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.
About Axel Oberwelland
Axel Oberwelland is a businessman based in Germany who has an estimated net worth of $3.4 billion as of May 2015 according to Forbes. He was ranked 376th in the list of the World Billionaires. He earned his net worth after he inherited Storck GmbH, the German candy company, when his father died in 2005. The company is the maker of Werther’s Original, Riesen and Toffiffee brands.
Oberwelland is considered the fourth generation of the family to run the candy business. He is currently the CEO of the company and also manufactures house-brand chocolate for the German retailer Aldi. Aldi Sud is owned by billionaire Karl Albrecht. The firm does not disclose its revenues. However, in 2011, the industry watchers had estimated that it earned $2.1 billion or 1.6 billion Euros which is almost the same as the previous year. Half of the earnings were made outside the country. His net worth has increased by $1.1 billion since last year because of the overall rise in the market value of the candy industry.
Storck GmbH has also established a non-profit Storck Foundation which is dedicated to protecting the endangered stork population in Germany.
