Max Warburg
Max Warburg | |
|---|---|
 Max Warburg in 1904 | |
| Born | June 5, 1867 |
| Died | December 26, 1946 (aged 79) |
| Occupation | Banker |
Max M. Warburg (5 June 1867 – 26 December 1946) was a Jewish / German banker. He was a scion of the illustrious Warburg family of Altona.
Life
He developed apprenticeships in Frankfurt, Amsterdam, Paris, and London. He developed the HAPAG company with Albert Ballin. [1]
From 1910 until 1938, he was director of M. M. Warburg & Co. in Hamburg, Germany. As head of that firm, he advised Kaiser Wilhelm II prior to World War I.
In the 1930s, despite the rise of the Nazi Party, Warburg felt there was hope for the future in Germany and tried to wait out the Nazi crisis. Beginning in 1933 he served on the board of the German Reichsbank under governor Hjalmar Schacht. The bank provided Haavara transfer payments to emmigrating Jews to Palestine.[2] He sold the bank because the 1935 Nuremberg laws set the framework and campaign of “Aryanization”.
Warburg was also on the board of a major industrial conglomerate, IG Farben, which had been originally formed by the Rothschilds in 1925, together with other foreign Anglo-American interests. Warburg was ousted from the board in 1938, out of fears his Jewish ethnicity would allow the company to be confiscated and seized as a "Jewish Company."[3] (IG Farben was the German chemical firm that produced Zyklon B gas used in Nazi extermination camps). He then emigrated to the United States in 1938.
Family
His brother Paul Warburg was the chief architect of the Federal Reserve Board in the United States.
Max Warburg married Alice Magnus in 1899, and together they had four daughters and a son, Eric Warburg (1900—1990), founder of E.M. Warburg & Co, later known as Warburg Pincus.
See also
References
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