Michael Schmidt-Ruthenbeck

Michael Schmidt-Ruthenbeck
Born1942 (age 83–84)
Occupations16% owner, Metro AG
RelativesRainer Schmidt-Ruthenbeck (brother)

Michael Schmidt-Ruthenbeck (born 1942) is a German billionaire businessman, together with his brother Rainer, owner of 16% of the retail group Metro AG.[1]

Early life

He is the son of Wilhelm Schmidt-Ruthenbeck and Vera Ruthenbeck.[2] His brother is Rainer Schmidt-Ruthenbeck and his sister is Viola Schmidt-Ruthenbeck.

Career

In the 1990s his family founded the Stiftung Mercator,[3] the Mercator Schweiz and the Karl Schmidt Family Foundation.[1]

In February 2006 Michael ousted Reiner from the managing director position at Metro AG. Sometime in 2006 (likely September) the family holding company sold its share of Metro AG from 18.54% to 13.15%.[4]

In August 2007 Otto Beisheim was the victim of a boardroom coup when the Haniel family interest acquired more capital than they had already in Metro AG; together with the Schmidt-Ruthenbeck family holding they held a majority share and Beisheim was frozen out of control.[5]

Schmidt-Ruthenbeck and Metro AG were investigated by the Competition Bureau in 2008 for some reason of concentration (probably some sort of merger with Franz Haniel & Cie.) but the Bureau decided not to proceed.[6]

In September 2011, Haniel owned 34 percent of Metro AG; the Schmidt-Ruthenbeck family owned 16%. CEO Eckhard Cordes feared for his job.[7]

On the Forbes 2016 list of the world's billionaires, he and his brother were ranked #722 with a net worth of US$2.4 billion.[2]

In 2019 it was reported that Cambiata Schweiz was owned by Michael Schmidt-Ruthenbeck and his family.[8]

In 2020 it was revealed that the Schmidt-Ruthenbeck holdings in Metro AG were controlled via the Meridian Foundation mechanism. The family was then engaged is a boardroom tussle with the Czech investor Daniel Kretinsky, who on 21 January controlled 29.99% of the shares. Another significant holding was that of the Beisheim Group.[9]

In October 2022 the Schmidt-Ruthenbeck family was the object of a curiosity seeker. Apparently Michael had invested in a solar PV plant.[10]

Personal life

He lives in Duisburg, Germany.[2]

References

  1. ^ a b "Michael & Reiner Schmidt-Ruthenbeck". Forbes Media LLC. Retrieved 8 April 2023.
  2. ^ a b c "The World's Billionaires (2016 ranking): #722 Michael & Reiner Schmidt-Ruthenbeck". Forbes. 1 March 2016. Retrieved 2 January 2017.
  3. ^ "GUIDING VISION". Stiftung Mercator. Retrieved 8 April 2023.
  4. ^ "manager magazin Online: Familienkrach im Gesellschafterkreis der Metro AG". SPIEGEL-Verlag Rudolf Augstein GmbH & Co. KG. 8 September 2006.
  5. ^ "Der Coup der Haniels". Frankfurter Allgemeine Zeitung GmbH. 20 September 2007.
  6. ^ "Non-opposition to a notified concentration (Case COMP/M.4920 — Haniel/Schmidt-Ruthenbeck/Metro)". No. Document 32008M4920. Eur-Lex. 15 January 2009.
  7. ^ "Schmidt-Ruthenbeck family backs Metro CEO -magazine". Reuters. 18 September 2011.
  8. ^ "The Swiss-based family office of one of Europe's wealthiest families". Family Capital. 13 March 2019.
  9. ^ Storbeck, Olaf (21 January 2020). "Metro's family shareholders lift stake as Kretinsky circles". THE FINANCIAL TIMES LTD.
  10. ^ Banje, Sonja (7 October 2022). "Der rätselhafte Klimamilliardär". manager-Gruppe.
Stub icon

This German business-related biographical article is a stub. You can help Wikipedia by adding missing information.

Content Disclaimer

Informasi ini disarikan dari Wikipedia dan disajikan kembali untuk tujuan edukasi. Konten tersedia di bawah lisensi CC BY-SA 3.0. Kami tidak bertanggung jawab atas ketidakakuratan data yang bersumber dari kontribusi publik tersebut.

  1. The information displayed on this website is sourced in part or in whole from Wikipedia and has been adapted for the purpose of restating it. We strive to provide accurate and relevant information, however:
  2. There is no guarantee of absolute accuracy. Wikipedia is an open, collaborative project that can be edited by anyone, so information is subject to change.
  3. It is not intended to constitute professional advice. The content displayed is for informational and educational purposes only. For important decisions (e.g., medical, legal, or financial), please consult a professional.
  4. Content copyright. Wikipedia is licensed under the Creative Commons Attribution-ShareAlike License (CC BY-SA). This means that content may be reused with appropriate attribution and shared under a similar license.
  5. Responsible use. Any risk arising from the use of information from this website is entirely the responsibility of the user.