According to a ranking by Forbes magazine, Lidl founder Dieter Schwarz is no longer the richest German. He was overtaken by 86-year-old Klaus-Michael Kühne.
42.6 billion US dollars – or in euros: around 38.8 billion. This is how much money the richest German currently has. The Hamburg entrepreneur Klaus-Michael Kühne has come to the top in a real-time ranking by the business magazine “Forbes” – relegating Lidl founder Dieter Schwarz to second place.
The 86-year-old Kühne has apparently increased his wealth significantly within a month: in January of this year, the Hamburg native still owned 34.6 billion US dollars – around 32 billion euros. Overall, Kühne’s assets have grown steadily over the years. According to the magazine, in 2014 he had $10.4 billion.
Klaus-Michael Kühne owns shares in Hapag-Lloyd and Lufthansa
Lidl owner Schwarz, on the other hand, apparently had to give up a lot. In January, his fortune was estimated at $46.4 billion. According to Forbes, there are currently 38.5 billion.
Following Schwarz in the Forbes list are entrepreneurs Reinhold Würth and his family ($33.7 billion), major BMW shareholder Stefan Quandt (25.9 billion) and his sister Susanne Klatten (24.7 billion). All three have increased their wealth in recent weeks, the data shows.
Klaus-Michael Kühne took over the logistics company Kühne + Nagel, co-founded by his grandfather, as CEO in 1966 and is now the majority owner. According to Forbes, he also owns around 30 percent of the shipping and logistics company Hapag-Lloyd. In 2022, he acquired a 17.5 percent stake in Lufthansa, making him its largest individual investor.
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Kühne has been a fan of HSV since childhood
Kühne also made a financial contribution to his favorite football club, Hamburger SV. Even though he was annoyed about the club’s performance in the Bundesliga in the past, he still supports HSV. He has been a fan since he was a child and watches every game on television.
In addition to his company shares, the 86-year-old patron also owns the Hamburg luxury hotel “The Fontenay”. According to media reports, after the insolvency of Austrian billionaire René Benko’s Signa Group, Kühne also showed interest in his Elbtower real estate project. According to information from the news magazine, Kühne is no longer interested in the high-rise building that is under construction.
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Source: Stern
