Wizards Of The Coast Stores

It is an alarming figure that the South African consulting firm New World Wealth has determined: According to the company, around 4,000 millionaires turned their backs on Germany last year. According to New World Wealth, the number of particularly wealthy people leaving Germany has risen sharply within a short period of time: In 2015, about 1,000 millionaires emigrated from Germany, whereas in previous years the number was in the low three-digit range at most, the company reports. The figures are part of a study by New World Wealth on the migration movements of people worldwide who have assets of more than one million dollars each (currently about 950,000 euros). According to the company, several hundred rich and super-rich people worldwide were interviewed for the analysis. In addition, there were interviews with migration experts, wealth advisors and real estate agents, as well as evaluations of visa statistics, real estate registers, media reports and the like, the company said. Overall result: in 2016, a total of 82,000 dollar millionaires worldwide changed the country in which they live. In 2015, the number had been just 64,000. The most popular destination for rich emigrants is Australia, followed by the USA, Canada, the United Arab Emirates and New Zealand. Also from Germany it drew most emigrating millionaires in the past year to Australia and Canada, as New World Wealth communicates. Monaco is also popular, it says. No country leaves as many millionaires as France According to the study authors, the exodus of particularly wealthy people from a country is an alarming sign, because this clientele is often the first to leave in major migration movements due to their high personal flexibility. Moreover, wealthy people in a country not only support consumption and the state coffers through their tax payments. Rather, they often create and offer numerous jobs through their own companies. According to analysts at New World Wealth, the sharp rise in emigration of wealthy people from Germany is linked to increasing tensions in society, as can also be observed in other European countries. Namely in Great Britain, the Netherlands, Austria, Sweden and Belgium, the experts therefore expect a similar development in the future. When asked about the reasons for the strong migration, the authors of the study also point to “religious tensions” in the case of France, which are particularly pronounced in that country. Whether this monocausal explanation is valid in every case, however, remains to be seen. A few years ago, the case of the French actor Gérard Depardieu was followed closely by the public. The actor left his homeland for Russia. However, Depardieu did not cite religious tensions in the country as the reason, but rather the high tax burden.

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10th place: Würth family (Reinhold Würth in the picture), Würth Group, Künzelsau, fastening technology, tool trade, EUR 9.2 billion (+ 0.2 billion) Photo: Matthias Balk/ picture alliance / dpa Reinhold Würth does not like the term “screw king”, no matter how accurate it may be. In the course of five decades, he has riveted together a trading empire around small (and of course large) fasteners from the tranquil town of Künzelsau that is second to none. At last count, sales of around 12 billion euros were registered. Well then, let’s proclaim the 82-year-old the Screw Emperor. At such an advanced age, the horizon widens, of course, and the business is still running excellently (although Würth always sees things differently, of course, and makes this clear to its more than 71,000 employees). So, like a real monarch, you can take care of the finer things in life. He has bought several airplanes. Done. Then Würth collected art – more than 17000 works are said to be there. Done. When his cellar was overflowing, he built a museum for it. Also finished. In any case, Würth has a permanent place in manager magazin’s special issue “The 1001 Richest Germans”. Photo: Matthias Balk/ picture alliance / dpa And then? Let’s think about it: Music is also very, very beautiful. So he built a concert hall for his wife Carmen (right next to the company, of course) and presented it on her 80th birthday a few months ago. It was built by star architect David Chipperfield. The opening concert of his Philharmonic Orchestra was conducted by star conductor Kent Nagano. And to make sure that the masses got their money’s worth, superstar Sting also performed. So the emperor can still really rock: A-one, a-two…

Heinz Hermann Thiele: Looking ahead and full throttle

9th place: Heinz Hermann Thiele (photo) , Knorr-Bremse, Munich; Vossloh, Werdohl, automotive supplier, rail technology; 9.6 billion euros (+0.1 billion) Photo: Knorr-Bremse Undeterred, Heinz Hermann Thiele (76) continues to do what he has always done: Look ahead and full throttle. Over obstacles that might have made less robust spirits despondent, he roars ahead without braking. That’s how you get to your goal faster, at least if you don’t care about collateral damage. But in the end, Thiele did not always succeed with his method. First, he fought a fierce bidding war with automotive supplier ZF Friedrichshafen for Swedish competitor Haldex – and in the end came away empty-handed. The restructuring of the rail technology group Vossloh, in which Thiele has taken a stake, is also proving to be laborious. With his method, it must be admitted, Thiele has achieved great things. Since he took over the ailing brake company Knorr in 1985 (almost entirely on credit, by the way), he has driven sales from 254 million euros to 5.5 billion euros. His technology reliably stops huge masses such as trucks and trains. However, Thiele had to put a stop to his plan to place his life’s work in the hands of his son Henrik (49). First the crown prince left the Knorr Group in the summer of 2015 because he had fallen out with his father, who is now pro forma only an honorary member of the Supervisory Board. Now the divorce followed: The offspring returned his 36.6 percent stake in Knorr-Bremse to his father. To fill the coffers and keep the company in the fast lane in the future, Thiele now wants to float parts of his company on the stock market. As is always the case with Thiele, this should also be exciting.

Klaus-Michael Kühne: Investments also in irrational sectors

Rank 8: Klaus-Michael Kühne; Kühne + Nagel, Switzerland; Hapag-Lloyd, Hamburg; logistics, shipping; 11 billion euros (+ 1.6 billion) Photo: DPA A recent leak must have really annoyed Klaus-Michael Kühne (80). Because water somehow leaked somewhere in his brand-new luxury hotel “The Fontenay” on the banks of the Alster in Hamburg and ruined around 1,000 square meters of tiles and screed, Kühne had to postpone the opening of his dream once again: In mid-December, it should finally be ready. Future guests of the noble glass hostel can be sure of the personal attention of the builder at every turn. The billionaire himself has admitted that he has made his opinion clear on even the smallest details – keyword: tableware – which undoubtedly did not always please his employees. But who pays for all this? Exactly. Otherwise, logistics expert Kühne is one of the few billionaires who also invest in irrational industries – there’s no other way to explain his involvement with the ailing soccer club Hamburger SV. He has been pumping millions into the club for years. But apart from three narrowly avoided relegations, little has come of it. When he recently said that it was over, the HSV management broke out in a cold sweat. Did he mean what he said? We’ll see. Because in the soccer business, emotional returns also count, and they can look very different after a single victory. Kühne can certainly afford his hobbies. His company, Kühne + Nagel, is doing so well that the gnarled patriarch can devote himself to various other ventures without worrying. The market value has climbed to 19 billion euros, a good 20 percent more than a year ago. Kühne owns slightly more than half of the shares.

Otto family: Will it be enough to survive?

7th place: Otto family (Michael Otto in the picture); Otto Versand, ECE, Hamburg; Paramount, USA; Park Property, Canada; mail order, logistics, real estate; 13 billion (+ 1 billion) Photo: Otto The mood at Otto in Hamburg has probably brightened recently – for two reasons. After two horror years with heavy losses, the company is finally back in the black. Small ones, to be sure, but better than losses in the triple-digit millions. And, reason number two, the key people seem to have found their new roles after some back-and-forth. As is well known, the plan of family head Michael Otto (74) to install his son Benjamin (42) as his successor did not work out. The junior announced that he did not want to take over the head job of the Otto Group. So there was a more or less hectic rethink, which resulted in a new family set-up: Michael contributed his majority stake in the Otto Group to a foundation. This curbs family squabbles that could paralyze the store. Son Benjamin, on the other hand, wants to continue to develop the family legacy as a formative shareholder from the supervisory board. This consists of more than 120 companies, including the traditional mail order business, the parcel service Hermes, the chain stores SportScheck, MyToys and Crate & Barrel in the USA, and the shopping center operator ECE. And further development is necessary in view of the power of the online retailer Amazon, which is sweeping away everything that stands in its way. But Hamburg believes it is on the right track: More than half of its sales of 12.5 billion euros already come in online, and it continues to grow strongly there. Will it be enough to survive in the end? We’ll see.

Theo Albrecht Jr. and Babette Albrecht families: Old order dissolved

6th place: Theo Albrecht Jr. and Babette Albrecht (photo); Aldi Nord, Essen; retail, real estate; 18 billion euros (+ 0.8 billion) Photo: Rolf Vennenbernd/ picture alliance / dpa For decades, the Albrecht discount empire was as isolated as North Korea. It was easy to speculate about the owners, sales and profits, because nothing was known for sure. The only thing that was reasonably clear was that the brothers Theo and Karl Albrecht were the founders of Aldi and that they must be very, very wealthy. But what, for example, did the gentlemen look like? No one knew. The trade lords, who had divided their empire into Aldi North and Aldi South early on, preferred to remain phantoms. They and their families succeeded admirably until the end of their lives: Theo passed away in 2010, Karl in 2014. The North Side, Theo’s life’s work, therefore actually had plenty of time so far to reorganize its affairs. For a while, everything stayed the same. In 2012, when Theo’s son Berthold died, there was no stopping them. As is often the case with heirs, no sooner is the old man dead than the old order dissolves. Now the indiscretions from the North Reich are popping out like popcorn from a hot pan. As the one who lifted the lid, those Albrechts who would have preferred to keep everything as quiet as ever suspect Babette Albrecht (57), Berthold’s widow. The married-in woman is fighting on behalf of her five children for influence in the foundations that hold the real power at Aldi. To defend himself against the rambunctious widow, Theo Albrecht Jr. even broke a taboo and actually gave an interview – to insult his sister-in-law. All of this distracts from the fact that Aldi Nord has fallen further and further behind the competition from Lidl in recent years and urgently needs to catch up if it does not want to be pushed even further down the rich list. At least the northern clan recently got its act together: So that the gap to Süd-Stamm and its major competitor Lidl doesn’t get any bigger, 5.2 billion euros are now being invested in modernizing the stores. Now that’s something to talk about.

Albrecht and Heister families: A relaxed view of the Nord family

Rank 5: Albrecht and Heister families; Aldi Süd, Mülheim/Ruhr; retail, real estate; 21.5 billion euros (+ 1.5 billion) Photo: Christopher Furlong/ Getty Images The Aldi tribe, which is based in Mülheim an der Ruhr and runs the southern part of the retail empire, can take a relaxed view of the wild goings-on of the Nord family. They’ve always been a bit more fixed and modern than the Nord family, and that hasn’t changed since the death of patriarch Karl Albrecht in 2014. Under the leadership of Karl Albrecht’s son-in-law Peter Heister (70), the clan started doing its strategic homework early on – often in response to the extremely resourceful competitor Lidl, but usually in no time at all. Brand-name products on the shelves, out with the cheap-shop image and pallet charm, and thanks to the baking stations, it smells (almost) as delicious in many stores as in a bakery. The latter did lead to a years-long battle with the proud bakery trade. But in the meantime, the bread browning boxes continued to run hot, attracting customers and bringing in sales. And if foreign business in the U.S. (where Lidl has just launched), Great Britain or Australia is going like hot cakes, the Albrechts and Heisters can sit back and relax for the time being. Their place among Germany’s five richest families is assured for years to come.

Georg and Maria-Elisabeth Schaeffler: No convincing answers yet

3rd place: Georg and Maria-Elisabeth Schaeffler; INA-Holding Schaeffler, Herzogenaurach; Continental, Hanover; mechanical engineering, automotive supplier; 22 billion euros (+ 0.5 billion) Photo: picture alliance / Sven Simon A dark storm cloud has been hanging over the Schaefflers from Herzogenaurach ever since the whole car world started talking about the end of the combustion engine. After all, half of their family company’s sales depend on the humming and roaring fire engines that rattle through the world on four or more wheels, but unfortunately blow out rather unpleasant exhaust fumes in the process. In Franconia, they are now pondering how to be at the forefront of electrification business – without, however, having found any convincing answers so far. The fact that Georg (52) and Maria-Elisabeth Schaeffler (76) can nevertheless look forward to an increase in assets on paper this year is due to Continental, of all things. The attempted takeover of the tire and automotive parts company immediately before the financial crisis in 2008 almost ruined mother and son until the end of their lives. But now the worst is over and the debts have been reduced to a tolerable level (thanks in part to a partial IPO of their Schaeffler AG). And when the Conti share also rises as nicely as it has recently (+17 percent year-on-year), it’s a real joy to own 46 percent of such a group. After all, tires are needed for all the electric cars that, according to the visionaries, will soon replace combustion engines. This is especially nice for the Filius. The lawyer, who hid in Texas for years before his mother ordered him home to Herzogenaurach, holds 80 percent of the joint holding company, with Maria-Elisabeth holding the rest. Incidentally, Georg’s correct name is Georg Friedrich Wilhelm Schaeffler, so he always carries the names of several German emperors with him. Some of these rulers were quite glorious, some less so, as is well known.

Dieter Schwarz: Not so easily scared off

3rd place: Dieter Schwarz: Lidl, Kaufland, Neckarsulm; retail, real estate; 22 billion euros (+ 3 billion) Photo: Jeff J Mitchell/ Getty Images 100,000,000,000 euros: This is the peak to which the turnover of the discount empire Lidl/Kaufland is expected to rise next year at the latest. 100 billion! Pretty breathtaking for a venture that Dieter Schwarz (78) started in 1973 with a single store in tranquil Ludwigshafen. As is well known, others had the same idea of letting customers gather their own goods in sparse stores equipped with pallets instead of shelves, and in return turning a blind eye and a half to the price. At some point, Schwarz could only really compete with the Aldi-Albrechts. To keep the peace within the family, they split into two empires, which is certainly one of the reasons why Schwarz, the dynamist, has been able to outpace his colleagues from the Ruhr region more and more. By the way, the 100 billion in sales is only one stage of the process. A few months ago, Lidl began to expand into the U.S., the largest but also most competitive market for retailers. Schwarz and his deputy Klaus Gehrig (69) can fight, they are not easily scared off and have happily opened the first ten Lidl stores in Virginia, North Carolin and South Carolina. Within a year, there will be 100 along the East Coast. Aldi Süd has been in the U.S. since 1976, but despite more than 1,500 stores, it will have to dress warmly, as will local giants Walmart and Kroger. Meanwhile, at home in Heilbronn, Schwarz, who is extremely shy of publicity, is making sure that his hometown finally becomes a university town. This is not only laudable, because there is nothing more important than education, education, education. It also nurtures the hope that he will perhaps allow himself to be photographed at the opening, so that the public finally gets a picture of the man who can be considered one of the greatest German entrepreneurs of the post-war period.

Stefan Quandt and Susanne Klatten: Extremely diversely positioned

2nd place : Stefan Quandt and Susanne Klatten (picture); BMW, Munich; Altana, Wesel; Delton, Bad Homburg; SGL Carbon, Wiesbaden; Auto, shareholdings; 31.5 billion euros (+ 1.5 billion) Photo: Kay Nietfeld/ picture alliance / dpa Carbon, chips, chemicals, logistics, wind power and many other things: The industries in which the siblings Stefan Quandt (51) and Susanne Klatten (55) let and let work their fortune is as diverse as with hardly any other billionaire family in this country. Of course, this generates not only profits, but also occasional worries. In Susanne Klatten’s case, these have recently been particularly great at SGL Carbon. But people also part company when it seems hopeless or when they get a good price, as Klatten did with wind turbine manufacturer Nordex or Quandt did with private bank BHF. In any case, the 47% stake in BMW outshines everything else in the siblings’ portfolio. This is also primarily responsible for the asset growth of 1.5 billion euros over the past twelve months. Despite the diesel crisis, suspected cartels and the threat posed by electromobility, BMW shares are up almost 17% year-on-year. And there is, after all, a dividend for loyal shareholders: to its siblings, the Bavarian carmaker paid out a whopping 1,076,000,000 euros for 2016. Gross, of course. Nevertheless, it’s certainly something to be done with it. The foundation of Quandt’s billion-dollar fortune was laid by her ancestors, who once immigrated to Brandenburg from the Netherlands as cloth weavers. After episodes of unsavory pacting with the National Socialists, the brothers Herbert (1910 to 1982) and Harald (1921 to 1967) increased the family fortune to dizzying heights in the emerging Federal Republic. Perhaps Herbert Quandt’s riskiest investment was his entry into the then moribund automaker BMW in 1960. It truly paid off for his descendants.

Reimann family: a deal flow like a torrent

First place: The Reimann family; JAB Holding (pictured holding company CEO Peter Harf), Luxembourg; Coty, USA; Reckitt Benckiser, UK; Jacobs Douwe Egberts, Netherlands; cleaning products, cosmetics, coffee; 33 billion euros (+ 4 billion) Photo: © Thierry Roge / Reuters/ REUTERS The Reimanns, the new front-runners among the richest Germans, regularly deliver figures that make even ordinary billionaires gasp. The biggest first: their family holding company now manages more than 70 billion euros. Not all of it belongs to the Reimanns, and some of the deals in their aggressive expansion are financed on credit. But banks and other lenders are happy to lend if creditworthiness and track record are right. Both are definitely the case with the Reimanns. Photo: Matthias Balk/ picture alliance / dpa A few more figures to prove the point: In 2013, the Reimanns raised 7.5 billion euros for the Dutch coffee group D.E. Master Blenders. 11.1 billion euros were due in 2015 for a product bundle called Wella, which the consumer goods group Procter & Gamble got rid of. 12.8 billion euros they laid down in 2016 for the U.S. coffee company Keurig Green Mountain. The US bakery chain Panera cost $7.5 billion. A takeover like that of the Balzac Coffee Company in Hamburg for a few million, as this summer, is of little consequence. The Reimanns’ goals are global and sharply defined The Reimanns’ deal flow is like a torrent. But their goals are global and sharply defined: For example, the family only entered the coffee business in 2012; five years later, it commands about 20 percent of global coffee sales, whether in powder or bean form, in aluminum capsules or in the ceramic cups of various coffee chains. The immensely successful course under holding company boss Peter Harf (71) has caused the family’s fortune to soar so rapidly in recent years that one has to rub one’s eyes in disbelief. But that doesn’t help: It really is true. Incidentally, the forefathers of the small clan are Karl Ludwig Reimann and Johann Adam Benckiser. They founded a chemical factory in Ludwigshafen in the mid-19th century. At some point, it was absorbed into the consumer goods giant Reckitt Benckiser (Calgon, Kukident, Clearasil). The dividends on those eight percent – current value: 7.4 billion euros – that the Reimanns kept formed the basis for their unprecedented growth in wealth. Read also: Number of billionaires in Germany rises sharply And who are these Reimanns, anyway? They are the siblings Wolfgang Reimann (65), Renate Reimann-Haas (65), their half-brothers Stefan (54) and Matthias (52) Reimann-Andersen and their ten offspring in total. Parts of the family were paid off years ago, so the number of contributors remained manageable. However, some of them have since reinvested – after all, the relatives are doing very well. A strict code of conduct prohibits interference in operations. And the Reimanns have imposed extreme restraint on themselves when it comes to dealing with the public. In short, the richest Germans would prefer to simply forget about it. Wizards Of The Coast Stores.


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