Bloomberg Billionaires Index

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# 393 Axel Oberwelland $5.65B

Random fact: Started Stork Foundation to preserve Germany's endangered storks.


Oberwelland is an owner and general partner of August Storck, a German candy manufacturer. The Berlin-based confectioner has brands that include Werther's Original, Nimm2 and Toffifee. The closely held company sells its products in more than 100 countries and had revenue of about 2.7 billion euros ($3.2 billion) in 2018.

As of :
Last change +$26.0M ( +0.5%)
YTD change +$396M ( +7.5%)
Industry Food & Beverage
Biggest asset August Storck
Citizenship Germany
Age 54
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Axel Oberwelland's net worth of $5.65B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Oberwelland's fortune is derived from his control of closely held confectionery August Storck. The Berlin-based company is owned by the Oberwelland family, according to the Orbis company database, and Axel is attributed full ownership in this analysis to reflect his control of the company.

August Storck had revenue of 2.7 billion euros ($3.2 billion) in 2018, according to German magazine CIO, and its valuation is based on the average enterprise value-to-sales multiple of four publicly traded peer companies: Nestle, Barry Callebaut, and Meiji Holdings. It sells to more than 100 countries, according to its website. The revenue figure used in the analysis was updated on March 6, 2020 and this led to an increase in the calculation of about $400 million.

Bernd Roessler, a spokesman for August Storck, declined to comment on the company's financials or the net worth calculation.


Birthdate: 8/1/1966
Family: Married, 4 children

Axel Oberwelland was born in Bielefeld, Germany, in 1966. Six decades earlier his great-grandfather founded a confectionery business, which would become the basis of the family fortune.

Oberwelland attended high school in Bielefeld and boarding school near St. Moritz, Switzerland, later studying business at the University of St. Gallen, Switzerland.

He began working in the advertising division of his family's candy business in Hamburg in 1995, before being promoted to marketing manager for August Storck in the U.S. He succeeded his father, Klaus Oberwelland, as general partner of the candy company in 2003, and inherited the business when his father died two years later.

The billionaire is married to Bergit Oberwelland. The couple lives in Berlin and has four children.

  • 1903 Great-grandfather starts confectionery factory in Germany.
  • 1921 Second generation of Oberwellands takes control of the business.
  • 1954 Storck begins producing chocolates.
  • 1966 Born in Bielefeld, Germany. Father, Klaus Oberwelland, runs family company.
  • 1971 Third generation of Oberwellands takes control of the business.
  • 1995 Starts working in advertising division of family's candy business in Hamburg.
  • 1998 Management base is moved to Berlin.
  • 2003 Succeeds father as general partner of August Storck.