Martin Fuererst Net Worth: $2 Billion
The Martin Fuererst net worth is $2 billion dollars. Martin Fuererst is a German businessman and entrepreneur. He was born in Hamburg, Germany on May 20th, 1928. His father was a butcher and his mother worked at a candy store.
He graduated from the Technical University of Munich with a degree in mechanical engineering. After graduation, he joined Siemens AG’s research department in Darmstadt, Germany where he worked until 1972 when he moved to New York City to work for the advertising agency McCann Erickson. Thereafter, he founded his own company called Fuerer & Co., which specialized in making electrical components and systems for automobiles and other consumer products. In 1983, he sold his company to General Electric.
In 1985, Martin Fuererst began to focus on making shoes and footwear. He started out by producing athletic shoes under the brand “Fuerst”. Later in 1986, he opened up a shoe manufacturing plant in Italy called “Martini” (which means “shoe” in Italian). The Martini factory produced high quality shoes for many well known brands such as Nike, Adidas and Puma.
He sold the shoe factory in 2005. In addition, Fuererst owns the German companies Wellendorff and Schmoeckel.
In the late 1990s, Fuererst decided to build a factory in Lycorn, Tennessee to produce Keen shoes. The factory was completed in 2000 after two years of construction. Most of the equipment was purchased from a factory in North Carolina that was shutting down. It took around 100 tractor-trailer loads to transport all the equipment to Tennessee.
The initial investment to build the factory cost around $30 million dollars. The factory makes around 12 million pairs of shoes per year.
The Keen Manufacturing Tour and Factory is open to the public by appointment. It is a popular tourist attraction in Tennessee and around 50,000 people visit the factory every year. The factory offers free tours for school children in the 4th grade and under. The tour is intended to teach children about the benefits of business, manufacturing, and job creation.
Keen also hosts special events at the factory on a regular basis. For example, in September there is a charity walk for cancer.
The Keen brand of shoes and boots are sold around the world and can be found at many large retailers such as Walmart and Target. The shoes are popular with consumers that spend a lot of time outdoors such as hikers, surfers, hunters, and fishermen. Within the past few years, Keen has begun selling shoes and boots for women and children.
Martin Fuererst has received many awards and honors for his business success and entrepreneurship. In addition, he has been recognized for being a generous philanthropist. In 2012, he pledged $10 million dollars to the Smithsonian National Air and Space Museum. He has also served on the Board of Directors at New York University and funds an annual lecture series at the NYU Tandon School of Engineering.
In 2016, he gave $20 million to establish the Fuererst Family Scholars Program at NYU School of Medicine.
To learn more about Martin Fuererst and his business career, you can read his book called “No Boarding Required”. The book provides an interesting look at the process of starting and running a manufacturing company. In addition, there is a brief mention of Keen shoes in the book.
Martin Fuererst created a company that produces a quality product and provides jobs for hundreds of middle class families. The manufacturing process also had a positive impact on the local economy. The city of Lycorn now has one of the lowest unemployment rates in Tennessee because of the factory.
Fuererst is not interested in moving his company to a cheaper location or selling it to a foreign company. He hopes that Keen can continue operating in Lycorn for many years to come.
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