Carl Frederik Tietgen (19 March 1829 – 19 October 1901) was a Danish financier and industrialist. He played an important role in the industrialisation of Denmark as the founder of numerous prominent Danish companies, many of which are still in operation today. Tietgen notably formed conglomerates, thus several of Tietgen's companies attained monopoly-like status, cementing their durability.[1]
Quick Facts Born, Died ...
Carl Frederik Tietgen |
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| Born | (1829-03-19)19 March 1829
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| Died | 19 October 1901(1901-10-19) (aged 72)
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| Resting place | Graveyard at Lyngby Church |
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| Nationality | Danish |
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| Occupation(s) | Industrialist, real estate developer |
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| Known for | Foundation of numerous companies
Completion of Frederik's Church |
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Tietgen was a dedicated Grundtvigian, and financed the completion of the Marble Church at his own expense.
Upon returning to Denmark Tietgen founded a wholesale business, C.F. Tietgen & Co., at Copenhagen’s Amagertorv in 1855, and later relocated it to Gammeltorv Market. In spite of the office impressive locations, the business was a modest sole proprietorship, dealing primarily as an agent between business connections in Manchester and Copenhagen. In 1857 after his involvement as curator in a bankruptcy had demonstrated a remarkable eye for economy and strategic thinking, he was invited to join the management of Privatbanken which under him developed into Denmark's first investment bank.
In the span of four decades as head of Privatbanken, Tietgen created and consolidated a large number of companies, and gained control of major companies in several industrial sectors.
In the transportation industry Tietgen developed several railroads, capitalized Burmeister & Wain as well as Svitzer in 1872. He created Det Forenede Dampskibs-Selskab as a merger of several smaller operators and in 1880 founded Thingvalla Line.
Tietgen created several companies in the telegraph and telecommunications sector. He founded Det Store Nordiske Telegraf-Selskab in 1868, and with the arrival of the telephone KTAS was founded in 1880.
In 1872 Tietgen formed De Danske Sukkerfabrikker as a merger of several sugar refineries. In 1873 followed the cofounding of the Tuborg brewery and the consolidation of several smaller coffee substitute companies forming De Danske Cikoriefabrikker. In 1881 several smaller distillers were merged to form De Danske Spritfabrikker and in 1891 the merger of several independent breweries formed De Forenede Bryggerier.
In 1869 Tietgen cofounded Banque de Paris with a group of European bankers, which in 1872 merged to form Paribas.
Tietgen was a major force and a European pioneer in industrial consolidation. Tietgen would merge several competing companies in a given industry, creating large publicly traded stock companies. Privatbanken would become a major shareholder in the new company, as would a circle of business associates and Tietgen himself.
He retired from Privatbanken in 1896, after suffering a stroke in Paris in 1894.
