The Industrialists Who Regretted Backing Hitler and the Nazis

Meteorology Matters examines the complex and ultimately self-destructive relationship between Adolf Hitler and wealthy German industrialists and media moguls who initially supported his rise to power, driven by a desire for profit and a fear of communism, but later faced dire consequences, including loss of power, imprisonment, and complicity in war crimes.

Key Ideas and Facts:

• Early Capitalist Distrust: In the 1920s and early 1930s, Hitler and the Nazi Party were generally viewed with suspicion by capitalists. The Nazi's platform was "belligerently nationalistisch but also unapologetically sozialistisch." Their 25-point platform explicitly targeted bankers, financiers, and industrialists, calling for nationalization and confiscation of profits.
• Key Enablers: Hugenberg and Thyssen: Despite initial capitalist distrust, some wealthy individuals provided crucial support.
• Alfred Hugenberg: A media mogul and industrialist who provided Hitler with "electoral capital" in January 1933, enabling his appointment as chancellor. Hugenberg used his media empire to disseminate National Socialist ideas, practicing "Katastrophenpolitik" (politics of catastrophe) to polarize public opinion. He initially believed he could control Hitler, stating, "Hitler will sit in the saddle but Hugenberg holds the whip." After being appointed to a cabinet post as head of a "Superministerium", Hugenberg tried to advance economic growth through territorial expansion, which ultimately led to his resignation from his minister post in June 1933.
• Fritz Thyssen: An heir to a leading industrial fortune, was an early and significant financier of the Nazi movement. He provided approximately 1 million reichsmarks and facilitated Hitler's address to industrialists in Düsseldorf in 1932, which resulted in "a number of large contributions flow[ing] from the resources of heavy industry into the treasuries of the National Socialist party.” Thyssen eventually regretted his support and ended up in a concentration camp.
• The Shift in Corporate Sentiment: As Hitler's power grew, the attitude of the capitalist class shifted. They began to see him as a bulwark against the left-wing Social Democrats and Communists. Banker Kurt Baron von Schröder provided Hitler with a crucial 30 million reichsmark credit line just before his appointment as chancellor.
• Göring's Fundraiser: On February 20, 1933, Hermann Göring hosted a fundraiser for the Nazi Party, attended by prominent industrialists and bankers, including Gustav Krupp von Bohlen and directors from I.G. Farben. Hitler himself attended, promising to restore the military, assert totalitarian control, and crush political opponents. The fundraiser generated 3 million reichsmarks. Göring stated that the upcoming election "will surely be the last one for the next 10 years, probably even for the next 100 years."
• Corporate Complicity: German corporations actively participated in building the Third Reich, with companies like Ferdinand Porsche (Volkswagen), Mercedes-Benz, Hugo Boss (SS uniforms), Krupp (armaments), and Allianz (insurance for concentration camps) contributing to the Nazi war machine.

Significance: The article serves as a cautionary tale about the dangers of prioritizing profit and short-term political gains over ethical considerations and the long-term consequences of supporting extremist ideologies. It highlights the complicity of corporate elites in the rise of totalitarian regimes and the devastating impact of their actions.