Why doesn’t billionaire Cohen want to invest in artificial intelligence?

Until he was overtaken by Lidl founder Dieter Schwarz, he was long considered the richest German: Klaus Michael Kuehne. The 86-year-old logistics billionaire is said to be loud “Forbes” Assets amounting to approximately 31 billion euros. His logistics group Kühne + Nagel, founded by his grandfather, employs about 80,000 people. The company is a leading global logistics company providing transportation and warehousing solutions to various industries. But Kuehne is better known because he invested in the sports club Hamburger SV.

A large portion of his wealth comes from the publicly traded stocks he owns. In addition to his shares in Kühne + Nagel, he owns a 30% stake in the shipping company Hapag-Lloyd and is the largest shareholder in Lufthansa with 17.5%.

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Now Kuehne is speaking out because he wants to save the port of Hamburg. He also spoke in an interview with “had won” About his investments and the Credit Suisse crisis.

For him, artificial intelligence is “technologically demanding.”

Germany is facing a difficult economic situation, but Kühne + Nagel, as a logistics group, is not suffering as much as other companies, says Kühne. The billionaire does not want to invest in new technologies such as artificial intelligence and nuclear fusion, because he finds them too “technologically demanding”. He is interested in the medical pharmaceutical sector, among other things, in order to diversify the portfolio of his holding company.

Klaus Michael Kuehne losses due to the Credit Suisse crisis

Due to the crisis of the large Swiss bank, Credit Suisse, it lost about 1.2 million francs (about 1.25 million euros). There was no justification for CS to be wasted in this way and he complained about this to UBS, which took over CS. He talked about the repercussions of the crisis inhad won”: When it comes to the stability of banks, people are becoming more concerned. Now there is only one major bank, UBS, and it is very powerful.

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