Vereinigte Stahlwerke (Q507842)

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former German coal company
  • VSAG
  • VSt
  • United Steelworks
  • Vestag
  • Stahlverein
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Language Label Description Also known as
English
Vereinigte Stahlwerke
former German coal company
  • VSAG
  • VSt
  • United Steelworks
  • Vestag
  • Stahlverein

Statements

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Flick’s first job after studying in Cologne was as clerk in a coal-mining business.Within eight years he had become a member of the board of directors. He soon bought stock in the giant Vereinigte Stahlwerke (“United Steelworks”) and amassed a controlling interest by 1930. He was accused of manipulating stock prices during the Great Depression, allowing him to sell his interest for three times its fair market value. With the proceeds, Flick expanded his empire to include iron-ore and coal mines, foundries, steel mills, chemical plants, trucks, airplanes, railroad interests, and munitions plants. He became Adolf Hitler’s biggest industrial supplier and supporter. Flick’s wealth was estimated at $1,000,000,000. (English)
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Stahlunion Ingenieurbau Gesellschaft mbH der Vereinigten Stahlwerke AG
1 July 2021
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Gelsenkirchener Bergwerks-Aktien-Gesellschaft
1 July 2021
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Vereinigte Stahlwerke
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