9 December 2013

WEG founders named newest Forbes billionaires

Forbes has named the founders of WEG as the newest members of their World's Richest list. Werner Ricardo Voigt, Eggon Joao da Silva and Geraldo Werninghaus founded WEG (then called Eletromotores Jaragua Ltda.) in 1961 in Jaragua do Sul in Brazil. WEG was built on three pillars of sustainability; to people, planet and profit. Sustainability has been a cornerstone for WEG since its inception and remains as important today. In that first year with four workers and the three founders WEG sold 146 motors. In the years since WEG has grown to employ over 27,000 people worldwide and manufacture approximately 68,000 motors daily, 11.5 Million motors per year. WEG is now one of the largest employers in the industry. Forbes has reported that WEG has a market capitalization of $8.46 Billion as of December 5th, 2013. WEG is still controlled by Mr. da Silva, Mr. Voigt and Mrs. Lillian Werninghaus (widow of Geraldo, who passed away in 1999). With their combined 50.1% stake in the company each now has a net worth of around $1.4 Billion. Click here for the original article from Forbes.