The band's musical style takes cues from the 1980s New Romanticism and new wave, usually considered synthpop or darkwave.

The band was founded in 1987 by Markus Reinhardt and Pompejo Ricciardi and was named after Meyer Wolfsheim, a fictional character from F. Scott Fitzgerald's novel The Great Gatsby.

The follow-up Popkiller (1993) reached the German Media Control Charts, albeit at a low position.

In February 1995, Wolfsheim released the compilation album 55578, comprising many tracks previously featured on singles, as well as some unreleased material.

The first 55,578 copies were special editions that contained a bonus disk with material recorded at the Strange Ways Festival.

His increased popularity also boosted Wolfsheim's success; their album Spectators, released in February 1999, was the first to reach the top-10 in Germany, at number two.

In anticipation of a forthcoming album, Wolfsheim released the live DVD Kompendium on 16 April 2002, containing a recording from the Spectators tour, an interview, and various music videos.

In March 2003, the release of Casting Shadows instantly sent it to the top spot in the German album charts and reached platinum status.