Name
Richard Oetker
Primary Residence
Bielefeld, Germany
Citizenship
Germany
Source Of Wealth
consumer goods
Net Worth
$2,000,000,000
Forbes Profile
Forbes 2019 Billionaires List Rank:
1168
Forbes List Rank One: Title
#1168 Billionaires 2019
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Summary
Richard Oetker owns 12.5% of Dr. August Oetker, a $13 billion (sales) conglomerate with interests in food, beverages, financial services and hotelsThe business began in 1891 when his great-grandfather, pharmacist August Oetker, started selling non-perishable baking powder.After World War II, Richard's father, former Nazi SS officer Rudolf August Oetker, developed additional food products and successfully diversified.Brother Alfred was expected to take over as general partner in 2010, but he was blocked by older siblings, who instead crowned Richard.In 2015, with a proxy fight pending before arbitrators, the groups agreed to recruit an outside CEO when Richard retired, which he did in 2017.
Did you know?
When Rudolf August passed away in 2007, at age 90, the company's ownership was divided between his eight children from three marriages.Like his father and his brother August, Richard loves classic cars -- "Oldtimers," as they're known in Germany.
Age
68
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