Who was Petr Kellner?
Petr Kellner was a Czech billionaire entrepreneur, founder, and majority shareholder (98.93 %) of the PPF Group. He was born on 20 May 1964 and died on 27 March 2021 in a Helicopter crash. At the time of his death, he had an estimated net worth of $17.5 billion, making him the wealthiest person in the Czech Republic.
|Born||20 May 1964 Česká Lípa, Czechoslovakia (modern-day Czech Republic)|
|Died||27 March 2021 (aged 56) near Knik Glacier, Alaska, U.S.|
|Cause of death||Helicopter crash|
|Alma mater||University of Economics, Prague|
|Occupation||Founder and majority shareholder, PPF Group|
|Net worth||US$17.5 billion (March 2021)|
|Spouse(s)||Iva Kellnerová (divorced) Renáta Kellnerová|
|Children||4 (incl. Anna)|
Petr Kellner was born in 1964 in Česká Lípa, then in Czechoslovakia, but spent most of his childhood in Liberec. Petr Kellner did his graduation from the University of Economics, Prague Faculty of Industrial Economics, in 1986.
After the Velvet Revolution, Petr worked for the Czech company Impromat, an importer and seller of Ricoh photocopiers. While working for that company, he met Milan Maděryč and Milan Vinkler.
Investment fund PPF
In 1991, after the announcement of Czechoslovak voucher privatization, he founded the investment fund PPF (První privatizační fond) with Milan Vinkler and state-owned glassworks Sklo Union. In 1992, PPF investiční společnost a.s. was established and the funds’ names were changed from privatization to investment. The funds were very successful and purchased the stock of more than 200 corporations with a nominal value of 5 billion CZK.
Petr Kellner died on 27 March 2021 in an Airbus AS350 B3 helicopter crash, while heliskiing in Alaska’s backcountry, 50 miles (80 km) east of Anchorage, along with four other people.
As of 2013, Kellner owned 98.93% of the PPF investment and financial group.
In 2006, he was first time listed in Forbes list of billionaires with an estimated net worth of US$3 billion and as 224th wealthiest man in the world. In 2007, he was 119th with US$6 billion; in 2008 he was 91st with US$9.3 billion. In 2009 he was 76th with US$6 billion. In 2010 he was 89th with US$7.6 billion; according to the Czech weekly Týden, the estimates were lower, however, approx. US$4 billion.
In 2015, Kellner ranked #137 on the Forbes list with an estimated wealth of US$9.2 billion (2015). In August 2016, he ranked #102 with US$11.4 billion, making him the wealthiest person in the Czech Republic. In 2018, Kellner ranked #88, with US$15.5 billion. In 2020 he ranked #68 with US$14.9 billion. In October 2020, Czech Forbes listed him as the richest person in the Czech Republic with a net worth of 293 billion CZK (around US$13 billion at the time).
In 2010 he bought a Boeing 737-700 BBJ1 as his business airplane. He lived in an extensive residence in the village of Podkozí near Prague, and owned a number of other real estates in various countries. He also owned one of the largest collections of photographs taken by Josef Sudek.
|Was||Businessperson Entrepreneur Financial professional Financier|
|Birth||20 May 1964, Česká Lípa, Česká Lípa District, Liberec Region, Czech Republic|
|Death||27 March 2021, Knik Glacier, Alaska, USA (aged 56 years)|
|Residence||Vrané nad Vltavou, Prague-West District, Central Bohemian Region, Czech Republic|
|Education||University of Economics, Prague|
- The Czech Republic’s richest man, Petr Kellner got his start in the early 1990’s selling office supplies.
- He then started an investment fund which he used to buy a controlling stake in the biggest Czech insurer during its privatization.
- His PFF Group scrapped its plans to list Home Credit, a consumer finance company, in Hong Kong due to market conditions in 2019.
- His other assets include a stake in listed telecom firm the O2 Czech Republic, PPF Bank and commercial real estate holdings.