funds. And what do you think about this? #work #Ordnung #taxes #madeinGermany