Klaus-Michael Kuehne, who expanded the Kuehne + Nagel International AG transport company into one of the world's biggest sea and air freight forwarders and became Germany's wealthiest individual, has died. He was 89.His death, in his longtime hometown of Schindellegi, near Zurich in Switzerland, was confirmed by the company on Monday. "With the passing of Klaus-Michael, we have lost a visionary, a great entrepreneur and an extraordinary personality," Kuehne + Nagel Chairman Joerg Wolle said. "Our thoughts are with his widow Christine Kuehne."Profits soared during the Covid-19 pandemic, when supply chains buckled and freight transport rates skyrocketed. Among freight carriers with expertise in shipping health-care products, Kuehne + Nagel was a major mover of vaccines. It also increased business when stuck-at-home consumers ordered goods.Kuehne's net worth, rooted in his 55% ownership of Kuehne + Nagel, was $49 billion, according to the Bloomberg Billionaires Index.
Shipping tycoon Klaus-Michael Kuehne dies at 89 in Switzerland
Klaus-Michael Kuehne, the richest man in Germany, has passed away at the age of 89. Under his leadership, Kuehne + Nagel transformed into a global freight forwarding powerhouse. The company experienced a remarkable profit boost during the recent pandemic, attributed to a surge in demand for healthcare and consumer products. His substantial stake in Kuehne + Nagel significantly contributed to his immense wealth.
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