Michael and Rainer Schmidt-Ruthenbeck Co-owners of the largest company 'Metro Group' Country: Germany

Biography of Rainer and Michael Schmidt-Ruthenbeck

Rainer and Michael Schmidt-Ruthenbeck are well-known billionaire brothers and co-owners of the largest company, Metro Group. They not only own a part of the company but also have ventured into the hotel business. They are the owners of eleven luxury hotels and resorts located along the Baltic coast of Germany and in Austria.

Their success in the business world has earned them recognition from Forbes, a globally renowned publication. Rainer and Michael Schmidt-Ruthenbeck have been featured multiple times in Forbes' list of the world's richest people. However, they are not just successful entrepreneurs; they are also known for their philanthropy and the creation of foundations.

One of their notable foundations is the Mercator Foundation, which actively supports children from immigrant families in Germany by helping them learn the language and providing various forms of assistance.

The Metro Group, in which the brothers play an active role, was established in 1996 through the merger of several organizations, namely Metro Cash & Carry, Asko Deutsche Kaufhaus AG, and Kaufhof Holding AG. The history of this significant merger can be traced back to 1964 when Professor Otto Beisheim founded Metro Cash & Carry. Three years later, in 1967, a new partnership was formed that involved the Schmidt-Ruthenbeck family.

Since then, the company has been operating efficiently and successfully with a wide array of stores, hypermarkets, supermarkets, and shopping centers. Its operations have expanded far beyond Germany, with some of its trading areas reaching up to 10,000 square meters.

The success of the company is attributed to its strategic approach, focused on profitable growth and the consistent and long-term increase in the company's value. Metro Group's unique characteristic lies in its effective operations across various relevant trade segments in different countries. This is achieved by taking into account the cultural peculiarities and needs of foreign markets.

Furthermore, the company constantly undergoes modernization processes to enhance customer service and improve the efficiency of production processes. The integration and utilization of innovative technologies in the retail sector consistently attract a larger customer base and meet the justified expectations of clients.