The Munich billionaire August von Finck junior died in London.

This was reported by the “Münchner Merkur”.

A friend and long-time employee confirmed the news to the newspaper.

August von Finck junior was considered one of the richest Germans.

Henning Peitsmeier

Business correspondent in Munich.

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The banker and entrepreneur was, among other things, the main shareholder of the Swiss restaurant and hotel group Mövenpick and founded Degussa Goldhandel.

He was shy of the public and moved to Switzerland with his considerable fortune many years ago.

There he lived in seclusion at Weinfelden Castle in the canton of Thurgau.

August von Finck was the son of the banker of the same name, who had once made the Munich-based money house Merck Finck & Co into a prestigious address.

Since the beginning of the twentieth century, the family belonged to the top of the German money nobility.

The father's success rests on August von Finck's shoulders

The junior actually wanted to be a farmer.

Perhaps even then he knew how difficult it would be to compare with his father.

In 1973 he became a partner in the private bank, after the death of his father in 1980, its boss.

August von Finck junior tried to do things differently and bought the Löwenbräu brewery, which he almost ruined.

He acquired a stake in the Mövenpick gastronomy group and exchanged leadership there several times.

He was never as successful as his father.

Quite surprisingly for the public, the baron separated from the Munich private bank in 1990 and gradually relocated to Switzerland.

But the sale of the bank brought him into legal trouble with his younger half-brother Helmut von Finck again in old age.

He claimed a good ten years ago that August von Finck had violated his father's last will when he sold the bank to the British Barclays Bank.

Although he had always avoided public appearances, his name always caused a stir.

Most recently it became known that von Finck is said to have paid former member of the Bundestag Peter Gauweiler (CSU) a high amount of millions for consultancy work with the mandate to take legal action against the euro rescue before the Federal Constitutional Court.

August von Finck was 91 years old.

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