Michael Otto Net Worth 2026

The estimated net worth of Michael Otto is $6.6 billion USD.
Real Name Michael Otto
Net Worth 2026 $6.6 billion USD
Birthday (Year-Month-Day) 1943-4-12
Nationality German
Occupation Businessman, Head of Otto Group
Height 1.75 m or 5 ft 9 inches
Weight 80 kg or 176 pounds
Marital Status Married
Ethnicity German
Education University of Hamburg, University of Munich
Kids 2
Kids Names Benjamin



Michael Otto
Born12 April 1943 (1943-04-12) (age 83)
Chełmno (Kulm), Reichsgau Danzig-West Prussia
Education
OccupationFormer head of Otto Group
Children
ParentWerner Otto (father)
RelativesKatharina Otto-Bernstein (sister)
Frank Otto (brother)
Alexander Otto (brother)

Michael Otto (born 12 April 1943) is the honorary chairman of the supervisory board of Germany's Otto Group,[1] one of the world's largest mail order companies, with €15.6 billion in revenue in 2021.[2]

Life and career

Otto was born in 1943 in Kulm as the son of Werner Otto. In 1945, he fled with his family to Hamburg, where his father founded a mail-order shoe business in 1949, which would later become Otto Group.[3] After an apprenticeship in banking at Merck Finck & Co in Munich,[4] he studied economics at the University of Hamburg and LMU Munich and obtained a doctorate.[3]

In 1971, he became a member of the executive board responsible for textile purchasing in his father's company.[4]

In February 1981, Otto became chairman of the executive board of the Otto Group. He remained in office until October 2007 and was chairman of the supervisory board until March 2025.[5] During his tenure, the Otto Group developed from a catalogue mail-order company into a digital retail group.[6] In 1986, he made environmental protection a corporate objective. Measures included changes towards more environmentally compatible production, waste separation and a shift from air freight to sea transport.[4] The group also acquired various companies including Limango, Manufactum and SportScheck, and founded companies including About You and Bonprix.[7][8]

The family members were the former owners of Spiegel, Inc. (the parent company of Eddie Bauer and former owners of Spiegel catalog), which filed for bankruptcy on 17 March 2003. On 25 May 2005, Spiegel, Inc. emerged from bankruptcy, was renamed Eddie Bauer Holdings, and is now owned primarily by Commerzbank. The Otto Group no longer has any stake in the company.

Until April 2014, Otto was a member of the supervisory board of Axel Springer SE.[9] He was also a partner in Robert Bosch Industrietreuhand KG until April 2016, which holds 93% of the voting rights in Robert Bosch GmbH.[10][11] Otto is also a member of Deloitte's advisory board.[12]

In 2011, Otto was criticised over wage dumping and precarious working conditions among parcel couriers at the group-owned subsidiary Hermes Europe.[13] In August 2011, ARD broadcast the report Das Hermes-Prinzip: Ein Milliardär und seine Götterboten on the subject.[14] Michael Otto and Hermes denied the existence of precarious working conditions, attributing problems to individual subcontractors.[15] In September 2011, Hermes announced that it had ended cooperation with several subcontractors and that the Otto Group's ethical standards would in the future apply to companies and suppliers working on Otto's behalf.[16]

The wealth of the Otto family was listed under Michael Otto's name on the Forbes 2015 billionaires list at US$15.4 billion. The family ranked 51st worldwide and seventh among German billionaires.[17]

In April 2015, Otto announced that he would transfer his majority stake in the Otto Group, and thus much of his wealth, to a new charitable foundation. Its annual distributions were intended to support cultural, social, environmental and charitable projects while ensuring the Otto family's long-term influence over the group.[18][19]

On 1 March 2025, he handed over the chairmanship of the supervisory board to his former chief executive Alexander Birken.[20] Since 2025, he has been honorary chairman of the supervisory board.[21]

Otto is married to Christl Otto and is the father of Janina (born 1973) and Benjamin Otto (born 1975)[5] and lives in Hamburg, Germany.[3]

Honorary positions

To support specific projects in the field of nature conservation,[4] Otto established the Michael Otto Stiftung für Umweltschutz (Michael Otto Foundation for Environmental Protection) in 1993, renamed Umweltstiftung Michael Otto (Environment Foundation Michael Otto) in 2018, and is chairman of its board of trustees.[22] In 2005, he founded the Aid by Trade Foundation, which supports smallholder farmers in Africa, and chairs its board of trustees.[23]

Otto is president and founder[24] of Stiftung KlimaWirtschaft (formerly Stiftung 2 Grad) which promotes the transition towards a carbon-free economic system.[25][4] He once stated about this transition: "Understanding climate protection as a modernisation project for the economy can now play an important role in overcoming the consequences of the Corona crisis – and at the same time help to avoid profound negative impacts of the climate crisis."[25]

He belonged to Helmut Schmidt's Friday Society[26] and was deputy chairman of the board of the cultural circle of German industry within the BDI.[27]

Further honorary positions include:

  • co-founder and honorary senator of the German National Foundation[28][29]
  • member of the board of trustees of the Helmut and Loki Schmidt Foundation[30]
  • co-founder and honorary council member of the World Future Council[31]
  • chairman of the board of trustees of the Society for Politics and Economics (Haus Rissen Hamburg)[32]
  • honorary chairman of the foundation council of WWF Germany[33]
  • member of the Club of Rome[34]

Awards and honours

For his engagement in the fields of the environment and sustainability, Otto received awards, including the German Environmental Prize in 1997[35] and the Sustainability Leadership Award in 2002.[36] In 1999, the University of Hamburg awarded him honorary senatorial status,[37] as it had previously done for his father Werner Otto in 1988. In 2000, Otto also became an honorary senator of Ernst Moritz Arndt University of Greifswald.[38]

In 2001, he was named Manager of the Year, and in 2005 he received the Vernon A. Walters Prize of Atlantik-Brücke for promoting German-American relations.[39] On 30 November 2006, on the proposal of Federal President Horst Köhler, he was awarded the Grand Cross of Merit with Star of the Order of Merit of the Federal Republic of Germany.[40] In 2007, he received the German Retail Award in the Lifetime Award category.[41] The Theodor Heuss Foundation awarded him the Theodor Heuss Prize in 2010 for a company culture regarded as exemplary in both economic and ethical terms.[42] In 2013, the WWF named the newly described hawkweed species Pilosella ottonis, endemic to the Spessart, after him.[43] On the occasion of his 75th birthday, Otto was invited to a Senate breakfast by Hamburg mayor Peter Tschentscher in 2018 and was granted the honorary title of professor.[44]

Further honours

Publications

  • Michael Otto (ed.): Das Michael Otto Prinzip. Steidl, Göttingen, 2023, ISBN 978-3-96999-239-5.

Films

  • Typisch! Michael Otto: Ein Leben zwischen Bangladesch und Blankenese. Documentary film, Germany, 2018, 30 minutes. Written by Frank Sieren, produced by NDR, in the series Typisch!, first broadcast 27 September 2018.
  • Die Ottos. Documentary film, Germany, 2012, 45 minutes. Written and directed by Dagmar Wittmers, produced by NDR, in the series Deutsche Dynastien, first broadcast 7 May 2012.
  • Amerika war mein Jugendtraum. Documentary, Germany, 2011, 22:44 minutes. Produced by n-tv, first broadcast 21 June 2011, online video.
  • Mit langem Atem. Documentary, Germany, 2008, 45 minutes. Directed by Meike Hemschemeier and Thomas Weidenbach, produced by WDR, first broadcast 23 September 2008.
  • Das Hermes-Prinzip – Der Milliardär und seine Götterboten, documentary by Monika Wagener and Ralf Hötte, Germany, 45 minutes, produced by WDR, first broadcast 3 August 2011.

References

  1. ^ "Otto Group: Supervisory Board". www.ottogroup.com. Retrieved 12 July 2021.
  2. ^ "Otto Group makes progress in latest year, expects fashion segment recovery". Fashion Network. Retrieved 19 May 2022.
  3. ^ a b c "Forbes profile: Michael Otto". Forbes. Retrieved 30 August 2020.
  4. ^ a b c d e Läsker, Kristina (11 April 2023). "Michael Otto: Der Ökopionier". Die Zeit (in German). Hamburg. ISSN 0044-2070. Retrieved 15 April 2026.
  5. ^ a b "Lebenslauf Michael Otto". Manager Magazin (in German). 17 November 2004. Retrieved 15 April 2026.
  6. ^ Grieser, Katrin (1 August 2025). "Otto: Die Transformation vom Katalog zum digitalen Riesen". K5 (in German). Retrieved 16 April 2026.
  7. ^ Pfeiffer, Hermannus (13 September 2007). "Familienstratege feiert Abschied. Michael Otto gibt das Kommando beim weltweiten Versandhändler ab – bleibt aber an Bord". Frankfurter Rundschau (in German).
  8. ^ Meyer, Cornelia (16 April 2019). "Otto ist in Europa die einzige Alternative zu Amazon: Unternehmer Michael Otto im Interview". Business Insider (in German). Retrieved 19 August 2025.
  9. ^ "Neuwahlen zum Aufsichtsrat der Axel Springer SE Axel Springer SE". Axelspringer.de. 15 March 2014. Archived from the original on 7 March 2014. Retrieved 15 April 2026.
  10. ^ "Einzug in den Olymp". Manager Magazin (in German). 14 December 2006. Retrieved 15 April 2026.
  11. ^ Schallenberger, Luca (1 January 2023). "Warum der Enkel des Industriegiganten Robert Bosch einen Hof für Rinder unterhält – und was das mit seinem Erbe zu tun hat". Business Insider (in German). Retrieved 15 April 2026.
  12. ^ "Ex-SPD-Chef geht in Beirat von Deloitte". Handelsblatt (in German). 28 March 2019.
  13. ^ Hartmann, Kathrin (2012). Wir müssen leider draussen bleiben: die neue Armut in der Konsumgesellschaft (2. Aufl ed.). München: Blessing. ISBN 978-3-89667-457-9.
  14. ^ Teevs, Christian (3 August 2011). "ARD-Film über Lohndumping: Die Paketboten und der Milliardär". Der Spiegel (in German). Retrieved 19 August 2025.
  15. ^ "ARD-exclusiv: Das Hermes-Prinzip". ARD (in German). 3 August 2011. Archived from the original on 16 August 2011. Retrieved 15 April 2026.
  16. ^ Kranz, Beate (24 September 2011). "Hamburger Versandhaus Otto kämpft gegen Lohndumping". Hamburger Abendblatt (in German). Retrieved 15 April 2026.
  17. ^ "Michael Otto". Forbes. Retrieved 15 April 2026.
  18. ^ "Otto Group: Michael Otto gibt Beteiligung in Stiftung". Handelsblatt (in German). 1 April 2015. Retrieved 15 April 2026.
  19. ^ Geisler, Bob; Schade, Oliver (1 April 2015). "Michael Otto stiftet Milliarden-Vermögen". Hamburger Abendblatt (in German). Retrieved 15 April 2026.
  20. ^ Mehringer, Martin (12 March 2024). "Handelsriese Otto setzt erstmals auf eine Frau an der Spitze". Manager Magazin (in German). Retrieved 15 April 2026.
  21. ^ "Management". Otto Group (in German). Retrieved 15 April 2026.
  22. ^ "Die Stiftung". Umweltstiftung Michael Otto (in German). Retrieved 15 April 2026.
  23. ^ Simons, Kristina (9 September 2023). "Millionenfach helfen". Die Tageszeitung. ISSN 0931-9085. Retrieved 14 August 2025.
  24. ^ Lutz, Jan (12 May 2024). "Diese Frau bricht das Schweigen zwischen Wirtschaft und Ampel". Wirtschaftswoche (in German). Retrieved 15 April 2026.
  25. ^ a b "Business Statement for crisis management and a sustainable future". Stiftung 2 Grad. Archived from the original on 17 May 2020. Retrieved 28 August 2020.
  26. ^ "Objekt der Woche: Die Freitagsgesellschaft". helmut-schmidt.de (in German). 23 November 2018. Retrieved 5 February 2023.
  27. ^ "Kulturkreis Vorstand". Kulturkreis.eu (in German). Archived from the original on 8 August 2014. Retrieved 15 April 2026.
  28. ^ "Kompakt: Hamburg jetzt: so tickt die Stadt". Die Welt (in German). 28 December 2017. Retrieved 15 April 2026.
  29. ^ "Volksbund Deutsche Kriegsgräberfürsorge erhält Preis". Die Welt (in German). 16 March 2016. Retrieved 15 April 2026.
  30. ^ Meyer-Odewald, Jens (10 May 2016). "Helmut Schmidts Haus wird zum Museum: Zutritt wohl per Los". Hamburger Abendblatt (in German). Retrieved 15 April 2026.
  31. ^ "Alles wird gut – erst die Laune, dann die Zukunft". Bergedorfer Zeitung (in German). 16 November 2024.
  32. ^ "Demokratie braucht Raum". www.hausrissen.org (in German). Retrieved 15 April 2026.
  33. ^ Kühl, Janine (12 April 2018). "Michael Otto: Der Unternehmer mit sozialem Gewissen". ndr.de (in German). Retrieved 15 April 2026.
  34. ^ Iken, Matthias (19 April 2024). "Was wird aus Hamburg? Michael Otto nimmt Stadt in die Pflicht". Hamburger Abendblatt (in German).
  35. ^ "Deutscher Umweltpreis 1997". dbu.de (in German). Archived from the original on 24 December 2010. Retrieved 15 April 2026.
  36. ^ "Sustainability". Sustainability-award.com. Archived from the original on 17 May 2013. Retrieved 15 April 2026.
  37. ^ "Ehrungen und Preise der Universität: Auszeichnungen". Uni-hamburg.de (in German). Archived from the original on 4 December 2016. Retrieved 15 April 2026.
  38. ^ "Ehrensenatoren Ernst-Moritz-Arndt-Universität Greifswald". Uni-greifswald.de (in German). 18 June 2012. Archived from the original on 14 May 2013. Retrieved 15 April 2026.
  39. ^ "Liz Mohn erhält Vernon A. Walters Award". IDW (in German). 14 March 2008. Retrieved 15 April 2026.
  40. ^ "Michael Otto zieht sich zurück: Wechsel an der Spitze des Otto-Konzerns". Rheinische Post (in German). 17 January 2007. Retrieved 15 April 2026.
  41. ^ a b Beck, Kerstin (12 July 2018). "Milliardär besucht seine Prignitzer Stiftungs-Projekte". Märkische Allgemeine Zeitung (in German).
  42. ^ "Michael Otto wird mit Heuss-Preis geehrt". Hamburger Abendblatt (in German). 27 January 2010. Retrieved 15 April 2026.
  43. ^ "Neue Blume im Spessart entdeckt". Main Echo (in German). 12 April 2013. Retrieved 15 April 2026.
  44. ^ Hamburger Ehrenbürger Michael Otto wird Professor. In: abendblatt.de. 23 April 2018.
  45. ^ a b "Dr. Michael Otto wird 50". Textilwirtschaft (in German). 8 April 1993.
  46. ^ "Prof. Dr. Michael Otto (born 1943)". Hamburg.de (in German). Retrieved 15 April 2026.
  47. ^ "Aktionsgemeinschaft Soziale Marktwirtschaft – Wirtschaft für den Menschen". www.asm-ev.de (in German). Archived from the original on 26 March 2018. Retrieved 15 April 2026.
  48. ^ "Preis für Verständigung und Toleranz". Jüdisches Museum Berlin (in German). Retrieved 15 April 2026.
  49. ^ "Versandhauschef wird mit B.A.U.M-Sonderpreis geehrt". Lebensmittel Zeitung (in German). 9 September 2005. Retrieved 15 April 2026.
  50. ^ "Deutscher Gründerpreis: Werner und Michael Otto". Deutscher-gruenderpreis.de (in German). Archived from the original on 19 December 2011. Retrieved 15 April 2026.
  51. ^ "Rede von Bundespräsident Horst Köhler zum 60-jährigen Bestehen des Bundesverbandes Deutscher Stiftungen am 27. Juni 2008 in München:". Bundesregierung.de (in German). Archived from the original on 18 April 2016. Retrieved 15 April 2026.
  52. ^ "Kotler und Otto erhalten Ehrendoktorwürde der Handelshochschule Leipzig (HHL), HHL Leipzig Graduate School of Management, Story". Pressebox.de. 29 March 2012. Retrieved 15 April 2026.
  53. ^ Machatschke, Michael (14 June 2012). "Hall of Fame: Götz Werner und Michael Otto aufgenommen". Manager Magazin (in German). Retrieved 15 April 2026.
  54. ^ Preuß, Frank (13 October 2013). "Große Prominenz beim „Steiger Award" im Dortmunder U". Westfälische Rundschau (in German). Retrieved 15 April 2026.
  55. ^ "Prof. Dr. Michael Otto ist neuer Ehrenbürger". Hamburg.de (in German). 15 August 2013. Retrieved 15 April 2026.
  56. ^ Prokasky, Anke (14 October 2015). "Personen: Bayerischer Verdienstorden für Michael Otto". Textilwirtschaft (in German). Retrieved 15 April 2026.
  57. ^ "Patriotische Gesellschaft ehrt Bejarano und Otto - WELT". Die Welt (in German). 11 May 2016. Retrieved 15 April 2026.
  58. ^ "Michael Otto erhält Deutschen CSR-Preis". Umweltdialog.de (in German). 23 February 2017. Retrieved 15 April 2026.
  59. ^ "Leute: The Young ClassX begeistern". Die Welt (in German). 4 July 2017. Retrieved 15 April 2026.
  60. ^ "Michael Otto mit europäischem Preis geehrt". Mitteldeutsche Zeitung (in German). 7 February 2019. Retrieved 15 April 2026.
  61. ^ Becht, Sebastian (11 January 2020). "Bundestagspräsident Schäuble würdigt Michael Otto". Hamburger Abendblatt (in German).
  62. ^ "Weltwirtschaftlicher Preis 2021 verliehen". ifw-kiel.de (in German). 5 September 2021. Retrieved 15 April 2026.
  63. ^ "Reinhard-Mohn-Preis geht an Maia Sandu und Michael Otto". Die Glocke. 2 December 2024. Retrieved 15 April 2026.
  64. ^ Müller, Anja (30 January 2025). "Was die neuen Mitglieder in der Hall of Fame auszeichnet". Handelsblatt (in German). Retrieved 15 April 2026.

Fact Sheet

  • Michael Otto's real name is Michael Otto
  • Wondering where Michael Otto is from? Michael Otto is from German!
  • Michael Otto works as a(n) Businessman, Head of Otto Group
  • Michael Otto celebrates their birthday on 4-12
  • Michael Otto is 83 years old
  • Michael Otto's relationship status is Married
  • Which school did Michael Otto go to? Michael Otto attended University of Hamburg, University of Munich
  • Michael Otto is a proud parent of 2 kids
  • Michael Otto kids names are Benjamin

FAQ

Michael Otto 2026 net worth is $6600 million USD
Michael Otto has a networth of $6600 million USD
Michael Otto has an estimated wealth of $6600 million USD
Michael Otto has approximately $6600 million USD



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