Germany's Bild newspaper reported on April 2 that after 75 years of work, the head of the Würth Group, known as the "Screw King," 89-year-old Reinhold Würth (pictured), has announced his retirem)ent and passed the baton to his 43-year-old grandson Benjamin.
Würth was born in 1935 in a small town in the German state of Baden-Württemberg. In 1945, his father founded Adolf Würth GmbH & Co. KG, a screw trading company with only two employees. In 1949, at just 14 years old, Würth started an apprenticeship at his father's company. Due to his father's early death, Würth had to take over the family business at the age of 19. As the owner and salesman, Würth had the experience of going door-to-door to sell hardware products, which was also the experience that led him to develop the company's unique sales model. Under his leadership and management, the company rapidly developed over the following decades, becoming one of the world's largest suppliers of hardware and industrial products.
According to reports, the Würth Group is known as an "invisible champion," with screws and other hardware components being the core products of the company, meeting the industrial material needs of multiple industries. Their clients span many fields including automobile manufacturing, oil and gas, electricity, aerospace, and mechanical manufacturing. The Würth Group has also been deeply involved in the automotive parts market for decades, implementing the German concept of "maintenance instead of repair" in the details of car maintenance and repair.
Today, the family business has more than 400 subsidiaries in 80 countries, with a workforce of over 88,500 employees. Würth is listed on the "2023 Forbes Global Billionaires List" with a fortune of 29.7 billion dollars, making him the richest person in the manufacturing industry.
Some reports suggest that Würth's character is the key to his success. He is a very modest, cautious, and hardworking person who constantly learns and practices, drawing experience from mistakes, and always maintaining passion and confidence in his business. He is also a person who values innovation and change, leading the family business to continuously launch new products and services, driving the company to grow and expand from millions to billions in sales.
In addition to his business success, Würth is also a philanthropist and art collector. Talking about his life after retirement, Würth said he might spend a month on a boat in the Caribbean. In fact, several years ago, Würth had already handed over the daily affairs of the group to others and took on the role of chairman of the foundation's supervisory board, mainly responsible for overseeing the group's important strategic decision-making. Würth has said that he does not want to interfere too much in the affairs of the group after his retirement. However, German media reports that his words still carry weight in the future. Würth jokes, "I'll try my best not to interfere."
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