-Beginning of family
- First historical record of the family appearing in 1578 when Ardnt Krupp joined the merchants guild in Essen
- Ardnt died in 1624, his son Anton took over
- Began a gunsmithing operation, first instance of the families arms producing legacy
- Over the next century family kept acquiring property
- During the mid 18th century Friedrich Jodocus Krupp headed the family, married Helene Ascherfeld
- Jodocus died 6 years later, left business to his widow (first time in the family) she continued acquiring property, acquiring a filling mill, shares in 4 local mines and an iron forge.
-Friedrich Krupp
- Begin his career at 19 when his mother appointed him manager of the forge
- Inherited everything when his mother died
- Wanted discover secrets of cast steel
- Found Krupp Gusstahlfabrik in 1811, built a mill and foundry to power the facility on the Ruhr River
- Able to produce smelted steel in 1816
- Died Oct. 8 1826 in Essen
-Alfred Krupp
- Began working at 14 and quite school
- 1841 patented the spoon roller which gave him enough money to enlarge the factory
- began working on his first cast steel cannon in 1847 and in 1855 showed off his best cannon yet causing excitement in the engineering world and making factory famous
- In 1851 began selling railroad tyres which become the company's primary source of revenue
- Sold his first cannons to Prussia, after that continued expanding buying Spanish mines and Dutch shipping, making it the biggest company in Europe
- Died in 1887, had 75,000 employees and manufactured 24,576 guns
-Friedrich Alfred Krupp
- Skilled businessman
- 1890 developed nickel steel
- 1982 brought Grunson, became Krupp-Panzer and manufactured armored plate and ship turrets
- Rudolph Diesel brought his engine to him in 1893
- Bought Germaniawerft in 1896, became Germany's main warship builder and built the first U-boat in 1906
-Gustav Krupp
- 1911 bough Hamm Wireworks and began manufacturing barbed wire. !912 began manufacturing stainless steel
- Was selling 50% of its armaments to Germany and the rest to 52 other nations, the company was now invested worldwide and headquartered in Essen
- led the company through WW1
- After WW1 much of the company was dismantled as part of war reparations.
- Continued selling arms secretly for much of the beginning of the 20th Century
- Joined with the Nazis and expanded his employees from 35,000 to 112,000 employees
-Alfried Krupp
- Son of Gustav Krupp
- Joined the SS in 1931
- Took over tons of industries in occupied countires
- Used slave labor during the war
- After the war many of Krupps holdings were dismantled
- Eventually seen as vital to Germany's economy, Krupp was re-instituted
- Continued to acquire businesses and by 1959 had over 125,000 employees and was the fourth largest company in Europe and 12th in the world
- Improved public relations and took back the companies taken away from him as well as becoming the richest man in Europe
-After Alfrieds death
- Early in the 70's much of company was bought by the Iranian monarchy
- Restructured as a holding company in 1980's
- 1993 the company became publicly traded for the first time in its history
- In 1999 Krupp and Thyssen fully merged forming ThyssenKrupp AG.
- Company now specializes in steel. capital good and services.
The specific topic of business I chose to expand on was the Krupp family and their business empire that they had created. The families dynasty began in 1587 when Arndt Krupp began purchasing many properties and becoming one the wealthiest merchants in Essen. After a couple centuries the family began its steel working roots in 1810 and from there continued purchasing companies, selling different steels as well as beginning to manufacture weapons. The Krupp company during both WW1 and WW2 were the main sellers of weapons to Germany. After both wars much of the company's assets were dismantled both times leaving the company to be rebuilt. Sadly the company did become involved in Nazi crimes during WW2 including using slave labor. By 1959 the comapny was quite huge again. In 70's much of the company was bought up, became publicly traded in 1993 and in 1993 merged with Thyssen forming ThyssenKrupp AG. The Krupp's were incredible businessmen and innovators who forged and incredible empire the likes of which few could ever replicate.
Source http://en.wikipedia.org/wiki/Krupp
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