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germany's super rich no other european country has as many billionaires and while their fortunes are growing more and more germans are living under the poverty line set by the organization for economic cooperation and development the o.e.c.d. . the press frequently reports on the country's high income inequality and low social mobility but little is known about the super rich the truth sure money attracts success and success attracts money this i do believe that and i've experienced myself how you can suddenly connect with people previously out of reach for a kind of shows how to. germany's super wealthy how do they live and how do they see the country they live in. the way wealthy people in germany are talked about bothers me because it sensationalizes sycophantic and and in no way reflects what wealthy people have done and can. i knew to do for this country for

this long closed heart but the only creates this impression of rich people being like scrooge mcduck that they have these money bins in which they wallow in their coins you know the rudiments and i have a better look and scrooge mcduck wants more more more and that's not my world mind if. i walk around in my house but not swimming and we thought. we wanted to get closer to the discreet world of germany's ultra rich of company owners and as with millions we wanted to find out what makes those on top of the world tick. every year an exclusive event takes place in the schlosser take on balcony a friend of hers to which the public is not invited. it's the annual hall of fame

evening for the business monthly manager magazine party any other occasion in germany jaws as many wealthy business owners. they're going adds a lot of steam to presenters did jury members still ladies and gentlemen welcome to manager magazine's hole of fact. when we 1st founded the hall of fame in 1902 we wanted to take a stand for excellence and unconditional entrepreneurship and against faint hearted ness and averageness. we begin our nominations today with of dhamma more than on his company united internet is valued at around 11000000000 and on our list of germany's richest people the ranks 25th with a personal wealth of 4500000000 euros for months once they hit feel like maybe. electively the guests at this elegant evening are worth billions of euros.

this is the face of wealth in germany main email and although we're close to the super rich here there will remain somehow also for each. hamburg home to manage a magazine's parent company the speaker group hardly any publication keeps closer tabs on germany's ultra rich every year the magazine steen gathers information on wealthy germans and using the forbes model makes a special edition with a list of germany's 1001 richest people. it's painstaking work. is about how many billionaires are video of the $481.00 the 198 last year was $136.00 right no verster it was around $17170.00 ok on that is someone who wants to get on our list of 1001 richest

germans needs to have around 100000000 with their cash often quite doesn't have to be money in the bank most people have it is assets or is property but that's the ballpark we're looking for to be on our list of the richest germans the 1000 bison . continent to devise an d'argent. editing chief stephan close one has been around germany's ultra wealthy for years. what does it take to get on the list. as. the top i'd say that the top 150 spots on our list will always go to company owners and asses even if you're a chief physician you'll need to see a whole lot of patients to become a billionaire many managers also have a hard time getting that high up here in germany there's a debate about whether the head surtax companies too much of an index but if you compare it to what people in similar posts in the u.s. the u.k. or china it's peanuts for the law and also tanya and heena so that alone can't ever

make you one of the truly ultra rich i don't it's a problem doesn't it. creating a list of the wealthiest people is especially difficult in germany they're not because there aren't enough of them. that's what you can charge you somehow managed to amass this huge empire a fortune in just a few years it's of his wealth is estimated to be around $4000000000.00 he's the least known super rich germans in the home wouldn't let his interview him at home. they prefer to fly under the radar to avoid envy by any means the super rich don't like to help themselves so to speak in the midst of this thought you know these are home stories here you can normally only get interviews inside the homes with the 2nd tier one there you always get guys who get a kick out of publicity. like mr marsh my. getting

a good shot of mr marsh meyer is never a problem. but the real money keeps itself hidden guilty as this has to hurt. the super rich will try. and to go unnoticed sometimes i even try to hide there are no photos of several people on our list and you won't find a single picture if you go online and google them and see if there hasn't been a photo of her hymen sites germany's richest family for decades and for so many stay hidden because they want to live normal lives and think that they won't be able to do so if they're known to be multi-billionaires. and live in can for months oh interview requests were rejected agreed film sheets were cancelled last minute none of the rich wanted to talk to us about money. finally we got lucky and the financial had frank face here in a prime location tucked behind the bank teller as sits the asset management company

full come full can manage his german business families fortunes. its chairman christan fanbase the time provided some insight as to why rich germans also shine. detroit you know many wealthy germans are reluctant about stepping out into the public eye because they're afraid they could be seen negatively. they ask themselves what do i get from showing myself to the public it doesn't give me anything on the contrary it could lead to some crazy person taking notice and breaking into my home or kidnapping one of my children. and those fears are not unwarranted. but then there's also the fact that many errors are inheriting fortunes that are somehow tainted by or related to the 3rd reich. the upper tier of rich germans avoids publicity as if it were the play.

but what are they so afraid of. the. i asked a number of my friends whether they'd like to be interviewed for this film and each one said no they say it's. someone else can do that better than me i can't do it right and i might come across wrong if they think they'd have much more to lose than to gain the 1st few courses this was given come. after a loss of back and forth with a stressed team one ultra rich german did agree to meet us otto is the chairman of the supervisory board of the auto group and one of the 10 richest germans. we asked him why and germans are reluctant to show off their wealth. few people for any wiring are doing so would lead to envy in the us achievement and wealth are seen in a highly positive way. but here they carry

a bitter aftertaste where does his fortune come from or how did he get his wealth that scares some off to the shore and once you buy fuel i think a lot of people find their own welfare little nauseating. i don't know at all i like it mr scott this morning he. did cost money grew up poor his mother ran a small drug store and post will have his son had bigger plans in 1972 the idea of opening the 1st self-service drug store in germany came to him today he's a multimillionaire why was he happy to step into the spotlight. and found that to be in the early years it was just about getting the name rosman on their. way so when i was invited to a talk show i want to small regional channel i like going because i thought free publicity for my company or negated by the film. but then 2 or 3 years ago i

started to understand that this slightly flabby balding man who has teased aren't perfect but was hungry for recognition himself. back then i thought i was stepping into the limelight to promote the company but everyone rationalizes their motives. and i do this. within 40 years became the most profitable drugstore chain in europe with stores in 6 countries. in 2018 a total of 56000 people were working on the chain. osman is active in other business areas as well and he speculates on the stock market. my work couple of private equity investments the largest is are all you'd have

between 80 and 100000000 depending on the story are so it's a fair song there are also shares in different industries it would definitely be boring. a little. venue if you're still referred to as an s m e because small medium enterprise why do you think that's so. i don't really know i just think of a man with 55000 employees you're not really a medium enterprise anymore you're in another league. we're back at managing magazine in hand. with a special issue of being selected. a list of the richest germans includes a notably high number of company owners from the so-called medium sized businesses . it's a german peculiarity and it's not the only one. cover story for this current issue is that last year money rained down on germany's super rich. up here we have the

chef lives the matriarch and her son who now owns 80 percent mom has kept only 20 scheffler subpoena at the top of our list for many many years i would have to check exactly how much they're worth but around 20000000000 give or take a bit. you know down here we have mr bardwell task in the head of the henkel clan she's the 1st and so far only woman chairman of the supervisory board of one of the 30 dax companies. germany's economy is still extremely mild dominated and what's interesting is if you compare our list here with a list of the ultra rich in the us that we have a lot of old money old companies that have been around for decades in the u.s. you have all those lads from facebook google snapchat and so forth a lot of bubbled up to the top of the list because we don't have that type of thing here. and compared with other countries germans are very reticent about showing their wealth the very few german sail around boats like this consistently and

usually that's americans russians chinese and so on once i hear you don't really show your money you might have various houses villas and such but there's likely to be a spark and parked out front of your state and. it seems the average ultra wealthy german israeli conspicuous unlike in the u.s. athletes actors and t.v. personalities rarely make it onto the german list. in kosovo gunston even though we put a great deal of love and sweat into estimating his fortune probably much bigger than the tide or especially if we're talking about urban real estate where prices have exploded over the past 10 years a lot of people have doubled their property assets so if you started with 5000000000 in that market you're likely to have 10 or 15000000000 today that's enough of them. money makes money but well rich germans fortunes have exploded since the financial crisis due to the increase in value of real estate stocks and

assets those with average incomes have had to swallow losses. even liberal economics institutes are concerned about social inequality in germany how do the super rich see this disparity. my headline in the newspaper reads the rich are getting richer and richer which is true the rich are getting richer yes it's true but it's also false that there are $20000000.00 citizens in germany who have assets worth between 100001 1000000. so millions of people are getting richer. now the rich are getting richer even faster because one factor is probable they can dedicate much more time to increasing their wealth but for the. question of the left party would likely say split up your wealth but my response is i also do things for the world which i live in i don't just take or i'm not a socialist though i can only do things because i have things. can you know best.

is one of the great his wealth has increased he successfully transitioned his mail order business into a digital enterprise the 20 companies now belong to the. we wanted to know how to seize the debates about rich and poor. do the rich understand the worries of the poor. and. when people talk about those on top who don't understand those at the bottom i wouldn't say that applies to me. because i was not born rich i came to hamburg as a refugee from west prashant and my father had to start from scratch my father out of. that's why i absolutely do understand people living in poverty today. on the other hand i'd also say that if germany is getting more and more millionaires meaning people with small or medium sized businesses because generally

the millionaires in question did build a business they now run then i think that's great. in the studio because they're the people creating jobs for me that's what should matter in this debate we should focus on that and not rich versus poor right it is good. ensuring that the wealth of rich families can increase despite current 0 interest rates is the mission of custom front company. with. each day he and his employees send out. investment opportunities from banks and other entities given exclusively to his wealthy clients and that this is a way to present an offer to just a handful of valued clients and focus on this. is it said that rich germans are able to increase their wealth while the rest of the

population gets left behind. the biggest degree they think it's difficult to apply terms like equity and fairness to the distribution of wealth i would say that here in germany we're better off than ever before and people here living above average circumstances like nonetheless we have to make sure the gap between rich and poor doesn't get too wide because we don't want social conflicts like in the us or latin america to happen here in america. from based on times company through come is a so-called multi-family office family office has take care of the needs of very wealthy families managing and increasing their assets it only makes sense to use family offices if your wealth is upward of 30000000 euros who can afford such a thing. as. this is causing well over a family office like ours and obviously can't discuss its clients so we have well known german business families that's our typical client profile of the class of.

someone who we were was a company owner thinks differently to someone who has spent their life is going to come to you. or they are families who have had money for a long time so wealth is so to speak in their genes. that is that it wasn't. good for me and then there are families who have just come into their wealth who are still pumping with entrepreneurial energy guys to settle their usually quite different from heirs from kark the. top. my stanford. seems to have plenty of this entrepreneurial energy his company is max that europe's largest fitness studio chain. its headquarters are in an all of baking factory in berlin kind of started off small but today his wealth is valued at 250000000 euros.

and they're from but i was born near. up in a small village normally in villages you do the sports available and when i was around 1516 my role models were arnold schwarzenegger and stallone is that so i came to the fitness world. sun i went from secondary school to complete a salesman apprenticeship and became the many tales 3 supermarkets then he decided to start something new. for the for me. when i was 25 this by decided to switch to the fitness industry my idea was to open a gym where anyone could train no matter his or her income god being good boy that was the initial idea and i had big goals i wanted to be number one in europe but that's all i had i didn't have financing. it was 997 when china opened his 1st fitness studio inverts book close to his home village he made use of some

unusual methods. on the monetary ship it was a big step for me i opened my 1st business studio there under the slogan now also inverts book which people saw through as a marketing gag because customers came to me and asked where else we had studios in the common so i gave it some thought and came up with the next marketing gag soon also in the thing that did the job and also put me on track to going from goats blog to spend then it grew from there. 10 years later kind of should have reached his goal he's number one in europe and still expanding . mexico now owns 10 fitness companies as well as its own model agency. is getting ready to open fitness studios in the u.s. . and super is getting to be number one is much easier than staying number one i think if you want to be successful you

need to be a bit of an alpha animal inside. the investor would probably pick a brand and say ok that could work i like it although it's probably 2 steps too far for many. but if someone doesn't want to get involved with us because of it so what . so what you can do it so i. think an offense that you have an easier time if you want your way to the top and to success the clients feel it and so to partners. i think that's our situation over just us but which is why i can also imagine that someone who inherits something or takes over or even has to take over a company in the 2nd or 3rd generation so we'll have a much tougher time and was of a serious. that there are plenty of s. in germany huge fortunes and thousands of companies have been passed from one generation to the next. there who don't want to and others who shouldn't take over

their parents' businesses succession is hugely important among germany's richest men and harry said the male would accompany it from his father and successfully managed it. for money can there is this it will be harder for my children though because now the auto group has $123.00 companies in over 30 countries one of the lines once is i know every single company either because i was involved when it was founded or because i let the take of a negotiation for money can. my children don't yet know the many companies guns will become. otter's children have opted against direct succession of. the finest beasties just when i think it's important to give your children the option without pressuring them so you don't force them into a wrong i think that mistake is made often and i'd say it's bad for both the children and the company but must be honest under him to put.

his or her mama so i only have one point of sale. are you a bit tired your ass is on an exhausting couple of days in 10 minutes i'll be fine again it was just bam bam bam bam. did close one also spent a lot of time considering who his successor would be it's now decided collars last month the younger of his 2 sons will take over as manager of the drugstore chain. rock do we actually so much yarn it's not exactly part of a drug stores or a trend sort of over it was big in 2016 already fading in 2017 and it's been stagnating in 2018 but it's not the worst product we have and it still brings in some revenue. but it. runs father had to show him the appeal of being in charge. and then using one of the boys got more engaged i thought oh now we can't look as if the drugstore business is only about making money so i showed them how we're also active in social issues in africa and so forth. from i've always showed

my sons there what we do isn't just about making money it's also about being responsible for others by name for mention. as a child i wanted to become a film director that was always my dream it still is today and how to make it happen then you might be thinking you know i don't want to be a director phil moment i want to run the company so i said i want to go ahead and become a director. but being a director of such a big company is also exciting and i did manipulate him a bit. but what if you could find i'm often asked whether i feel competitive toward my father and sure he built up this big company that i will only take over but it's really difficult to keep something going these days the founding period has its own challenges and just having the idea of founding a self-service drugstore was hugely innovative not succumbed but the fight to

survive has gotten tougher and that's the one i'm in. is called also. everyone in my family wants to be good at sports you could my father and i battle each other in tennis. you know we all compete with one another . and that's also shaped our view of life or mine at least depict as a tremendous minor. despite the competitiveness the last month family reach to how many is agreement with regard to succession. as playing against are all wipes me out are normally prefer playing doubles that's much more appropriate for men my age i miss him if i'm starting to worry a bit about you you worry about me with your own arrogance i wouldn't be looking

forward to it. selecting as an successes is usually not quite as amicable as that the last month's. stanford best time has seen many inheritance disputes in rich families it's his job to preserve the family's assets and protected from all sorts of dangers. and from moving to a host maintaining a family fortune over several generations is incredibly difficult because it's under threat from being divvied up through inheritance from wealth just humans from expropriation from wars or simply from stupidity and this will be something in most families will have one or all of these happen to them and only a handful of families have managed to stay more or less afloat over centuries but those right on top have been switched out again and again. he's good we go. from base does time speaks from personal experience his own family's history dates back 900 years. and i have

a horribly long name at least on my birth certificate my 6 given names christiane or tyler would be cool go to villa and maria as a good catholic. followed by by horn fun malcolm hi i'm beschloss hi i'm what it work i'm normally called mr for investors time and at social events baron or lord baron. benjamin based his time is an indirect success of the focus the richest family in germany history. went as well to begin for you it's received if you're asking me at what point i consider someone to be truly real . i would say over a 100 yards. up i don't think i still really wanted to talk. if you could. definitely not rich. but i'm comfortable you go in our family is comfortable because and i'm certainly not complaining when there's a longer view when you have

a family history as long as. your family has seen everything. near bankruptcy. years overflowing with money. and years when a lot was lost in the warm waters. he takes us to the hunting lodge of the best time family in tilling and. it looks like the laws have been lost for ever tearing the division of germany. halls with the house was built in 892 was a hunting lodge for my great great grandson calls. it's been in the family ever since except for a short interval. it was expropriated in 1952 and then restitute it in 1902 and since then i've owned mine and visits. the family's hunting lodge survived expropriation and socialism without much damage

. today from banks the time also and hundreds of pages of forest nearby and regularly invites me. since acquaintance's full hands. and also dorothy many of the trophies are mine and i got several also come from my father. in some from my great grand uncle and leopard down there i didn't shoot him that was my great granddaughter and then my dog chewed off his ears so he no longer has his former beauty and stickers for him but he's too precious not to keep the thoughts of. a recurring topic in the special issues of the manager magazine all the superwealthy snecked works. there are larger and smaller networks and there are a lot of them and most even we journalists don't know about in high society there are certain typical hobbies that horse racing hockey ok but a tennis though that's almost all schools school my tricycle meets in the boxes at

major football stadiums because of course they're all football fan but since info police huge. lots of networking happens there that's not their marketplace they mingle and made them more than it so called parties for the rich as of zubin and i can not. have enough to do we always have a lot of employees here and we have a lot of friends in the box christian pipers here today germany's most famous criminologist. and not so it's sometimes you may live for someone from politics comes by christian voter from between are part of my close or good friends so there's always lots going on here i think i'm with you to be.

involved in a kind of china is opening a new club a new branch of his fitness empire. also has become a member in the network of important. people from the sports business and intertainment industries. along the kind of visit that. i hope you see this visit is true it's a close circle that's hard to get into and sure money attracts success and success attracts money i do believe that order of 5 experienced myself how you can suddenly connect with people previously out of reach and call me to month i am in a different position to how to shun future and the plan. was to. make sort of. good luck to have a good definition of l.a. and san francisco. that's all there is it gets bored. by was.

to fast one is ready to leave his box he wants to celebrate the victory with his friends the billionaire and hearing aid company owner martin kindt. kent is also current owner and president of kind of in 96 he spots as located on the other end of the exclusive v.i.p. area that i turn to we're going to do that all i could do you know i told him that if we didn't when you pay 10000000 that was the bet right there. would have no i never said that you know they were here we have it into a halfway decent 3rd of the given up by the draft never to. networks are important for business but do the rich also have political clout can political influence be pulled into a mini. will stimulate the best way available for retro super rich people in germany to exert influence is the number of employees working in a company as one it's often hard not someone who runs

a company with 100000 employees or let's say less maybe 15000 employees can go to business associations and sang. fine go ahead and pass that law but that will cost me or an even better argument is that will cost you 2000 jobs in that area and jobs but there are no super rich people who regularly call up the ministers or ms merkel and say what needs to happen next which tax law said like and so on that's not how things work here in germany france and it isn't much use. to the one i. just. want to fix to stand by it's tech that's our classes this time the deadline for the special issue is approaching the heart of it is the ranking of the $1001.00 richest german stores what do the rich think of this ranking. their rankings in those rankings are for entertainment or scrape together sometimes using stock

market. but they aren't reliable in any real way and for good. and a good thing invest in traffic can also coughed. and you know i don't think much of these rankings and i didn't want to be included because it creates this impression of rich people being like scrooge mcduck that they have these money bins in which they wallow in their coins. the fact that i'm at the top of the rankings including of the wealthiest germans does make me feel proud and finish no truly please it's manager magazine every now and then but i've never read the ranking i don't know whether i'm in it i don't need that i have other goals. one of these is that hi michelle and now wants to open the world's largest fitness center in north rhine-westphalia. and summarize japanese and means the future we think it's a perfect fit for the whole concept and vision because what we want to create here is truly unique but has never been done before our goal is to become the world's

business center for the center. he's found the perfect location to realize his vision in. his rented an old factory complex. at the moment the space is still being used to make steel pots. but before long thousands of customers will be exercising here. in c.x. its path will be here new officers on top. experienced his most traumatic experience to date in the area. 21 people died and 54 were injured in a stampede at the love parade. had been the parades. because of the panic has still not been conclusively determined how does an entrepreneur. deal

with that kind of tragedy. and event like that will haunt you always for the rest of your life i got a moral responsibility i was the organizer if i could turn back time i would do it immediately for the scale of what happened but you can't make it and you have to try to deal with what happened. last month has also seen setbacks and crises. in the ninety's he expanded dramatically into the czech republic conquering in poland i was also speculating on the stock markets a little too much and neglecting the company then in 1996 we suddenly had a loss of $12000000.00 marks the banks don't joke around if you're highly indebted and then you come in with huge losses and that was critical then i had a heart attack $96.00. but everyone knows that life can get tough and things got very tough back then. i think that that's what is

a. sort of a lie dialed back a bit including stock speculation is fact i sold them all and thought the only thing on my table now was pulling the last month drugstore business through and up and it was the right move to focus on one thing and not do so many different things . so the. money moves from that crisis stronger than ever he started speculating again but so he shows us only with his private wealth it's called moral guess from gets so let's see where god's promise. can make it. i don't have a laptop i normally do this by n.d.p. tax to $54.00. here it says gas promise at $375.00 it's room for column i could already sell those now i bought 250000 of those so 250000 times $0.20 that would give me 50000 euros profit what i want so long it's going to rise

to 4 euros sometimes it works sometimes it doesn't but i enjoy us that's why i don't play the lottery because i find that boring but if it. can and large fortune also be a burden. the whole city might say that for most people although they wouldn't voluntarily give away their money. the fact that they want to grow can be a burden. they are controlled by their own assets. for example they'll move to switzerland or somewhere to save on taxes and give up their entire circle of friends and basically become a slave to their fortune. in my opinion that's absurd considering the conditions we currently have been terminated. the.

conditions in germany are currently more favorable than ever for the rich they pay significantly less tax than they did 25 years ago. only a minority still feels compelled to immigration. 14 of the german constitution states profit. entails obligations its use should also serve the public good do the rich in germany live up to this responsibility. i think it is important if you are successful if you are lucky enough to have reached a certain level of prosperity and wealth to give something back to society for me that's a given he said fish at least. one of germany's biggest stone is his money helps fund the environmental cultural and social sectors like most rich people he prefers to decide himself what he spends his money on rather than leave that to the state.

otto like many wealthy germans had millions for the construction of the ed for the money in hand. in germany wealthy people like today nate and this makes important contributions to society and public life that generally they're against the proposal of redistributing wealth by a higher taxes for the rich. i don't fault if the german businesses would yield to wall the demands of hard say mr barton cash to the left party when millions of people would be happy and things would be good for a while just moment because millions of people would have more money. but in truth redistribution of wealth has never led to more social justice in the long term not in any of the political systems that tried it it led to the impoverishment of these countries. to stand for. higher taxes on the rich as dangerous as going to argue for i don't think much about the so-called rich tax for 2 reasons because firstly the terminology alona stigmatizing and we in germany

should avoid that and secondly the rich tax wouldn't do any good on the contrary it would cut into the backbone of the german economy because the typical german rich person is a medium sized business owner they make up the backbone of the german economy and if we want to destroy that we have no one to blame but ourselves. live short of. the special issue is ready things have basically stayed the same the rich have a few 1000000000 among the richest one percent of germans now has personal wealth was a quarter of the country's assets while a quarter of adults have no wealth or are in debt. for this report we never really got access to the world of the wealthiest germans they prefer to sign into the under the radar away from the public until the next award 70.

and. not the most engines but there's no sweeter sound for fans than a. tiny scoop it does occur in your best seller once a year to speak to you from around the world gather to separate. out. your stupid.

we speak different languages we fight for different things that's fine let me all stick up for freedom freedom of speech and freedom of. us. giving freedom of choice global news that matters w. made for mines. does not for. the world. ask her. let's experience a modern museum centered with her the persian cultural heritage foundation berlin researchers are looking for answers in more than $5000000.00 objects each object relates part of the history of the clay cultural heritage. trove starts june 21st on t.w.

. play . this is d w news live from berlin hong kong leader backs down on extradition chief executive kerry lamb says he's indefinitely suspending debate on a divisive law that would have allowed people to be handed over to mainland china for trial comes after massive street protests and the worst political violence in the territory in decades also coming up the wrong casts doubt on the future of its nuclear deal that's following us accusations that these pictures show iranian forces attacking an oil.