born Nov. 9, 1873, Mülheim, Ger.
died Feb. 8, 1951, Buenos Aires, Arg.
German industrialist and financial backer of Adolf Hitler .
Thyssen entered the family iron, steel, and coal business and inherited his father's fortune and empire in 1926 (see Thyssen Krupp Stahl ). He created a family business trust that came to control more than 75% of Germany's ore reserves and employ 200,000 workers. Distressed by the rise of socialism in Germany, he supported Hitler and helped finance his rise to chancellor. But Thyssen opposed Hitler's later policies and fled to Switzerland in 1939, enabling Hitler to confiscate Thyssen's fortune (about $88 million). Thyssen was arrested in France (1941) and imprisoned by the Nazis. After the war, he was convicted as a "minor Nazi" and ordered to pay 15% of his property in restitution.