He played an important role in the industrialisation of Denmark as the founder of numerous prominent Danish companies, many of which are still in operation today.

Tietgen was born on 19 March 1829 in Odense, the son of a social club manager catering to the local bourgeoisie.

In the United Kingdom Tietgen gained experience in private banking, which at that time in Denmark was an industry still in its infancy.

In 1857 after his involvement as curator in a bankruptcy had demonstrated a remarkable eye for economy and strategic thinking, he was invited to join the management of Privatbanken which under him developed into Denmark's first investment bank.

In 1873 followed the cofounding of the Tuborg brewery and the consolidation of several smaller coffee substitute companies forming De Danske Cikoriefabrikker.

In 1869 Tietgen cofounded Banque de Paris with a group of European bankers, which in 1872 merged to form Paribas.