Kuehne is the honorary chairman and majority owner of Kuehne + Nagel, the world’s largest sea-freight forwarder. The Schindellegi, Switzerland-based company had revenue of 32.8 billion Swiss francs ($35.9 billion) in 2021. He also owns about one-third of Hapag-Lloyd, a Hamburg-based container-shipping business.
Klaus-Michael Kuehne's net worth of $34.4B can buy ...
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The majority of Klaus-Michael Kuehne's wealth is derived from his stakes in two shipping companies: Kuehne + Nagel and Hapag-Lloyd.
He has a 53% stake in Kuehne + Nagel, according to company's 2021 annual report. Kuehne + Nagel is the world’s largest sea-freight forwarder, according to its website.
Kuehne owns 30% of container-shipping company Hapag-Lloyd through Kuehne Maritime, according to its 2021 annual report. He's also acquired about 15% of Deutsche Lufthansa, according to company filings in 2022.
The value of his cash investments is based on dividends, insider transactions, taxes and market performance.
Inge Lauble-Meffert, a spokeswoman at the Kuehne Foundation, declined to comment on the calculation.
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.