Michael Otto - Definition and Overview

Michael Otto (1944-) is the head of Otto GmbH, the world's largest mail-order company, with $24 billion in sales last year. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com. Business hasn't fared as well at their venerable Spiegel Co., which filed for bankruptcy last March.

Otto and his family own extensive real estate in Canada and the U.S., shopping centers in Germany and part of home-furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.

See also

• List of billionaires

External links

• Forbes.com: Forbes World's Richest People (http://www.forbes.com/finance/lists/10/2004/LIR.jhtml?passListId=10&passYear=2004&passListType=Person&uniqueId=KRMM&datatype=Person)
• Willkommen bei www.otto.com (http://www.otto.com/)