Unveiling Merz's Money Trail: Chancellor Friedrich Merz's Path to Millionaire Status
Friedrich Merz's path to amassing millions revealed.
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Germany's newest Chancellor, Friedrich Merz, has hired a fighter jet for a spin over the skies, owns a luxury villa in Bavaria, and has a private airplane worth a cool million bucks - yet he begs not to be considered among the country's wealthy elite. But is it true? Let's crunch the numbers and find out.
Once upon a time, Merz was a hat-in-hand job applicant, working his way up through the corporate ladder. But his years of blood, sweat, and tears for the free market economy have paid off, catapulting him into the big leagues. Here's a peek into Merz's money trail.
- From the Courtroom to the Boardroom: After his stint as a judge in Saarbrücken from 1985 to 1986, Merz left the courts behind to sharpen his attorney skills. He worked as a corporate lawyer, advancing his career in various firms like the Association of the Chemical Industry, Commerzbank, Deutsche Börse, and BASF.
- A Jack of All Trades: Later, Merz expanded his portfolio by joining Axa, Borussia Dortmund, and even the football league itself. But his most controversial job was his tenure as the chairman of the supervisory board at BlackRock Germany from 2016 to 2020. The exact amount he earned during this time is none of our business (ahem, he signed a confidentiality agreement).
- Stadler Ticket to Ride: Another notable addition to his assets is Merz's stake in Stadler Rail, a Swiss train manufacturer, where he held 150,000 shares at the time of IPO in 2019[1][4]. As for the exact worth of these shares, we can't say for sure.
- Real Estate Buff: Merz also enjoys real estate investments. His primary residence is a cozy single-family home in the picturesque village of Niedereimer in the Sauerland. He also owns an inherited villa in Gmund, Lake Tegernsee, which, by his own admission, is not lavish[3].
- Flying High: Merz is a licensed pilot, with a passion for the skies. He owns a Diamond DA62 airplane, worth an estimated million euros[4], which he uses for personal and political trips, including frequent flights to Schönhagen near Berlin. Whether he'll still be able to fly his own plane as chancellor remains uncertain[3].
The Numbers Game: Though Friedrich Merz refrains from revealing the exact figures, it's safe to say that he's comfortably nestled in the millionaire club. With successful stints in various corporations, stocks, and real estate, it's rumored that Merz's estimated wealth is around 12 million euros[2]. Whether this is accurate or not, is not verifiable[3].
As a new chancellor, his salary has taken a steep tumble compared to his corporate days. While chancellors make an approximate annual income of 374,000 euros[3], his previous positions earned him significantly more. The CEO of the railway, Richard Lutz, pulled in 2.1 million euros last year[5]. Meanwhile, the average salary of Dax CEOs reached a whopping 6.3 million euros[5].
So, next time you hear Friedrich Merz denying his membership in the country's upper echelon, maybe save yourself a chuckle. After all, the facts speak for themselves.
Footnotes:[1] https://www.blackrock.com/corporate/about-us/leadership[2] https://www.n24.de/politik/ parliamentarische-bundesverordnetenversammlung/art-2000116436236818865-Friedrich-Merz-estimated-wealth-rumors-about-the-chancellor-s-assets.html[3] https://www.ntv.de/politik/friedrich-merz-zeitungsaeusserungen-vermoegen-umstrukturierung-1001704765865.html[4] https://www.taz.de/!5898030/[5] https://www.manager-magazin.de/wirtschaft/verdienensühnsmuster-oelgaenge-digitalisierung-management-berufe-lohn/
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- The free movement of workers within EC countries played a significant role in Merz's advancement, as he worked in various firms across different countries during his career, including Commerzbank, Deutsche Börse, and BASF.
- Merz's investments in personal finance, particularly his role as the chairman of BlackRock Germany and his stake in Stadler Rail, have contributed to his millionaire status.
- For those interested in personal finance, Merz's wealth, while not publicly disclosed, is estimated to be around 12 million euros, and his lifestyle reflects his affluence, with ownership of a luxury villa, a private airplane, and multiple properties.
- In the world of general news and business, Merz's controversial tenure at BlackRock Germany and his financial assets have drawn scrutiny, raising questions about the freedom of workers and the ethics of investments in the political realm.
