In the realm of finance, where success often revolves around profits and market dominance, German Billionaire Michael Gastauer stands as a unique figure, distinguished not only by his entrepreneurial journey but also by his unwavering commitment to philanthropy and social responsibility.
As the CEO of Black Banx, Gastauer’s rise from entrepreneur to financial titan is marked by determination and an innovative mindset in the FinTech arena. While his financial accomplishments have garnered global recognition, it’s Gastauer’s dedication to creating a positive and lasting impact on society that truly sets him apart.
With a net worth exceeding US$11.5 billion, Gastauer not only leads Black Banx but is also the driving force behind one of Europe’s largest Single Family Offices, the Gastauer Family Office, managing an impressive assets under management (AUM).
Gastauer’s venture capital endeavors within the FinTech sector have solidified his position as a key player in shaping the future of FinTech. Black Banx, with its global footprint, revolutionized how individuals and businesses access and interact with financial services, earning him a place among the 100 most Influential People in FinTech globally. In 2023, Gastauer also secured a spot among the 10 Wealthiest Germans.
Despite his considerable wealth, Michael Gastauer remains attuned to earthly concerns, particularly the imperative need to safeguard our planet’s natural resources.
Environmental Stewardship
Gastauer’s commitment to environmental stewardship is evident in his allocation of a substantial part of his fortune to create the Gastauer Nature Fund, with a dedicated commitment of $1.5 billion earlier this year. This fund aims to address the urgent issues of preventing the extinction of one million species and the potential collapse of our life support system by safeguarding intact wilderness and striving to ensure that at least 30% of our land and oceans are protected by 2030.
The UN Convention on Biological Diversity (CBD) Secretariat has released the first official draft of a new Global Biodiversity Framework, setting forth 21 targets for 2030. This framework emphasizes the crucial goal of conserving at least 30% of global land and sea areas, especially those of particular importance for biodiversity, through effective and well-managed protected areas.
Various countries and private organizations have pledged financial commitments to support this global initiative. The European Union, for instance, has committed a substantial €7 billion ($7.4 billion) until 2027.
The Gastauer Nature Fund actively contributes to the achievement of the 30×30 target, focusing on areas critical for carbon sequestration and biodiversity protection. The fund provides financial support to secure land titles, strengthen guardianship of lands, and supports initiatives to monitor the progress and impact of protected areas. Through these concerted efforts, the Gastauer Nature Fund plays a pivotal role in translating financial commitments into tangible actions for the preservation and protection of nature.
Financial Pledge
Gastauer’s vision for financial inclusion is not confined to the boardrooms of Black Banx; it permeates his core values. The Gastauer Foundation serves as a catalyst for change, focusing on education, healthcare, and social welfare. Charitable foundations in these key areas showcase Gastauer’s holistic approach to community development, contributing to the betterment of communities worldwide.
Actively participating as an advisor to FinTech start-ups, Gastauer’s commitment to social responsibility is not just a financial investment but a hands-on approach. His belief in the power of community support is evident in the programs and initiatives he has established, uplifting individuals facing challenges and providing them with deserved opportunities.
Animal Welfare
A distinctive aspect of Gastauer’s philanthropy is his commitment to environmental stewardship. Major investments in green energy projects underscore his passion for protecting the environment. Beyond financial contributions, he actively supports causes aligned with his values.
A devoted animal lover, Gastauer’s affinity for dogs and horses goes beyond admiration. Actively contributing both time and money to causes dear to him, he supports initiatives focused on the welfare of animals.
According to Gastauer, true wealth lies in supporting others in creating and managing their financial well-being. This philosophy underpins his approach, emphasizing that the impact of success is most meaningful when shared to uplift others.
Catalyst for Change
The Gastauer Foundation, an integral part of Michael Gastauer’s philanthropic journey, mirrors his commitment to innovation and financial inclusion. Rooted in key milestones, the foundation’s history intertwines with Gastauer’s entrepreneurial ventures:
- At 24, Gastauer founded his first company, reaching a mid-8-digit valuation and eventually being sold to a Swiss investment firm with over US$1 billion in AUM.
- In the early 2000s, he pioneered an online payment system for global card acceptance and payment processing in eCommerce.
- In 2014, Gastauer founded Black Banx, aiming to unlock a borderless financial system. The same year, the Gastauer Family Office (GFO) emerged, housing a venture capital arm focusing on FinTech investments.
- The Gastauer Foundation, with a mission to address global financial service challenges, leverages innovative FinTech solutions to bridge the gap for the unbanked population, contributing to enhanced global accessibility to financial services.
Competent Leadership
Michael Gastauer leads Black Banx with a visionary approach, emphasizing a vibrant and innovative work environment that fuels the company’s unprecedented success.
A standout initiative showcasing Gastauer’s leadership is the global reduction of office spaces through the “Work from Anywhere” plan. This forward-thinking strategy not only reduces the company’s environmental impact but also aligns with the ambitious goal of achieving zero emissions.
Implemented under this plan, Black Banx empowers its workforce to fulfill their roles from any location worldwide, even in areas without a physical office. This not only widens the talent pool but also encourages applicants from diverse backgrounds, regardless of geographical constraints.
In a commendable effort to promote inclusivity, Black Banx has set ambitious goals for team expansion, targeting 8,000 employees by 2025. Furthermore, the company is dedicated to fostering diversity, aiming for a minimum representation of 40% women in the team and increased women in leadership roles.
Black Banx’s foundational principles prioritize diversity, inclusivity, and equitable treatment for all. These values are not merely words but are ingrained in the company’s rules and policies, demonstrating a steadfast commitment to cultivating a workplace where every individual is treated with fairness and respect.