Michael Otto
Source of wealth: Retail, real estate
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The scale of their wealth
Health
The price of life
Let's compare Michael Otto's fortune with the healthcare spending of a massive country
Michael Otto could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 3.1 years.
But even if we compare their fortune with that of a rich country
On the other end, Michael Otto could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.4 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Michael Otto could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 2.0 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Michael Otto could pay for it entirely for 2.7 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Michael Otto could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 11.5 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Michael Otto with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.3 years.
Gold
Everyday luxuries
Michael Otto's fortune is equivalent to 47 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Michael Otto could buy 12,473,751 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 2 trucks to transport them. Although Michael Otto will almost certainly have enough money left over to pay for the gas.
Biography
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 stepmother Maren and her children Alexander and 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.
Financial Assets
Financial assets information not available.
Monthly wealth history
Fortune comparison
Historical data not available for comparison