U lrich Mommert is a German billionaire whose fortune is derived from his family's ownership of Kauko, a company that controls the valve manufacturer Kludi. The company is a significant producer of kitchen and bathroom fittings, including faucets and shower systems. The family's business has been a long-standing player in the German manufacturing sector, known for its high-quality plumbing fixtures.

While the company is a successful industrial enterprise, a massive and transformative portion of the family's wealth came from a very different source. Ulrich Mommert's late wife, Ursula, was the daughter of Erivan Haub, the late patriarch of the Tengelmann Group, one of Germany's largest and most secretive retail empires. Upon Ursula's death, her share of the massive Tengelmann fortune was passed down to her children, significantly boosting the Mommert family's wealth. This inheritance from the Tengelmann retail empire is now the primary source of their billion-dollar status.