Klaus-Michael Kühne (born 2 June 1937) is a prominent German billionaire businessman, widely known as the richest person in Germany as of October 2021, with an estimated net worth of US$36.2 billion according to the Bloomberg Billionaires Index. Kühne is the honorary chairman and majority owner (53.3%) of Kühne + Nagel, an international transport company that was co-founded by his grandfather, August Kühne (1855–1932).
In addition to his leadership role at Kühne + Nagel, Kühne holds significant stakes in other major companies such as Lufthansa, Hapag-Lloyd, and several other investments. As a key shareholder in these influential firms, he has significant political and economic influence in Germany. Despite the scale of his holdings, Kühne does not pay taxes in Germany for his holding company or personal assets.
Early Life and Education
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| Born | 2 June 1937 Hamburg, Germany |
| Occupations | Businessman |
| Known for | Richest person in Germany |
| Title | Honorary chairman, Kühne + Nagel |
| Parent | Alfred Kühne |
| Relatives | August Kühne (grandfather) |
Klaus-Michael Kühne was born in 1937 in Hamburg, Germany. After completing his high school education, he pursued a two-year training course to become a bank and foreign trade clerk at the private Hamburg bank Münchmeyer & Co.
Career
Klaus-Michael Kühne began his professional career in 1963 when he joined Kühne + Nagel as a junior partner alongside his father, Alfred Kühne. During the 1970s, Kühne faced financial challenges while attempting to establish a shipping company, especially during the oil price crises, but was unsuccessful.
In 1981, following his father's passing, Kühne sold a 50% stake in Kühne + Nagel to the Lorho group for 90 million Deutsche Marks. However, in 1992, he bought back the company for 340 million marks and took it public in 1994. Kühne became CEO of the company in 1996 and transitioned to president and delegate of the board of directors in 1998. Through his Kühne Holding Stock Company, he maintains a 55.75% stake in Kühne + Nagel International.
In 2008, Kühne became a partner in Hapag-Lloyd shipping company through the Albert Ballin consortium, holding a 30% share. He expanded his business interests in 2016 by acquiring 20.3% of VTG, a Hamburg-based rail logistics company, though he sold the shares in 2018.
Additionally, Kühne runs Kühne Holding AG, which acquired 20% of VTG in 2016. In April 2020, he increased his stake in Hapag-Lloyd to 30%, making him the largest shareholder. In 2022, he further expanded his portfolio by doubling his stake in Deutsche Lufthansa AG.
Personal Life
Klaus-Michael Kühne has been married to his wife, Christine (born in 1938), since 1989. The couple has no children. Although Kühne is a German national, he has lived in Schindellegi, Switzerland, since 1975, where the headquarters of his company, Kühne + Nagel, is also located.
Ownership and Influence
Klaus-Michael Kühne is deeply involved in various global businesses and has significant influence across multiple industries.
Kühne Holding AG: Kühne solely owns Kühne Holding AG, through which he holds a 55.75% share in Kühne + Nagel International AG, a leading logistics and transport company.
Hapag-Lloyd: In 2008, Kühne became a partner in the shipping company Hapag-Lloyd through the Albert Ballin consortium. He holds a 30% stake in the company, further solidifying his influence in the global shipping industry.
Lufthansa Group: Kühne holds a 17.5% stake in the German airline Lufthansa Group. In 2022, following the sale of a significant portion of Lufthansa shares by the German state due to the economic fallout from the Covid crisis, Kühne seized the opportunity to acquire additional shares. This acquisition further expanded his role in the company, demonstrating his support for the German Economic Stabilization Fund's (WSF) sales process.
Kühne's investment interests reflect his strategic positioning in industries such as logistics, shipping, and air travel, further cementing his status as one of Germany's most influential business figures.
Assets
Klaus-Michael Kühne's wealth is a subject of significant scrutiny due to its historical ties and his business dealings. The Kühne family's fortune has origins that are closely linked to the systematic confiscation of assets from European Jews during the Nazi era. Kühne has worked to downplay the historical connection between his fortune and the Holocaust.
Kühne's family moved their private and business residence to Switzerland, and his companies continue to generate the majority of their sales and profits in Germany. Despite this, Kühne has publicly stated that he pays no taxes in Germany. In a 2022 interview, he criticized the state’s handling of the economy, noting that "it is well known that the state cannot handle the economy properly."
Kühne is also the sole founder of the non-profit "Kühne Foundation," established under Swiss regulations. He contributes 5 billion Swiss Francs annually to the foundation, which is set to inherit his company's assets upon his death.
Regarding his net worth, Klaus-Michael Kühne was estimated to have a personal fortune of approximately 14.2 billion US dollars in 2020, ranking him as the 5th richest individual in Germany and 74th globally. By May 2021, his wealth had grown to US$34.4 billion, earning him a spot at 38th on the Bloomberg Billionaires Index. In 2021, the Bilanz list pegged his net worth at 30 billion Swiss Francs.
In recent years, Kühne has continued to increase his stake in key companies. In 2022, he raised his stake in Lufthansa to 10.01%, an investment worth 830 million euros, and further increased his share by another 5% to become the largest individual shareholder in Lufthansa.
As of December 2023, Forbes ranked Kühne as the 47th richest person globally with an estimated fortune of US$31.5 billion. By March 2024, he had moved up to 32nd position with a net worth of $39.2 billion
Patronage and Honors
The Kühne Foundation
Klaus-Michael Kühne is the sole founder of the non-profit Kühne Foundation, established under Swiss regulations. He contributes 5 billion Swiss Francs annually to the foundation, which will eventually inherit the assets of his companies. This foundation plays a key role in his philanthropic efforts.
Kühne Logistics University
In 2003, Kühne, alongside the City of Hamburg and the Technical University of Hamburg-Harburg, founded the Hamburg School of Logistics, which was later renamed Kühne Logistics University (KLU) in 2007. The business school, named after Kühne, offers programs in business, management, leadership, data science, and supply chain management. Despite Kühne’s annual investment in KLU, it remains independent from Kühne & Nagel and is not a corporate university. Kühne's collaboration also extended to Technische Universität Berlin, where they launched the International Logistics Networks department. Moreover, the Kühne Foundation supports WHU’s Kühne Center for Logistics Management and the Kühne Foundation Endowed Chair of Logistics Management. Kühne received an honorary doctorate from the Otto Beisheim School of Management in 2008.
In 2005, Kühne was inducted into the Logistics Hall of Fame. In 2007, he was named an honorary professor by the Hamburg Senate for his contributions to the Elbphilharmonie Concert Hall and the development of logistics science in the city.
Commitment to Hamburger Sport-Verein (HSV)
Kühne is a significant investor in the Hamburger Sport-Verein (HSV) soccer club, located in Hamburg. In 2010, he acquired 33% of the rights to transfer fees for several players, including Dennis Aogo, Dennis Diekmeier, and Paolo Guerrero, for €12.5 million. Over time, he increased his financial involvement with the club, acquiring a 7.5% stake in 2015 and financing player signings, including that of Albin Ekdal in 2015. Kühne also took over the naming rights of the HSV stadium, renaming it Volksparkstadion (People’s Stadium Park), for which he paid €4 million annually until 2019. In 2016, he provided significant loans for the club, including a €38 million loan for player signings. However, Kühne announced in 2018 that he would no longer provide financial support to HSV, describing the decision as "sustainable."
New Hamburg Opera Building
In May 2022, Kühne proposed pre-financing the construction of a new opera house in Hamburg’s Hafencity district, with an estimated cost of €300 to €400 million. The project would involve demolishing the listed Hamburg State Opera and making way for a modern real estate development. Kühne’s plans have been the subject of ongoing controversy.
References
- (No date) Bloomberg.com. Available at: https://www.bloomberg.com/billionaires/profiles/klausmichael-kuehne/ (Accessed: 10 January 2025).
- Goodreturn (no date) Klaus-Michael Kuehne: Klaus-Michael Kuehne net worth, biography, age, spouse, children & more, Goodreturn. Available at: https://www.goodreturns.in/klaus-michael-kuehne-net-worth-and-biography-blnr34.html (Accessed: 10 January 2025).
- Honorary chairman Klaus-Michael Kuehne (no date) Kuehne + Nagel. Available at: https://home.kuehne-nagel.com/en/-/company/corporate-governance/honorary-chairman-klaus-michael-kuehne (Accessed: 10 January 2025).
- Klaus-Michael Kuehne (no date) The International Air Cargo Association. Available at: https://tiaca.org/hall-of-fame/klaus-michael-kuehne/ (Accessed: 10 January 2025).
