World's Richest Men - RichestMen.net

Twentieth Spot: Michael Otto

Michael Otto (born 12 April 1943, in Chełmno (Kulm) in the Nazi occupied Poland), is the head of German Otto Group, the world's largest mail order company, with $24 billion in sales in fiscal year 2003. Thanks to a 30% rise in Internet sales last year (2008), Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com.

Fortune	Business	Country	Status
13.2 Billion	Retail	Germany	Married, 2 children

Michael Otto retired at the end of 2007 as head of the Otto Group, the world’s largest mail-order company, started by his father in 1949.

Otto and his family own extensive real estate in Canada and in the United States, shopping centers in Germany and part of home-furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.

The Otto Group has long touted environmentally safe products and practices. As far back as 1995 it was launching environmentally-friendly products. In 1992 Otto banned chemicals in lacquer, paints and fibres from its product ranges, as well as fur products and goods made of tropical wood. Otto also supports a foundation that funds preservation of the River Elbe. (wiki)

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