Key facts
- Klaus-Michael Kuehne, the controlling shareholder of Swiss logistics group Kuehne + Nagel, has died at age 89.
- Kuehne was one of Germany's most powerful entrepreneurs.
- He expanded Kuehne + Nagel into a global leader in air and sea freight.
- His holding company, Kuehne Holding, retains a majority stake in Kuehne + Nagel.
- Kuehne also held stakes in Hapag-Lloyd, Brenntag, Flix, and Lufthansa.
Klaus-Michael Kuehne, the German billionaire who controlled the Swiss logistics giant Kuehne + Nagel, has died at the age of 89. German media outlets, including Manager Magazin and Handelsblatt, reported his passing, citing sources close to his family. Kuehne was a significant figure in German business, having expanded Kuehne + Nagel into a global leader in air and sea freight since joining the family business in 1958 and leading it from 1966. His holding company, Kuehne Holding, still holds a majority stake of 55.4% in Kuehne + Nagel. In recent years, Kuehne had also acquired substantial stakes in other major companies, including Hapag-Lloyd, Brenntag, Flix, and Lufthansa. His estimated net worth was around 23.5 billion euros, and his fortune is expected to pass to the Kuehne Foundation. The company, his holding company, and his foundation have not yet issued immediate comments.