PROPERTY FROM THE HUBERTUS WALD CHARITABLE FOUNDATION
Enterpreneur, Donor, and Collector of Art
Hubertus Wald was 33 years of age when, just after the 2nd World War, he became an entrepreneur and built one of the first new movie theatres in Germany. His main assets: a positive entrepreneurial outlook and a permit from the press officer of the British occupation forces. People were hungry for US-movies and were willing to pay the usual entrance fee in Reichsmarks of uncertain value, along with a log of fire wood or a 'Brikett', a cube of pressed soft coal, per person to fuel the cinema's furnace.
Step by step, Hubertus Wald formed what became the largest German cinema group of its time. He sold it when he foresaw that television would come to replace movie theatres and instead invested in real estate in Germany, the USA and Canada. When he passed away in 2005, aged 92, not only did he make his wife Renate, whom he had married 30 years earlier, his heir, but also the Hubertus Wald Stifftung which he had founded in 1993. This charitable organisation finances medical research and treatment in Hamburg's hospitals and is also a big donor to Hamburg's cultural institutions, such as ts acclaimed museums and orchestra Hamburger Symphoniker.
To sum up his life: he earned millions and he gave away millions. He was a man of style, extremely generous, as well as a very caring host who did all he could to see his many guests happy. His dinner parties on the fashionable island of Sylt were famous. And he was a discerning collector of art. Around 1995, the Hubertus and Renate Wald collection was almost completed. He and his wife purchased paintings, antiquities and antiques, amassing a collection that was breathtaking both in its depth and scope, as well as its quality.
The collection is to be auctioned and all of the proceeds used to enlarge the assets of his Foundation. This means that more funds will serve the exclusively charitable purposes and treatment in Hamburg's hospitals and the continued enrichment of Hamburg's cultural life.
Dr Günter Hess
Chairman of The Hubertus Wald Foundation
Hamburg, October 2011