With no heirs, Kühne’s Swiss foundation gets $49 billion fortune

Klaus-Michael Kühne’s death signals the end of a swashbuckling dealmaking era for the German tycoon’s empire while transferring his $49 billion fortune to a low-key Swiss foundation. As part of a longstanding succession plan, Kühne’s portfolio spanning shipping, aviation, chemicals and real estate will ultimately be owned by the Kühne Foundation, making it one of Europe’s largest. It’s overseen by a board of trustees that includes some of Kühne’s closest advisers and wife. At its heart is…