What is Wolfgang Reimann's Net Worth?
Wolfgang Reimann is a German entrepreneur who has a net worth of $3.5 billion. Belonging to one of the wealthiest families in Germany, Wolfgang Reimann's fortune is closely related to such brands as Calvin Klein fragrances, Durex condoms, Jimmy Choo shoes and Peet's coffee, among others. Actually, he came into riches in a quite interesting way. A descendant of chemist Ludwig Reimann, who joined Johann Adam Benckiser in the chemical business in1928, Wolfgang Reimann strengthened the connection with Benckiser by becoming his son-in-law. Shortly after marrying one of his daughters, he entered the business and wounded up owning it. Initially, it was Albert Reimann Jr. that took the reins after Benckiser died in 1952. But upon Albert's death in 1984, Wolfgang and eight other heirs each inherited 11.1% of Investmentholding Joh.
A. Benckiser s.à.r.l (JAB), based in Ludwigshafen, Germany. Since five of the heirs divested their shares, Wolfgang and three of his siblings were left now sharing a 95% interest in the company. Ever since, JAB has been constantly investing in luxury goods as well as coffee and tea. One of its most notable acquisitions is perfume maker Coty Inc., which JAB acquired in 1992 and still owns 70% in the company after its IPO in June 2013. Even though JAB is the source of their fortune, neither Wolfgang Reimann nor any of his siblings are active in the day-to-day management of JAB or the operations of its portfolio companies.
