Even the tax office doesn't receive a transfer like this every day: the heirs of industrialist Heinz Hermann Thiele have paid four billion euros to the Bavarian tax office - the highest inheritance tax payment in the history of Germany. But while the money is ringing in the coffers, a politically explosive question arises: who gets what from this mega inheritance - and what actually happens to it?
From entrepreneur to multi-billionaire
Heinz Hermann Thiele was not a man of small potatoes. The Munich-based entrepreneur built Knorr-Bremse into the global market leader for braking systems, invested in rail technology at Vossloh, saved himself from the limelight as a major shareholder in Lufthansa - and had real estate, cattle and avocados all over the world. His fortune is said to have amounted to around 15 billion euros when he died suddenly in 2021.
What sounded like an orderly estate turned into a tax disaster due to a legal delay: Thiele actually wanted to bundle his assets in a foundation - but this was only recognized after his death. The result: no tax structuring, no reduction - but a full program for the tax authorities. And the taxman is happy about four billion euros.
Inheritance dispute included: When the last will and testament comes too late
As is so often the case with large estates, it didn't work without a dispute. Thiele's widow, son Hendrik and the appointed executor Robin Brühmüller first had to come to an agreement before the state could even collect. The delayed foundation not only meant an increased tax burden - it also deprived the family structure of the planned control.
The lesson? Even with billions in assets, one late bureaucratic step can change everything - and a foundation that is only a few months late can cost more than some medium-sized towns spend in a whole year.
What to do with four billion? Politicians already have ideas
As soon as the windfall became public, the first political voices were raised - above all the Greens. Claudia Köhler from the Bavarian state parliament called for the money to be invested immediately: in dilapidated school toilets, empty swimming pools and weakening local transport. "It is not an option for the state government to stash the money away until next year in order to finance election gifts in the local elections," she warns. The demand: a second supplementary budget, immediately.
It remains to be seen whether the money will actually flow directly to the municipalities or seep into the Bavarian budget. After all, the state financial equalization system is also likely to want a slice of the cake.
RECHT 24/7 says: If even billionaires can't outsmart the tax authorities - what can we learn from this?
Four billion euros in taxes - that is not only a record, but also a clear signal: those who plan, save. If you plan too late, you pay. The fact that even an experienced entrepreneur like Thiele fails with his foundation shows: German tax law is merciless - even for billionaires. And for once, we think that's a really good thing.
After all, if multi-billionaires were able to park their billions bypassing the general public, it would not only be unfair - it would be dangerous for trust in the state. So: Chapeau to the Kaufbeuren tax office. And to everyone else with a few zeros in their account: Now is a good time to tackle estate planning before your last breath.
P.S.: Perhaps some of the four billion would also be well invested in public inheritance advice - before the next family war starts.
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