Hans Riegel, a German-born entrepreneur, was worth $2.9 billion.
Hans Riegel, the billionaire behind Gummy Bear, has amassed his wealth through his ownership and leadership of Haribo confectionery.
The name is an abbreviation for Hans Riegel, Bonn.
Born in Bonn, Germany on March 10, 1923, Johannes Peter Riegel was the eldest son of Hans Riegel, the founder of the gummy bear company.
Since its inception in 1922, the company has expanded by acquiring the services of numerous local sweet manufacturers across the globe.
Despite the difficult economic conditions in Europe and the unfortunate political events, the business thrived. Haribo, a major producer of gummy and jelly sweets, is credited with inventing more than 200 products, including Gummy Bears, Vademecum sugar-free gum, and Maoam fruit chewies, as well as jelly sweets and liquorice.
Following World War II, Hans Riegel and his brother Paul reestablished the company and managed it together until Paul’s passing in 2009.
The business was owned by each of the brothers who held a 50% stake in it.
The company is now in the possession of Paul and his heirs after Hans’ death, as he was single and had no offspring.
Hans Guido Riegel, Paul’s son, manages production and technical matters, while his two other sons, Hans Juergen Riegel and Hans Arndt Riegel, serve on the supervisory board.