What is Erich Kellerhals' Net Worth?
Erich Kellerhals is a German entrepreneur who has a net worth of $4 billion. A newcomer to the billionaires' circles, Mr. Kellerhals is one of the founders of the electronics retail giant Media Saturn GmbH. Based in Ingolstadt, Erich Kellerhals teamed up with two partners to set up the company in 1979. Two years later, the trio sold the bulk of their stake to Kaufhof, which later fused with retail giant Metro. In January 2013, Metro bought the rest 3% owned by one of Kellerhals' co-founders for about $310 million.
At the time, the entire company was valued at around $10.5 billion (7.7 billion euros). Thus, the acquisition made Metro's share in the company jump to more than 78%. However, Metro and Kellerhals have maintained a strained relationship. Kellerhals even took part of a court battle over a conflict regarding the company's governance. The output was Metro prevailing in court, while Kellerhals has held onto his almost 22% stake.
