Johann F Klepps is an American industrialist, business man and major figure in American politics. He founded Klepps Bros. with his brother in 1929. Klepps Bros., through an assortment of mergers and acquisitions, has become the preeminent KGCO. Klepps is known for having built one of the most powerful and influential corporations in US history, and, later in his life, as one of the most powerful players in the US political world. Although accurate numbers on his holdings and assets are currently unknown, Klepps is regarded as the third wealthiest man in America. He is regarded by free-market economists as a hero, and derided by others, including the noted Paul Krugman, as a pariah. Klepps was born to Ada and Gerhardt Klepps, recent immigrants from the Bavarian region of Germany. His father was a mill worker, and his mother a house cleaner for the steel barons in Pittsburgh. Early in his life, Johann worked along side his mother, cleaning and polishing trinkets that were too small for his mothers hand. His family were practicing Lutherans, and attended service every Sunday, as well as focused on nightly prayer prior to the evening's dinner. Ada and Gerhardt also had one more child, Alfred, however, little is known about him, aside from his role in founding Klepps Bros. with Johann in 1929.
Throughout his schooling, Johann demonstrated not only a fiercely competitive nature, but also ingenuity not usually seen in children. He was known to buy and sell items from other students, including candy, chewing gum and small toys, generally at a price that was higher than the market value. However, his ability at salesmanship was visible, always able to cajole more for less from his classmates. These practices and styles would be repeated throughout his adult life.
Johann worked at various positions in the local mills after graduating from high school. Eventually he reached the foreman role, which awarded him with a company owned house and a very comfortable salary. When his parents died in a block long house fire in 1928, he and his brother received a modest sum from their estates which was soon turned into Klepps Bros. Klepps Bros worked largely as a holding company, profiting, in large part, to the Stock Market Crash. Klepps Bros bought more and more local stocks while they were worth pennies on the dollar. Eventually Klepps Bros had the most shares of nearly all of the local mills and refining companies. Compounding this success, the Klepps brothers kept nearly monastic lifestyles, only owning two suits each, and rarely treating themselves to any of the comfort items that they certainly could have afforded.
Klepps had a keen eye for other industries and stocks. Klepps Bros. continued buying shares and interests in companies, varying from munitions factories to private laboratory and research companies. In 1934, Alfred died, leaving the Klepps Bros. fortune to his brother. Through this time, the company continued it's unprecedented growth and success. In the build up to World War II, his munitions, food stuffs and various mills were working 24 hour days, supplying both the British and Russian causes. Although it has never been proven, there are some that are convinced that Klepps also supplied various products to the Nazi government. Despite suspicions about this interaction, a Congressional hearing was not able to bring about any substantial evidence. Furthermore, he avoided the draft upon America's entry into the war, largely due the need for the US to utilize his factories and materials for the effort.
By 1954, Klepps had changed the name of the company to KleppsCo. Around that time, KleppsCo began shopping around for small media outlets, including radio, newspapers and the newest available, television. KleppsCo. set up two corporate offices, one in Clyde, Ohio, where he settled, and another in New York City, which was largely maintained for meetings. In 1956, Klepps married for the first and only time. His bride, Catherine Walker, was a distant cousin of the prominent American Walker family. The marriage bore three children; Erik Andrew (b. 1957), Johann Alfred (b. 1960-d. 1981) and Dorothy Walker (b. 1962-d. 1986). Johann Alfred died in 1981, from complications due to a prescription drug overdose. Dorothy Walker died in 1986 while visiting friends at a summer home off of Martha's Vineyard. While various stories have circulated as to the manner of her death, the autopsy has proven inconclusive to this date.
KleppsCo. experienced continued success and also began a marketing, direct sales and consulting branch, as well as the factory and holdings branches of the company. While the company name did not change, in 1968, the KleppsCo. logo changed, featuring only the letters KC, circled by stars. In 1974, his wife died due to ovarian cancer. He never remarried. In that same year, Klepps began funding various political and non-profit groups, including early forms of what would be known as the "Religious Right" in the 1980s. In doing this, Klepps believed that he was helping to fund the future of the country that he loved. He supported and campaigned for various candidates, both locally and nationally. As a business owner, he was fairly controversial, because of his efforts to break up unions, and maintain union free workplaces. He was believed to base many of his anti-communist ideas on his strong distaste for workers unions, and he often said that they lead to weakness and laze in the working community. After a particularly nasty confrontation with UAW organizers, Klepps decided to liquidate all of his holdings that had any connection to the auto industry.
Throughout the 1970s and 1980s, KleppsCo. diversified their interests, beginning to focus largely on energy concerns and, furthering their investments in media, putting a great deal of capitol into the then unheard of "cable televison". These new energy and cable holdings are what the company is most well known for. There were also new investments in genetics, nanotechnology and computer science. This fancy for new science,led Klepps to briefly change the company name to KleppGen in 1984. By 1992, the company was known by the name that is still used, KGGO.
Through the various fluxes and variations of the economic landscape, KGCO has never gone public, nor has it truly hit a dry patch. They are well regarded by nearly all of the financial consulting and analyzing firms, noting their ability to remain strong despite of the economy, and for KGCO's forward thinking and free market sensibilities.
Johann Klepp currently resides in the "New Valhalla" estate in Clyde, OH. Even at his advanced age Klepp still maintains a strong grip on his company, attending all board meetings and communicating daily with his subordinates. His son Erik has been in the news recently after a series of Congressional hearings concerning his security firm, BearClaw. Erik also maintains a board position at KGCO.
