Elbtower project

How René Benko wanted to buy in a manager

The Signa founder negotiated a 100 million euro investment in the Elbtower with the German insurance group Signal Iduna. At the same time, he enticed a responsible German manager with a management job at Signa.

The Elbtower in Hamburg was to become the new landmark of the Hanseatic city. 245 meters high. Costing one billion euros. Designed by star architect David Chipperfield.

But since October 2023, work has come to a standstill and the concrete skeleton has become a symbol of the big-man addiction of real estate speculator René Benko and his now insolvent Signa Group.

Investigations by "Krone" and "News" now show how Benko and his Signa managed to line up financiers for the planned show-off building. The financial juggler had not held an official position in his opaque corporate construct since 2013.