unity and justice and freedom the 1st words of the german national anthem and the 3 central values that form the foundation of this country have these values developed in post-war germany or is it to live for an end to these principles in our nature to want. our germany starts oct 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 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 see it sure money attracts success and success attracts money this i do believe that and on them i've experienced myself how you can suddenly connect with people previously out of reach for a kind of shows how to. folks who are gemini's super wealthy how do they live and how do they see the country they live in. as the guy with the way wealthy people in germany are talked about bothers me because it sensationalizing and sycophantic and and in no way reflects what wealthy people have done and continue to do. for this

country for these long hard. 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 they would immune from the best book scrooge mcduck wants more more more and that's not my world buying that. i walk around in my house but not swimming in it we thought. we wanted to get closer to the discreet world of germany's ultra rich of company own is 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 schlosser take on back me a friend 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. steamed presenters did jury members steer 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 like. 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's team gathers information on wealthy germans and using the forbes model makes a special edition with a list of germany's 1001 richest people. you know. it's painstaking work. and list of how many billionaires are video from a 48198 last year was 136 right no last year it was around 17170 ok on that is someone who wants to get on our list of 1001 the richest

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 bison. contant to devise an. editing chief stephan close one has been around germany's ultra wealthy for years. what does it take to get on the list. as you go to 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 1000000000 adding managers also have a hard time getting that high up here in germany there's a debate about whether the heads are 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 for the law and also tanya and heena so that alone can't ever

make you one of the truly ultra rich it's across 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. that's a good shot he somehow managed to amass this huge empire and fortune in just a few years it's offered for his wealth as estimated to be around 4000000000 because 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 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 because there hasn't been a photo of her 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 idea. nathan even can. fill 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 in the financial hub 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. is. the upper tier of rich germans avoids publicity as if it were the play.

but what are they so afraid of. the help of my point 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 gain the 1st 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 misha otto is the chairman of the supervisory board of the auto crew and one of the 10 richest germans. we asked him why the germans are reluctant to show off their wealth. if you do you prefer any wiring or 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 from 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 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 $972.00 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 functioning is that today in the early years it was just about getting the name rossman on their. way so when i was invited to a talk show on a small regional channel i like going there 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. and i didn't just. 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 00 you'd have between 80

and 100000000 depending on. so it's a fair sum there are also shares in different industries. you're still referred to as n s m e because small medium enterprise right 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 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. but up here we have

the scheffler the matriarch and her son who now owns 80 percent mom has kept only 20 scheffler sabine 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 missed bargewell tasks in the head of the henkel class 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 them 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 doubled 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 the very few germans sail around in boats like this. fantasy and usually

that's american and 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 whole spark and parked out front of. 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. even though we put a great deal of love and sweat into estimating his fortunes are probably much bigger than the tide is specially 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 and it's in are often. money makes money but will 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. erosion of the title is the right. 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 probably that they can dedicate much more time to increasing their wealth it's beautiful the ugly thing the tides are about and passion 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 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 the good when people talk about those on top who don't understand i was 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 and my father out of. that's why i absolutely do understand people living in poverty today you would 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 who did build the business they now run then i think that's great. then this is 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 he does. is it 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 u.s. or latin america to happen here in america. from best of times company full come in the 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 a. this is carson well of 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 are or was a company owner thinks differently to someone who has spent their life as a whole you can come to you. more there are families who have had money for a long time so well. so to speak in their genes. this is the gain in the limb for me and then there are families who have just come into their wealth who are still pumping with entrepreneurial energy guys to still they're usually quite different from ayres. i see it as a must for. the national seems to have plenty of this entrepreneurial energy his company is maxed that europe's largest fitness studio chain. its head courses are in and they can 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 grew up in a small village and normally in villages you do the sports available and when i was around 1516 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 competing salesman apprenticeship and became the many tales 3 supermarkets then he decided to start something new. for the for me to move through once even 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 inverts book close to his home village he made use of some unusual methods.

on them when the truth 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 why. else we had studios so i gave it some thought and came up with the next marketing gag soon also in ellen 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 they have reached his goal he's number one in europe and still expanding. netflix now owns 10 fitness companies as well as its own model agency. is getting ready to open fitness studios in the u.s. . do more and severe than it's 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 all. 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. i'm convinced that you have an easier time if you vote your way to the top and to success. clients appeal 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 will have a much tougher time and money was a serious. 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 michelle and harry said the male would accompany it from his father and successfully managed it. for money can the. this it will be harder for my children though because now the auto group has 123 companies in over 30 countries one of the lines francis i know every single company either because i was involved when it was founded or because i led the takeover negotiation for money can not my children don't yet know the many companies the con. artist children have opted against direct succession of. the fitness beasties discipline i think it's important to give your children the option without pressuring them so you don't force them into a role i think that mistake is made often and i'd say it's bad for both the children and the company must. put.

his or her money so no we have one point of sale. are you a bit tired your house is burning exhausting couple of days in 10 minutes i'll be fine a unit 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 hollow last month the younger of his 2 sons will take over as manager of the drugstore chain. rod we actually so 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 that's one of the many. roles father had to show him the appeal of being in charge. and then using 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. and i've always showed

my sons there what we do isn't just about making money it's also about being responsible for others mention. what a woman as a child i wanted to become a film director that was always my dream it still is today and how do you mean megadeth then you might be thinking you know i don't want to be a director film oh my i want to run the company at least 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. this little 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 much to come 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. 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 out how many is agreement with regard to succession. as playing against raul 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 inheritance i wouldn't be looking forward to it. selecting as an successes is usually not quite as amicable

as at the last months. to stand for 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 well just humans from expropriation from wars or simply from stupidity and this will be something that 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 bored we go. from base does time speaks from personal experience his own family's history dates back 900 years it's long and i have

a horribly long name at least on my birth certificate there's my 6 given names christiane. villa him and maria as a good catholic followed by malcolm hi i'm best it's high time but at work i'm normally called mr for investors hein and at social events baron or lord baron. there. time isn't in direct success some of the focus the richest family in germany has trained. winters well to begin for years it's really just if you're asking me at what point i consider someone to be truly really is i would say over a 100 yards. i don't but i still really all and it's hard. if you could defeat me and i am definitely not rich. i was keep my good play but i'm comfortable you go in your family is comfortable because and i'm certainly not complaining when there's a long living when you have

a family history as long as i'm honest or with your family has seen everything exploded near bankruptcy. years overflowing with money. side and years when a lot was lost aboard more than just. he takes us to the hunting lodge off the best time family in tilling and. it looks like the laws have been lost for ever tearing the division of germany. as holes were 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 except for a short interval. that 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 place time to time also and hundreds of pictures of forests nearby and regularly invites business acquaintances full hunts. and calls total free many of the trophies or more was all i got several also come from my father. was and some from my great grand uncle. leo pot leopard. on there i didn't shoot him that was my great granddaughter who had been my dog chewed off his ears there so he no longer has this former beauty and stickers for it but he's too precious not to keep it. as. a recurring topic in the special issues of the manager magazine other super wealthy snecked let's. get goes on plan 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 old school old school what's left to tell me to the

boxes at major football stadiums because of course they're all football fan a sense in football he's huge. lots of networking happens there that's not their marketplace they mingle and meet them more than it so-called parties for the rich as of zubin and i think. that would. have enough to do 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 never sees the human assets sometimes you may live for someone from politics comes by because turnbull from between are part of my closer girlfriends so there's always lots going on here i think it's something new to be.

in bed then a kind of shana is opening a new club a new branch of this 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 kitchen because listen this 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. the 5 experienced myself how you can suddenly connect with people previously out of reach and call me i am in a different position the 2 to shun future in the band. was. good last year with a good definition. in san francisco and that's all this gets bored. by. was the.

last 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 a $96.00 his box is located on the other end of the exclusive v.i.p. area and now opportunities we're going to do that all i could give you yeah he offered no i told him that if we didn't win you could pay 10000000 that was the bet all right that was my idea but there were no i never served there yes they were 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 bold in germany. 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 happen of someone who runs

a company with 100000 employees or let's say less maybe 15000 employees can go to business associations and say 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 in the in by but there are no super rich people who regularly call up the ministers. ms merkel and say what needs to happen next which tax loss that like and so on that's not how things work here in germany france and it isn't much. to do that someone had told me that you know this not to sumatra when i stand by this technique classes this time the deadline for the special issue is approaching the heart of it is the ranking of the 1001 richest germans what do the rich think of this ranking. their rankings in those rankings are for entertainment all scraped together sometimes using stock market corporations but they aren't reliable in any

real way and for. giving and visit often can also cost position out of here 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 ranking saying including of the wealthiest germans does make me feel proud and finish. please it's what 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. the riaa is 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 and has never been done before our goal is to become the world's

business center for the center of their. son i think he's found the perfect location to realize his vision in. his rented an old factory complex. at the moment this space. 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 and the officers on top. experienced his most traumatic experience today in the area. 21 people died and 54 were injured in a stampede at the love parade in to. help in the parade. because of the panic has still not been conclusively determined how does an entrepreneur. deal with that kind of tragedy. in an 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 that was critical then i had a heart attack in $96.00. but everyone knows that life can get tough and things got very tough back then.

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. 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 us from gets so let's see we're god's promise that. can make you happy. i don't have a laptop i normally do this by and be taxed to $54.00. here it says i just promise at $375.00 it's wrong for column i could already sell those now to about 250000 of those so 250000 times $0.20 that would give me 50000 euros

profit but 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. i hope to said knight say that for most people although they wouldn't voluntarily give away their money on the fact that they wanted 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. going to move in my opinion that's absurd considering the conditions we currently have in germany. because.

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 brawl. on sickle 14 of the german constitution states. entails obligations its use should also serve the public could 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 sufficient lea. michele the 2 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 himself what he spends his money on rather than leave that to the state. also like many wealthy germans donated millions for the

construction of the airfield money in hamburg in germany wealthy people like to donate and this makes important contributions to society and public life they're 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 all 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 because millions of people would have more money. but in truth redistribution of wealth has never lead 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 out of. to stand for. higher taxes on the rich as dangerous as i can but 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 up with one voice . short. medium and the special issue is ready 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 sign and she under the radar away from the public until the next award ceremony.

and. the squad as soon as it succeeds. to understand the world. we need to take a closer. experience not. to.

take no after the well found it was the feet of berlin's newly found freedom. dance with old timers and new comers. from the love great to gentrification authenticity and consumerism 30 years of techno. where are we going and where did we countdown. in 60 minutes. and i'm just going to brand new delusion move on in this post it's personal device and it's about topics that affect us hold water pollution climate change and the big turn. loser is 1st check out.

this is deja vu news live from berlin turkey continues its assault against the kurds in northeastern syria defying calls to stop from the pentagon in washington we oppose and are greatly disappointed by turkey's decision to launch a unilateral military incursion into northern syria we are not abandoning our current partner forces meanwhile footage has emerged apparently showing an i.a.s. terrorists and their families trying to escape the detention camp guarded by the kurds also.