this post was submitted on 10 Feb 2025
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[–] jjagaimo 6 points 1 day ago* (last edited 1 day ago)

Excerpt in the post plus from the wiki:

The New York Times expressed astonishment that Hugenberg, an “arch-capitalist” who stood “in strongest discord with economic doctrines of the Nazi movement,” was suddenly in charge of the country’s finances. Hitler’s “socialist mask” had fallen, the Communist daily Red Banner proclaimed, arguing that “Hugenberg is in charge, not Hitler!” The weekly journal Die Weltbühne dubbed the new government “Hitler, Hugenberg & Co.”

As self-proclaimed “economic dictator,” Hugenberg kept pace with Hitler in outraging political opponents and much of the public. He purged ministries. He dismantled workers’ rights. He lowered the wages of his own employees by 10 percent.

Hugenberg didn’t care about bad press. He was accustomed to being one of the most unpopular personalities in the country.

As a representative of the German National People's Party (DNVP), Hugenberg was a member of the Weimar National Assembly from 1919–20 and then of the German Reichstag until 1945. For many years he provided the majority of the DNVP's funds, and his influence dominated the right-wing press in Germany.[3] As the most influential voice in the DNVP's pan-German bloc, he opposed the Dawes Plan, which attempted to resolve the issues surrounding Germany's reparations payments, in the belief that a return to the economic chaos of hyperinflation would bring down the Republic. Hugenberg became chairman of the DNVP after the party's substantial losses in the 1928 Reichstag elections. He obtained "dictatorial" leadership powers and tried to transform the party into a "Hugenberg movement". He also shifted emphasis to the extra-parliamentary sphere with the aim of forcing the replacement of parliamentary government by an authoritarian regime.[2] His radicalism caused the DNVP to split, with many key industrialists leaving the party.[5]