trysted in football than the trappings of fame for that he was loved by the fans something only the true greats achieve. you're watching the news live from valet not helen humphrey taking over the news desk for you it is terry martin thanks as if your company and. unity and justice and freedom the 1st words of the german national lampoon the 3 central values that form the foundation of this country have these values developed and cost 440 years of the fire going to. target

our germany start over 21st on t.w. . 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 co-operation 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 see that sure money attracts success and success attracts money but i do believe that i've experienced myself how you can suddenly connect with people previously out of reach for a kind of. germany's super wealthy how do they live and how do they see the country they live in. as the guy with tyson who got away. wealthy

people in germany are talked about bothers me because it sensationalizing and sycophantic and in no way reflects what wealthy people have done and continue to do for this country for this long. 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. book scrooge mcduck wants more more more and that's not what world minded i like earning money for us but not swimming and. 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 take.

every year an exclusive event takes place in the. back near frankfurt to which the public is not invited but it's the annual hall of fame evening for the business monthly manager magazine. any other occasion in germany joins as many wealthy business owners. in. the. u.k. steamed presenters did jury members deal ladies and gentlemen welcome to manager magazine's hall of fame. 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 a moment and 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 the schmidt feel i've made.

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 their world remains somehow also for each. and home to manage a magazine's parent company the speaker group hardly any publication keeps close a 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. for them how many billionaires are video of

a 480 well the 198 last year was 136 right no verster it was around 170 or 170 ok all that is someone who wants to get on our list of 1001 riches germans needs to have around 100000000 with their cash often quite as you 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 the ice and 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 heads of dax 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 in front of the home also tanya not and he know so that alone can't ever make you one of the truly ultra rich. dozens of nations. creating a list of the wealthiest people is especially difficult in germany they're not because there aren't enough of them. and that's when you can show he somehow managed to amass this huge empire and fortune in just a few years it's offered for his wealth is estimated to be around 4000000000 because he's the least known super rich germans in the home would you let us interview him at home. they prefer to fly under the radar to avoid envy. of the super rich don't like to help themselves so to speak in the midst of this thought

no these are home stories here you can normally only get interviews inside the homes or the 2nd tier one there you always get guys who get a kick out of publicity. like mr marsh. getting a good shot of mr marsh myer is never a problem. but the real money keeps itself hidden guilty as this has to stick to 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 the hymen sites germany's richest family for decades and 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-billionaire. and live in can. for months 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 help frank face here in a prime location tucked behind the bank towers sits the asset management company full can focus on manages 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. so 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 going warranted. but then there's also the fact that many errors are inheriting fortunes that are somehow tainted by or related to the 3rd reich. is.

the upper tier of rich germans avoids publicity as if it were the play. 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'd say. 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 game over a few courses this was given come. after a loss of back and forth with this press 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 the germans are reluctant to show off a well. few people from 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 scare 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 at all i like it mr scott when he. did cost money grew up poor his mother ran a small drug store and postal had after his son had bigger plans in 1972 the idea of opening the 1st self-service drug still in germany came to him today he's a multimillionaire why was he happy to step into the spotlight. and function is that today in the early years it was just about getting the name rossman out there . which i when i was invited to a talk show i want to small regional channel i like going because i thought on the

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 teeth 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. i didn't do this. within 40 years became the most profitable drug store 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.

because. my example of private equity investments is the largest as there are you know between $80.10 depending on the start rate so it's a for some there are also shares in different industries it would just. be boring to. find. the one that you're still referred to as an s. enemy because small medium enterprise why do you think that's so. i don't really know. with 55000 employees you're not really a medium enterprise anymore you're in another league. we're back at manager magazine in hand. with a special issue of being selected. a list of the richest germans includes a notably high number of company other news from the so-called medium sized businesses. it's a german peculiarity and it's not the only one. a cover story for this current

issue is that last year money rained down on germany's super rich. but up here we have the scheffler the matriarch and her son who now owns 80 percent mom has kept only 20 scheffler subpoena 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. down here we have mr barge traffic 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 male dominated what's interesting is if you compare our list here with a list of the ultra rich in the us if we have a lot of old money old companies that have been around for decades in the us you have all those lands from facebook google snapchat and so forth that have bubbled up to the top of the list we don't have that type of thing here. and compared with

other countries germans are very reticent about showing their wealth. very few germans sail around in boats like this consistently and usually touts americans who 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 in parked out front of. it seems the average ultra wealthy german israeli conspicuous unlike in the us athletes actors and t.v. personalities rarely make it onto the german list. even though we put a great deal of love and sweat into estimating his fortunes are probably much bigger than the tide especially if we're talking about going real estate 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 it's in often. 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. tied to this 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. there are 20000000 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 it's beautiful but ugly times are bad and 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 and i don't just take or i'm not a socialist. i can only do things like i don't have things. can you know best of us have a. mission is one of the rich whose wealth has increased he successfully transitioned his mail order business into a digital enterprise over 20 companies now belong to the us or britain. we wanted to know how to seize the debates about rich and poor. do the rich understand the worries of the poor. and the good 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 prussia and my father had to start from scratch on 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 many people with small or medium sized businesses because generally the millionaires in question who did build the business they now run then i think that's great. then that's a look because they're the people creating jobs that's it 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 leaders and.

is it fair. that rich germans are able to increase their wealth while the rest of the population gets left behind. the because you figure they think it's difficult to apply terms like equity and fairness to the distribution of wealth and 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 best of times company full 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 up would of 30000000 euros who can afford such a thing. as. this is. 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 sort of a class of. someone who we were once a company owner thinks differently to someone who has spent their life as a whole unit. or their families who have had money for a long time so wealth is so to speak in their genes. this is that. for me and then there are families who have just come into their wealth who are still pumping with entrepreneurial energy guys to their usually quite different from heirs from carter. and for. the national seems to have plenty of this entrepreneurial energy his company is max fit europe's largest fitness studio chain. its head courses are in an all baking

factory in berlin. started off small but today his wealth is valued at $200.00. it was when he finished and then from by was. grew up in a small village normally in villages you do the sports available and when i was around $1516.00 my role models were arnold schwarzenegger and stallone that's how i came to the fitness world for my son i went from secondary school to compete 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 but i 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 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 shall i opened his 1st fitness studio

in this book close to his home village to make use of some unusual methods. on the truth 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 and the common good 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 boats blog to spend then it grew from there. 10 years later i shall have reached his goal he's number one in europe and still expanding. that now owns 10 fitness companies as well as its own model agency. meanwhile shallows getting ready to open fitness studios in the u.s. . and suburban is getting to be number

one. it's 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. convince 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 in months ago a series. but there are plenty of s.

in germany huge fortunes and thousands of companies have been passed from one generation to the next. their heirs who don't want to and others who shouldn't take over their parents' businesses succession is hugely important among germany's richest. harry said the mail order company from his father and successfully managed it. for money kinda 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 france is behind every single company either because i was involved when it was founded or because i let the take i have a negotiation when you can not my children don't yet know the many companies because. it has children have opted against direct succession. if you missed recently just when i think it's important to give your children the option without pressuring them so you don't force them into a row i think that mistake is made often and i'd say it's bad for both the children

and the company just under an income. that. sort of money so now we have one point of sale. are you a bit tired yes it's for an exhausting couple of days i didn't know it in 10 minutes i'll be fine a unit was just bam bam bam bam bam. did close 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. called rock and we actually sell much yarn it's not exactly part of the drugstores range the 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. and money but it was a good. father had to show him the appeal of being in charge. of the news or when

the boys got more engaged i thought oh no we can't look as if the drugstore business is only about making money so i showed them how we're all so active in social issues in africa and so forth. and i've always showed my sons that 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 you know how do you mean megadeth then you might be thinking you know i don't want to be a director phil moment i want to run the company like that 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. dudus but why fish to fry i'm often asked whether i feel competitive toward my father and sure he built up this big company that i'll only take over but it's really difficult to keep something going

these days as the founding period has its own challenges and just having. the idea of founding a self-service drugstore was hugely innovative much to come but the fight to survive has gotten tougher and that's the one i'm in it. has come also. bought me everyone in my family wants to be good at sports you could my father and i battle each other in tennis. but 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 their competitiveness the last month family reached a harmonious agreement with regard to succession. as show that struggling against her own 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 but mostly well with your own arrogance i wouldn't be looking forward to it. selecting as an successes is usually not quite as amicable as at the hospice. to stand firm based on 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 for movements $100.00 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 it's always in the 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. these would remove.

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 there's my 6 given names christiane big bill him and maria as a good catholic. followed by by horn fun malcolm hi i'm beshrew time but it work i'm normally called mr for investors time and at social events baron or lord baron . very different time has been in direct success some of the focus the richest family in germany history. went as well to begin for years with the reserves if you're asking me at what point i consider someone to be a truly great is i would say over a 100 yards. i don't buy stately really all in but. if you could definitely definitely not rich.

but i'm comfortable you go in your family is comfortable with and i'm certainly not complaining when there's a long interview 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 stuff the best time family in tilling and. it looks like the laws have been lost for ever tearing the division of germany. has holes where the us a house was built in 892 was a hunting lodge for my great great grandson calls. it's been in the family ever since you can except for a short interval. it was expropriated in 1952 and then restitute it in 1902 and since then i've owned in mind of visits.

to. the families hunting lodge survived expropriation and socialism without much damage. today from banks tell us time also and hundreds of pages of forest nearby and regularly invites the. since acquaintance's full hands. and also total fame many of the trophies are mine was all and he got several also come from my father. and some from my great friend uncle. leo pa that leopard down there i didn't shoot him that was my great granddaughter and then my dogs chewed off his ears there so he no longer has his former beauty and stickers for him but he's too precious not to keep it. i swear. a recurring topic in the special issues of the manager magazine the superwealthy snecked let's. get goes a long time 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 but a tennis though that's almost old school you know it's cool but what the hell me to 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 meet them more than at so-called parties for the rich as of zubin and i think pot. was. that. enough and we always are a lot of employees here and we have a lot of friends in the box christian pfeiffer's here today germany's most famous criminologist c.c. i'm not sure it's sometimes you may lurk for someone from politics comes by christian voters from between are part of my close or good friends so there's

always lots going on here is something new to be. in bed then and highness santa 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 school it's business and intertainment industries. when you're going on the kind of visit that. i hope you see. this is true it's a close circle that's hard to get into and i'm 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 we are i am in a different position after the 2 to shun future and the plan. was. the one i have any all i want to with a good definition of l.a.

and san francisco such as that's all there is gets bored. by was. declasse one is ready to leave his box he wants to celebrate the victory with his friend the billionaire and hearing aid company owner martin kindt. kent is also current owner and president of hand evan 1006 kids box is located on the other end of the exclusive v.i.p. area that i turn to when to do that or i could tell you there would be off you know i told him that if we didn't win you could pay 10000000 that was the bet all right that was my idea of it would have never said that yeah even here we have it to a halfway decent 3rd of the given up on the draft never to. networks are important for business but do the rich also have political clout can political influence be pulled in germany. and 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 or these of someone who runs a company with 100000 employees or let's say last maybe 15000 employees can go to business associations and sank. fineman e go ahead and pass that law but that will cost me or 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 laws that like and so on that's not how things work here in germany france and it is unfortunate. that this is the one i. want to stand by. this time the deadline for the special issue is approaching the heart of it is the ranking of the $1001.00 richest germans what do the rich

think of this ranking. their rankings in those rankings are for entertainment or scrape together sometimes using stock market corporations but they aren't reliable in any real way and for. the giving of this interest and also cost position and you 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 but they have these money bins in which they wallow in their coins. with. 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 for a 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 my brother goals. one of these is that hi michelle and now wants to open the world's largest fitness center in north rhine-westphalia. has 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 fitness center for the center. i think 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. you manage and c.-x. its path will be here new officers on top. experienced his most traumatic experience to date in the area and 201021 people died and 54 were injured in a stampede at the love parade induced booker have been the parades organized. the

cause of the panic has still not been conclusively determined how does an entrepreneur in the fast lane deal with that kind of tragedy. and then a bit like that will haunt you always for the rest of your life i've 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 that was critical and then i had

a heart attack in $96.00. but everyone knows that life can get tough and things got very tough back then. that's what is the. sort of ally dialed back a bit including stock speculations 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. some. money moves from that crisis stronger than ever he started speculating again but so you should ask only with his private wealth it's called moral guess from gets so let's see were god's promises this is going to get him a government. i don't have a laptop i don't normally do this by n.t.v. taxed 254. here it says i guess promise at $375.00 it's wrong for

calm i could already sell those now with about 250000 of those so 250000 times $0.20 that would give me 50000 lottery because i find that boring but if it. can and large fortune also be a burden. i hope to see it 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. i'm going to move in my opinion that's absurd considering the conditions we currently have in germany.

conditions in germany are currently move 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 brawl. possible 14 of the german constitution states prophecy entails obligations its use shall 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 says fortunately michaud auto is one of germany's biggest don't is his money helps fund the environmental cultural and social sectors. like most rich people he prefers to decide themselves what he spends his money on rather than leave that to the state. also like many wealthy german stand they said millions for

the construction of the ed for the money in hamburg in germany wealthy people like to donate 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 you german businesses would yield to wall the demands of hard say ms barton cash to the left party even 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 i can i don't think much about the so-called rich tax for 2 reasons because firstly the terminology alone

a 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. for. this special issue is revealing things have basically stayed the same the rich have a few 1000000000 a mole. 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 record we never really got access to the world of the wealthiest germans they preferred to fly silently under the radar away from the public only until the next award ceremony.

and. is he a traitor or a fighter for free access to information. julian assange. the founder of the wiki leaks whistleblower platform is in a london jail he's waiting to see if he'll be extradited to the states or to sweden how much truth lies behind the charges against julian assange. closer in time to minutes w. . world unto itself.

with its own gravitational pull. the finest musical compositions. with some mysteries terrific. one to me that he was in to do and don't tell me that this. and the. reason you listen for a few hummus pumps. how do the romantic master such a piece of. the brahms code.

this is news coming to you live. please hunt for clues about why a man may have turned a stolen truck into a weapon a suspect from syria is charged with attempted murder in the case investigators say they still have no answers about a possible motive also coming up. protests forced government to move out of the capital some demonstrators stormed the country's congress says thousands rallying against price hikes on fuel.