Georg Schaeffler

Mother and son jointly own one of world's largest producers of roller bearings, $10 billion (revenues) INA Waelzlager Schaeffler KG. Maria-Elizabeth had headed the business since 1996 when her husband died, while son, Georg, practiced international business law in Dallas, Texas. Georg is now back at his mother's side helping her run the company. Made big news in 2008 when INA announced a $15 billion takeover of much larger Continental AG, Europe's second largest ($26.8 billion sales) tire and auto parts maker, whose shares lost more than half their value as the market crashed. In 2009 INA restructured the $16 billion debt incurred at the takeover; it now holds a 75% stake in Continental whose shares have risen over 85% in past year thanks to a resurgent sector. Though no plans have been announced, an eventual merger of the two companies would create one of the world's largest auto parts suppliers.