Celebrity Then And Now
Posted by Ryan Neal
Celebrity Then And Now
Publication: RidiculouslyExtraordinary. Posted by Ryan Neal
Daughter of Heinz Bauer
Currently Known For:
Heiress to Bauer Media Group Fortune
Daughter of Heinz Bauer
Here in the United States, you might know of some media giants like the Walt Disney Company or Hearst Media Group, but there are others around the world that also have billions of dollars in revenue. Amongst them is the Bauer Media Group of Germany, which has a massive stake throughout Europe, with hundreds of magazines, websites, TV stations and more. Bauer has always been a family company since its beginnings, and the current benefactor to the media group’s fortune is 41 year old Yvonne Bauer, the company’s CEO.
The Bauer Media Group began in earnest when Ludolph Bauer started a printing company in 1875, mostly sticking to business cards before eventually getting into newspaper advertising. The company then expanded throughout the early 20th century, getting into printing their own newspapers and establishing magazines. The biggest boom came in the 1970s and 1980s, when Bauer got into television and eventually online media. In 1984, Heinz Bauer took over almost all of the company from his father Alfred.
Heinz has had four daughters with his wife Gudrun, with Mirja being the oldest. She went into editing for her career, working with Life & Style magazine. Second youngest daughter Nicola followed in her footsteps, editing for InTouch magazine, while youngest daughter Saskia works for West. Born as the third child in 1977, though, Yvonne would be more interested in the business side of things instead of what was on the pages of the magazines that her family created.
Bauer figured that eventually she’d join the ranks of her family members that have gone on to work for Bauer Media Group. Beforehand, though, she attended the University of Bamberg where she studied German philology, earning her degree in the early 2000s. From there, she became an apprentice at Hoffmann and Campe, a publishing house, eventually joining Bauer Media Group in 2005.
The transfer of wealth within the Bauer family has created many billionaires, and Yvonne is comfortably among them. Bauer has been a multi-billionaire for several years now, and it’s currently estimated that she’s worth $2.9 billion. Being amongst the world’s billionaires for some time now, Bauer has seen her net worth rise and fall just like any other. Most notably, Bauer hit a peak in 2014 when she was worth an estimated $3.5 billion, which dropped by nearly a full billion two years later. Her net worth has rebounded since then, and it’s estimated that Bauer is among the 750 richest people in the entire world.
The reason why Bauer is worth so much more than her siblings is because she made her way up through the ranks as an executive in the 2000s. After joining the company, Bauer had visions of taking over for her father, and the inheritance that he left behind showcased that. When Heinz Bauer retired from the business in 2011, he left behind 85 percent of the company to Yvonne, while her siblings received just five percent each. That’s what sets her apart, as she’s currently operating as the CEO for the family company.
On a personal note, Bauer has also added to the generations of family members that could potentially take over for the company one day. In 2014, Bauer married a journalist in her native Germany named Enno Koch. Since then, the couple has had twins, and live close to the Bauer headquarters. Since the Bauers have been keen on maintaining their status as a family business, one of the twins could someday take over for their mother as the CEO for Bauer Media Group.
Bauer hasn’t deviated much from the family’s original plan of having print publications be their primary focus. “Print is our core business,” she said. “We make popular, emotional magazines that are read by millions of people every week. Well-made magazines will always find their readers. This has become apparent by the new developments of the past few years, and the adaptations of foreign publications for new markets...We successfully addressed women aged 50 and up, and this is a fast-growing target group.”
Bauer added that “We are investing in print because it pays off - also with regard to digitalization. Strong media brands are the currency we can use to thrive in the digital world. Print and digital offerings profit from each other's media strength and are interconnected. A media brand must be featured on all channels, also as an e-paper or e-magazine, with apps and mobile offerings. We are already very successfully applying our competencies from the print sector to the digital sector.”
It’s clear that Bauer has a plan for her family’s company moving forward, and says that thinking long-term is what has kept it so successful, as well as what’s going to keep it running in the future. The family aspect creates a “culture” she says, and that these types of companies have a “staying power” that don’t rely on having to hastily invest in new trends. Bauer seems to have a good grasp on how family businesses stick around for generations, which is why she figures to be so successful down the line, only adding to what is already an astounding net worth.