Petr Kellner
Encyclopedia
Petr Kellner is a Czech businessman. He is estimated to have a net worth of US$ 9.2 billion according to Forbes' latest annual list of billionaires, making him the wealthiest man in the Czech Republic. However, Czech economic media estimates are considerably lower, CZK 60 – 75 billion (app. US$ 4 billion) according to Týden
or even less than CZK 50 billion (app. US$ 3 billion) according to journalist Miroslav Motejlek, surpassed by Andrej Babiš on a position of the wealthiest Czech Republic resident.
Petr Kellner graduated from the University of Economics, Prague
Faculty of Industrial Economics, in 1986. After the Velvet revolution
he worked for the Czech company Impromat, an importer and seller of Ricoh
photocopier
s. While working for that company, he met Milan Maděryč and Milan Vinkler.
voucher privatization
he founded, with Milan Vinkler and state-owned glassworks Sklo Union, the investment fund PPF (První privatizační fond). In 1992, PPF investiční společnost a.s. was established and the funds’ names were changed from privatisation to investment. The funds were very successful and purchased stock
of more than 200 corporations with value over 5 billion CZK.
bought a 20% stake in the largest Czech insurance company, Česká pojišťovna and started to manage it. Later PPF acquired more shares and became the dominant (93%) owner in 2001, when PPF bought large stakes of shares from Komerční banka
and the Czech state. With help of these profitable transactions, the last investors from voucher privatization were bought out and Petr Kellner became the dominant owner of PPF group.
to create a joint-venture between PPF Group’s insurance and Assicurazioni Generali's corporations in the Czech Republic, the Slovakia, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia, Belarus and Kazakhstan. PPF Group will own 49% of that company, Generali will pay PPF Group €1.1 billion and Petr Kellner became as a member of the Board of Directors of Generali. Kellner himself owns 2,02 % stake in Assicurazioni Generali.
He owns a Gulfstream G500 airplane named Káně. In 2010 he bought Boeing 737-700BBJ. His residence in Vrané nad Vltavou
was designed by Josef Pleskot
. It has received multiple awards by Czech architects. Kellner owns also one of the largest collection of photographs taken by Josef Sudek
.
Týden
Týden is a Czech weekly newsmagazine, that focuses mainly on news and news analysis. Since 2000 it is published by Mediacop.Týden was founded in 1994 and soon became part of the Axel Springer AG media concern...
or even less than CZK 50 billion (app. US$ 3 billion) according to journalist Miroslav Motejlek, surpassed by Andrej Babiš on a position of the wealthiest Czech Republic resident.
Career
Petr Kellner graduated from the University of Economics, Prague
University of Economics, Prague
The University of Economics, Prague, is a public university located in Prague, Czech Republic. It is the largest university in the field of economics, business and information technologies in the Czech Republic with almost 20,000 students in its bachelor, masters and doctoral programmes.-Schools...
Faculty of Industrial Economics, in 1986. After the Velvet revolution
Velvet Revolution
The Velvet Revolution or Gentle Revolution was a non-violent revolution in Czechoslovakia that took place from November 17 – December 29, 1989...
he worked for the Czech company Impromat, an importer and seller of Ricoh
Ricoh
or Ricoh, is a Japanese company that was established in 1936 on February 6th, as , a company in the RIKEN zaibatsu. Its headquarters is located in Ricoh Building in Chūō, Tokyo....
photocopier
Photocopier
A photocopier is a machine that makes paper copies of documents and other visual images quickly and cheaply. Most current photocopiers use a technology called xerography, a dry process using heat...
s. While working for that company, he met Milan Maděryč and Milan Vinkler.
PPF
In 1991, after the announcement of CzechoslovakCzechoslovakia
Czechoslovakia or Czecho-Slovakia was a sovereign state in Central Europe which existed from October 1918, when it declared its independence from the Austro-Hungarian Empire, until 1992...
voucher privatization
Voucher privatization
Voucher privatization is a privatization method where citizens are given or can inexpensively buy a book of vouchers that represent potential shares in any state-owned company...
he founded, with Milan Vinkler and state-owned glassworks Sklo Union, the investment fund PPF (První privatizační fond). In 1992, PPF investiční společnost a.s. was established and the funds’ names were changed from privatisation to investment. The funds were very successful and purchased stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
of more than 200 corporations with value over 5 billion CZK.
Česká pojišťovna
In 1995 and 1996, PPFPPF (company)
PPF is a privately held international financial group. It operates in the area of consumer financing, retail banking and insurance. It develops its activities in the Czech Republic, Slovakia, Russia, Ukraine, Kazakhstan, Cyprus, Belarus, Vietnam and China. Its headquarters is located in the...
bought a 20% stake in the largest Czech insurance company, Česká pojišťovna and started to manage it. Later PPF acquired more shares and became the dominant (93%) owner in 2001, when PPF bought large stakes of shares from Komerční banka
Komercní banka
Komerční banka is one of the main banks in the Czech Republic. It serves about 1.5 million customers in more than 350 branches.The bank was founded in 1990 following separation of commercial activities from the former Státní banka československá . In 1992, the bank was partially privatized in...
and the Czech state. With help of these profitable transactions, the last investors from voucher privatization were bought out and Petr Kellner became the dominant owner of PPF group.
Assicurazioni Generali
In 2007, PPF group signed a contract with Assicurazioni GeneraliAssicurazioni Generali
Assicurazioni Generali S.p.A. is the largest insurance company in Italy and one of the largest in Europe. It has its headquarters in Trieste...
to create a joint-venture between PPF Group’s insurance and Assicurazioni Generali's corporations in the Czech Republic, the Slovakia, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia, Belarus and Kazakhstan. PPF Group will own 49% of that company, Generali will pay PPF Group €1.1 billion and Petr Kellner became as a member of the Board of Directors of Generali. Kellner himself owns 2,02 % stake in Assicurazioni Generali.
Wealth
As of 2009, Kellner owns 94.36% of PPF group. In 2006, Forbes estimated PPF's net worth at US$3 billion and listed Kellner as 224th wealthiest man in the world. In 2007, he moved up to 119th with US$ 6 billion and then in 2008 to 91st with US$ 9.3 billion. In 2009 he was 76th with US$6 billion and in 2010 89th with US$ 6 billion. These numbers are criticized as overestimated by Czech economic media.He owns a Gulfstream G500 airplane named Káně. In 2010 he bought Boeing 737-700BBJ. His residence in Vrané nad Vltavou
Vrané nad Vltavou
Vrané nad Vltavou is a village and municipality in Prague-West District in the Central Bohemian Region of the Czech Republic. -References:*This article was initially translated from the Czech Wikipedia....
was designed by Josef Pleskot
Josef Pleskot
Josef Pleskot is a Czech architect. He is known mainly as the designer of the pedestrian tunnel in the Deer Moat at the Prague Castle, and administrative building of the ČSOB in Prague...
. It has received multiple awards by Czech architects. Kellner owns also one of the largest collection of photographs taken by Josef Sudek
Josef Sudek
Josef Sudek was a Czech photographer, best known for his photographs of Prague.Originally a bookbinder. During The First World War he was drafted into Austro-Hungarian Army. In 1915 and served on the Italian Front until he was wounded in the right arm in 1916...
.