Bloomberg Billionaires Index

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# 396 Reinhold Schmieding $6.00B

Random fact: Moved Arthrex to Florida from Germany in 1991.

Overview

Schmieding is the founder and president of Arthrex, a closely held surgical device maker that develops orthopedic products and procedures for shoulders, knees and other joints. The Naples, Florida-based company has annual revenue of about $2.6 billion and has offices in Asia, Canada, Dubai, Europe and the Americas.

As of :
Last change -$98.8M ( -1.6%)
YTD change -$2.68B ( -30.9%)
Biggest asset Arthrex
Country / Region United States
Age 66
Industry Health Care
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Reinhold Schmieding's net worth of $6.00B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Schmieding is credited with all of closely held Arthrex based on his status as the company's sole founder and comments in his autobiography that he avoided taking venture capital or other financial investors. Arthrex products are used in more than 150 countries, according to its website.

It had annual revenue of $2.6 billion in 2020 and is valued using the average enterprise value-to-sales multiples of two peer companies: Smith & Nephew and ConMed. Arthrex doesn't disclose detailed financials.

Steve Doane, a spokesperson for Arthrex, didn't respond to requests for comment on the net worth calculation.

Biography

Birthdate:
Family: Unknown, No children

Reinhold Schmieding was born in Michigan to German parents who moved to the U.S. six months before he was born. He graduated from Michigan State University in 1977 before moving to Germany to work as a salesman for medical device supplier Richards Medical, according to a 2015 press release on Junior Achievement of Southwest Florida.

He started Arthrex in Munich in 1981, focusing on supplying local surgeons with orthopedic devices specializing in shoulder, knee, hip and small joint surgery. Two decades later he moved the company's headquarters to Naples, Florida. The company has developed more than 10,000 products and surgical procedures.

Milestones
  • 1977 Graduates from Michigan State University.
  • 1981 Founds Arthrex GmbH in Munich, Germany.
  • 1991 Relocates Arthrex to Naples, Florida from Germany.
  • 2006 Publishes autobiography, "Helping Surgeons Treat Their Patients Better."
  • 2013 Opens manufacturing facility in Florida.
  • 2015 Court upholds $85 million damage award against Arthrex for patent infringement.
  • 2015 Inducted into Collier County's Business Hall of Fame.
  • 2016 U.S. Supreme Court rejects Arthrex appeal on infringement payment.