10 Things You Didn’t Know About Andreas Struengmann & Family

Andreas Struengmann, along with his twin brother Thomas, is celebrated as one of the wealthiest individuals in Germany with their fortunes tied to their highly successful pharmaceutical company. You are probably aware of the success story associated with their generics producer, Hexal AG, which they sold to Novartis for a hefty price in 2005.

However, beneath the surface of this business achievement, there are deep layers of this family’s fascinating journey which are not commonly known. Here are 10 things you might not have known about Andreas Struengmann and his family.

1. They are twins

Andreas Struengmann and his brother, Thomas, were born just a few minutes apart in 1950 in Germany. Their identical appearances are sometimes confused by people but they have somehow managed to turn this to their advantage in their ventures, with a practical approach they aptly call “twin management.”

Both brothers shared a mutual interest in the pharmaceutical industry and eventually ventured into entrepreneurship together. Always supporting one another in their endeavors, they go by the mantra, “Two heads are better than one.”

2. They were behind the first German bio-generics

The Struengmann brothers are celebrated pioneers in the German pharmaceutical industry. They were the ones who introduced bio-generics, affordable versions of biological drugs, in Germany through their company Hexal AG. This revolution had a huge impact on the industry, making these valuable treatments accessible to a larger section of the population.

Through their forward-thinking and innovative approach, the brothers’ company not only gained a broad client base domestically, but also attracted international attention, leading to its acquisition by Novartis in 2005.

3. Showed keen interest in medicine at a young age

Born into a middle-class family, both Andreas and Thomas demonstrated a passion for medicine at a very young age. Their childhood was filled with curiosity and interest about medical prescriptions, diagnoses, and treatments.

Their parents encouraged this interest, which eventually guided them to pursue medical studies at University and opted for careers in the pharmaceutical industry – a decision that would lay the groundwork for their future success.

4. They are Private Equity Investors

After selling Hexal AG to Novartis, they didn’t retreat from the business arena. On the contrary, they re-invested their wealth into other ventures through their company Santo Holding. This holding company primarily focuses on various private equity investments with stakes in multiple firms across the globe.

Their investment activities have been in diverse fields, including real estate, tech firms, and renewable energy, showcasing their willingness to explore different sectors and their ability to identify rewarding opportunities.

5. They are passionate philanthropists

Charity holds a special place in the hearts of the Struengmann brothers. They have been consistently contributing to social causes, and most prominently, they have committed more than $100 million for developmental programs in Africa.

The Struengmann brothers have earmarked funds particularly for educational programs designed to help underprivileged children in sub-Saharan Africa. Through their financial aid, they are focused on making a change in the lives of these children and giving them a chance for a better future.

6. They are champions of renewable energy

The Struengmanns are advocates of renewable energy and have made substantial investments in this sector. They are investors in SolarWorld, a leading company in this space, showing their dedication to sustainable energy development.

They believe that renewable energy is not only a smart investment but also have a profound impact on the global effort to move towards sustainable and clean energy sources.

7. Their connection to Tesla

Connections of the Struengmann family to Tesla go beyond being just avid supporters or car owners. They are investors in Tesla Grohmann Automation, a subsidiary of Tesla, Inc., making them part of the future of the motor industry.

This step towards advanced automation and car manufacturing underscores their visionary approach to investing and their eagerness to be associated with the future of industry.

8. They support future entrepreneurs

Believing in giving back to the community, the Struengmann brothers have established a program to support up-and-coming entrepreneurs who aim to materialize their innovative ideas into successful ventures.

Through their programs, they provide funding, mentorship, and business-related advice to help aspiring entrepreneurs scale up their start-ups effectively and efficiently.

9. They are art collectors

Both brothers are keen art collectors, and they indulge their penchant for fine art by acquiring distinguished pieces from around the globe. With European classic and modern art as their key areas of interest, their art collection features an exquisite array of art standings in Europe.

10. Their dedication to research in Alzheimer’s disease

The Struengmann family has a deep-seated commitment to funding research into Alzheimer’s disease. They have pledged substantial amounts towards studies aimed at gaining more understanding of this disease and towards developing better therapies.

As part of their ongoing philanthropy, they hope that their contributions will eventually lead to breakthrough treatments for this debilitating disease.

In conclusion, the Struengmann family’s journey is filled with a mix of entrepreneurial dashes, philanthropy, and personal hobbies. It is clear that Andreas Struengmann and Thomas are not only successful entrepreneurs but also compassionate individuals dedicated to making a difference.

References:

Andreas Struengmann – Forbes Profile

Bloomberg Billionaires Index – Andreas Struengmann