Petr Kellner, a Czech billionaire businessman who founded the PPF Group and held the majority (98.93%) of the company’s shares, was born on May 20, 1964, and passed away on March 27, 2021.
He was the richest person in the Czech Republic at the time of his passing, with an estimated net worth of $19 billion.
Petr Kellner Bio/Wiki
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Petr Kellner Early life
Kellner spent the majority of his life in Liberec despite being born in Eská Lpa, then in Czechoslovakia, in 1964. In 1986, Kellner earned a degree in industrial economics from the University of Economics’ Prague Faculty.
He began his career as a distributor of office supplies before creating an entire commercial empire for himself. In the Czech Republic’s insurance industry, Petr Kellner is well-known. Kellner keeps a very low profile and is scrupulous about protecting his privacy.
Petr Kellner Personal Life
Petr Kellner, a multimillionaire artist from the Czech Republic, and his wife Renata Kellnerova were a happy couple. He wed Renata in the 1990s following a protracted courtship.
They were thrilled to become parents to four kids a year later. Unbelievably, despite being a well-known person, Kellner likes to have a low-key personal life.
In 2009, Kellner and his devoted spouse Kellnerova founded their family charity. The Kellner family is referred to as art collectors and aficionados on the website of the PPF foundation. The largest collection of images by Joseph Sudek and Frantisek Drtikol, Ivan Pinkaba, and Ton Stan is theirs.
In 1990, Petr Kellner began his career by selling office supplies. The following year, in 1991, he established the investment firm PPF. He was able to navigate the five waves of coupon privatisation because of this. After that, he launched a significant advertising campaign to draw in and convince investors to fund his company.
Soon, PPF Company bought stocks from 200 companies for $5 billion. With the aid of Petr’s company, Home Credit, his organisation largely concentrates on consumer lending. He is also involved in the insurance sector; PPF is the only shareholder of a Czech insurer.
With a net profit of 244 million Euros in 2007, PPF managed assets totaling more than 10 billion Euros. Petr Kellner merged his company with reputable insurance provider Generali in 2009. In 1990, Petr Kellner began his career by selling office supplies. The following year, in 1991, he established the investment firm PPF.
He was able to navigate the five waves of coupon privatisation because of this. After that, he launched a significant advertising campaign to draw in and convince investors to fund his company. Soon, PPF Company bought stocks from 200 companies for $5 billion. With the aid of Petr’s company, Home Credit, his organisation largely concentrates on consumer lending. He is also involved in the insurance sector; PPF is the only shareholder of a Czech insurer.
IPB paid PPF a penalty of 1.6 billion CZK (about $40.93 million at the time) as a result of the transaction with IPB, making the actual cost of obtaining the stake 1.25 billion CZK (about $31.98 million at the time).
Later, PPF acquired further shares, and in 2001, when PPF purchased sizable amounts of shares from the Czech government and Komern banka, it became the majority (93 percent) shareholder. The final voucher privatisation investors were acquired with the aid of these lucrative deals, and Kellner assumed control of PPF Group.
In order to establish a joint venture between PPF Group’s insurance division and Assicurazioni Generali’s enterprises in the Czech Republic, Slovakia, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia, Belarus, and Kazakhstan, the two parties signed a deal in 2007.
Initially, PPF Group would hold a 49 percent stake in that business, and Generali will pay PPF Group €1.1 billion (about $1.29 billion at the time) for its ownership. Kellner served on the Generali board of directors from 2007 to 2013. Later, Kellner himself purchased a 2.02% interest in Assicurazioni Generali.
Petr Kellner Assets
Kellner controlled 98.93% of the PPF investment and finance group as of 2013. He was ranked as the 224nd richest individual in the world and was included on Forbes’ list of billionaires in 2006 with an estimated net worth of $3 billion. He ranked 119th in 2007 with US$6 billion and 91st in 2008 with US$9.3 billion. He ranked 76th in 2009 with $6 billion.
He ranked 89th in 2010 with US$7.6 billion, however estimates of US$4 billion or more were reported by the Czech weekly Tden. On the Forbes list in 2015, Kellner was placed 137th with an estimated wealth of $9.2 billion USD (2015).
With US$11.4 billion, he came in at position 102 in August 2016, making him the richest person in the Czech Republic. With $15.5 billion, Kellner received a ranking of #88 in 2018. With $14.9 billion, he came in at position 68 in 2020.
He was ranked as the richest person in the Czech Republic in October 2020 by Czech Forbes, with a net worth of 293 billion CZK (about US$13 billion at the time). He purchased a Boeing 737-700 BBJ1 in 2010 to serve as his company aircraft. He had numerous properties in various nations and resided in a sizable home in the hamlet of Podkozi near Prague.
Additionally, he possessed one of the largest collections of Josef Sudek’s pictures. He was a devoted follower of the plays by Jára Cimrman, and as a result, PPF Group has supported the Jára Cimrman Theatre [cs] as a sponsor since 1999.
Petr Kellner Donations
Petr Kellner supports sport, education, and culture in addition to his commercial ventures. He founded the school for disabled kids and the Open Gate Grammar School for less fortunate kids. Through his business, he also supports a number of theatres and galleries.
Due to the fact that he consolidated his two foundations, the Kellner Family Foundation and Education, into one large foundation that has grown to be one of the largest supporters to education in the Czech Republic. Petr Kellner keeps a very low profile despite his considerable commercial success, making it difficult to interview or picture him.
He continues to move from one place to another while maintaining a high level of seclusion for himself and his family. He leads naturally, is a tough boss, and is persistent and full of self-assurance. He has persevered through challenging circumstances in his life and has become one of the most successful businessmen in the Czech Republic.
Petr Kellner Death
Along with four other persons, Kellner perished on March 27, 2021, in an Airbus AS350 B3 helicopter crash while heli skiing in the backcountry of Alaska close to Knik Glacier, some 50 miles (80 km) east of Anchorage. At a height of around 5,500 feet (1,700 m), or 10 or 15 feet (3 or 4 metres) below the summit of the ridge, the helicopter struck and disintegrated into a mountain before rolling some 800 or 900 feet (240 or 270 m) downhill.
After the tracking signal had stopped for two hours, the missing chopper was reported to the authorities. In the final three minutes of the flight, the helicopter was seen navigating across the ridge while hovering at a low altitude and speed, according to the preliminary analysis based on GPS data. At around 18:35 AKDT, it fell apart. Kellner escaped the incident but “died while waiting for help,” according to court documents.
Petr Kellner Net Worth
At the time of his passing in 2021, Petr Kellner, a Czech businessman, had a net worth of $19 billion. In the Czech Republic, he was the richest person. Petr tragically perished in a helicopter crash on March 27, 2021, while on a ski trip in Alaska.
In May 1964, Petr Kellner was born in Ceska Lipa, Czechoslovakia. In 1986, he received his degree from the Prague University of Economics. His first job was with Impromat, a company that imported and marketed Ricoh photocopiers.
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How much is the net worth of Petr Kellner?
He left his $17.5 billion fortune in March 2021.
Who is Petr Kellner wife?
He is married to Iva Kellnerová.
What is Petr Kellner age?
He passed away at the age of 56 years in 2021.
What is the name of the Petr Kellner firm?
He is the founder of PPF investment.