Alfred Oetker Net Worth

What is Alfred Oetker's Net Worth?

Alfred Oetker is a German entrepreneur who has a net worth of $1.7 billion. Alfred Oetker belongs to the family that built Dr. Oetker, one of the world's most popular brands when it comes to production of pudding and baking powder. The company, which is now broadly diversified, holds manifold subsidiaries that employ some 26,000 people and generate annual revenue of around $15 billion. The basis of this successful business was set back in 1891, when its founder August Oetker, a pharmacist by trade, started selling non-perishable baking powder. After the World War II, Dr. Oetker fell in the hands of August's grandson, Rudolf August Oetker, who established himself as the driving force behind one of the leading brands Germany has ever produced. From recordings of the family history "Die Oetkers", it is learned that the company produced 750 million packages of baking and pudding powder in 1950. Ever since, Dr. Oetker has expanded by adding other food products and even beverages, as well as spread in such areas as container shipping, financial services and luxury hotels.

When Alfred Oetker, the Chairman of the Dr. Oetker's advisory board, died in 2007, he left behind eight children from three marriages. As one of the eight billionaire beneficiaries, he did receive his fair portion of the family fortune, which was equally divided. But getting 12.5% percent of Dr. Oetker didn't make the heirs happy. Split in two groups, the rivalry continues between the children from Rudolf 's first two marriages – Rosely Schweizer, August, Christian and Richard Oetker and Bergit Gräfin Douglas – and the children from his third marriage: Alfred, Carl Ferdinand and Julia Oetker. The clash between Oetker's heirs is expected to boom in 2017, when current leader when Richard Oetker intends to retire. Alfred, who speaks six languages, has two sons with his wife Princess Elvira Grimaldi.