August Oetker Net Worth
August Oetker Net Worth: August Oetker is a German billionaire who has a net worth of $1.7 billion. August Oetker secured a place among world's billionaires as a one of the heirs to the Oekter fortune that was built on baking and pudding powder. Dr. Oetker, which has broadly diversified over the years, is a limited partnership whose subsidiaries have around 26,000 employees and generate approximately $15 billion in annual revenue. Set up in 1891 by pharmacist August Oetker, the company made its beginnings selling non-perishable baking powder. August left Dr. Oetker's helm to his grandson Rudolf August Oetker, who became a driving force behind one of Germany's most recognizable brands. From the family history "Die Oetkers", it was concluded that Dr. Oetker produced over 750 million packages of baking and pudding powder in 1950. The company has expanded further adding a great variety of food products and even beverages, as well as container shipping, financial services and luxury hotels. August, who entered the billionaires' rankings in 1987, served as a general partner of Dr. Oetker and chairman of the executive board of the conglomerate's food division, Dr. Oetker GmbH from 1981 to 2009. Just as the other seven heirs to the family fortune, he did receive his 12.5% percent of the Bielefeld-based Dr. Oetker in 2007 when Rudolf August Oetker died. While the rivalry between the heirs lingers, August Oetker continues to serve as advisory board chairman, a post that he landed in 2010.