Krupp, Friedrich

(1787–1826)

   Founder of the Krupp cast iron factory, Friedrich Krupp descended from an old family of merchants. Endowed with a vision and a considerable heritage from his grandmother, he founded a cast iron works outside Essen in the Ruhr area in 1811. The prospects of success seemed excellent: outside England, heavy steel products were not to be found in Europe. Krupp’s potential position in the market was further enhanced by Napoleon Bonaparte ’s Continental System, which blockaded European ports and more or less successfully kept out British exports. Despite these advantages, Krupp lacked essential entrepreneurial skills. His business fortunes resembled a roller coaster ride. In addition, Krupp ruined his health in his shop. When he died, at age 39, the factory was heavily in debt and Krupp employed no more than seven workmen.

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   FURTHER READING:

    Saur, Karl-Otto. Friedrich Krupp. Berlin: Ullstein, 1999;

    Schröder, Ernst. Krupp. Geschichte einer Unternehmerfamilie. Göttingen: Muster-Schmidt, 1991.

   ULRICH SCHNAKENBERG