By Euro Weekly News Media • 20 February 2013 • 9:45
THE German owner of Media Markt has committed suicide in his home in Bavaria, southern Germany.
The 89 year multi-millionaire, Otto Beisheim, was suffering from an incurable disease and took his own life in desperation according to an official spokesperson for the family. The businessman was one of the richest people in German thanks to his idea to bring the ‘Cash and Carry’ to Germany. He was the owner or co-owner of firms such as Media Markt, Makro, Saturn, Real amd Kaufhof, and was co-founder of the Metro consortium.
His personal life was not exempt from controversy as he had been a member of Adolf Hitler’s personal guard the SS. He created various foundations to pay less taxes and acquired Swiss nationality to lessen his contributions to the German tax office.
His wife died in 1999 and they had no children. His fortune will be distributed between different foundations.
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