Bloomberg Billionaires Index

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#74 Klaus-Michael Kuehne $15.2B

Random fact: Married wife Christine at age 52 in 1989. The couple is childless.

Overview

Kuehne is the honorary chairman and majority owner of Kuehne + Nagel, the world’s largest sea-freight forwarder. The Schindellegi, Switzerland-based company ships about 4 million container units annually. He also owns 20.2 percent of publicly traded Hapag-Lloyd, a Hamburg-based container-shipping business.

As of July 26, 2017:
Last change +$94.1M (+0.6%)
YTD change +$3.67B (+31.8%)
Industry Industrial
Biggest asset KNIN VX Equity
Citizenship Germany
Age 79
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Klaus-Michael Kuehne's net worth of $15.2B can buy ...

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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Klaus-Michael Kuehne's wealth is derived from his 53.5 percent stake in Kuehne + Nagel, the world’s largest sea-freight forwarder, according to its website in April 2017. It transferred about 4 million TEU container units in 2016, according to its annual report. The billionaire controls the shares through Kuehne Holding, according to the annual report. 

He also owns 20.2 percent of container-shipping company Hapag-Lloyd, according to the 2016 annual report. He holds the shares through Kuehne Maritime and has invested more than 750 million euros ($820 million) in Hapag-Lloyd since 2008.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance. Kuehne also owns 11 percent of German football club Hamburg SV after the conversion of loans, including a 18.8 million euro loan from Kuenhe that converted in January 2015, according to Hamburg's website.

Inge Lauble, a spokeswoman at Kuehne + Nagel, to declined to comment on the calculation.

Biography

Birthdate: 1937
Family: Married, No children
Education: University of Hamburg, Bachelor's Degree

Grandfather August Kuehne and his partner Friedrich Nagel founded transportation and logistics company Kuehne + Nagel in Bremen, Germany, in 1890. Klaus-Michael was born in 1937, and joined the family business in 1958, following a banking apprenticeship. He was appointed CEO of the Hamburg, Germany-based company eight years later, and began a global expansion by focusing on acquisitions.

Purchasing competitors, he increased Kuehne + Nagel's market share in areas where it had a limited presence, such as road and contract logistics. He joined the board of directors after resigning as CEO, in 1975. He was named executive chairman of the board in 1992, and was appointed the company's honorary chairman in 2011.

Kuehne and a group of investors made a successful bid in 2008 for a majority stake in Hapag-Lloyd, Europe’s fourth-largest container-shipping line. He lives in Schindellegi, Switzerland, with his wife, Christine, and is chairman of his namesake foundation.

Milestones
  • 1937 Born in Hamburg, Germany, to Alfred Kuehne and his wife.
  • 1958 Joins Kuehne & Nagel following a banking apprenticeship.
  • 1976 Kuehne Stiftung is founded to support education and science causes.
  • 1981 Klaus-Michael's father, Alfred Kuehne, dies.
  • 1992 Becomes executive chairman of the board.
  • 1994 Kuehne + Nagel sells shares in an initial public offering.
  • 2008 Heads a consortium that buys Hapag-Lloyd.
  • 2011 Appointed as Kuehne & Nagel's honorary chairman.
  • 2015 Hapag-Lloyd starts publicly trading in Hamburg.