Porsches drop from Germany’s Top 10 richest people image

The Porsche family dropped from the list of Germany’s 10 richest people, which as in previous years is topped by Karl and Theo Albrecht, the brothers who founded discount retailer Aldi Group, Manager Magazin reported.

The Porsche clan lost 11 billion euros ($16 billion), or 71 percent of its wealth, as part of an attempt to take over Volkswagen AG, the German magazine said in its latest survey on the 300 richest Germans today. The Porsches, with an estimated fortune of 4.5 billion euros, dropped to 13th from No. 3.

Karl Albrecht is the wealthiest man in Germany with an estimated fortune of 17.35 billion euros, followed by his brother Theo with 16.75 billion euros, according to the list. In total, the fortune of the 100 wealthiest Germans declined by 12 percent to 285.6 billion euros over the past year, Manager Magazin said.

Maria-Elisabeth Schaeffler, who owns ball-bearing maker Schaeffler Group, which is trying to take control of Continental AG, lost 92 percent of her money and slipped to 260th from 15th. Madeleine Schickedanz, once a billionaire and the main shareholder in insolvent German retailer Arcandor AG, dropped from the list altogether.

Manager Magazin said this is the ninth year that it has published the list. It did not say how the rankings are calculated.

Following is a table of Germany’s 10 richest people. All figures are in billions of euros:

Name Company Fortune

1. Albrecht, Karl Aldi Group 17.35
2. Albrecht, Theo Aldi Group 16.75
3. Schwarz, Dieter Schwarz Group 10.0
4. Otto Family Otto Group 8.15
5. Reimann Family Joh. A. Benckiser SE 7.15
6. Klatten, Susanne BMW AG, Altana AG 7.00
7. Reinhold Wuerth Family Wuerth Group 6.8
8. Oetker Family Oetker Group 6.35
9. Herz, Guenter and Mayfair-Holding 6.0
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10.Braun Family B. Braun Melsungen 5.1