Who was August Thyssen?
A workaholic and an extremely creative businessman, August Thyssen perfects the concept of the vertically integrated corporation. For example, he sets up a mechanical engineering company in Mülheim an der Ruhr to build the large gas engines required for his own manufacturing operations. He becomes involved in steel processing, steel coating and shipbuilding for the same reasons. Without making any technical inventions himself, but always with an eye for innovations, he rises from a medium-size entrepreneur to one of the biggest German industrialists of the first quarter of the 20th century. Business profits are invested in the further expansion of his group. In addition to this maxim, August Thyssen also donates several million marks to a variety of charitable organizations (incl. August-Thyssen-Foundation’s ‘Franziskushaus’ orphanage and old-age home in Mülheim an der Ruhr). However, even today little is known of his charitable work. One reason may be August Thyssen’s avoidance of any
