|
Camillo Castiglioni | |
|---|---|
| Born | Oct. 22, 1879 |
| Died | Dec. 18, 1961 |
| Nationality |  Austrian |
| Other names | "CC" |
| Education | Business and Tax Law |
| Occupation(s) | Financier; Industrialist |
| Known for | Critical contributions to BMW AG in its early years; wealthiest man in Central Europe |
| Notes | |
Camillo Castiglioni(b.1879 in Trieste, Austria; d.1961 in Rome, Italy) was an Austrian banker, sometimes called a financial magician. He lived in Austria. Castiglioni became rich in ventures during the period of inflation, acquiring a majority interest in Alpine Montan AG. The Austrian aviation company Österreichische Luftfahrtsgesellschaft was founded by him. He helped Franz Josef Popp to found BMW.
Castiglioni built up a large art collection and a theater in Vienna.
Because of his famous banking activities, his life was documented in a 1988 movie on television titled "Camillo Castiglioni oder die Moral der Haifische", directed by Peter Patzak.
Castiglioni, Camillo, b. Trieste (Italy), Oct. 22, 1879, d. Rome (Italy), Dec. 18, 1957, banker. Manager of the Semperit rubber company before World War I, 1921 acquired the majority of stocks of the Alpine Montan AG, which he later ceded to the German Stinnes group; also founded the Austrian aviation company "Österreichische Luftfahrtsgesellschaft". Became rich in ventures during the period of inflation and built up a large art collection, in 1923 made a theatre in Vienna available to M. Reinhardt.
Early Life
editKnown as "CC", a nickname that Emperor Franz Joseph jocularly threatened to exchange for the "K and K" of his monarchy. Studied law. Attorney and legal officer of a bank in Padua. Agent for Kaufmann automobile tires in Constantinople. Manager of the export department of the Austro-American Gummiwarenfabrik AG (rubber products) in Vienna. Later deputy and full director of that company. 1907 Established the Motor-Luftfahrzeuggesellschaft GmbH. During the First World War, became one of the richest and most influential financiers in Central Europe. 1918 Became an Italian citizen. 1914 Purchased the German aircraft company Hansa- und Brandenburgische Flugzeugwerke, which employed Ernst Heinkel as its chief designer. Acquired a majority holding in Austro-Daimler with its chief designers Puch and Porsche. The first major investor in the series production of aircraft. Press "Czar" and sponsor of the arts (financed Max Reinhardt and helped him to organize the Salzburg Festival). After a series of setbacks, his financial empire broke up in 1926. He retired to Switzerland, then to Milan where he set up a private bank and once again amassed a considerable fortune. After the Second World War, negotiated a large US loan for his friend Tito in Yugoslavia. When Tito refused to pay his commission, Castiglioni succeeded in getting Yugoslavian assets in Italy worth millions sequestered. 1916 Awarded the Franz Joseph Order with ribbon on the Military Service Cross for his services to aviation 1918 with the St-Georges Order for his achievements in the war material production. Died in Rome.
Functions at BMW
editSignificantly influenced the development of BMW AG in its early years. The granting of a license agreement by Austro-Daimler to the Rapp-Werke in 1917 was partly attributable to Castiglioni. 1918 At Castiglioni's insistence the Wiener Bankverein (Vienna) acquired the majority of BMW's share capital. 1922 Castiglioni purchased all the equipment relating to engine construction, the associated know-how and the rights to the name "Bayerische Motoren Werke AG" from the BMW AG, which was renamed Süddeutsche Bremse AG. Castiglioni in turn renamed the Bayerische Flugzeugwerke to BMW AG and allowed the renamed company to continue production at the BFW plant. >From the establishment of BMW AG until November 9, 1922 and then from 1924 to 1929, he was a member of the Supervisory Board and President of BMW AG. 1928 Deputy Chairman of the Supervisory Board.
His was one of the voices that urged BMW in 1928 to purchase the Eisenach Automobilwerke. Due to financial difficulties in 1929 he was obliged to surrender his holding of BMW shares to a consortium of banks (Deutsche Bank, Disconto, Banhkaus Hagen etc.).
A consortium led by the Deutsche Bank and the Diskonto-Gesellschaft purchased the BMW shares previously held by Camillo Castiglioni, who was facing problems of liquidity.
Facts
editCamillo Castiglioni, "Austrian Stinnes," went bankrupt. A few years ago he was a comparatively poor man, but through the depreciation of the crown he amassed a fortune reckoned in tens of millions of dollars.
He was the richest man in Central Europe and much beloved by the Viennese whom he assisted financially on sundry and odd occasions. He was also a patron of the arts and for some time supported the famed producer Max Reinhardt, for whom he built a theatre. So fond was he of appearing in the public limelight that he lived with all the pomp and ceremony of royalty, even traveling in the Kaiser Karl's private parlor car, which he bought.
The Castiglioni crash was not unexpected, either by the public or by Castiglioni who, as his name indicates, is an Italian, and who, when the crash came, had taken care to be in Italy, where (so it was rumored) he had kept himself popular by supporting the Fascisti.
The precise nature of the causes of the crash were obscure. A warrant for his arrest on a charge of fraud was, however, issued; but the bird had flown, allegedly with securities of high value. The Austrian State said that if he deposited $4,200,000, he could return unmolested.[1]
- ^ Time Magazine, Monday, Oct. 06, 1924
See also
edit[[Category:BMW]] [[Category:1879 births]] [[Category:1961 deaths]] [[Category:Austrian]] [[Category:]] [[Category:]]