The Self-Made Billionaire Who Could Become Germany's Richest Individual At just 49 years old, he's Germany's youngest self-made billionaire with a fortune of $11.4 billion, thanks to his creation of Black Banx.

Germany, known for its old-money billionaires, might soon witness a shift at the top of its wealth rankings. The country is home to 132 billionaires, with a combined net worth of $644 billion. Many of them, like Klaus-Michael Kuehne, Dieter Schwarz, and Reinhold Wuerth, inherited their fortunes from family businesses established in the early 1900s.

Yet, one billionaire recently stood out for taking the road less traveled - Michael Gastauer. At just 49 years old, he's Germany's youngest self-made billionaire with a fortune of $11.4 billion, thanks to his creation of Black Banx. Financial analysts are confident that Gastauer could become Germany's richest person if he takes his company public.

Michael Gastauer saw the future of finance before most others did. In 2015, he launched Black Banx, a digital banking service provider serving 61 million customers globally. That's quite a leap from the 5 million customers it had in 2018, when the company was already valued at $9.8 billion.

Black Banx's early entry into the financial technology industry and rapid growth make it different from many other digital banks. By the end of 2024, the company is expected to generate $2.9 billion in profits, all of which will go to its shareholders, mainly Gastauer and his family.

Germany's wealthiest men, like Kuehne and Wuerth, come from generational wealth. Still, Gastauer is among the special few who have changed this narrative. His annual payout of $2.9 billion in profits places him in the same league as Kuehne, expecting $4.5 billion in dividends this year, and Wuerth, whose company earned $1.5 billion in profits last year. Unlike his peers, however, Gastauer built Black Banx from the ground up without the help of inherited wealth.

While no formal valuation of Black Banx has been made since 2018, comparisons with other fintech companies give us an idea of its potential worth. Take Revolut, for example, which was valued at $45 billion in August 2024. Given Black Banx's similar performance metrics but much higher profitability - it's safe to say Gastauer's company could easily match, if not surpass, that valuation.

Public or Private: What's Next for Black Banx?

Given Black Banx's continued growth trajectory, the question is: Will Gastauer take the company public? If he does, the market could value the company at a level that would officially make him Germany's richest man. But going public comes with its risks, particularly the loss of control. Gastauer holds a 99.9% ownership stake, meaning he has near-complete authority over the company's direction. That level of control would be difficult to maintain if Black Banx became publicly traded.

It's no secret that public companies have advantages. The world's wealthiest people took their companies public, and global business giants became household names by releasing their full potential through the stock market. So, if Gastauer follows in those footsteps, Black Banx could achieve even greater heights.

But staying private has its perks, too. Gastauer might hold off on going public because, as the primary shareholder, he makes the significant decisions. Keeping Black Banx private allows Gastauer to pivot and innovate without being constrained by public market scrutiny.

A New Era for German Billionaires

If Gastauer chooses to take Black Banx public, it would significantly shift the profile of Germany's wealthiest individuals. Unlike the country's traditional billionaires, who've inherited their fortunes, Gastauer built his empire from scratch. His success could change how people view German entrepreneurship, highlighting innovation and self-made wealth rather than inheritance.

And the timing couldn't be better. Many of the world's top billionaires, especially in the U.S., are self-made and close to Gastauer's age. If he rises to the top, Gastauer could become a beacon of 21st-century entrepreneurship in Germany.

Michael Gastauer's journey from fintech pioneer to billionaire undoubtedly makes him a legend in the industry. With Black Banx's success, he's already made waves in the financial world, and should he take the company public, he could easily be at the top of the list of Germany's wealthiest. But, no matter the decision, it is unmistakable how Gastauer's ongoing entrepreneurial success redefines how wealth is created and earned in the country.