Otto Beisheim

$3.30 B

Ranked #344 in World

About Otto Beisheim

German business magnate Otto Beisheim, born on January 3, 1924, near Essen, Germany, rose from humble beginnings to establish Metro, the nation's pioneering cash-and-carry retailer, in 1964. Despite a challenging early life and service in the Waffen-SS during World War II, Beisheim's post-war career flourished, leading to significant contributions in the retail and real estate sectors, notably with the opening of the Beisheim Center in Berlin in 2004. His legacy includes numerous awards such as the Grand Federal Cross of Merit and the Bavarian Order of Merit. Beisheim's life came to a poignant end on February 18, 2013, when he took his own life following a terminal illness diagnosis. His impact on German retail continues through the Beisheim Group, safeguarding his contributions to the industry.

Born

January 03, 1924 in Germany

Died

February 18, 2013 (aged 89)

Source Of Wealth

Retail

Industries

Fashion And Retail

Citizenship

Germany

Otto Beisheim was born on January 3, 1924, near Essen, Germany. His father was a caretaker, and the family was too poor to afford sending him to high school. Instead, Beisheim became a leather tradesman.

In October 1942, Beisheim voluntarily joined the Waffen-SS and served as a Private in the SS Division Leibstandarte on the Eastern Front. He incurred injuries in battles and was taken as a British prisoner of war in May 1945. He was released in March 1946.

Otto Beisheim: Career Highlights

After the war, Beisheim started his commercial career at the Wilhelm Nebel leather factory. He then worked in the iron and steel industry before joining the electrical trading company Stöcker & Reinshagen in 1959, where he became an authorized officer.

In 1964, Beisheim founded Metro, Germany's first cash-and-carry retailer, in Mülheim an der Ruhr. The Beisheim Center, named after him, opened in Berlin in 2004. Beisheim sold his shares of Metro AG in 2009.

Otto Beisheim: Companies

Beisheim founded Metro AG, Germany's first cash-and-carry retailer. He also had interests in other companies, including the Beisheim Group, a family holding company for his interests in Metro AG.

Otto Beisheim: Major Achievements

Beisheim is credited with revolutionizing the retail industry in Germany with the introduction of the cash-and-carry concept. He also played a significant role in the development of the Beisheim Group, which has become a major player in the retail industry.

Otto Beisheim: Awards & Achievements

Beisheim received numerous awards and honors throughout his career, including the Iron Cross II Class, the Honorary Doctor of Economics from the Technical University of Dresden (1993), the Grand Federal Cross of Merit (1994), the Bavarian Order of Merit (2000), the Order of Merit of the State of Berlin (2003), the Honorary Senator of WHU (2003), the WHU ring of honor (2005), the honorary citizenship of all five valley communities in the Tegernsee valley (2005), and the Honorary Doctorate from WHU (2008).

Otto Beisheim: Personal Life & Legacy

Beisheim was intensely private and rarely in the public eye.

He committed suicide on February 18, 2013, in Rottach-Egern, Germany, after being diagnosed with a terminal illness.

Beisheim's legacy includes the Beisheim Group, a family holding company for his interests in Metro AG, which continues to play a significant role in the retail industry.

Otto Beisheim: Trivia

Beisheim was a passionate art collector and owned a significant collection of modern art.

Wealth History

Timeline

January 3, 1924

Otto Beisheim is born near Essen, Germany.

October 1942

Voluntarily joins the Waffen-SS and serves as a Private in the SS Division Leibstandarte on the Eastern Front.

May 1945

Incurred injuries in battles and taken as a British prisoner of war.

March 1946

Released from British captivity.

1959

Joins electrical trading company Stöcker & Reinshagen and becomes an authorized officer.

1964

Founds Metro, Germany's first cash-and-carry retailer, in Mülheim an der Ruhr.

2004

Beisheim Center opens in Berlin, named after him.

2009

Sells shares of Metro AG.

February 18, 2013

Commits suicide in Rottach-Egern, Germany, after being diagnosed with a terminal illness.

Otto Beisheim : FAQs

What is Otto Beisheim's net worth?

As of 2012, Otto Beisheim's net worth was $3.30 billion.

What are Otto Beisheim's main sources of wealth?

Otto Beisheim's main source of income comes from Retail.

In which industry does Otto Beisheim primarily operate?

Otto Beisheim is primarily involved in the Fashion And Retail industry.

Is Otto Beisheim dead?

Yes, Otto Beisheim died on February 18, 2013 (aged 89).

Who was Otto Beisheim and what is he known for?

Otto Beisheim was a German businessman, best known for founding Metro, Germany's first cash-and-carry retailer, in 1964. He was also recognized for his philanthropic efforts and contributions to the business world through the Beisheim Group.

What were the early life challenges faced by Otto Beisheim?

Born into poverty near Essen, Germany, Otto Beisheim was the son of a caretaker and could not afford high school, leading him to become a leather tradesman. He voluntarily joined the Waffen-SS during World War II, was injured in battles, and became a British prisoner of war before being released in 1946.

How did Otto Beisheim start his career and eventually found Metro?

After World War II, Otto Beisheim started his commercial career at Wilhelm Nebel leather factory, worked in the iron and steel industry, and then at Stöcker & Reinshagen, an electrical trading company. In 1964, he founded Metro, introducing the cash-and-carry concept to Germany.

What awards and honors did Otto Beisheim receive throughout his life?

Otto Beisheim received numerous awards including the Iron Cross II Class, Honorary Doctor of Economics from Technical University of Dresden, Grand Federal Cross of Merit, Bavarian Order of Merit, Order of Merit of the State of Berlin, and several honors from WHU including honorary senatorship and honorary doctorate.

What led to Otto Beisheim's death and how is his legacy preserved?

Otto Beisheim committed suicide in 2013 after being diagnosed with a terminal illness. His legacy lives on through the Beisheim Group, a family holding company for his interests in Metro AG, and various philanthropic endeavors that bear his name.