Bloomberg Billionaires Index

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#256 Alexander Otto $6.24B

Random fact: Father opposed Nazi regime and was imprisoned in Berlin before WWII.


Otto is chief executive officer of ECE, a closely held manager of about 200 shopping centers. He owns the Hamburg-based business, and two North American property management companies, with his mother and sister. ECE operates in 14 countries and its shopping centres house more than 21,000 retail businesses.

As of July 26, 2017:
Last change +$41.5M (+0.7%)
YTD change +$461M (+8.0%)
Industry Real Estate
Biggest asset ECE Projektmanagement
Citizenship Germany
Age 50
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Alexander Otto's net worth of $6.24B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Otto's biggest asset is ECE Projektmanagement, a Hamburg-based real estate company. He controls this and Toronto-based Park Property Management through his 60 percent stake in Hamburg-based holding company Kommanditgesellschaft Cura Vermoegensverwaltung. ECE operates in 14 countries and manages about 200 shopping centers with more than 21,000 retail businesses, according to the company website.

ECE is valued using a price-to-assets under management multiple of peer company Patrizia. The value of Park Property is calculated based on average occupancy rates, revenue, and cap rates according to research service Colliers.

The billionaire also owns 20.8 percent of closely held retail, financial services and logistics conglomerate Otto Group. He holds his stake through Hamburg-based Kommanditgesellschaft Atlas Vermoegensverwaltung, according to Orbis, a Bureau Van Djik research service. Otto Group had revenue of 12.5 billion euros ($13.8 billion) and Ebitda of 730 million euros ($803 million) in the year ended Feb. 28, 2017, according to its annual report. The valuation was updated on June 15, 2017 to reflect these financials, which led to an increase in the net wealth calculation.

The value of his cash investments reflect the equity once held in properties the Ottos sold to Paramount, as well as the family's holdings as of July 2012, which were provided by the person familiar with their fortune. The billionaire's share of these holdings is calculated using his stake in the family holding company.

Otto owns 11.7 percent of DDR Corp, according to a Form 4 filing dated Dec. 27, 2016. He also holds a 6 percent stake in another U.S. real estate company Paramount Group, according to its 2016 proxy statement, and a 16.4 percent stake of Deutsche EuroShop, according to its website.

Robert Haegelen, a spokesman for Otto Group, declined to comment on the net worth calculation.


Birthdate: 7/7/1967
Family: Unknown, No children
Education: 1994, MBA, Harvard Business School 1990, Bachelor's Degree, President & Fellows of Harvard College

Alexander Otto was born in Hamburg to Maren and Werner Otto, the founder of the Otto Group, one of the world's largest mail-order companies. After finishing high school in Oxford, he received a bachelor's degree from Harvard University and an MBA from Harvard Business School.

Otto started working at the family's closely held real estate business, ECE Projektmanagement in 1994, which today operates in 14 countries and attracts 4.4 million customers to its 196 shopping centers every day, according to its website. He was appointed the company's CEO in 2000, and also serves on the board of the Otto Group.

  • 1949 Father opens namesake retail business in a Hamburg factory.
  • 1967 Born in Hamburg to Maren and Werner Otto, the founder of the Otto Group.
  • 1981 Half-brother, Michael, takes control of Otto Group as chairman and CEO.
  • 1994 Starts working at closely held real estate business ECE Projektmanagement.
  • 1994 Receives MBA from Harvard University.
  • 2000 Appointed ECE's CEO; oversees almost 65 million square feet of shopping malls.
  • 2011 Father dies in Berlin at age 102.
  • 2015 Backs Hamburg's unsuccessful bid for the 2024 Olympics.