Nazi billionaires The dark history of Germany's wealthiest dynasties

Dutch journalist de Jong reminds readers that some of the richest people in present-day Germany are the beneficiaries of Nazi-era industrial policies, such as the expropriation of Jewish assets and the use of slave labor. He focuses on several prominent families. The Flicks, whose steel-baron grandfather Friedrich was convicted of war crimes at Nuremberg, are now worth billions. The Porsche-Piëch family built tanks for the Third Reich and forced out Jewish cofounder Adolf Rosenberger before successfully rebooting their automotive empire after the war. Reclusive billionaire August von Finck Jr., whose grandfather Wilhelm cofounded mega-insurers Allianz and Munich Re, reportedly supported far-right political organizations. The Quandt siblings, who own much of BMW, descended from Günther Quandt, who manufactured Nazi uniforms, ammunition, and batteries. Much of this has been covered by the German press but is not well known to international audiences. De Jong is thorough in his tracing of business and personal relationships and sensitive to the complexities of opportunism and collaboration. But the picture he paints is a damning one, pointing to the complicity of those who allowed war crimes to go unpunished.

Opportunism and greed served tyranny and war, according to this scathing study of Nazi Germany's leading businessmen. Bloomberg journalist de Jong investigates five plutocrats who funded Hitler's rise to power: industrialists Günther Quandt and Friedrich Flick, financier August von Finck, automaker Ferdinand Porsche, and baking-goods mogul Richard Kaselowsky. These men boosted their fortunes by "Aryanizing" Jewish-owned businesses, acquiring them through coercion at below market prices; ensured the Wehrmacht was supplied with weapons, uniforms, and pudding mix in its campaigns of conquest; and staffed their factories with forced laborers and concentration camp inmates, thousands of whom died of abuse, hunger, and outright execution. Later chapters probe the lies and bribes they deployed to escape punishment after the war, their climb back to wealth and power, and the shame-faced contrition of their billionaire heirs when their misdeeds were exposed decades later. De Jong's colorful narrative features cutthroat corporate intrigue, sordid kowtowing to Nazi potentates--at one meeting, SS chief Heinrich Himmler strong-armed Flick and Kaselowsky into funding his Aryan breeding program--and a melodramatic feud between Quandt and Nazi propaganda chief Joseph Goebbels, who married Quandt's ex-wife. The result is an intimate and vivid history. Photos. Agent: Howard Yoon, Ross Yoon Agency. (Apr.)

An unflattering investigative history of German big business over the past century. Financial journalist de Jong reminds us that many of today's superwealthy Germans are heirs of entrepreneurs whose companies prospered under the Third Reich through use of slave labor and seizure of companies. This is old news, but de Jong explores how all walked free after the war and their heirs do little to acknowledge their ancestors' crimes. Few entrepreneurs paid attention to Hitler until he grew powerful after 1930. Some became ardent Nazis, but most approved of his hatred of socialism, worker activism, and democracy. Once Hitler began rearming, they scrambled for contracts, which involved currying favor with Nazi leaders. An enormous source of profit was Jewish businesses, often acquired for a pittance. Readers searching for an industrialist who disapproved will come up empty. As de Jong shows, nearly everyone approved of the methods of the business community. Orders increased, and a flood of slave laborers from the conquered countries poured into the factories. Though most "employees" were treated horribly, few employers objected. During the final year of the war, companies continued to sell their products and overwork their laborers even as the Allies overran Germany. Then they made themselves scarce. Their activities were no secret to Allied intelligence, but the first Nuremberg trial involved major political figures rather than business owners. Later, the trials of businessmen received little publicity and largely flopped, handing out a few short prison sentences and fines. It's to de Jong's credit that he brings many of these events back into the historical spotlight. The defendants mostly kept their businesses, handing them on to heirs, who were not inclined to discuss the wartime years. As decades passed, a good deal of dirt turned up, persuading some to apologize and make modest gestures of restitution, but others stonewalled. The author recounts perhaps more details on German business dealings than American readers may seek, but there is enough chicanery to maintain interest. A sturdy account of the financial side of Nazi evil that resonates today. Copyright (c) Kirkus Reviews, used with permission.