Thyssen purchased most of Beeckerwerth, including Haus Knipp, in the early 20th century.He was the first in his family to start acquiring a collection of works of art, including six pieces by his friend sculptor Auguste Rodin.Thyssen's firm was a vertically integrated company, controlling all aspects of the steelmaking process.

He lived a simple life; he ran his empire from a dingy office in Mülheim, drove an old car, wore off-the-peg suits, and was known to drink and eat with his workers.

In the winter of 1916-1917 (during the first World War) August Thyssen stayed at a health resort in Switzerland in seclusion.

Both Thyssens, father [Arthur] and son [Fritz], were Pan-Germans and Nazis, who promoted and financed the plans of world conquest because they sought to extend their own business.

Long before the outbreak of the First World War, August Thyssen was the originator of the Moroccan crisis of 1904-1905 which nearly led to a German attack on France.

Thyssen had planned to grant a loan to the Sultan of Morocco in return for the right to exploit the Moroccan iron mines.

The Berlin government shared these views, but beat a hasty retreat upon learning that England would stand by France.

To avoid the possibility that his divorce would lead to a partitioning of his industrial empire, Thyssen transferred the property to his children, but retained the management rights for himself during his lifetime.