Word: arndt
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When financial woes forced the family-owned Krupp empire to become a public corporation, lawyers drew up a unique contract in which the late Alfried Krupp's son and sole heir, Arndt von Bohlen und Halbach, renounced his rights to a $500 million inheritance. In return, Arndt, for the rest of his life, would receive 2½% of the sales from Krupp's Rossenray coal mine, one of the richest in the Common Market. This year that stipend will amount...
...Married. Arndt von Bohlen und Halbach, 31, scion of the Krupp steel corporation who receives an allowance o $500,000 a year as a quitclaim on the empire founded by his great-great-grandfather; and Princess Henriette von Auersperg, 35, elegant blonde daughter of one of Austria's oldest (13th century) houses; both for the first time; in a civil ceremony in Blühnbach castle former retreat of Austrian Archduke Franz Ferdinand, whose assassination triggered World...
...coal or steel and began selling to new markets, especially in Eastern Europe and Asia. When the Krupp firm finally foundered in 1966, because of overextended credit, it was only because Alfried was clinging to old financial ways. He died soon after, and with him, the dynasty. His son Arndt, a wiK lowy jet-setter, who does not carry the Krupp name, sensibly had no stomach for the Krupp empire...
Humiliation. An austere man with few friends, Krupp had grown remote and bitter as life delivered its blows. One of these was his six-year imprisonment (1945-51) as a war criminal. Then there was his son Arndt, a limp fellow of 29 who renounced his inheritance last year, leaving the House of Krupp without an heir for the first time in five generations. Arndt's $250,000-a-year allowance (which now goes to $500,000) may have made the decision easy, but two weeks ago he said that the "Krupp tradition" had only "brought my forebears...
...marriage, which produced Arndt, ended in 1941, after Gustav threatened Alfried with disinheritance. Alfried's second marriage, to thrice-divorced Vera Hossenfeldt 15 months after his prison release in 1951, lasted five years...