Nazi Billionaires : The Dark History Of Germany’s Wealthiest Dynasties by David de Jong

Meticulously researched and compelling, David de Jong’s groundbreaking investigation explores the enduring consequences of Nazi ties among German tycoons. The book sheds light on how these individuals, with the support of the Nazis, amassed vast fortunes during the Third Reich and World War II. It also examines how America turned a blind eye to their actions, allowing them to escape accountability.

In 1946, Günther Quandt, the prominent figure behind Germany’s renowned industrial empire and the current owner of BMW, was arrested on suspicion of collaborating with the Nazis. Quandt argued that he was coerced into joining the party by his rival, propaganda minister Joseph Goebbels, resulting in his eventual acquittal. However, this was a fabrication. The subsequent generations of Quandt and other billionaire families with Nazi connections have only grown richer, while their involvement in the atrocities committed during that dark era remains unresolved.

These dynasties persistently influence the global economy, with control over entities such as Daimler-Benz, Allianz, Porsche, Volkswagen, and BMW. Yet the sordid history behind their power has remained concealed, until now.

Through this landmark investigation, de Jong delves into the true story of how Germany’s wealthiest business dynasties garnered immense wealth and influence through collaboration with the Third Reich. The author uncovers startling details about the tycoons’ acquisition of Jewish businesses, exploitation of slave labor, and ramping up of weapons production to aid Hitler’s army. Perhaps even more troubling is the revelation of America’s complicity, as political expediency allowed these billionaires to evade justice while leaving an indelible mark on the German and global economy.

In exposing these dark truths, de Jong’s work compels us to confront the ongoing legacy of these Nazi ties and the urgent need for a complete reckoning with the past.

Nazi Billionaires: Unmasking Germany’s Wealthiest Dynasties.

Welcome

Welcome to the virtual event hosted by the Fritz Usher Society for Persecuted, Ostracized, and Banned Art. I am Rachel Stern, the Director and CEO of the society based in New York. Our society is dedicated to researching, discussing, publishing, and exhibiting the work of artists whose lives and achievements were affected by the German Nazi regime between 1933 and 1945. Today, we have a special guest, David De Young, the author of “Nazi Billionaires: The Dark History of Germany’s Wealthiest Dynasties.” David is a journalist who has covered European banking and finance, hidden wealth, and billionaire fortunes. His work has appeared in Bloomberg Businessweek, The Wall Street Journal, and more. In this event, David will read an excerpt from his book and engage in a conversation with me. Let’s get started!

Excerpt Reading

On the warm spring evening of April 21st, 1919, Guindra Quandt boarded a night train in Berlin. He was traveling to central Germany for a business meeting. While on the train, he encountered a young girl named Makda. They struck up a conversation, and Guindra was captivated by her beauty. Makda was just 17 at the time, and Guindra, 20 years her senior, was instantly infatuated with her. As their relationship progressed, Makda eventually divorced her first husband and married Guindra. The Quandt family went on to become one of Germany’s wealthiest and most powerful business dynasties, with control over companies like BMW.

The Importance of the Quandt Family

Magda Quandt, later known as Magda Goebbels, holds a significant place in David’s book. After divorcing Guindra Quandt, she entered a relationship with Joseph Goebbels, becoming the unofficial first lady of the Third Reich. The Quandt family is still influential today, with members controlling BMW. They are also major donors to political parties in Germany. The Quandt family’s power extends beyond their wealth and business interests, making them a key focus of David’s book.

The Porsche Family’s Jewish Connection

Another family featured in David’s book is the Porsche family. It is not widely known that the Porsche car design company was co-founded by a Jewish man named Adolf Rosenberger. However, the family purchased Rosenberger’s shares far below market value during the Nazi era. This pattern of expropriation and exploitation is seen throughout the book, with powerful families profiting from the crimes and atrocities of the Third Reich.

August von Flick and Business Collaboration with Nazis

August von Flick, the heir to a major investment and banking fortune, was another key figure in David’s book. His family’s company, which controlled the insurance giant Allianz, engaged in exploitative practices during the Nazi regime. Von Flick was involved in fundraising efforts for the Nazi party and took advantage of the situation to acquire banks far below their market value. Like the other families discussed, the von Flick family continued to prosper and exert influence after World War II.

Accountability and Historical Transparency

The book delves into the ways in which these wealthy families have whitewashed their history and downplayed their involvement in Nazi crimes. David argues that true historical transparency requires acknowledging both their business successes and their wartime actions. He advocates for companies to be honest about their past and not hide their links to the Third Reich.

Reactions to the Book

The book has received varied reactions, depending on the country. In the UK and the US, some have used the book to validate their own political beliefs, highlighting the dark history of German families as evidence for their own arguments. In Germany, there has been a mixed response, with some families even sending legal letters to media outlets regarding their portrayal in the book. The controversy surrounding the book demonstrates the ongoing debate and reckoning with history in Germany and beyond.

Final Thoughts

In conclusion, David De Young’s book sheds light on the dark history of Germany’s wealthiest families during the Nazi era. It explores how these families profited from the regime’s crimes and lays bare the need for historical transparency and accountability. The book challenges readers to question the actions of these families and the implications for the present day. It is an important reminder of the ongoing responsibility to confront and learn from history.