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According to the latest Forbes ranking, Klaus-Michael Kühne is now the richest resident of Switzerland with a fortune of 36 billion Swiss francs. Not only is Kühne+Nagel doing well, but his investment in Hapag-Lloyd has also been fortunate. When he entered, no one could foresee the boom of shipping companies during the Corona measures. Kühne is also a major shareholder in Lufthansa.
(Schindellegi) Let someone claim that you can’t get rich with logistics. The 85-year-old Klaus-Michael Kühne clearly disproves this statement. According to the latest Forbes list of the super-rich, Kühne has risen to become the richest resident of Switzerland. With a substantial fortune of 36 billion, the German can comfortably look over Lake Zurich from his refuge in Schindellegi.
His Kühne+Nagel AG closed the 2022 financial year with an extraordinarily strong result. The group’s net revenue increased by 20% to CHF 39.4 billion, EBIT rose by 28% to CHF 3.8 billion, and net profit increased by 30% to CHF 2.8 billion.
High dividends also at Hapag-Lloyd
Hapag-Lloyd increased its EBITDA for the year 2022 – the year of its 175th anniversary – to 20.5 billion US dollars (19.4 billion euros). EBIT grew to 18.5 billion US dollars (17.5 billion euros), and the consolidated result improved to 18 billion US dollars (17 billion euros). So here too, Kühne was able to reap rich returns.
Many engagements and Nazi allegations
Klaus-Michael Kühne is also a benefactor. He has often lent a helping hand to the Hamburger Sport Verein, HSV. For this, he does not hesitate to criticize the club management from time to time. The club even rejected an offer for a financial injection of 120 million euros, as Kühne’s conditions seemed too high.
Last autumn, as part of the Harbour Front Literature Festival in Hamburg, the Klaus-Michael Kühne Prize for the best literary debut of the year was to be awarded. The author Sven Pfizenmaier was the first to draw attention to himself when he canceled his participation in the award ceremony, citing the role of the Kühne-Nagel shipping company in World War II. Klaus-Michael Kühne himself was still too young at the time to take personal responsibility.
The boycott comes long after the war, but apparently, the company and Klaus-Michael Kühne himself have so far suppressed a reckoning of their role during the war, to put it mildly.
Photo: © Kühne Stiftung
