Net Worth: $2.8 Billion
- Source of Wealth Retail
- Birth Place Germany
- Full Name Michael and Rainer Schmidt-Ruthenbeck
- Nationality Germany
- Date of Birth December 9, 1942, 1941
- Ethnicity German
- Occupation Businessmen
About Michael and Rainer Schmidt-Ruthenbeck
German businessmen Michael and Rainer Schmidt-Ruthenbeck have an estimated net worth of $2.8 billion as of April 2016 according to Forbes. Known to be media shy, the brothers own 16% shares of the retailing company Metro which is based in Germany but operates in Asia, Europe and certain parts of Africa. Compared to last year, Michael and Rainer Schmidt-Ruthenbeck’s wealth declined by $100 million due to Europe’s weakened economy in the last 12 months.
Once considered as the third largest retailing company in the world, Metro was founded in 1964 by the Schmidt-Ruthenbeck family, Otto Beisheim and the Haniel family. In addition to Metro, the brothers are also the owner of Travel Charm, which is a chain of luxury spas and hotels in Austria, Italy and Germany.