Volkswagen Group is distributing more than 3.27 billion euros to investors for the 2019 calendar year. About 1 billion euros will go to the Porsches and Piechs, whose holding company has just increased its stake in the automaker to 53.3 percent.
In normal circumstances, such long-term anchor investors are regarded as important for stability and protection from hostile shareholders, speculators or shaky hands who might dump their holdings when times are hard.
The Porsche-Piech and Quandt families are not usually in the spotlight. That’s now changed and anger against them is building.
“With ownership comes responsibility,” tweeted former German politician Christopher Lauer, citing a phrase from the country’s constitution. “You cannot hold more than 40 percent of BMW, have a net worth of circa 38 billion euros, rake in 9 billion euros worth of dividends from BMW over 10 years and then expect the state to come save you.”
Opponents are organizing under the hashtag #Abfckpraemie on…
