Klaus-Michael Kühne, founder and majority shareholder of global logistics giant Kühne+Nagel, died overnight at the age of 89, according to a report by German business magazine Manager Magazin, citing his inner circle.
Kühne, who held a controlling stake in Kühne+Nagel through his holding company, was also a major investor in several prominent European firms. His portfolio included stakes in Deutsche Lufthansa, shipping group Hapag-Lloyd, chemical logistics provider Brenntag, mobility operator Flix, and German football club Hamburger SV. His holdings were managed from Schindellegi in Switzerland, where he had relocated from Hamburg in the late 1960s.
Born in Hamburg in 1937, Kühne reportedly returned from Mallorca to Switzerland about ten days prior to his death and sought medical treatment. He leaves no children, and his estimated net worth of 21 to 22 billion Swiss francs is expected to be transferred to the Kühne Foundation, according to Bilanz’s annual ranking of Switzerland’s wealthiest individuals.
