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Ferdinand Piëch: Fortune Transferred to Austrian Foundations

Published: September 20, 2010; 12:36 · (Vindobona)

The 73-year-old Porsche co-owner and Volkswagen's supervisory board chairman Ferdinand Karl Piëch has bequested his fortune.

Ferdinand Piëch: Fortune Transferred to Austrian Foundations / Picture: © Wikipedia / Stuart Mentiply

"Focus" magazine reported this weekend that Piëch has transferred his billion-dollar empire to two Austrian private foundations.

His purpose is to avoid the sale of parts of the company's assets by his heirs.

Piëch is one of the most powerful car industry managers in the world. He confirmed to Focus: "I have the secure future of our company at heart. Therefore, and in…

This article includes a total of 331 words.

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