Carl Frederik Tietgen
|Carl Frederik Tietgen|
19 March 1829|
|Died||19 October 1901
|Resting place||Graveyard at Lyngby Church|
|Occupation||Industrialist, real estate developer|
|Known for||Foundation of numerous companies
Completion of Frederik's Church
Carl Frederik Tietgen (19 March 1829 – 19 October 1901) was a Danish financier and industrialist. The founder of numerous prominent Danish companies, many of which are still in operation today, he played an important role in the industrialisation of Denmark. Notably also forming conglomerates, several of Tietgen's companies attained a monopoly-like status, which cemented their durability.
Early life and career
Tietgen was born on 19 March 1829 in Odense, the son of a manager of a social club for the local bourgeoisie where he helped out throughout his childhood. After finishing his commercial apprentice, he worked in the United Kingdom for five years, settling in Manchester, England. He also traveled to northern Germany, Norway and Sweden. In the United Kingdom, Tietgen gained experience in private banking, an industry still in its infancy in Denmark at that time.
Foundation of Privatbanken
Back in Denmark, he founded a Wholesale business, C.F. Tietgen & Co, at Copenhagen's Gammeltorv Market in 1855, but this career did not last long. 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 Bank which under him developed into Denmark's first investment bank. He also introduced the cheque to Denmark.
This enabled him to financially carry out his numerous investments and startups. Occasionally he also invested his own money in projects.
The companies founded or co-founded by Tietgen include:
- De Danske Sukkerfabrikker (1872)
- B&W (1872)
- Thingvalla Line (1879)
- De Danske Spritfabrikker (1881)
- KTAS (1882)
- Det Forenede Dampskibs-Selskab (1866 )
Tietgen suffered partial paralysis following a minor brain hemorrhage in 1896. He was weakened for the last years of his life, causing him to retire from most of his positions. Tietgen died in the evening of 19 October 1901; a memorial ceremony took place at the Marble Church on 25 October. He was buried in Lyngby on 29 October 1901.
- (in Danish) Lange, Ole. Stormogulen: CF Tietgen, en finansmand, hans imperium og hans tid 1829-1901. Copenhagen: Gyldendal, 2006. ISBN 87-02-05278-4.
- (in Danish) Marstrand, Jacob. CF Tietgen: Et Livsbillede fra det nittende Aarhundrede. 3rd ed. Copenhagen: Gyldendal, 1929.
- "C.F. Tietgen". Gyldendal. Retrieved 2010-07-15.
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- Biography (in Danish)