The Straits Times
Published on Feb 18, 2013

Billionaire founder of German retail giant Metro dead at 89


BERLIN (AFP) - Otto Beisheim, billionaire founder of retail giant Metro and one of Germany's richest people, died Monday aged 89, the firm said, reportedly taking his life due to an incurable illness.

"He was suffering from an incurable disease and departed this life due to the hopelessness of his health situation," said a statement from the Otto Beisheim group.

Mass circulation daily Bild said he committed suicide. Founder of Metro Group, which now comprises 2,200 retail outlets in 32 countries in Europe, Asia and Africa, Mr Beisheim amassed a fortune estimated by Forbes in its 2012 billionaires list at US$3.3 billion (S$4.08 billion).

According to Forbes, he was the 344th richest person in the world and the 22nd wealthiest person in Germany.