Alexander Otto is a German business manager and founder. He is the chief executive officer of ECE and a closely held manager of about 200 shopping centers. He is the owner of Hamburg-based business and two of American property management companies. This article is all about Alexander Otto net worth 2019 and sources of his income.
|Net Worth 2019||$10.7B|
Alexander Otto Net Worth 2019
The German business manager Alexander Otto’s net worth 2019 is $1,070 crores USD. Real Estate is the major and the most important source of his wealth. He became a shareholder of publicly-traded Deutsche EuroShop by investing heavily in shopping centers in 2001. He owns a stake in Otto Group and is majority shareholder and CEO of ECE Group, a commercial real estate firm focused on shopping centers.
Alexander Otto Wiki
Alexander Otto was born on 7th July 1967 in Hamburg. He is the youngest son of Hamburger Versandhaus founder Werner Otto and his third wife Maren.
The empire was started by founding a mail-order business in Hamburg in 1949 by his late father, Werner Otto. Otto group has more than 40 companies in retail including Crate and Barrel, real estate, and financial services. The revenues of all exceed $15 billion. His Paramount Group which owns and manages office properties in the U.S includes his stepmother Maren’s and her daughter Katharina’s 15% stake share with him.
Otto is also a member of the Supervisory Board of the Otto Group, whose chairman is his half-brother Michael Otto. He is also a member of the supervisory boards of Deutsche EuroShop AG, Sonae Sierra Brasil SA of São Paulo/Brazil and DDR Corp in Cleveland/USA and on the Advisory Board of Peek & Cloppenburg KG Düsseldorf.
Otto served as a Chairman of the Advisory Board of the Urban Land Institute (ULI) Europe and chaired the International Council of Shopping Centers (ICSC) Europe until October 2015. He is Chairman of the Board of Trustees of the Living City Foundation, which is largely supported by ECE. In 2006 he opened the self-named Alexander Otto Sports Foundation, whose goal is the sustainable promotion of grassroots sports, but also of competitive sports in his hometown of Hamburg, and who was responsible for the construction and operation of Volksbank Arena, which opened in late 2008. In 2011 he founded the Dorit & Alexander Otto Foundation with his wife Dorit. In particular, the foundation supports medical and cultural projects, including the extensive modernization of the Hamburger Kunsthalle.
Alexander Otto Awards
- Federal Cross of Merit on ribbon-2011
- Entrepreneur Award of the Business Club Aachen Maastricht-2015
- Appointment as honorary lockkeeper together with his wife Dorit-2016
- DOSB Prize Pro Volunteer-2018