[1] He was born in the family of Georg Stumpf senior (1920-2004), a wealthy entrepreneur and friend of the former Federal Chancellor Franz Vranitzky.
With the support of the banking consortium consisting of Creditanstalt and a Commerzbank subsidiary, Stumpf invested in building the Millennium Tower in Vienna.
[7] Together with two other Austrian entrepreneurs, Mirko Kovats and Ronny Pecik [de], in 2005, they purchased the majority of the OC Oerlikon industrial group in Switzerland.
Later they also joined forces with the Russian oligarch Viktor Vekselberg to buy other companies and reorganize the industrial group in Switzerland.
[11] In the case of the Sulzer AG acquisition by Stumpf and Pecik, it later emerged that the transaction had been carried out in violation of the Swiss Stock Exchange Act.
[12] In 2009, the FINMA filed a criminal complaint with the Swiss Federal Department of Finance against Stumpf, Pecik, and Vekselberg alleging that they had failed to comply with reporting requirements when acquiring shares in the engineering company Sulzer.
[19] In 2007, he and Schalko built a luxury villa in the style of an Italian palazzo in the upmarket Viennese district of Döbling for around EUR 15 million.