Dieter Schwarz is a renowned entrepreneur and owner of the Schwarz Gruppe, the company behind hypermarket chain Kaufland and supermarket chain Lidl. He ranks #46 on Forbes list of billionaires, with a worth of $20.9 billion.

Dieter Schwarz inherited a fruit wholesaling business from his father, Josef Schwarz, who co-founded the business in 1930. Dieter went on to open the first Lidl store in 1973, then became CEO in 1977 after the death of his father. He would go on to build Lidl into Germany’s second-biggest discount chain. Today, the Schwarz Gruppe operates 10,000 locations in 26 countries through its Lidl and Kaufland banners, with revenues of over $100 billion.

Known for his philanthropy, Dieter has donated hundreds of millions to charity along with setting up his own graduate school for law and business. The Dieter Schwarz Foundation supports education and daycare facilities, as well as science and research projects. Deieter has two daughters and resides in Heilbronn, Germany, with his wife Franziska, whom he has been married for 50 years. Deieter remains CEO and chairman of Lidl and Kaufland.