How can I confirm the estimate is for the Tim Hortons RBI executive and not another Axel Schwan?

Use the CIK match, not just the name. For the Tim Hortons executive profile, the SEC insider label shows as “SCHWAN AXEL MR” with CIK 1594977. If a platform does not show that identifier or cannot explain how it mapped the person, you should treat the estimate as unreliable.

Why do insider-based net worth numbers sometimes drop even when share price rises?

Yes, and it typically makes the equity-based “net worth” figure look smaller. When an executive sells shares after vesting, the beneficial share count reported in later filings can drop, so the floor value declines even if compensation and long-term incentive totals remain unchanged.

What are the most common reasons the estimate changes month to month?

The range can shift for two main reasons that are not both “wealth events.” First, RBI’s share price changes between measurement dates. Second, new RSU or PSU vestings, or changes in reported beneficial ownership, can add or remove shares, even without major stock-price moves.

Is the $14 million to $17 million estimate the amount of money he actually has after taxes?

Don’t interpret “floor” as “net after taxes.” These estimates value disclosed holdings at market price and typically ignore taxes paid on vesting or sale, trading gains already realized, and the effect of reinvestment, so they are not a cash-amount measure.

Why might these estimates be lower than the future value of his long-term incentive awards?

Platforms often miss parts of the equity pipeline that haven’t converted into shares yet. Unvested RSUs and PSUs, along with future vesting and any performance hurdles, usually do not show up as current beneficial ownership, so the estimate can be understated relative to “eventual” value.

How do I tell if a website is using the correct share price date for the calculation?

Check whether the platform uses beneficial ownership from the latest Form 4, and whether it uses the closing share price on the same date. A mismatch between the filing date and the share-price date can create noticeable differences, especially during volatile periods.

Do the calculations include his salary, bonuses, or private assets?

Yes, but only to the extent the vesting produced shares or otherwise updated beneficial ownership in SEC reporting. Real estate, private company stakes, and cash-like holdings are generally invisible to insider-share counting, so the equity floor will not capture them.

What is the quickest step-by-step method to update the estimate using primary sources?

If you want the fastest self-verification, start with SEC EDGAR, pull the most recent Form 4 entries for CIK 1594977, then compute beneficial share count times the current or closing RBI share price. Stop there if your goal is a comparable “floor,” because building a true total net worth would require non-public asset and liability data.

What should I watch out for in net worth pages that don’t mention RBI or SEC filings?

Treat repeated “net worth” articles that do not reference RBI, Tim Hortons, QSR, the named executive role, or SEC identifiers as red flags. With common names, the wrong-person match is the biggest failure mode, and the result can be wildly off.

Axel Schwan Net Worth: Sources, Estimates, and How to Verify

Based on publicly disclosed SEC filings and insider-tracking platforms checked as of spring 2026, the most credible estimate for Axel Schwan's net worth sits in the range of roughly $14 million to $17 million. That range comes almost entirely from his disclosed equity holdings in Restaurant Brands International (RBI), the parent company of Tim Hortons, where he serves as President, Tim Hortons Canada and U.S. These are minimum estimates derived from insider share counts, not a full balance-sheet calculation, so the real figure could be higher once you factor in salary, bonuses, private assets, and any holdings not disclosed through SEC mechanisms.

Which Axel Schwan are we talking about?

Anonymous executive in a modern office, looking at a laptop, with soft daylight and a blurred city view.

There are at least two publicly identifiable people named Axel Schwan, and mixing them up is probably the most common mistake in these searches. The one relevant to this wealth profile is the RBI executive: Axel Schwan, President of Tim Hortons Canada and U.S., who is a named executive in RBI's SEC proxy filings (DEF 14A) and whose insider transactions appear on SEC EDGAR under the name "SCHWAN AXEL MR" with CIK identifier 1594977. He has been in senior leadership at Tim Hortons since at least 2019, when Restaurant Business Online reported his appointment as U.S. and Canada president.

The second, unrelated Axel Schwan appears on the Pandora CloudCover "About Us" page, where someone by that name is listed as President of that company. That individual has no documented connection to RBI and should not be included in any net worth calculation for the Tim Hortons executive. If you land on a net worth page and it does not explicitly reference RBI, QSR (RBI's NYSE ticker), or Tim Hortons, treat it with skepticism until you can confirm which person the data actually covers.

What is Axel Schwan's net worth right now?

Three well-known insider-tracking platforms have published estimates in the past several months, and they cluster in a fairly tight range. Here is how they compare:

Source	Estimate	As of Date	Basis
QuiverQuant	At least $17.1 million	March 11, 2026	Disclosed insider share count + latest trades
InsiderTrades.com	At least $14.05 million	February 23, 2026	SEC Form 4 insider profile (RBI/QSR)
GuruFocus	At least $15 million	October 9, 2025	SEC Form 4 shareholdings/transactions

All three platforms use the phrase "at least," which is doing a lot of work here. That qualifier signals these are floor estimates, not comprehensive net worth figures. They capture the value of RBI shares and equity awards Schwan has disclosed through required SEC filings. They do not include his cash compensation, real estate, private investments, retirement accounts, or any other assets that are not subject to SEC insider-reporting rules. The practical takeaway: his disclosed equity alone is worth somewhere between $14 million and $17 million depending on the date and RBI's share price on that day, but his total net worth is almost certainly higher.

Where his wealth actually comes from

Understanding how wealth accumulates for a named executive at a major public company like RBI is useful context for reading these estimates correctly. Schwan's wealth drivers break into three main categories.

Base salary and annual bonuses

Minimal office desk with documents, a phone, a coin stack, and a pen symbolizing compensation components.

RBI's proxy filings (DEF 14A) include a summary compensation table that itemizes base salary, annual incentive payouts, and other compensation for named executives. As a divisional president of a brand generating billions in system sales, Schwan's base salary and annual bonus represent a meaningful income stream, though these cash components do not appear directly in insider-tracking net worth models, which focus on equity.

Equity awards: RSUs and PSUs

The largest driver of the disclosed net worth estimate is equity compensation. According to SEC Form 4 filings and StockTitan's reporting on those filings, Schwan receives restricted stock unit (RSU) and performance stock unit (PSU) awards as part of his long-term incentive compensation. When these vest, they convert to RBI common shares and show up in his beneficial ownership count. The value of those shares at any given moment is what the insider-tracking platforms are calculating. RBI's 2025 proxy also references changes to Schwan's long-term incentive (LTI) targets, which means the equity award pipeline is an ongoing source of wealth accumulation.

Open-market stock activity

TradingView's coverage of RBI insider activity has noted Schwan engaging in stock sales, which reduces his direct share count. When executives sell shares, the remaining ownership count goes down, which can cause insider-based net worth estimates to drop even if RBI's share price has not changed. This is a normal and legal part of executive compensation management, but it explains why estimates from different dates can vary significantly.

How these estimates are calculated (and what they miss)

The methodology behind all three platforms follows essentially the same logic. They pull disclosed share counts from SEC Form 4 filings, multiply by the current or closing share price for RBI (ticker: QSR on the NYSE), and report that product as a minimum net worth. QuiverQuant's page ties its calculation explicitly to insider identifier CIK 1594977, which is the SEC identifier for "SCHWAN AXEL MR" as an RBI insider. This identifier-level precision is actually the most reliable signal that the platform is tracking the right person.

What this method genuinely misses is substantial. It does not account for vested equity that has been sold and converted to cash. It does not include unvested RSU or PSU awards that have been granted but have not yet appeared as shares. It excludes salary and bonus accumulation, real property, private investments, and liabilities. GuruFocus makes this limitation explicit by describing its approach as "holding-based valuation" rather than a full balance-sheet net worth. The number you see is best understood as "the floor value of his disclosed public-company equity," not "total wealth."

How to verify the number yourself

Hands researching an SEC filing on a laptop with blurred browser results in a quiet office desk scene.

If you want to cross-check any of these estimates, you can do it in a few steps using entirely free, public resources.

Go to SEC EDGAR (sec.gov/cgi-bin/browse-edgar) and search for "SCHWAN AXEL" as an insider filer. Look for filings associated with Restaurant Brands International (CIK 1594977 for the insider record). Open the most recent Form 4 documents to see the current disclosed share count and any recent transactions.
Note the number of shares reported as "directly owned" in the latest Form 4. Multiply that figure by RBI's closing share price on the same date. That is your baseline equity value, which should approximately match what QuiverQuant or GuruFocus reports for a similar date.
Pull RBI's most recent DEF 14A proxy from EDGAR. Search for Schwan's name in the Summary Compensation Table to see base salary, non-equity incentive payouts, and stock award values for the most recent reported year. This gives you a sense of annual cash-plus-equity compensation flow beyond the static equity value.
Cross-check share price movement. RBI's QSR share price fluctuates, so a net worth estimate from October 2025 and one from March 2026 can differ by millions even if Schwan's share count did not change at all.
If you find a claim on a third-party site that differs dramatically from the SEC-sourced math, check whether that site identifies the correct company (RBI/QSR) and whether it cites SEC filings or simply aggregates from other secondary sources. Secondary aggregators without an SEC anchor are more likely to be stale or misattributed.

Common mistakes people make in these searches

Beyond the name confusion with the Pandora CloudCover individual already mentioned, there are a few recurring problems worth flagging.

Treating insider-equity estimates as total net worth: The $14 to $17 million range covers disclosed shares only. Repeating those figures as "Axel Schwan's net worth is $17 million" without the "at least" qualifier overstates what the data actually shows.
Using stale figures without checking the date: Net worth estimates for public-company insiders can shift significantly in weeks. A figure from October 2025 is already six months old in spring 2026, and both stock price movement and new Form 4 filings could have changed the calculation meaningfully.
Relying on viral or unlinked claims: Some net worth aggregator sites republish figures from other aggregators without checking the underlying SEC data. If a site does not link to or reference specific Form 4 filings or a named proxy statement, its numbers are harder to trust.
Confusing vested and unvested equity: Unvested RSUs and PSUs appear in proxy compensation tables as future awards but are not yet shares Schwan owns outright. Including those in a net worth estimate would inflate it beyond what insider trading data actually shows.
Assuming the figure is static: Unlike the net worth of a private business owner, whose wealth changes slowly unless there is a major transaction, a public company executive's insider-based estimate can move daily with the stock price.

What has changed recently and where to find updates

The spread between the three platform estimates (roughly $14 million in late February 2026 versus $17.1 million by mid-March 2026) illustrates exactly how quickly these figures move. The most likely explanation is a combination of RBI share price appreciation over that period and any new RSU or PSU vestings that added shares to Schwan's disclosed ownership count. TradingView's reporting on insider stock sales at RBI (which included Schwan) is another signal that his share count and therefore the equity-based estimate has been actively changing.

For the most current figure, QuiverQuant's page tied to insider CIK 1594977 is the most precisely identified source and updates as new Form 4 filings hit EDGAR. GuruFocus updates based on the same filing cadence. Going directly to EDGAR for the raw Form 4 documents gives you the same underlying data without any platform delay. RBI files proxy statements (DEF 14A) annually in the spring, so the 2026 proxy (already filed based on the research data here) is the best single document for understanding full compensation context, not just equity value.

For readers interested in the broader Sch- surname wealth space, comparable executive profiles like Axel Schulz and Axel Schmidt follow similar patterns where public-company filings or sports/business career earnings form the backbone of any credible estimate. For a different person named Axel Schmidt, you can look at the available Terravision-related reporting to assess an estimated net worth figure Axel Schmidt Terravision net worth. If you are specifically looking for Axel Schulz net worth, you will want the same kind of primary-source approach, since name collisions can easily distort secondary estimates. The same methodology applies: start with the primary disclosure document (SEC filing, league contract, or corporate filing), build a floor estimate, and then acknowledge the unknowns clearly rather than guessing at a round total-wealth figure.

The bottom line on Axel Schwan's net worth

The most defensible answer right now is that Axel Schwan, President of Tim Hortons Canada and U.S. at Restaurant Brands International, has a minimum disclosed equity-based net worth of approximately $14 million to $17 million as of early 2026, depending on the date and RBI's share price on that date. This is a floor, not a ceiling. If you are looking specifically for the latest Axel Scheffler net worth figure, focus on updated disclosures and platform calculations around the most recent share-price data. For a more specific breakdown, see the latest discussion of Axel Schmidt net worth and how these estimates are derived from public filings. His total wealth, once you include compensation history, real assets, and any private holdings, is almost certainly higher. If you want to verify or update this figure yourself, the SEC EDGAR Form 4 search is the most direct and reliable path, and it takes about five minutes.