Who is missing Gold’s Gym millionaire, Rainer Schaller?About His Net Worth, Success And Death
From humble beginnings in his mother’s grocery store in the small German town of Bamberg, Rainer Schaller has built a fitness empire and a $250 million fortune from scratch.
Why Is Rainer Schaller Famous?
The 53-year-old CEO made headlines after the massive Love Parade crash with a whopping $100 million acquisition of Dallas-based Gold’s Gym after filing for bankruptcy due to Covid-19 German fitness mogul Reiner Schaller, 53, was feared dead along with his family after his private plane crashed in Costa Rica on October 21.
As reported by CNN, Costa Rica’s Ministry of Public Security shared the tragic news on Facebook that a flight from Mexico to Limon, Costa Rica lost contact with air traffic control. , is on a flight list obtained by CNN and is believed not to have survived the plane crash.
Reiner Schaller Global Group, the company that bears Schaller’s name and is known as RSG Group, also did not confirm his death but confirmed the news in a release: “His family and two others crashed. “We are shocked, stunned, and saddened by this tragic accident. , with the family during this difficult time.”
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Early Life
The German entrepreneur was born in Bamberg, western Germany, and grew up with his parents. His grandfather and mother worked in retail, while his older brother Gerd Schaller was a renowned conductor in Germany.
Schaller dropped out of high school and trained as a retail clerk at his mother’s grocery store called Edeka, according to Trend News Detail.A decade later, he took over the management of four Edeka stores and entered the fitness industry.
He owes his entrepreneurial spirit to his younger brother. According to Trend News Detail, in an interview with the German business newspaper Handelsblatt,
Schaller said he didn’t do well in school, and that his brother was a top student, so healthy competition shaped his personality and made him a better person. said it helped create the name of Schaller the founder and CEO of his RSG Group, ranked number one in the fitness industry worldwide.
How It All Started
In 1997, he opened his first gym, McFit, in Würzburg, Germany. Today McFit is known as Germany’s largest fitness chain, and in the country alone he has over 200 fitness studios, with centers in Austria, Italy, Poland, and Spain. As per DW, he has over 1.4 million members.
In 2019, Schaller renamed McFit Global Group to RSG Group, expanding to 12 fitness chains with brands such as John Reed, High 5, Cyberobics, Qi², Loox, McFit Models, Tigerpool, and The Mirai. He told Spa Business about the group’s decision to rebrand. “Fitness and sports are in our DNA.
But in recent years, McFit Global Group has expanded its 360-degree expansion into client-centric, related areas of design, lifestyle, art, fashion, and architecture, and its portfolio have expanded to include his We have expanded to 12 brands.”
The US$100 million Gold’s Gym deal
In 2020, through the RSG Group, Schaller acquired Dallas-based Gold’s Gym for a whopping $100 million after it filed for Covid-19 bankruptcy that same year, according to Business Journal. “With the acquisition of Gold’s Gym, I am starting a legacy that I hold the utmost respect for. Our goal is to focus on Gold’s Gym’s core values and find the right balance between staying true to our roots and evolving the brand,” Schaller said in a statement at the time.
The Love Parade scandal
However, Schaller didn’t always make headlines for the right reasons. In 2010, the dance music festival Love Parade, organized by his company Lopavent, went up in flames after 21 of him died in a stampede. According to DW, the tragic incident took place in a 240-meter-long tunnel in Duisburg in western Germany, resulting in hundreds of injuries.
His Us$250 Million Net Worth
His fitness empire and diverse portfolio make Schaller a wealthy man. As of 2022, Schaller’s net worth was around $250 million, according to British media. According to British media, Schaller was never married but had an affair with Christian Sikorsky, and the couple had two children, Aaron and Finja.