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BMW stakeholder Johanna Quandt dies at 89

August 6, 2015

Johanna Quandt, widow of the late German industrialist Herbert Quandt, has died at the age of 89 in Bad Homburg. The Quandt family owns a 46.6 percent stake in luxury automaker BMW.

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Johanna Quandt
Image: picture-alliance/dpa/W. Kumm

Johanna Quandt, one of the richest people in Germany, died in the town of Bad Homburg on Monday at the age of 89.

The widow of German industrialist Herbert Quandt, who is credited with BMW's revival following World War II, owned a 16.7 percent stake in the luxury automaker, while also heading the Quandt family, who collectively own 46.6 percent.

However, a spokesperson for the family said "the stake would remain within the family," reported AP news agency.

Johanna married Herbert Quandt in 1960 after having worked for him in the 1950s.

She took over responsibilities on BMW's board after her husband died in 1982, leaving substantial stakes in the company with her and their children Stefan Quandt and Susanne Klatten.

She handed over responsibilities to her children in 1997, with Stefan having a 17.4 percent stake and Susanne holding a 12.5 percent stake.

Quandt was known for her philanthropy, often raising support for children with cancer and scientific research.

ls/cmk (AP, Reuters, dpa)