As of: February 19, 2024, 7:18 a.m
By: Sina Alonso Garcia
Comments
Press
Split
No speculation: The wealthy entrepreneur Wolfgang Grupp relies on security when investing.
In an interview he explains why he never went public with Trigema.
Burladingen - The textile company Trigema from Burladingen in Swabia ( Zollernalbkreis ) enjoys cult status in Germany - not least because of its long-standing company boss Wolfgang Grupp.
The patriarch, who is considered eccentric, stands up for Germany as a production location like no other and managed to survive many upheavals in the textile industry with his company and make hefty profits.
Despite the success, the 81-year-old never thought of taking Trigema public.
Why?
“I always said: I have to earn my money myself,” says Grupp in an interview with the stock market magazine
Der Aktionär
.
“Because other people just want it.
And that's why I never speculated on the stock market, but gave what I had as reserves to a friendly bank where I knew the owner personally." It is the bank's responsibility to maintain the value of the money.
“But I have to make decisive profits in the company.”
“No speculation!
I want safe investments”: This is how the ex-Trigema boss works when it comes to investments
When it comes to investing, former Trigema boss Wolfgang Grupp relies on security.
© Bernd Weißbrod
Grupp is convinced that he alone is responsible for the profits.
“I have to make sure of that.
But not on the stock market.” He admits that he doesn’t mind if his money “perhaps gets a little more.”
“But we earn the money in the company.” It is also clear in an interview with the financial portal
Finanz100
, which is now some time ago (2021), that Grupp wants nothing to do with stocks.
He tells his banker friends who look after his money: “No speculation!
I want safe investments.”
Our Baden-Württemberg newsletter regularly provides you with all the important news from the state
.
Click here for registration
.
“Anyone who recommends an investment to me wants to earn money from me!”, Grupp is certain.
“Until the introduction of negative interest rates, I had fixed-term deposits at my bank,” he explains.
However, this has changed in times of negative interest rates.
Since then, he has relied on the bankers he trusts to manage his assets.
When it came to money matters, he always followed his grandfather.
“He was a great role model for me, and not just with money,” said Grupp.
“He died at 60 when I was 14. Dealing with money is a matter of education.” As he explains, he and his two siblings went to boarding school and were raised generously.
At the same time, you also had to take on a lot of responsibility early on.
Surname |
Wolfgang Grupp |
Born |
April 4, 1942 in Burladingen |
Time as managing director at Trigema |
1969-2023 |
Wife |
Elisabeth Grupp |
Children |
Bonita Grupp, Wolfgang Grupp Junior |
My news
100-year calendar with spring forecast – when will it finally get warm?read
Read why a village in Baden-Württemberg had to be abandoned 210 years ago
Seven of the best wellness hotels in Baden-Württemberg read
“We have failed”: Wolfgang Grupp shares against competitors
The smallest medium-sized town in Germany is located in Baden-Württemberglesen
The smallest medium-sized town in Germany is located in Baden-Württemberg
Wolfgang Grupp doesn't just think little of stocks.
He also almost never uses a credit card: “A Wolfgang Grupp pays everything in cash,” is his credo.
This means he has to control less afterwards, he says.