| Name: | Stephen Orenstein |
| Net Worth: | $2 billion |
| Source of Wealth: | Supreme Group |
| Born: | December 28, 1963 |
| Age: | |
| Country: | Germany/US |
| Wife: | Petra Ohrenstein |
| Children: | Unknown |
| Residence: | Corsica |
| Private Jet: | Unknown (pls send info) |
| Yacht | LIVA O |
Stephen Orenstein, born on December 28, 1963, in Frankfurt, is a German-American billionaire businessman and Principal of Supreme Group, an overseas supplier of food and fuel that notably supplied U.S. Army military personnel in Afghanistan. Founded by his father, Alfred Orenstein, the company has grown to become a significant player in its industry. Stephen Orenstein currently owns 75% of Supreme Group and oversees its day-to-day operations. As of October 2013, his net worth was estimated at US$1.1bn according to the Bloomberg Billionaires Index.
Stephen Orenstein’s journey to becoming a billionaire began with his education at Kimball Union Academy high school in New Hampshire, followed by enrolling at Lehigh University in Pennsylvania to obtain a medical degree. However, in 1985, Orenstein dropped out of college after three years of studies to return to Frankfurt following the death of his father, Alfred Orenstein, who had founded Supreme Group in 1957. Alfred Orenstein had consistently supplied U.S. bases in Germany with food and supplies following his departure from the U.S. Army that same year. Stephen Orenstein joined Supreme Group as part of the sales division in 1985.
During the peak of the Afghanistan war in 2011, Supreme Group had $5.6 billion in revenues, with $1.66 billion paid out to owners as dividends. However, in 2014, two of its subsidiaries, Supreme Foodservice GmbH and Supreme Foodservice FZE, admitted to defrauding the U.S. government while supplying troops in Afghanistan.
They agreed to pay $434 million in penalties and compensation to avoid prosecution. This commitment included keeping its owners away from managing Pentagon contracts for five years, with the military business being handled only by the group’s U.S. subsidiary and supervised by the Justice Department. The fraud began when the Pentagon transferred the supply of provisions to private companies to save money, and Supreme Group obtained part of the business. Its subsidiaries inflated costs and manipulated prices to increase profits, a scheme that was eventually uncovered by a whistleblower.
To avoid prosecution, Stephen Orenstein set up a shell company for the purchase of fresh vegetables, milk, and bakery products. Acting as his own middleman, he manipulated the price upward, for example, charging a surcharge of 30% for each can of Coca-Cola.
Since 2018, Orenstein has been a member of the Eintracht Frankfurt football club supervisory board.
Orenstein has been married to Petra Orenstein, née Schweikart, since 1997. They married in New York City, and his hobbies include football, tennis, and diving. He is also a benefactor of the Frankfurt Museum of Modern Art.
Petra Orenstein owns Cara Investment, a Frankfurt-based family office with a large real estate holding. The family office purchased various assets in London for £71m in February 2020 and for $93 million in July 2020. It holds multiple properties in Frankfurt and is involved in real estate development projects in Europe and the United States. In the same year, the family office sold a tower building in Frankfurt for an alleged amount of €300m.
When using the information from this article, please remember to give credit to SuperYachtFan. Our team works hard to provide accurate and engaging content for our readers, and we appreciate your support.
Although Stephen and his wife Petra formally live in Dubai, UAE, they also own a large estate on the French Island of Corsica. Further we found two apartment block in Paris, France. We believe the family also owns houses in London and New York.
Corsica, a picturesque island in the Mediterranean Sea, is a region of France that boasts a stunning natural landscape. Known as the “Island of Beauty,” it is renowned for its rugged mountains, dense forests, and pristine beaches that attract visitors from around the globe. Despite being a part of France, Corsica has its own distinct culture, language, and traditions, which have been influenced by a variety of civilizations, including the Romans, Greeks, and Genoese.
The island is famous for its delicious cuisine, which includes local specialties like charcuterie, cheese, and wine. Adventure seekers will find plenty to do in Corsica, from hiking the famous GR 20 trail, which crosses the island from north to south, to windsurfing and scuba diving in the crystal-clear waters of the Mediterranean. History enthusiasts will also appreciate the many historical sites scattered throughout the island, including prehistoric megaliths, medieval churches, and Genoese towers.
Corsica is also the birthplace of Napoleon Bonaparte, and visitors can tour his childhood home in the capital city of Ajaccio. Despite its popularity as a tourist destination, Corsica has managed to retain its unspoiled natural beauty and relaxed way of life. Whether you’re looking for outdoor adventure, historical exploration, or simply a chance to relax and enjoy the breathtaking scenery, Corsica offers something for everyone.
He is the owner of the yacht LIVA O, built as Project Celerius in 2023.
The LIVA O Yacht is the largest and most luxurious yacht ever built by Abeking & Rasmussen, designed by Joseph Dirand Architecture.
The yacht features a sleek black hull, white superstructure, expansive pool on the aft deck, and a cutting-edge hybrid drive system powered by MTU engines.
It offers accommodations for up to 16 guests and a crew of 25, and has an innovative Neptune lounge with a large underwater window.
(Photos by Planespotters.net ; flightaware.com; flickr.com; picssr.com; planefinder.net ) Do you want us to remove a certain photo? Or credit a source? Please send us a message
We assume that he also owns a business jet. But we have not been able to identify an aircraft owned by him or his company.
Do you know more? Please do send us a message.
(Photos by Planespotters.net ; flightaware.com; flickr.com; picssr.com; planefinder.net ) Do you want us to remove a certain photo? Or credit a source? Please send us a message
Yacht Owners Database 2024
