Mærsk Mc-Kinney Møller
Encyclopedia
Arnold Mærsk Mc-Kinney Møller, (born 13 July 1913) is a Danish
shipping
magnate
.
– founder of the A.P. Moller – Maersk Group – and an American, Chastine Estelle Roberta McKinney. He was married to his high-school sweetheart Emma Neergaard Rasmussen from 1940 until her death in 2005. They have three daughters: Leise Mærsk Mc-Kinney Møller (born 1941), Kirsten Mærsk Mc-Kinney Olufsen (born 1944), and Ane Mærsk Mc-Kinney Uggla (born 1950).
Møller went into exile in the United States
and ran the family business from New York until his return to Denmark in 1947. Møller became CEO and chairman on his father's death in 1965.
For details on his activities, see History of Maersk#1965 - 1993: Mærsk Mc-Kinney Møller takes the helm.
In 1970, Møller became the first non-American member of the board of IBM
, a position he held until 1984.
Møller stepped down as CEO in 1993 in favor of Jess Søderberg, but stayed on as chairman of the board until 2003 when – age 90 – he retired completely. He still personally controls a substantial portion of the company's shares. He is generally considered one of the most respected industrialists in Denmark, even admired by many.
He is currently Denmark's second-richest man after Kjeld Kirk Kristiansen
, according to Forbes List of Billionaires 2007.http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_CountryOfCitizen_4.html This is disputed by the Danish financial magazine Berlingske Nyhedsmagasin, which places Møller as number one in Denmark and estimates his fortune in 2006 as 141.2 billion DKK, and his personal wealth to 7.0 billion DKK. Most of Møller's fortune is placed in foundations controlling the A.P. Moller – Maersk Group, in which he holds a controlling interest.http://www.bny.dk/cgi-bin/dyn/show.nytfrabny.mpl?id=162
resources below Denmark, rendering a monopoly
-like status to Maersk. The 40 year agreement was renewed in 2003, causing some discussion. The levy paid to the state is not influenced by fluctuating oil prices, meaning Maersk can get a much larger profit in times with high oil prices. Also, the levy is just 69 percent, while Norway has 80 percent, and Britain raised the oil levy in 2006 because of high prices. According to the newspaper Information on 4 November 2007, the oil price since the agreement of 2003 had risen from 22 to 96 USD per barrel, meaning the company would in forty years not just earn the expected profit of 87 billion kroner, but 346 billion kroner. Government parties have however declined to change the agreement or raise the oil levy.
The oil and gas is reclaimed by Mærsks Olie og Gas A/S and Dansk Undergrunds Consortium (DUC), owned by A.P. Møller – Mærsk A/S (39%), a subcompany of Royal Dutch Shell
(46%) and Chevron
Denmark Inc. (15%).
The A.P. Møller – Mærsk company is a major contributor to the Conservative People's Party
and Venstre
, the two parties forming Denmark's governing coalition from 2001 to 2011. Smaller contributions have been paid to other right-of-centre parties, including the Danish Social Liberal Party, Danish People's Party
, and formerly the Centre Democrats and the Progress Party
.
Through two large family-controlled foundations Møller has made substantial donations to causes both in Denmark and abroad, including the new Copenhagen Opera House directly across the harbour from the royal residence, Amalienborg Palace
, and within sight from his corporate headquarters. It should be noted, however, that he incurred no real expenses from this as the Danish state paid the vast majority of the construction costs.. He also donated Amaliehaven, a park between the Palace and the harbour. Other gifts include major donations to restore the frigate Jylland
, to The Old Town, Aarhus
, for the Rembrandt exhibition at Statens Museum for Kunst
; for renovations at Kastellet
, for the construction of the A. P. Møller High School
in Schleswig
, Germany (for the Danish minority
), for the Ansgar Church for the Danish minority in Flensburg
, Germany, and for The Møller Centre for Continuing Education at Churchill College, Cambridge
.
; he is the only person who is neither royal nor a head of state to currently hold this honour (the nuclear physicist Niels Bohr
and founder of the East Asiatic Company
Hans Niels Andersen
held the same order), which grants him the title His Excellency.
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
magnate
Business magnate
A business magnate, sometimes referred to as a capitalist, czar, mogul, tycoon, baron, oligarch, or industrialist, is an informal term used to refer to an entrepreneur who has reached prominence and derived a notable amount of wealth from a particular industry .-Etymology:The word magnate itself...
.
Personal life
Møller is the son of Arnold Peter MøllerArnold Peter Møller
Arnold Peter Møller, commonly known as A. P. Møller, was a Danish shipping magnate, businessman who was the founder of the A.P. Moller-Maersk Group in 1904.-Biography:...
– founder of the A.P. Moller – Maersk Group – and an American, Chastine Estelle Roberta McKinney. He was married to his high-school sweetheart Emma Neergaard Rasmussen from 1940 until her death in 2005. They have three daughters: Leise Mærsk Mc-Kinney Møller (born 1941), Kirsten Mærsk Mc-Kinney Olufsen (born 1944), and Ane Mærsk Mc-Kinney Uggla (born 1950).
Business activities
Møller became a partner in the A.P. Moller – Maersk Group in 1940. When Denmark was occupied by Germany during World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
Møller went into exile in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and ran the family business from New York until his return to Denmark in 1947. Møller became CEO and chairman on his father's death in 1965.
For details on his activities, see History of Maersk#1965 - 1993: Mærsk Mc-Kinney Møller takes the helm.
In 1970, Møller became the first non-American member of the board of IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, a position he held until 1984.
Møller stepped down as CEO in 1993 in favor of Jess Søderberg, but stayed on as chairman of the board until 2003 when – age 90 – he retired completely. He still personally controls a substantial portion of the company's shares. He is generally considered one of the most respected industrialists in Denmark, even admired by many.
He is currently Denmark's second-richest man after Kjeld Kirk Kristiansen
Kjeld Kirk Kristiansen
Kjeld Kirk Kristiansen was the president and CEO of LEGO between 1979 and 2004.-Biography:Kjeld was born 27 December 1947 in Billund, Denmark. His father, Godtfred Kirk Christiansen worked with his grandfather, Ole Kirk Christiansen, in the family business: LEGO. As a child, he often inspired...
, according to Forbes List of Billionaires 2007.http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_CountryOfCitizen_4.html This is disputed by the Danish financial magazine Berlingske Nyhedsmagasin, which places Møller as number one in Denmark and estimates his fortune in 2006 as 141.2 billion DKK, and his personal wealth to 7.0 billion DKK. Most of Møller's fortune is placed in foundations controlling the A.P. Moller – Maersk Group, in which he holds a controlling interest.http://www.bny.dk/cgi-bin/dyn/show.nytfrabny.mpl?id=162
North Sea oil
In 1962, A.P. Møller – Mærsk A/S was granted concession to survey and exploit oil and natural gasNatural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
resources below Denmark, rendering a monopoly
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
-like status to Maersk. The 40 year agreement was renewed in 2003, causing some discussion. The levy paid to the state is not influenced by fluctuating oil prices, meaning Maersk can get a much larger profit in times with high oil prices. Also, the levy is just 69 percent, while Norway has 80 percent, and Britain raised the oil levy in 2006 because of high prices. According to the newspaper Information on 4 November 2007, the oil price since the agreement of 2003 had risen from 22 to 96 USD per barrel, meaning the company would in forty years not just earn the expected profit of 87 billion kroner, but 346 billion kroner. Government parties have however declined to change the agreement or raise the oil levy.
The oil and gas is reclaimed by Mærsks Olie og Gas A/S and Dansk Undergrunds Consortium (DUC), owned by A.P. Møller – Mærsk A/S (39%), a subcompany of Royal Dutch Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
(46%) and Chevron
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
Denmark Inc. (15%).
The A.P. Møller – Mærsk company is a major contributor to the Conservative People's Party
Conservative People's Party (Denmark)
The Conservative People's Party , also known as Conservatives is a Danish political party.-History:The party was founded 1915 based mostly on its predecessor, Højre , but also on the Free Conservatives and a moderate faction of Venstre , the liberals.The party has participated in several coalition...
and Venstre
Venstre (Denmark)
VenstreThe party name is officially not translated into any other language, but is in English often referred to as the Liberal Party. Similar rules apply for the name of the party's youth wing Venstres Ungdom. , full name Venstre, Danmarks Liberale Parti , is the largest political party in Denmark...
, the two parties forming Denmark's governing coalition from 2001 to 2011. Smaller contributions have been paid to other right-of-centre parties, including the Danish Social Liberal Party, Danish People's Party
Danish People's Party
The Danish People's Party is a political party in Denmark which is frequently described as right-wing populist by political scientists and commentators. The party is led by Pia Kjærsgaard...
, and formerly the Centre Democrats and the Progress Party
Progress Party (Denmark)
The Progress Party is a political party in Denmark, which was founded in 1972. Its founder, the former lawyer Mogens Glistrup, gained huge popularity in Denmark after he appeared on Danish television, showing that he paid 0 % in income tax...
.
Donations
Amalienborg Palace
Amalienborg Palace is the winter home of the Danish royal family, and is located in Copenhagen, Denmark. It consists of four identical classicizing palace façades with rococo interiors around an octagonal courtyard ; in the centre of the square is a monumental equestrian statue of Amalienborg's...
, and within sight from his corporate headquarters. It should be noted, however, that he incurred no real expenses from this as the Danish state paid the vast majority of the construction costs.. He also donated Amaliehaven, a park between the Palace and the harbour. Other gifts include major donations to restore the frigate Jylland
Jylland (ship)
Jylland is the world's last screw-propelled steam frigate. During the Second War of Schleswig in 1864, it participated in the naval action against the Austrian-Prussian fleet in the Battle of Heligoland on 9 May 1864...
, to The Old Town, Aarhus
The Old Town, Aarhus
The Old Town in Aarhus, Denmark , is an open-air village museum consisting of 75 historical buildings collected from 20 townships in all parts of the country. In 1914 the museum opened for the first time as the world's first open-air museum of its kind and to this day it remains one of just a few...
, for the Rembrandt exhibition at Statens Museum for Kunst
Statens Museum for Kunst
Statens Museum for Kunst is the Danish national gallery located in Copenhagen....
; for renovations at Kastellet
Kastellet, Copenhagen
Kastellet, located in Copenhagen, Denmark is one of the best preserved fortifications in Northern Europe. It is constructed in the form of a pentagram with bastions at its corners...
, for the construction of the A. P. Møller High School
A. P. Møller School
The A. P. Møller School is a Danish gymnasium in Schleswig , Southern Schleswig, Germany. Inaugurated in September 2008, it was a gift to the Danish minority of Southern Schleswig from the A. P. Møller Foundation....
in Schleswig
Schleswig
Schleswig or South Jutland is a region covering the area about 60 km north and 70 km south of the border between Germany and Denmark; the territory has been divided between the two countries since 1920, with Northern Schleswig in Denmark and Southern Schleswig in Germany...
, Germany (for the Danish minority
Danish minority of Southern Schleswig
The Danish ethnic minority in Southern Schleswig, Germany, has existed by this name since 1920, when the Schleswig Plebiscite split German-ruled Schleswig into two parts: Northern Schleswig, with a Danish majority and a German minority was united with Denmark, while Southern Schleswig remained a...
), for the Ansgar Church for the Danish minority in Flensburg
Flensburg
Flensburg is an independent town in the north of the German state of Schleswig-Holstein. Flensburg is the centre of the region of Southern Schleswig...
, Germany, and for The Møller Centre for Continuing Education at Churchill College, Cambridge
Churchill College, Cambridge
Churchill College is a constituent college of the University of Cambridge, England.In 1958, a Trust was established with Sir Winston Churchill as its Chairman of Trustees, to build and endow a college for 60 fellows and 540 Students as a national and Commonwealth memorial to Winston Churchill; its...
.
Destinctions and accolades
Møller is a knight of the Danish Order of the ElephantOrder of the Elephant
The Order of the Elephant is the highest order of Denmark. It has origins in the 15th century, but has officially existed since 1693, and since the establishment of constitutional monarchy in 1849, is now almost exclusively bestowed on royalty and heads of state.- History :A Danish religious...
; he is the only person who is neither royal nor a head of state to currently hold this honour (the nuclear physicist Niels Bohr
Niels Bohr
Niels Henrik David Bohr was a Danish physicist who made foundational contributions to understanding atomic structure and quantum mechanics, for which he received the Nobel Prize in Physics in 1922. Bohr mentored and collaborated with many of the top physicists of the century at his institute in...
and founder of the East Asiatic Company
East Asiatic Company
The East Asiatic Company was founded by Hans Niels Andersen in Copenhagen in 1897. Service which would eventually include both passenger and freight lines between the Danish capital, Bangkok and the far east was the initial objective. Routes to include the Baltic and Black Seas were...
Hans Niels Andersen
Hans Niels Andersen
Hans Niels Andersen was a Danish shipping magnate, businessman and founder of the East Asiatic Company....
held the same order), which grants him the title His Excellency.