What is Reinhold Schmieding's Net Worth?

Reinhold Schmieding is an American businessman who has a net worth of $3.5 billion. Mr. Schmieding entered the billionaire rankings earlier this year on the back of the strong performance of his orthopedic medical device company, Arthrex. The Naples-based company, which generates $1.4 billion (revenues), is said to make 7,500 products for shoulder, knee and other joint operations.

Even though the son of a dentist, he didn't go to medical school (as he was expected), but instead turned his focus to engineering and business. Shortly after he got the idea to produce tools for the growing field of minimally invasive arthroscopic surgery, he bought a $50 drafting table and started sketching the tools at night. Today, he is the majority shareholder in the privately-held company that manufactures 94% of its products in the States.

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