Bloomberg Billionaires Index

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#217 Heinrich Deichmann $7.35B

Random fact: Studied theology, philosophy and history at Cologne University.

Overview

Deichmann is chairman and chief executive officer of Deichmann Group, Europe's largest shoe retailer. The Essen, Germany-based company sold 173 million pairs of shoes in more than 3,800 stores and had revenue of 5.6 billion euros ($6.2 billion) in 2016. He inherited the business after the death of his father in 2014.

As of Oct. 17, 2017:
Last change -$63.3M (-0.8%)
YTD change +$820M (+12.6%)
Industry Retail
Biggest asset Deichmann Group
Citizenship Germany
Age 54
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Heinrich Deichmann's net worth of $7.35B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Deichmann's fortune is derived from his control of the Deichmann Group. The Essen, Germany-based company had revenue of 5.6 billion euros ($6.2 billion) in 2016, according to its website. He inherited control of the business when his father, Heinz-Horst Deichmann, died in October 2014. The company's net sales -- revenue after the deduction of returns -- for 2016 of 4.8 billion euros and the average enterprise value-to-sales multiple of two publicly traded peer companies: Adidas and Asics. Deichmann Group is the largest footwear retailer in Europe based on turnover in 2015, according to the Retail-Index website.

No cash or investable assets are included in the calculation because of a lack of information on dividends paid by the closely held business.

Ulrich Effing, a spokesperson for Deichmann Group, declined to comment on the net wealth calculation.

Biography

Birthdate: 1962
Family: Married, 2 children
Education: University of Cologne

Deichmann was born in Essen, Germany, in 1962, to Heinz-Horst and Ruth Deichmann, the only son in a family of four siblings. Heinrich's grandfather started a shoe-selling business in Essen in 1913 with his grandmother. She took over the business after her husband was killed by the Nazis in 1940, and was succeeded by her only son 16 years later.

Heinrich's father built the company into the largest seller of shoes in Europe over the next 43 years. He entered the U.S. market with retail stores, Rack Room Shoes, in 1984, and Off Broadway, in 2002. Heinrich took over the CEO position in 1999. He graduated with a bachelor's degree in business administration from the University of Cologne in 1988, and started as a managing partner at Deichmann the following year. His father died on Oct. 2, 2014, leaving the business to Heinrich, who's married with two children.

Milestones
  • 1913 Grandfather Heinrich starts Deichmann, a shoe retailer, with wife.
  • 1926 Father is born in Essen, Germany, brother to four sisters.
  • 1940 Grandmother Julie takes over the business after grandfather is killed by Nazis.
  • 1956 Father takes over as CEO of the Deichmann Group.
  • 1962 Heinrich is born in Essen, Germany, brother to three sisters.
  • 1989 Starts at the Deichmann Group as managing partner.
  • 1999 Succeeds father as CEO of Deichmann Group.
  • 2014 Inherits business after father dies at age 88.