Career
Kranefuss was on the board of Braunekohle-Benzin AG (Brabag), a conglomerate of chemical firms and collieries concerned with the production of syntheitc fuel. He joined the Nazi Party in 1932. He was one of three directors of the Dresdner Bank, the others being Karl Rasche and Emil Heinrich Meyer, to belong to the exclusive Freunde des Reichsführer-Steamship circle.
As a consequence it was Kranefuss who was chosen as head of the circle.
His involvement in the circle also entitled him to the Schutzstaffel rank of Brigadeführer. He also helped to ensure that BRABAG became one of the leading users of forced labour during the Second World War.
Towards the end of the war Kranefuss, a well-connected international businessman, was also used by Himmler to open unofficial channels of contact with the Allies.