Mercedes is one of the most iconic names in the automobile industry. When asking who owns Mercedes, many people are surprised to learn it’s part of a larger corporate structure. This article explores the ownership, control, financial strength, and associated brands of the famous carmaker.
History of Mercedes
Mercedes-Benz traces its roots back to Karl Benz, who created the first gasoline-powered car in 1886.
In 1926, two companies—Benz & Cie and Daimler-Motoren-Gesellschaft—merged to form Mercedes-Benz. The name came from Mercedes Jellinek, the daughter of an influential businessman involved with Daimler.
Over the years, the company expanded globally, becoming a symbol of luxury, innovation, and engineering excellence.
In 1998, Mercedes merged with the American auto company Chrysler to become DaimlerChrysler. This partnership ended in 2007.
In 2022, Daimler AG rebranded itself as Mercedes-Benz Group AG reflecting a stronger focus on its flagship brand.
Who Owns Mercedes: Largest Shareholders
Mercedes-Benz is owned by Mercedes-Benz Group AG, a publicly traded German company listed on the Frankfurt Stock Exchange. The company has multiple shareholders including institutional investors, private investors, and major strategic partners.
The largest single shareholder of Mercedes-Benz Group AG is Kuwait Investment Authority (KIA) followed by Chinese auto company Geely and BAIC Group.
Here’s a breakdown of the largest, major shareholders of Mercedes-Benz Group AG:
| Shareholder | % Ownership | Approx. Shares | Key Details |
|---|---|---|---|
| BAIC Group | 9.98% | ~106.8 million | Chinese state-owned automaker; strategic partner in China; joint ventures. |
| Geely Holding (Li Shufu) | 9.69% | ~103.7 million | Owned by Chinese billionaire; passive but strategic investment since 2018. |
| Kuwait Investment Authority (KIA) | 6.84% | ~73.2 million | Long-term sovereign wealth fund investor; stable shareholder since 1970s. |
| BlackRock | ~5.5% | ~58.9 million | Largest asset manager globally; passive investor with voting power. |
| The Vanguard Group | ~2.1% | ~22.5 million | US-based index fund giant; passive investment via ETFs and mutual funds. |
| Norges Bank (Norway Sovereign Fund) | ~1.9% | ~20.3 million | Focuses on sustainability and governance; engages with boards on ESG issues. |
| Amundi Asset Management | ~1.1% | ~11.8 million | French fund manager; long-term institutional investor in European markets. |
| State Street Global Advisors | ~0.9% | ~9.6 million | Passive investor; known for proxy voting aligned with ESG frameworks. |
| DWS Group (Germany) | ~0.7% | ~7.5 million | German fund manager; ties to Deutsche Bank; domestic institutional holder. |
| Allianz Global Investors | ~0.6% | ~6.4 million | German financial giant; exposure via insurance and investment portfolios. |
| Individual and Private Investors | ~38% | ~406 million | Includes retail investors, family offices, executives, and employee shareholders. |
Kuwait Investment Authority (KIA) – 6.84%
The Kuwait Investment Authority is one of the oldest sovereign wealth funds in the world. It has held a stake in Mercedes-Benz Group AG since the 1970s. Today, it owns around 6.84% of the company. KIA’s investment is considered passive, meaning it does not actively participate in company management. However, its long-standing presence provides stability and international backing to Mercedes-Benz.
BAIC Group – 9.98%
Beijing Automotive Group Co., Ltd. (BAIC), a state-owned Chinese automaker, holds approximately 9.98% of Mercedes-Benz Group AG. BAIC became a shareholder in 2019. Its relationship with Mercedes-Benz extends beyond ownership, as both companies operate joint ventures for manufacturing and selling vehicles in China. BAIC is the largest single shareholder by percentage. Though it doesn’t control board decisions, it has significant influence, particularly in the Chinese market.
Geely Holding – 9.69%
Chinese entrepreneur Li Shufu, through Zhejiang Geely Holding Group, owns about 9.69% of Mercedes-Benz. He acquired this stake in 2018, making headlines as one of the most unexpected moves in the automotive sector. Geely does not have a seat on the Supervisory Board but remains a strategic investor. The stake helps Geely build ties with European auto technologies and future mobility solutions.
BlackRock – Estimated 5.5% (Institutional Investor)
BlackRock, the world’s largest asset manager, holds an estimated 5.5% of Mercedes-Benz Group AG through its various funds and investment vehicles. As a passive institutional investor, BlackRock does not influence daily operations but plays a major role in shareholder voting and financial market perception.
The Vanguard Group – Estimated 2.1%
The Vanguard Group, a major U.S.-based investment firm, holds an estimated 2.1% stake in Mercedes-Benz through its index and ETF portfolios. Vanguard is known for its passive investing model and long-term investment horizon. Though it doesn’t seek active control, it often votes on shareholder resolutions that impact corporate governance and ESG issues.
Norges Bank Investment Management (NBIM) – Estimated 1.9%
Norges Bank Investment Management, which manages Norway’s sovereign wealth fund, owns around 1.9% of Mercedes-Benz Group AG. NBIM focuses heavily on sustainability, ethical governance, and long-term value creation. The fund is known for engaging with companies on environmental and social issues, even without demanding direct board involvement.
Amundi Asset Management – Estimated 1.1%
Amundi, based in France, is one of Europe’s largest asset managers. It holds a small but notable stake in Mercedes-Benz, estimated at 1.1%. Amundi typically invests in blue-chip European firms through its mutual and pension funds. While not an activist investor, it plays a role in proxy voting and supports governance practices aligned with ESG standards.
State Street Global Advisors – Estimated 0.9%
State Street, another major U.S.-based institutional investor, owns about 0.9% of the company. It manages portfolios on behalf of pension funds, governments, and other large clients. State Street tends to support management proposals but does monitor companies for risk, board diversity, and long-term value alignment.
DWS Group – Estimated 0.7%
DWS Group, formerly part of Deutsche Bank, holds a stake of roughly 0.7%. As a German-based investment manager, DWS often includes Mercedes-Benz Group AG in its core portfolios. It also reflects domestic investor interest and plays a small but visible role in the company’s governance ecosystem.
Allianz Global Investors – Estimated 0.6%
Allianz, one of Germany’s largest financial groups, owns an estimated 0.6% of Mercedes-Benz through its investment arm. While Allianz is more known for its insurance business, it maintains stakes in leading German companies through various funds. It supports shareholder engagement focused on stability and long-term growth.
Private and Retail Shareholders – ~38%
Approximately 38% of Mercedes-Benz Group AG’s shares are held by individual investors, including both retail shareholders and notable high-net-worth individuals. These investors contribute to market liquidity and company valuation but generally do not influence corporate strategy unless they hold a significant stake.
German Family Offices and Wealthy Individuals
Several German family offices and private investors have historically maintained investments in Mercedes-Benz. These include heirs of industrial dynasties and entrepreneurs who favor long-term holdings in blue-chip German companies.
One such example is the Quandt family, although better known for their controlling stake in BMW, they are often associated with the broader German automotive landscape and have been linked to smaller diversified portfolios, including shares in competitors like Mercedes-Benz through passive investments.
Stefan Quandt (Indirect Association)
While Stefan Quandt is a major figure in BMW, some investment arms associated with his extended network have been rumored to hold minor positions in Mercedes-Benz Group AG. These are not strategic stakes but may represent hedging strategies or exposure to the wider automotive sector.
Former Daimler Executives and Board Members
Some former Daimler executives, including past members of the supervisory or management board, have retained shares after their tenure. These are typically part of retirement or bonus packages and do not confer control but do align personal wealth with the company’s performance.
Employee Shareholders
Mercedes-Benz has offered employee share purchase programs in the past. Thousands of its employees and retired staff own shares, either through direct purchase or as part of compensation plans. This aligns internal stakeholders with long-term shareholder value and adds to the private ownership percentage.
German and European Retail Investors
Mercedes-Benz remains a favorite among retail investors in Germany, Austria, Switzerland, and France. Many long-term retail holders are middle-class investors or retirees who view Mercedes-Benz as a reliable dividend-paying stock with a strong heritage and value.
Other Public Figures and Entrepreneurs
While no globally famous individuals are publicly listed as major shareholders of Mercedes-Benz Group AG today, it’s common for wealthy European entrepreneurs and investors to hold minority stakes through private investment firms, family trusts, or wealth management accounts. Due to data privacy and reporting thresholds, these holdings rarely become public unless they exceed 3% of voting rights (per German disclosure laws).
Who Controls Mercedes?
The company is controlled by its Supervisory Board and Board of Management. The Board of Management handles daily operations and long-term strategy. The Supervisory Board oversees decisions and represents shareholders.
These bodies make strategic decisions, set the company’s direction, and represent shareholder interests.
Supervisory Board: Oversight and Governance
Mercedes-Benz operates under a two-tier board system, common in German corporations. The Supervisory Board oversees the company and appoints the Board of Management. It is composed of 20 members:
- 10 shareholder representatives elected at the annual general meeting (AGM).
- 10 employee representatives, including union members.
This structure reflects Germany’s co-determination law, which ensures employees have an equal say in governance. The Supervisory Board approves major decisions, including investments, mergers, and executive appointments.
Key Supervisory Board Members
- Bernd Pischetsrieder – Chairman. Former CEO of BMW and Volkswagen. He brings deep automotive industry experience and leads board discussions on corporate strategy.
- Michael Brecht – Deputy Chairman and chief representative of employee interests, representing the Daimler works council and union positions.
- Other members include senior figures from financial, industrial, and academic backgrounds.
Board of Management: Day-to-Day Leadership
The Board of Management is responsible for daily operations, strategic execution, and global business decisions. It consists of top executives from key divisions like finance, production, HR, marketing, and vehicle development.
Each member oversees a particular function or geographic region. The board reports directly to the Supervisory Board.
Ola Källenius – Chairman of the Board of Management (CEO)
Ola Källenius is the Chairman of the Board of Management and effectively the CEO of Mercedes-Benz Group AG.
- Nationality: Swedish
- Born: 1969
- Education: MBA from the University of St. Gallen, Switzerland; Master’s degree in finance and management from the Stockholm School of Economics.
- Career Highlights:
- Joined Daimler-Benz in 1993.
- Held leadership positions across AMG, Mercedes-Benz Cars, and Group Research & Development.
- Became CEO in May 2019, succeeding Dieter Zetsche.
Under Källenius, Mercedes-Benz has aggressively pushed toward electrification, sustainability, and software innovation. He has overseen the launch of the EQ electric vehicle lineup and pushed for carbon neutrality by 2039. He is considered a strategic, forward-thinking leader who balances tradition with transformation.
Employee Influence and Co-Determination
Mercedes-Benz has a strong culture of employee participation in governance. Half of the Supervisory Board members represent employees and labor unions. This gives workers significant influence over company policies, especially around operations, HR, and restructuring.
Shareholder Voting Rights and Control
Despite the presence of large shareholders like BAIC, Geely, and KIA, none hold an absolute controlling interest. Shareholder votes at the AGM determine major decisions like dividend approval, board appointments, and capital structure.
Because no single shareholder owns more than 10%, the company remains widely held and institutionally managed. Control is maintained by the board and executive leadership rather than a single dominant entity.
Annual Revenue and Net Worth of Mercedes
In 2024, Mercedes-Benz Group AG faced significant challenges, particularly in the Chinese market, leading to a notable decline in financial performance. The company’s total revenue decreased by 4.5% to €145.6 billion down from €152.4 billion in 2023. Net profit also saw a substantial drop, falling to €10.4 billion from €14.5 billion the previous year.
Key factors contributing to this downturn included a 17% decline in sales in China and a 25% drop in Germany. Additionally, sales of battery electric vehicles decreased by nearly a third, totaling 42,544 units. The adjusted return on sales fell to 4.7% in the third quarter, significantly below the company’s minimum target of 8%.
As of April 2025, Mercedes-Benz Group AG’s market capitalization stands at approximately €57.66 billion, reflecting a 24.64% decrease over the past year. This decline aligns with the company’s reduced profitability and ongoing challenges in key markets.
Below is a comprehensive table detailing Mercedes-Benz Group AG’s annual revenue and market capitalization over the past 10 years:
| Year | Revenue (USD) | Market Cap (USD) | Market Cap (EUR) |
|---|---|---|---|
| 2024 | $161.20 B | $65.19 B | €60.00 B |
| 2023 | $166.14 B | $73.91 B | €67.00 B |
| 2022 | $158.03 B | $70.09 B | €64.00 B |
| 2021 | $155.78 B | $81.88 B | €74.00 B |
| 2020 | $169.47 B | $76.04 B | €69.00 B |
| 2019 | $193.30 B | $59.16 B | €53.00 B |
| 2018 | $196.80 B | $56.18 B | €50.00 B |
| 2017 | $188.52 B | $90.44 B | €81.00 B |
| 2016 | $169.12 B | $80.00 B | €72.00 B |
| 2015 | $165.35 B | $90.74 B | €82.00 B |
Brands and Companies Owned by Mercedes
Mercedes-Benz Group AG owns a range of companies and brands that operate across the automotive, mobility, and financial services sectors. These subsidiaries support the core business and help Mercedes-Benz maintain its global leadership in premium vehicles and mobility innovation.
Below is a list of the primary brands and companies owned and operated by Mercedes-Benz AG:
| Company/Brand | Ownership Stake | Details |
|---|---|---|
| Mercedes-Benz AG | 100% | Core company responsible for manufacturing Mercedes-Benz cars, vans, and luxury vehicles. |
| Mercedes-Benz Cars | 100% | Division focusing on passenger vehicles under the Mercedes-Benz brand. |
| Mercedes-Benz Vans | 100% | Responsible for commercial vehicles, including Sprinter and Vito models. |
| Mercedes-Benz Mobility AG | 100% | Provides financial services, leasing, fleet management, and mobility solutions. |
| Mercedes-AMG GmbH | 100% | High-performance division, creating AMG variants of Mercedes-Benz models. |
| Mercedes-Maybach | 100% | Ultra-luxury division producing elite variants of Mercedes-Benz cars. |
| EQ (Mercedes-EQ) | 100% | Sub-brand for Mercedes-Benz’s electric vehicle lineup, including the EQS, EQE, and EQB models. |
| smart (Joint Venture with Geely) | 50% | Joint venture with Geely for the smart brand, focusing on electric compact city cars. |
| Mercedes-Benz Bank AG | 100% | German bank providing financial services, including leasing, insurance, and vehicle financing. |
| Mercedes-Benz Group Services Berlin | 100% | Administrative services supporting the parent company and subsidiaries. |
| Formula 1 Team (Mercedes-AMG Petronas F1 Team) | ~33.33% (via AMG) | Joint ownership with Toto Wolff and INEOS, responsible for F1 operations, engineering, and racing. |
Mercedes-Benz AG
Mercedes-Benz AG is the central automotive company within the group. It is responsible for the development, production, and sales of passenger vehicles and vans under the Mercedes-Benz and Mercedes-Maybach brands.
This subsidiary employs over 170,000 people worldwide and manages a global network of production plants. It oversees research, design, marketing, and global logistics. Mercedes-Benz AG is the public face of the group and generates the majority of its revenue.
Mercedes-Benz Cars
Mercedes-Benz Cars is a division within Mercedes-Benz AG focused exclusively on passenger vehicles. It includes core models such as the C-Class, E-Class, S-Class, GLA, GLC, and electric EQ models like the EQE and EQS.
This segment prioritizes innovation in electrification, autonomous driving, connected mobility, and luxury interior design. It is the most recognizable part of the brand globally.
Mercedes-Benz Vans
Mercedes-Benz Vans handles the design and manufacturing of commercial vehicles, including well-known models like the Sprinter, Vito, Citan, and EQV electric vans.
The division targets business customers, fleet operators, and logistics companies. It has a strong presence in Europe and North America and plays a growing role in urban electric mobility.
Mercedes-Benz Mobility AG
Formerly known as Daimler Mobility AG, this subsidiary provides financing, leasing, insurance, and fleet management services. It supports customers and dealers across more than 40 countries.
Mercedes-Benz Mobility also explores future-oriented services such as mobility subscriptions, digital car rentals, and charging solutions for EVs. As of 2024, the company had over €130 billion in managed assets which is critical for facilitating customer access to Mercedes-Benz vehicles.
Mercedes-AMG GmbH
Mercedes-AMG is the high-performance division of Mercedes-Benz. Known for engineering powerful variants of core models, AMG combines luxury with motorsport-derived performance.
Founded in 1967 and acquired fully by Daimler in 2005, AMG produces iconic models such as the AMG GT, C63 AMG, and E63 AMG. The brand also plays a key role in Formula 1 technology transfer and performance innovation.
Mercedes-Maybach
Mercedes-Maybach is the brand’s ultra-luxury sub-brand, catering to high-net-worth individuals. It offers elite variants of Mercedes-Benz models such as the S-Class Maybach and Maybach GLS.
These vehicles feature extended wheelbases, handcrafted interiors, and advanced personalization options. The Maybach name is synonymous with prestige and exclusivity, especially in China, the Middle East, and North America.
EQ (Mercedes-EQ)
Mercedes-EQ is a brand dedicated to electric vehicles (EVs). It includes models such as the EQA, EQB, EQE, and EQS. The EQ sub-brand is central to Mercedes-Benz’s plan to go all-electric by the end of the decade in key markets.
EQ models are built on next-generation EV platforms with a focus on range, sustainability, and digital experiences.
smart (Joint Venture with Geely)
Mercedes-Benz co-owns Smart Automobile Co., Ltd. with Chinese automaker Geely. Each holds a 50% stake. The brand, originally launched by Daimler in the 1990s, now produces fully electric compact city cars.
The new smart models, such as smart #1 and smart #3, are designed by Mercedes-Benz and manufactured in China under Geely’s production and engineering expertise. It marks a shift from urban microcars to stylish compact EVs.
Mercedes-Benz Bank AG
Based in Stuttgart, Mercedes-Benz Bank is one of Germany’s leading automotive banks. It offers vehicle financing, leasing, insurance, and savings products. It supports both retail and fleet customers and is regulated under German banking law.
The bank helps improve vehicle sales by offering flexible financial products and also contributes to the group’s overall earnings through interest income.
Mercedes-Benz Group Services Berlin GmbH
This subsidiary handles administrative and business services for the group, including financial control, HR, procurement, and compliance operations. It plays a back-office support role but is critical for the group’s efficiency.
Formula 1 Team (Mercedes-AMG Petronas F1 Team)
Mercedes-Benz Group AG, through Mercedes-AMG, owns a majority stake in the Mercedes-AMG Petronas Formula One Team. The remaining shares are owned by Toto Wolff (Team Principal and CEO) and INEOS, a UK-based chemical company.
The team is headquartered in Brackley, UK, and has won eight Constructors’ Championships between 2014 and 2021. The F1 team serves as a platform for performance R&D, brand prestige, and cutting-edge engineering innovation.
Final Words
So, who owns Mercedes? The answer lies in a mix of public shareholders, institutional investors, and strategic partners like Kuwait, Geely, and BAIC.
While no single entity holds full control, the company operates with a balanced structure that blends shareholder interest, executive vision, and employee input. Mercedes-Benz remains a symbol of luxury and innovation under the umbrella of Mercedes-Benz Group AG.
FAQs
Who is the biggest shareholder of Mercedes-Benz?
Geely and BAIC each hold nearly 10% of the shares, with BAIC being the slightly larger shareholder. Kuwait Investment Authority is also a major long-term stakeholder with about 6.8%.
Is Mercedes still part of Daimler?
No. Daimler AG rebranded to Mercedes-Benz Group AG in 2022. The move was part of a strategy to focus more on its core automotive brand.
Does China own Mercedes-Benz?
No, but Chinese companies Geely and BAIC hold significant stakes. However, they do not have majority ownership or full control.
Who is the CEO of Mercedes-Benz?
Ola Källenius is the CEO and Chairman of the Board of Management. He has held the role since 2019.
Is Mercedes a publicly traded company?
Yes. Mercedes-Benz Group AG is listed on the Frankfurt Stock Exchange under the ticker symbol MBG.
Is Mercedes still owned by Chrysler?
No, Mercedes-Benz was previously part of DaimlerChrysler (1998-2007), a merger between Daimler-Benz (Mercedes) and Chrysler. However, in 2007, Daimler sold its stake in Chrysler, and the two companies went their separate ways. Mercedes-Benz is now owned by Mercedes-Benz Group AG.
Who owns the Daimler company?
The Daimler company, now known as Mercedes-Benz Group AG, is primarily owned by public shareholders, including institutional investors (e.g., BlackRock, Vanguard) and major stakeholders like BAIC Group and Geely Holding. Mercedes-Benz Group AG is publicly traded, so ownership is spread across a variety of investors.
What does AMG stand for?
AMG stands for Aufrecht, Melcher, and Großaspach:
- Aufrecht and Melcher are the founders.
- Großaspach is Aufrecht’s birthplace.
AMG is Mercedes-Benz’s high-performance division, known for modifying vehicles to enhance their performance and luxury features.
Did Mercedes buy RAM?
No, Mercedes-Benz did not buy RAM. RAM is a brand owned by Stellantis, which was formed through the merger of Fiat Chrysler Automobiles (FCA) and PSA Group. Mercedes-Benz has no ownership of RAM.
Who owns Maybach?
Maybach is owned by Mercedes-Benz Group AG. It operates as an ultra-luxury sub-brand under Mercedes-Benz, producing high-end models like the Maybach S-Class.
Does BMW own Mercedes?
No, BMW does not own Mercedes-Benz. Mercedes-Benz is owned by Mercedes-Benz Group AG, a separate entity from BMW, which is owned by the BMW Group.
Does Mercedes use Chrysler parts?
Mercedes-Benz no longer uses Chrysler parts since the dissolution of DaimlerChrysler in 2007. Any parts used in Mercedes-Benz vehicles are now sourced from its own production facilities or third-party suppliers.
Why did Daimler Chrysler fail?
The DaimlerChrysler merger failed primarily due to cultural differences between the German and American companies, strategic misalignments, and failure to integrate the brands effectively. It was also difficult to align product offerings and management styles, leading to the dissolution of the merger in 2007.
Does Chrysler use Mercedes engines?
Yes, during the time of the DaimlerChrysler merger, Chrysler used some Mercedes-Benz engines in certain models, like the Chrysler 300C. However, this partnership ended after the split in 2007.
Is Mercedes owned by Volkswagen?
No, Mercedes-Benz is not owned by Volkswagen. Mercedes-Benz is owned by Mercedes-Benz Group AG, whereas Volkswagen is a separate company owned by the Volkswagen Group.