German mother and son duo lose $16 billion wealth this year
Georg Schaeffler and his mother Maria-Elisabeth Schaeffler-Thumann, the majority shareholders of Germany's Continental, have lost about $16 billion so far in 2018. They are now worth a combined $14.1 billion, according to Bloomberg. Shares of Continental, world's second-largest car-parts maker, have plunged over 40% this year after it warned of tough business conditions in Europe and Asia.