Stinnes, Hugo (1870–1924)

German industrial magnate. He became a proprietor of mines, and established depots on the North, Baltic, Mediterranean, and Black Seas. During World War I, he acquired large holdings in iron mines, steamship lines, newspapers, and hotels, and achieved immense power in German economic life, his largest concern being the Siemens-Rheinelbe-Schuckert Union. This, under Hitler, became a principal component of the armament and engineering industries. Stinnes was born in Mulheim, Germany.