This article directly stems from the research process for our European single family office database. Our list of German single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity and renewables.
Klaus-Michael is the chairman and majority of the global logistics company, Kuehne + Nagel which was founded by his grandfather, August. As of October 2022, Forbes estimated his net worth at $25.2bn, which puts him as the 52nd richest person in the world and the richest person in Germany. In this article, we will investigate if Klaus-Michael manages his wealth through a family office.
Kuehne manages wealth through Kuehne Holding AG, Kuehne + Nagel, and Kuehne Foundation
Klaus-Michael is the majority owner of Kuehne + Nagel, Klaus-Michael began working for the company in 1963 and would later become CEO in 1996. Klaus-Michael currently is the honorary chairman of the global transport company which has offices in over 106 countries. Kuehne manages his wealth through Kuehne Holding AG and has completed large-scale investments through the holding company such as a 20% stake in VTG, a German rail logistics company. In 2018, the stake was sold to Morgan Stanley Infrastructure for over €300m. Klaus-Michael also owns 30% of the fellow logistics company, Hapag-Lloyd, and has strengthened his position in recent years as well as purchasing real estate and luxury hotels in Mallorca and Hamburg. In 1976, Klaus-Michael and his parents established the Kuhne foundation to support emerging talents in the field of logistics and medicine. The foundation has also supported cultural projects such as European festivals, operas, and concert halls. Klaus-Michael owns a minority stake in the German football club, Hamburger SV (HSV) and in 2021 the German businessman made a €120m offer to increase his stake to 39.9% which was rejected.
Picture source: Frank McKenna