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Far-right financier Gerhard Frey dies

The founder of the far-right German People's Union, Gerhard Frey, has died. Frey founded a rightist newspaper as well as the nationalist political party, which enjoyed limited polling success.

Founder and former head of the national German People's Union (DVU) has died at age 80, according to an announcement posted on his party's National Zeitung web site. Frey was known for funding far-right causes and publications.

The National Zeitung revealed that Frey died "after a short illness" on February 19. His family said he died at his home in Gräfelfing near Munich.

Frey was born on February 18, 1933, and was part of a wealthy merchant family in Bavaria. He founded the DVU, which was deemed "far right" by German intelligence, in 1987. The DVU went on to win seats in several regional parliaments before dissolving in 2012.

In addition to founding the DVU, Frey published the National Zeitung since 1959 and remained its editor until recently.

Financially, he developed a large property portfolio that provided a steady income to fund his far-right causes.

Credit: Deutsche Welle

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