Bertelsmann AG

Bertelsmann AG

Bertelsmann AG was founded in 1835 by Carl Bertelsmann as a publishing house in Gütersloh, Germany, and remains majority-owned by the Mohn family through the Bertelsmann Verwaltungsgesellschaft mbH (BVG). CEO Thomas Rabe has overseen a strategic shift from a traditional media conglomerate into a diversified global investment and operating group, with the Mohn family retaining control via non-voting shares held by the Bertelsmann Foundation. Bertelsmann's deployment spans three main pillars: its core media and publishing businesses under divisions like Penguin Random House, BMG (music rights), and RTL Group (broadcasting); its education services unit Bertelsmann Education Group; and its venture arm Bertelsmann Investments, which manages $2B+ in direct investments and fund commitments across digital health, enterprise software, and climate tech — with portfolio companies including Udemy and the climate analytics firm Plan A. The group operates across North America, Europe, Asia, and Latin America, with its venture unit maintaining offices in Berlin, Beijing, and São Paulo. The conglomerate employs roughly 140,000 people in over 50 countries, per Bertelsmann's annual reporting. In September 2023, Bertelsmann announced a €500M increase in its venture investment capacity, bringing its total venture budget to over €2B (per the firm, 2023). The Mohn family's wealth is held through BVG, a separate holding company, while the Bertelsmann Foundation owns the majority of voting shares and directs philanthropic activity in education and social policy. A structural differentiator: Bertelsmann is both a global media operating company and a de facto family office for the Mohn family — with the family's control exercised entirely through non-voting shares, while the Foundation holds voting power. This dual governance setup allows long-term capital allocation across operating and investment assets without public market pressure.