Reinhold Schmieding
Source of wealth: Medical devices
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The scale of their wealth
Health
The price of life
Let's compare Reinhold Schmieding's fortune with the healthcare spending of a massive country
Reinhold Schmieding could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 2.2 years.
But even if we compare their fortune with that of a rich country
On the other end, Reinhold Schmieding could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.0 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Reinhold Schmieding could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 1.5 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 Reinhold Schmieding could pay for it entirely for 2.0 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Reinhold Schmieding could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 8.3 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Reinhold Schmieding 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 0.2 years.
Gold
Everyday luxuries
Reinhold Schmieding's fortune is equivalent to 34 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.
Reinhold Schmieding could buy 9,067,574 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 Reinhold Schmieding will almost certainly have enough money left over to pay for the gas.
Biography
Michigan native Reinhold Schmieding started Arthrex, an orthopedic surgical tools company, in 1981 in Munich, Germany.
Arthrex is now headquartered in Naples, Florida and has developed over 13,000 products used in shoulder, hip and other orthopedic surgeries.
Privately-held Arthrex has estimated revenues of $3.2 billion; Schmieding owns an estimated 95% of the company.
Schmieding is the son of German immigrants who moved to the U.S. just before he was born. His father, a dentist, wanted him to be a doctor.
The notoriously press-shy founder has kept his $50 drafting table where he designed his first operating instruments.
Financial Assets
Financial assets information not available.
Monthly wealth history
Fortune comparison
Historical data not available for comparison