Michael Otto
$7.96B
as of 07/05/24
About Michael Otto
Michael Otto inherited shares in the retail empire his late father, Werner Otto, founded as a mail-order business in Hamburg in 1949.
As chief executive, he ran his family's Otto Group for 26 years until 2007. He is now chairman of its supervisory board.
With revenues exceeding $15 billion, Otto Group has more than 40 companies in retail (including Crate and Barrel), real estate and financial services.
Michael's brother Alexander, stepmother Maren and her daughter Katharina -- all billionaires -- also own stakes in Otto Group.
Separate from Michael, they own ECE Group, a real estate company focused on shopping centers, and a stake in office property firm Paramount Group.
Personal stats
Citizenship
GermanySource of wealth
Retail, real estateResidence
Hamburg, GermanyMarital status
MarriedBirth date
04/12/43 (age 81)Number of children
2Education
Doctorate, University of Hamburg; Doctorate, University of MunichSelf-made
inherited and growingMichael Otto’s fortune is worth
133K
troy ounces of gold
123K
median U.S. household
80K
median U.S. income
0.159%
U.S. credit card volume
0.032%
GDP of the United States
0.023%
United States debt
Net worth history
Annual ranking
Related people
Did you know?
Michael's son, Benjamin, announced he wouldn't be following his dad's footsteps and become chief executive. He is managing partner instead.
Net worth over time
Real-time ranking
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