Rank #817
Reinhold Schmieding
Net worth $5.2B
Medical devices · United States
- Born
- Jan 03, 1955
- Age
- 71
- Source
- Medical devices
- Residence
- Naples, Florida
- Citizenship
- United States
- Marital status
- Married
- Children
- 2
- Education
- Bachelor of Arts/Science, Michigan State University
Net worth over time
Biography
- Michigan native Reinhold Schmieding started Arthrex, an orthopedic surgical tools company, in 1981 in Munich, Germany.
- Arthrex is now headquartered in Naples, Florida and has developed over 13,000 products used in shoulder, hip and other orthopedic surgeries.
- Privately-held Arthrex has estimated revenues of $3.2 billion; Schmieding owns an estimated 95% of the company.
- Schmieding is the son of German immigrants who moved to the U.S. just before he was born. His father, a dentist, wanted him to be a doctor.
- The notoriously press-shy founder has kept his $50 drafting table where he designed his first operating instruments.
- The company logo, an "X" formed by a tiny arthroscope and a grasper, was originally sketched by Schmieding.
- Schmieding is an avid fisherman, and was recruited to Michigan State to play golf.