Who is Michael Otto and What is His Net Worth?
Michael Otto is a German businessman with a net worth of $16 billion. He is the head of Otto Group, the world’s largest mail order company, and the second largest online retailer after Amazon.com. His company previously owned Spiegel, Inc., which filed for bankruptcy in 2003 and was later born out of Eddie Bauer Holdings. Otto’s family also owns real estate across the United States and Canada, as well as the shopping center chain Crate & Barrel.
Aside from his business ventures, Otto is known for his interest in environmentally-friendly ventures. He founded the Michael Otto Foundation in 1993 to help multi-million dollar companies invest in environmentally-friendly issues. Otto has earned two doctorate degrees from the University of Hamburg and the University of Munich. He is married and has two children.