Axel Oberwelland – Billionaire

Axel Oberwelland is proprietor of the German candy company August Storck KG, whose brands include Werther’s Original, Riesen and Toffifee. When August Storck (also known as August Oberwelland) founded the business in the Westphalia town of Werther in 1903, sweets were typically sold unpackaged and without branding. He found success packaging them individually and marketing them under snappy names. Today, Storck employs over 5,000 people and its products are sold in more than 100 countries. Established in Chicago in 1975, Storck USA introduced Werther’s Original in 1981; within a few years it had become one of the top-selling hard candies in the U.S. — and still is. Werther’s Original brand has expanded to include Caramel Coffee, Creamy Caramel Filled, Caramel Apple Filled and Chewy Caramels, as well as sugar-free variations, which are more successful in the U.S. than in Europe. When Klaus Oberwelland retired on the occasion of Storck’s 100th anniversary, in June 2003, son Axel became the fourth generation of his family to lead the highly secretive company (estimated revenue: $2.2 billion, of which more than half come from outside Germany). He has expanded into Eastern Europe while also increasing sales in more established markets in Western Europe. In 1992, Klaus Oberwelland established the Stork Foundation to preserve endangered stork populations.

Source:forbes