His daughter Margaret (1864-1904) married General Reinhard Gottlob Georg Heinrich Freiherr von Scheffer-Boyadel, who was knighted in 1890.
Riebeck eventually left school to begin working in 1835 as a pit boy and later as Lehrhäuer in Harzgerode's Albertine ironstone mine.
Riebeck borrowed money to invest in the upgrade of coal technology as well as distillation units for the production of paraffin, mineral oil and tar.
The petroleum factories of Gosserau, Webau, Reußen bei Theißen and Oberröblingen became the foundation of Riebeck's empire.
Within a few years, Riebeck acquired refining plants and briquette factories in Hall, Schwelereien, Whiterock and Bitterfeld.