Michael & Reiner Schmidt-Ruthenbeck
$1.8B
as of 03/10/20
About Michael & Reiner Schmidt-Ruthenbeck
Secretive brothers Michael Schmidt-Ruthenbeck and Reiner Schmidt are heirs to a piece of the Metro retail fortune.
Their grandfather Karl Schmidt expanded into the wholesale trade in the 1920s, supplying food retailers around Duisburg, Germany.
Karl Schmidt's sons Ernst and Wilhelm (father of Michael and Reiner) opened the first Metro hypermarket in Essen in 1963.
The following year, they formed a partnership with the Haniel family and the late billionaire Otto Beisheim to propagate Metro Cash & Carry.
Metro went public in 1996. In 2017, it split into Metro AG and Ceconomy AG (former consumer electronics business of Metro).
Personal stats
Citizenship
GermanySource of wealth
retailResidence
Duisburg, GermanyBirth date
12/09/42 (age 81)Self-made
inheritedMichael & Reiner Schmidt-Ruthenbeck’s fortune is worth
30K
troy ounces of gold
28K
median U.S. household
18K
median U.S. income
0.036%
U.S. credit card volume
0.007%
GDP of the United States
0.005%
United States debt
Net worth history
Annual ranking
Did you know?
Germany's Mercator foundation is attributed to Michael. It has spent over $650 million on projects including climate change mitigation and cultural education.
Net worth over time
Real-time ranking
Financial assets
XETRA | CEC-DE
Ceconomy AGXETRA | B4B-DE
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