I.
A DIRTY BUSINESS
ON A THURSDAY AFTERNOON IN MID-NOVEMBER 2023, AN ELDERLY MAN WAS WALKING THROUGH HAMBURGâS OHLSDORF CEMETERY, THE WORLDâS FOURTH-LARGEST GRAVEYARD, TO VISIT THE BURIAL PLACE OF HIS FAVORITE SOCCER PLAYER WHEN HE NOTICED SOMETHING VERY WRONG. SOMEONE HAD SPRAYED âNAZI KAPITALâ (âNAZI FORTUNEâ) ON THE KUEHNE FAMILYâS TOMBSTONE, IN RED AND BLACK, WHILE THE CRYPTIC TERM âM-AKTIONâ WAS TAGGED ON ALFRED KUEHNEâS TOMBSTONE.
These werenât just any family tombs: The Kuehne dynasty is industrial royalty in Germany. Klaus-Michael Kuehne, the only child of Alfred and Mercedes Kuehne, is the countryâs wealthiest person, with a fortune estimated at $44 billion, according to the Bloomberg Billionaires Index. The 87-year-old billionaire owes his fortune to Kuehne + Nagel, the worldâs largest freight forwarder, founded by Kuehneâs grandfather and Friedrich Nagel in 1890. Kuehne has used his wealth to build up a global transportation empire. He is also the largest shareholder of the German airline Lufthansa, shipping behemoth Hapag-Lloyd, chemicals distributor Brenntag, Hamburg soccer club HSV, and the company that owns North Americaâs Greyhound bus lines. In 2023 alone, according to Bloomberg, he stood to pocket $4.5 billion in dividends from his empire.
In the context of Germanyâs discreet but clubby old money, where aristocratic and industrialist heirs mingle at hunting parties or go skiing in the Alps, Kuehne is a loner. Despite his billions, he remains outside Germanyâs power circles and is only spotted occasionally at financier and merchant hangouts such as Hamburgâs Ãbersee-Club, a century-old private members establishment founded by the cityâs Warburg banking dynasty.
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