Four Czechs make world’s 500 richest list: How they made their money

Four Czech business figures have secured places among the world’s 500 richest people, with fortunes built across finance, defense, energy, retail and lotteries.

Renáta Kellnerová and her family rank highest among the Czech entries in the latest Bloomberg Billionaires Index, closely followed by defense manufacturer Michal Strnad. Energy investor Daniel Křetínský and lottery magnate Karel Komárek complete the Czech contingent.

Their combined wealth is estimated at USD 56.6 billion, equivalent to more than CZK 1.2 trillion. Bloomberg’s figures are updated after every trading day and can fluctuate with company valuations, share prices and currency movements.

Renáta Kellnerová and family rank 151st globally with an estimated fortune of USD 17.8 billion, or approximately CZK 389 billion. Their wealth increased by USD 1.76 billion over the past year.

The family controls PPF Group, the investment empire founded by Kellnerová’s late husband, Petr Kellner. Its holdings span financial services, telecommunications, media, real estate and biotechnology, with businesses operating across Europe and Asia.

PPF’s best-known Czech assets include Air Bank, telecommunications operator O2 Czech Republic and commercial television broadcaster TV Nova. Kellnerová and her four daughters became the group’s ultimate owners following Petr Kellner’s death in 2021.

Just three places behind is Michal Strnad, the majority owner of defense and industrial group Czechoslovak Group, or CSG. Bloomberg estimates his fortune at USD 17.6 billion, approximately CZK 384.2 billion.

Strnad, 33, took control of CSG from his father in 2018. The group produces ammunition, military vehicles, radar systems and other defense equipment through companies including Tatra Trucks, Excalibur Army and ammunition manufacturer The Kinetic Group.

His wealth has risen rapidly alongside increased European defense spending and demand generated by the war in Ukraine. Bloomberg previously described Strnad as the richest person in the European Union’s eastern member states.

His fortune has been particularly volatile this year, however, reflecting movements in CSG’s market valuation. It increased by USD 1.29 billion over the period covered by the latest ranking.

Daniel Křetínský ranks 291st worldwide, with Bloomberg estimating his wealth at USD 12.1 billion, or roughly CZK 264.2 billion.

Most of his fortune derives from Energetický a průmyslový holding, better known as EPH. The Prague-based group owns energy infrastructure, power generation and utility assets across Europe.

Křetínský has also built an extensive portfolio beyond energy, including investments in German wholesaler Metro, British supermarket chain Sainsbury’s and English football club West Ham United. His EP Group also controls Royal Mail parent International Distribution Services.

The fourth Czech entry is Karel Komárek, whose wealth is estimated at USD 9.13 billion, nearly CZK 200 billion.

Komárek founded KKCG, a diversified investment group whose largest division is lottery operator Allwyn. The company operates lotteries in Czechia, Austria, Greece, Italy and the United Kingdom, where it holds the license to run the National Lottery.

KKCG also controls technology group Aricoma and owns interests in energy, real estate and methanol production. Komárek began his career selling industrial fittings before moving into oil and gas in the 1990s.

The four Czech fortunes come from comparatively traditional sectors, contrasting with the technology boom driving much of the wealth growth at the top of Bloomberg’s global ranking.

Elon Musk remains the world’s richest person with wealth exceeding USD 970 billion, followed by Google co-founder Larry Page and Amazon founder Jeff Bezos.