The Nazi Billionaires Who Made a Fortune During the Holocaust

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De Jong reports that 25 years after the end of World War II, the wealthiest businessmen in West Germany were Friedrich Flick, August von Finck, Herbert Quandt and Rudolf-August Oetker – four figures whose family fortunes we literally follow throughout the book. As de Jong sums up, “All four were former members of the Nazi Party; one of them had been a voluntary Waffen-SS officer; they had all become billionaires.” Anyone who thinks crime doesn’t pay has either never seen a Scorsese movie, followed the career of Donald Trump or read this book.

Although the article seems to be of tabloid quality, the question is are the Nazi billionaires real?
Did they get-rich-quick in Nazi Germany or did the post-war recovery, hard work, and sacrifice of the German people make Germany and the businessmen wealthy?

After all, the post-war hyperinflation and the currency reform of June 1948 wiped out, at least 95 percent of the value of large assets. Large amounts were exchanged for 10 ℛℳ to 65pf.
Not to mention that most German factories were destroyed if not burned to the ground (and required billions to rebuild), or at best were confiscated as reparations.
I suppose no wealth amassed in Nazi Germany could have survived that.

[ljadw]

David De Jong is a journalist , thus totally unreliable .
1 There is no proof that these four persons were Nazis :being a member of the NSDAP and being a Nazi were two different things .
2 The connection between the Holocaust and their activities is only defamation
3 25 years after WW 2 is 52 years ago
4 Voluntary WSS officer is something totally ridiculous
5 They lost everything after the war ,as all Germans ,but recovered by hard work .

[Waleed Y. Majeed]

According to this article Oetker did volunteer for the WSS.

1940 wurde Rudolf-August Oetker in die NSDAP aufgenommen. Im Juli 1941 ging er freiwillig zur Waffen-SS, die eigene Kampftruppen und die Wachmannschaften in den Konzentrationslagern stellte. Nach mehreren Lehrgängen wurde Oetker am 27. Oktober 1944 SS-Untersturmführer der Reserve.

Oetkers son opened the company archives for investigation after the death of his father, who had resisted and vetoed any research into their nazi past. This research was led by Professor Andreas Wirsching (Direktors des Instituts für Zeitgeschichte in München).
Article from 2013: https://amp2.handelsblatt.com/unternehm ... 58790.html

Waleed

[ljadw]

There is no proof that Oetker worked in the Concentration Camps . Thus the reference to the fact that members of the WSS worked in the Camps is only an attempt to denigrate him without proofs . And it took Oetker 3 years ( in wartime !! ) to become lieutenant 2nd class in the WSS .
We don't know the reasons why at the age of 24 he became a member of the NSDAP and at the age of 25 a member of the WSS .
And one should not forget that the majority of the members of the WSS, Gestapo, NSDAP were not Nazis .

[ewest89]

The Reichsmark was worthless at the end of the war. Occupation money was issued.

[PunctuationHorror]

De Jong reports that 25 years after the end of World War II, the wealthiest businessmen in West Germany were Friedrich Flick, August von Finck, Herbert Quandt and Rudolf-August Oetker – four figures whose family fortunes we literally follow throughout the book. As de Jong sums up, “All four were former members of the Nazi Party; one of them had been a voluntary Waffen-SS officer; they had all become billionaires.” Anyone who thinks crime doesn’t pay has either never seen a Scorsese movie, followed the career of Donald Trump or read this book.

Although the article seems to be of tabloid quality, the question is are the Nazi billionaires real?
Did they get-rich-quick in Nazi Germany or did the post-war recovery, hard work, and sacrifice of the German people make Germany and the businessmen wealthy?

After all, the post-war hyperinflation and the currency reform of June 1948 wiped out, at least 95 percent of the value of large assets. Large amounts were exchanged for 10 ℛℳ to 65pf.
Not to mention that most German factories were destroyed if not burned to the ground (and required billions to rebuild), or at best were confiscated as reparations.
I suppose no wealth amassed in Nazi Germany could have survived that.

Facilities, machines, real estate, holdings, stocks, anything of solid matter was not wiped out by inflation or currency reforms.

Look into Mercedes, Porsch, DaimlerBenz, BMW, IG Farben, ...

[ewest89]

So, what is your point? Tons of equipment was seized by the Allies as reparations. Repairing bomb damage was expensive. Patents were seized.

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Following Germany’s military, political and economic collapse in April 1945, all Siemens factories in Berlin were closed.

Almost half the company’s buildings and production facilities had been destroyed in the war. After the surrender, everything that had survived – including a large number of functional machines, the company’s entire inventory, a large portion of its stock and finished goods as well as technical documentation and design drawings – was dismantled and removed by the Soviet army as reparation for the damages that the Soviet Union had incurred at German hands.

The Allies confiscated all the company’s tangible assets worldwide. All its trademark and patent rights were rescinded. All its foreign assets were lost.
Overall, Siemens forfeited 80 percent of its total worth or some 2.6 billion German marks.

[Montgomery]

The Reichsmark was worthless at the end of the war. Occupation money was issued.

This is not accurate
Reichsmark was very good till the end of the war.
After the war it was forbidden and Germany lived without currency for a while - I am not sure how long.

Cheers

[ewest89]

https://globalfinancialdata.com/the-cur ... -germanies

[Montgomery]

https://globalfinancialdata.com/the-cur ... -germanies

The article doesn't suggest otherwise of my statement!
It clearly showed the destruction of the currency after 1945 till 1948. - in those three years Germany has no currency !!
And how the conversion to Deutschemark was performed as reviving step in 1948.


Cheers