Kevin Lehmann, the 18-year-old German teenager who made headlines as one of the youngest billionaires in the world, inherited half of a substantial fortune through his father’s transfer of a significant stake in Germany’s leading pharmacy chain, DM (drogerie markt). According to ‘Forbes’, DM generates over $14 billion in annual revenue, solidifying its status as a major player in the industry.
The history of DM dates back to 1973 when Goetz Werner opened the first store in Karlsruhe, Germany. Since then, the chain has experienced unparalleled growth, with approximately 3,700 locations nationwide. DM also operates in 12 other countries, with a strong presence in Austria, Hungary, the Czech Republic, Slovakia, and Croatia. The chain boasts a workforce of 62,600 employees across its stores and distribution centers.
The connection between the Lehmann family and DM began in 1974 when Kevin’s father, Guenther Lehmann, invested in the chain while managing the family’s Pfannkuch supermarket chain. In 2017, Guenther transferred his 50% stake in DM to his son, Kevin, who at the time was only 14 years old. Upon reaching adulthood, Kevin inherited his father’s share of the fortune, propelling him onto the list of the world‘s youngest billionaires.
Despite their ownership stake, neither Kevin nor his father are actively involved in the day-to-day operations of DM. This hands-off approach has allowed the Lehmanns to maintain a low profile in relation to the company and its activities.
Kevin Lehmann’s rapid rise to billionaire status serves as a testament to the success of DM and the family’s savvy investments. As one of the youngest billionaires in the world, Kevin’s story continues to captivate audiences and inspire aspiring entrepreneurs globally.