
The Holocaust refers to the systematic, state-sponsored persecution and mass murder of six million Jews and millions of others by Nazi Germany and its collaborators in the years before and during World War II.
I want to focus on one element of state-sponsored persecution in this blog, the Aryanization.
The Aryanization of Jewish properties was a systematic process of expropriation that played a central role in the economic and ideological objectives of Nazi Germany. Beginning in the 1930s and intensifying during World War II, this policy involved the forced transfer of Jewish-owned businesses, real estate, and assets to “Aryan” ownership. The process was part of the broader Nazi goal to eliminate Jews from the German economy and society, leading to their eventual annihilation in the Holocaust. Aryanization was marked by widespread theft, coercion, and violence, and its consequences reverberate to this day.
Aryanization was deeply rooted in Nazi racial ideology, which viewed Jews as an inferior and parasitic race. The Nazi regime sought to create a racially pure “Volksgemeinschaft” (people’s community), free from Jewish influence. Economically, Aryanization was a way to “purify” German business and society by removing Jewish ownership and control. The Nazis framed this theft as a legal and moral necessity, justifying their actions through a mix of anti-Semitic propaganda and pseudo-legal measures.
The Aryanization of Jewish property occurred in two main phases: voluntary Aryanization and forced Aryanization.
- Voluntary Aryanization (1933-1938): Initially, Aryanization involved the coerced sale of Jewish businesses at below-market prices. Jewish business owners were pressured, often through boycotts or legal harassment, to sell their assets to non-Jewish Germans, typically at prices far below their actual value. Many Jews, facing escalating anti-Semitic laws and persecution, felt they had no choice but to sell their properties to “Aryan” buyers. Although these transactions were technically legal, they were conducted under severe duress.
- Forced Aryanization (1938-1945): After the Kristallnacht pogrom in November 1938, the Aryanization process became more aggressive and violent. Jewish property was increasingly confiscated outright, with little or no compensation. Jewish businesses were forcibly taken over, and Jewish owners were often arrested, deported, or sent to concentration camps. The property of Jews who fled the country was also seized by the state. In occupied territories, this process was even more brutal, as Jewish assets were looted, and their owners were murdered or deported.

The Aryanization of Jewish property not only impoverished the Jewish community but also enriched many ordinary Germans and corporations who benefited from this massive transfer of wealth. The process contributed to the broader Nazi goal of genocide, as it left Jewish families destitute and further isolated. After World War II, the issue of restitution became a significant legal and moral challenge. Many Aryanized properties were never returned to their original owners, and the process of restitution remains incomplete even today.
The Aryanization of Jewish properties was an integral part of the Nazi regime’s campaign of anti-Semitic terror. It was not just a policy of theft but a key element in the Nazis’ broader goal of erasing Jewish presence from Europe. The examples of Aryanization, from large enterprises like the Rothschild Bank to small family businesses, illustrate the extensive scope of this policy. The lasting impact of Aryanization serves as a reminder of the profound injustices perpetrated during the Holocaust and the need for ongoing remembrance and restitution.
Below is a list of some of the companies which were subjected to Aryanization.
The Aryanization process affected a wide range of Jewish businesses, properties, and assets across Nazi Germany and occupied Europe. Below is an extensive list of examples covering various sectors such as banking, retail, manufacturing, and real estate, as well as different countries and regions.
Germany
- Hertie Department Store Chain: Originally owned by the Jewish Tietz family, this retail chain was one of the first major businesses to be Aryanized. The family was forced to sell the business under duress in 1933, and it was renamed Hertie.
- Berliner Tageblatt Newspaper: A prominent liberal newspaper owned by the Jewish Ullstein family, it was forcibly Aryanized in 1934. The family was stripped of ownership, and the newspaper was taken over by the Nazi regime.
- Siemens & Halske AG: Jewish shareholders and board members were forced out in the 1930s, with their shares confiscated and transferred to Aryan ownership.
- IG Farben: Although not initially Jewish-owned, IG Farben actively participated in Aryanization by acquiring Jewish businesses and properties at below-market prices during the 1930s and 1940s.
- Salamander Shoes: Originally a Jewish-owned company, Salamander was Aryanized in the late 1930s when its Jewish owners were forced to sell under duress.
- Kaufhaus des Westens (KaDeWe): One of the largest department stores in Berlin, owned by Jewish businessman Adolf Jandorf, was Aryanized in 1933.

7. Bankhaus J. H. Stein: A Jewish-owned private bank in Cologne, it was Aryanized in 1934 when the Jewish Stein family was forced to sell its shares.
8. Mendelssohn & Co. Bank: This prestigious Jewish bank in Berlin was Aryanized in 1938, with its assets taken over by Deutsche Bank.
9. Deutsche Werke AG: A major German shipbuilding company that took over several Jewish-owned businesses during the Aryanization process.
10. Dr. Oetker: The food company participated in Aryanization by acquiring Jewish-owned businesses, particularly in the food and beverage industry.
11. Karstadt AG: Another large department store chain, Karstadt, expanded its business by taking over several Jewish-owned competitors during the Aryanization period.
12. Rosenthal AG: A Jewish-owned porcelain company in Bavaria, Aryanized in 1934, a tragic event that led to the loss of a significant part of the Jewish heritage when its founder, Philipp Rosenthal, was forced out of the business.
Austria
- Rothschild Bank: Following the Anschluss in 1938, the Rothschild family’s banking empire in Vienna was Aryanized. Louis Nathaniel von Rothschild was held hostage until he agreed to relinquish control of the bank.
- Mautner Markhof Brewery: A leading brewery in Vienna, owned by a Jewish family, was Aryanized after the Anschluss, with the assets transferred to non-Jewish owners.
- Viktor Zuckerkandl’s Sanatorium Purkersdorf: A famous sanatorium and cultural hub in Vienna, Aryanized after its owner, Viktor Zuckerkandl, was forced to flee Austria.
- Austria Tabak: The state tobacco monopoly, partially owned by Jewish families, was Aryanized in 1938 when the Jewish shareholders were forced to sell their stakes.
- Bodencreditanstalt: A central Jewish-owned bank in Austria, Bodencreditanstalt was Aryanized after the Anschluss and the state seized its assets.
France
- Banque Lazard: The Paris branch of this Jewish-owned investment bank was Aryanized during the German occupation, with the assets transferred to collaborators..
- Galeries Lafayette: A famous Parisian department store initially owned by the Jewish Lévy family, was Aryanized in 1941, and control was transferred to non-Jewish administrators.
- Banque de Paris et des Pays-Bas (Paribas): Jewish shareholders were forced out during the occupation, with their shares transferred to Aryan ownership.
- René Bousquet’s Real Estate Holdings: Jewish-owned properties across Paris were seized and Aryanized by Nazi collaborators during the occupation.
The Netherlands
- Otto Frank’s Opekta and Pectacon Companies: Anne Frank’s father, Otto Frank, owned two companies that were Aryanized during the occupation. He transferred ownership to non-Jewish friends to protect the businesses.

2. Lippmann, Rosenthal & Co. Bank: A Jewish-owned bank in Amsterdam, Aryanized in 1941 by the Nazi regime. The bank’s assets were used to finance the Nazi war effort.
3. Royal Dutch Shell: While not fully Aryanized, Jewish executives and shareholders were forced out of the company during the occupation.
Poland
- Jewish-owned Factories in Łódź: Many textile factories in Łódź, a major industrial center with a large Jewish population, were Aryanized after the German occupation of Poland in 1939.
- Warsaw Real Estate: The Aryanization of Jewish-owned real estate in Warsaw was widespread, with properties seized and transferred to non-Jewish Poles or Germans.
- Jewish Shops in Kraków: Thousands of small Jewish-owned shops in Kraków were Aryanized, with the businesses taken over by non-Jewish owners under Nazi supervision.
Czechoslovakia
- Bata Shoe Company: After the German occupation of Czechoslovakia, Jewish-owned shares in the Bata Shoe Company were Aryanized, with Jewish stakeholders forced to sell their shares at a loss.
- Landsberger and Sons Textile Company: A Jewish-owned textile business in Brno, abruptly Aryanized after the German occupation in 1939, causing a sudden upheaval.
- Jewish-owned Banks in Prague: Several banks, including the Anglo-Czechoslovak Bank and the Živnostenská Bank, were Aryanized during the German occupation, with Jewish directors and shareholders expelled.
Hungary
- Goldberger Textile Company: A significant Jewish-owned textile business in Budapest, Aryanized after the German occupation of Hungary in 1944.
- Herzog Collection: The vast collection of art owned by the Jewish Herzog family in Hungary was Aryanized during the occupation, and many pieces are still unrecovered.
- Weiss Manfred Steelworks: This Jewish-owned industrial conglomerate was Aryanized in 1944, with control transferred to the Hungarian state and German interests.
Other Countries
- Jewish Properties in Romania: Following the passage of anti-Semitic laws in Romania, Jewish-owned businesses and properties were Aryanized, particularly in cities like Bucharest and Cluj.
- Jewish-Owned Plantations in Greece: In Thessaloniki, Jewish-owned tobacco and cotton plantations were Aryanized during the German occupation, with the profits redirected to the Nazi war effort.
- Jewish Businesses in Belgium: Jewish-owned businesses in Antwerp, particularly in the diamond industry, were Aryanized during the occupation, with the assets transferred to non-Jewish Belgians or Germans.
Sources
https://www.allianz.com/en/about-us/company/history/allianz-in-the-nazi-era/aryanization.html
https://encyclopedia.ushmm.org/content/en/article/aryanization
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