Latest news with #Klaus-MichaelKühne
Bloomberg
07-03-2025
- Business
- Bloomberg
Germany's Richest Man to Pocket $9 Billion After Well-Timed Bets
Klaus-Michael Kühne, Germany's richest person, stands to reap at least $9.3 billion in dividends after a period of profitable growth at his expanding transport empire. The windfall stems from the 87-year-old tycoon's 53% stake in Kuehne + Nagel International AG, the world's largest air and sea freight-forwarding business co-founded by his grandfather, a 15% holding in Deutsche Lufthansa AG and 30% stake in Hapag-Lloyd AG. He's the biggest investor in the German airline, having built his stake after a government bailout in 2022. And he boosted his interest in the container line in 2020, just before a boom that led to record profits.
Yahoo
07-02-2025
- Business
- Yahoo
Hamburg reaches deal with logistics magnate to build new opera house
The northern German city of Hamburg plans to build a new opera house in the Hafencity district near the port with backing from the private Kühne Foundation, city officials announced on Friday. Billionaire shipping and logistics magnate Klaus-Michael Kühne, 87, had previously announced in 2022 that he would provide up to €330 million ($343 million) for the new opera house in his home city. The city is providing the land and will also take care of the infrastructure. The location will place the new opera house not far from Hamburg's Elbphilharmonie concert hall, a landmark new concert hall completed in 2016 after massive cost overruns. In an interview with dpa, Hamburg's culture minister, Carsten Brosda described Kühne's offer as a "great gesture of patronage" that "we would also be happy to accept." A press event featuring Hamburg city officials and leaders of Kühne's foundation is planned for midday on Friday, at which the contract for planning and building the new opera house will be presented. Hamburg city leaders were initially sceptical about Kühne's proposal, but following closed-door talks local politicians have become more and more comfortable with the proposal and negotiations about the construction continued to progress behind closed doors. A new use must now be found for the existing Hamburg State Opera House. The building, which dates back to 1955, is listed as historically significant but urgently needs to be renovated. Brosda has previously that there are ideas for different possible uses for the building.
