Hidden Billionaires Emerge With Retail Fortune in Germany

Four members of Germany’s Otto family, which controls Otto GmbH & Co KG, owner of the Crate & Barrel and bonprix retail chains, have surfaced as billionaires, based on a review of German regulatory filings.

Benjamin Otto, 38, holds 12.5 percent of the business, which is also known as the Otto Group, making him one of the country’s youngest billionaires. He’s the son of Michael Otto, the 70-year-old chairman of the conglomerate, who controls 78.5 percent of company. The two have a combined fortune of $10.6 billion, according to the Bloomberg Billionaires Index.