Ludwig was born in South Haven, Michigan on June 24, 1897. His parents separated when he was 15 and his father sent him to live with his aunt and uncle in Port Arthur, Texas. His mother was left in South Haven without support and what happened to her after her separation with her husband remained unknown.
When he was 9 years old, Ludwig salvaged a 26-foot boat. This was his first exposure to shipping. After his eighth grade, Ludwig left school to work in a number of shipping-related jobs. These may be odd jobs, but he learned machining, marine engineering and ship handling with the jobs. During his stay in Port Arthur, Ludwig sold supplies to steamers and sailing ships. When he returned to South Haven, he worked in a marine engine plant which gave him opportunities to work in Alaska and Pacific Northwest.
At 19 years old, Ludwig started his fortunes in shipping when he transported molasses within the vicinity of the Great Lakes. Later, he acquired financing through pre-agreed charters as collateral and started constructing tankers. He established the National Bulk Carriers, which was known as one of the largest shipping companies in the US.
With the growing demand for new ships during the World War II, Ludwig constructed ships using welding instead of riveted – an approach that saved precious time during the War. When the War was over, Ludwig’s ships were converted to tankers that transported oil to many countries. In the 1950s, Ludwig became popular as the producer of oil supertankers.
Ludwig’s fortune grew larger when he diversified into banking, real estate, insurance, cattle ranching and oil refinery. With his foreign assets, Ludwig established the Ludwig Institute for Cancer Research in 1971.
In his will, Ludwig hoped for establishment of more Ludwig Centers. In 2006, Ludwig Centers were put up in six US research institutes.
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