German shipping magnate increases his Lufthansa share to 15%

Shares in Lufthansa Group have increased over three percent following a major investment into the company.

Lufthansa Groups’ stock rose three percent in one day following the increased ownership of the company by Klaus-Michael Kuehne. The billionaire invested a large sum of money to take his shares in the company from roughly ten percent to just over fifteen percent.

Since April, the 85-year-old billionaire Klaus-Michael Kuehne has possessed a ten percent stake in the airline Lufthansa. On July 7th, 2022, his share rose to 15.01 percent. This makes him the largest owner in the company. The acquisition pushed the value of Lufthansa stock up over three percent.

Klaus-Michael Kühne is a German billionaire businessman from Hamburg. As of October 2021, the Bloomberg Billionaires Index estimated Kühne’s net worth to be US$36.2 billion, making him the richest person in Germany.

The approximate cost of a five percent share in Lufthansa at the close of Wednesday’s stock exchange was $337 million. Kuehne has previously stated on multiple occasions his intentions of being a long-term partner for the airline. Holding the largest portion of the company, Kuehne is now considered to be the main investor for the entire company. Many analysts agree that having a primary private investor can act as a sort of safety net for an uncertain future. simpleflying.com

Lufthansa has not shied away from having a primary private investor. It has shared enthusiasm over the latest investments into the company.