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The Mysterious Death of Alfred Loewenstein: The Man Who Fell From Sky

The story behind Alfred Loewenstein's Death

By Rare StoriesPublished 12 months ago 4 min read
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Alfred Loewenstein was one of the most successful financiers of the early 20th century. He was known for his innovative business strategies and investment philosophy, which helped him build a financial empire that spanned several industries.

However, his life was cut short by a mysterious disappearance that has remained unsolved to this day.

In the 1920s, Loewenstein's net worth was estimated to be around £12 million, which was a significant amount of money at that time. This made him one of the wealthiest individuals in the world, ranking as the third-richest person during that period.

The Beginning

Alfred Léonard Loewenstein was born on March 11, 1877, into a family of prestigious bankers with a long-standing history of wealth and influence.

Alfred went on to establish his own banking firm and by 1914, he had already amassed a significant amount of wealth, making him a wealthy individual in his own right.

Alfred Loewenstein had a keen eye for investment opportunities and invested in commodities like synthetic silk before they became highly valuable. He was also passionate about aviation and had logged hundreds of flights, earning him the nickname "the flying financier" of Belgium.

When World War I broke out, Alfred Loewenstein had already established himself as one of the most influential figures in Europe. This was clearly demonstrated when the Belgian government went into exile as a neutral country following Germany's invasion, and Loewenstein offered to purchase all of the country's debt himself for $50 million without interest in return for the right to print Belgian franc.

Despite his generous offer, the Belgian government declined Alfred Loewenstein's proposal. Following the end of the war, he continued to live in England and ran an investment business that established him as one of the most powerful financiers in Europe.

Alfred Loewenstein's Story

Loewenstein's investment philosophy was based on the idea of diversification. He believed that by investing in a variety of industries and companies, he could spread the risk and minimize the impact of any losses. He also believed in investing for the long term, rather than trying to make quick profits. This approach helped him build a large and diverse investment portfolio that included everything from aviation to mining to real estate.

Alfred Loewenstein amassed a significant fortune through his Belgian-based company, Société Internationale d'Énergie Hydro-Électrique, which specialized in providing hydroelectric power facilities to developing countries across the world.

By the mid-1920s, Alfred Loewenstein had built such a strong reputation that he was regularly consulted by heads of state from around the world. In recognition of his contributions, the British government awarded him the title of Companion of The Most Honourable Order of the Bath.

Loewenstein's horse won

In addition to his successful career as a financier, Alfred Loewenstein was also the owner of a thriving stable of thoroughbred steeplechase racehorses. His horses won the prestigious Grand Steeple-Chase de Paris in both 1926 and 1928.

Alfred Loewenstein's Mysterious End

In the evening of July 4, 1928, Alfred Loewenstein departed from Croydon Airport on his private aircraft bound for Brussels. Accompanying him on the flight were six other individuals.

A look inside the artistic representation of Loewenstein aircraft

During the flight, when the aircraft had reached an altitude of 4,000 ft (1,200 m) while crossing the English Channel, Alfred Loewenstein went to the rear of the aircraft to use the lavatory. In Loewenstein's aircraft, there was a short passage at the rear of the main passenger cabin with two doors - the door on the right led to the lavatory, while the one on the left was the entrance door to the aircraft.

When Alfred Loewenstein had not returned after a considerable amount of time, his secretary went to search for him and found that the lavatory was empty.

They also noticed that the entrance door to the aircraft was open and flapping in the wind. Loewenstein's secretary and the other passengers on board believed that he had fallen out of the aircraft's rear door and plunged several thousand feet to his death in the English Channel.

The Last know photo of Loewenstein

The French military, which occupied the territory, took custody of the aircraft and questioned all six passengers on board. On July 12, the British Air Ministry conducted tests on the plane and determined that it would have been impossible to open the rear door without the slipstream slamming it shut.

Following the news of Alfred Loewenstein's tragic death, there was a widespread panic among investors, leading to a significant sell-off of shares in his corporations. As a result, the publicly-traded shares of his companies plummeted in value by more than fifty percent almost immediately.

Loewenstein's private aircraft

Alfred Loewenstein's body was found near Boulogne on July 19, 1928, and was transported to Calais by fishing boat. His identity was confirmed by his wristwatch, and his family requested an autopsy to dispel any rumors of foul play or poisoning. The autopsy revealed that Loewenstein had a partial skull fracture and several broken bones. It was concluded that he was still alive when he fell into the water.

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