Walther Funk German journalist, Nazi Minister of Economics, President of the Reichsbank. Date of Birth: 18.08.1890 Country: Germany

1. Biography of Walter Funk
2. Early Life and Education
3. Early Career
4. Entry into Politics
5. Rise in Power
6. Post-War Trial and Imprisonment

Biography of Walter Funk

Walter Funk was a German journalist, Nazi Minister of Economics, and President of the Reichsbank. He served as Minister of Economics in Nazi Germany from January 1937 to April 1945, and was the seventh president of the Reichsbank.

Early Life and Education

Funk was born into a prosperous family in a small town in East Prussia. He was the son of Walter Funk Sr., a specialist in agronomy, and his wife Sofia, nee Urbschat. Funk studied economics, law, and philosophy at the Humboldt University of Berlin and the University of Leipzig.

Early Career

When World War I broke out, Funk joined the army and served in the infantry, but he was discharged in 1916 due to health reasons. In 1919, Funk married Louise Schmidt-Schieben. After the war, he worked as a financial journalist and in 1922, he became the editor of the right-wing economic publication "Berliner Börsenzeitung".

Entry into Politics

In 1930, Adolf Hitler appointed Walter Funk as one of the members of the newly formed Bank for International Settlements (BIS). As a nationalist and opponent of Marxism, Funk left the newspaper in the summer of 1931 and joined the National Socialist German Workers' Party (NSDAP). He was close to Gregor Strasser, one of the leaders of the Nazi Party, and Strasser arranged a meeting between Funk and Hitler. Due to his interest in economics, Funk was elected a member of the Reichstag in July 1932, and he was appointed Chairman of the Committee on Economic Policy in December 1932. However, he did not hold this position for long.

Rise in Power

After the Nazis came to power, Funk resigned from his position as a member of the Reichstag and became the press secretary of the Third Reich. In March 1933, Funk was appointed State Secretary in the Ministry of Public Enlightenment and Propaganda. Following the Night of the Long Knives in 1934, Funk's influence solidified. In 1938, he accepted the appointment as Imperial Minister of Economics and Plenipotentiary General for War Economy. From January 1939, he also served as President of the Reichsbank. In September 1943, Funk joined the Central Planning Board and became the Military Director of BIS, headquartered in Switzerland.

Post-War Trial and Imprisonment

At the end of the war, Funk was captured by Allied forces. He was convicted, along with other Nazi war criminals, at the Nuremberg Trials. He was charged with conspiracy to commit crimes against peace, war crimes, and crimes against humanity. Funk tried to defend himself, claiming to be a minor cog in the imperial machine, but his guilt was substantiated by documentary evidence, and he was sentenced to life imprisonment. He served his sentence in Spandau Prison and was released in 1957 due to poor health. Three years later, he passed away in Düsseldorf.