August Oetker Net Worth

August Oetker’s net worth stands at $1.7 Billion

August Oetker Wiki Biography

Dr. August Oetker (January 6, 1862 – January 10, 1918) was born in Obernkirchen, Germany and died in Bielefeld, Germany. In 1891, he purchased the Aschoffsche pharmacy in Bielefeld and developed a baking agent to guarantee the success of the baking process. Oetker distributed his invention under the brand name Backin from 1893, which laid the foundation for the family-owned company, Oetker-Gruppe. This company still uses the same recipe to produce baking powder. In 1903, Oetker filed a patent for his Procedure for making long-lasting baking powder or ready-to-bake flour. Due to successful marketing, Oetker’s products sold well, and the old pharmacy soon became a thriving company. In 1900, Oetker established his first manufacturing plant and by 1906 had sold 50 million packages of Backin. Prior to Oetker, Justus von Liebig and his American student, Eben Horsford, had already discovered baking powder, but Oetker targeted mainly private households with his products whereas Horsford targeted bakeries. Oetker’s grandson Rudolf August Oetker later took over the company. The motto of the company is “Ein heller Kopf nimmt stets Oetker.” (“Bright minds always use Oetker.”)

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