How Arnold Moller found wealth in shipping

On this day, October 2 in the year 1876, the magnate who built the largest shipping company was born in Dragor, a suburb of Copenhagen, Denmark. His name was Arnold Peter Moller, founder of the A.P. Moller-Maersk Group.

Arnold Moller
Arnold Moller (Credit: wiki commons)

Arnold’s mother belonged to a family who was involved in the shipping industry. His father was a ship captain. In 1904, Arnold and his father formed their own shipping company after a dispute with his relatives over the family shipping business. In 1912, he left his father and established his personal shipping firm. He expanded his company by establishing offices in the United Kingdom as well as Japan and Hong Kong. In 1928, he purchased five tankers and founded the Maersk Line to take advantage of the growing trade in oil. His shipping business grew to become the largest in Denmark at the outbreak of World War II. Later, he put up a shipbuilding subsidiary.

Outside the shipping industry, Arnold Moller invested in a company to drill oil in the North Sea. This company grew up to become the Maersk Oil. He also teamed up with Herman Salling to put up a supermarket which branched out to all parts of the country and became the largest retailer in Denmark.

Arnold Moller died in 1965 at the age of 88. He had two sons and two daughters with his American wife Chastine Mc-Kinney. After his death, his son took over management. At present, A.P. Moller–Maersk Group is a large shipping and logistics conglomerate operating in 125 countries with annual revenues of more than $45 billion and employees of more than 88,000. It owns the largest container ships and operates several container terminals.


Any comment?

This site uses Akismet to reduce spam. Learn how your comment data is processed.