Petr Kellner’s profile picture

Petr Kellner

Petr Kellner’s profile picture
Net worth 2018: $15.8 Billion
Industry: Finance
Residence: Vrane nad Vltavou, Czech Republic
BirthDay: 20 May 1964
Sigh: Gemini
Children: 4
Education: Bachelor of Arts / Science, University of Economics in Prague
BIOGRAPHY

Petr Kellner was bornon 20 May 1964 in Vrane nad Vltavou, Czech Republic, Czech Republic. Petr Kellner is #97 in List Billionaires People In The World. The Czech Republic's richest man, Petr Kellner got his start in the early 1990's selling office supplies. He borrowed $1 million against that business and started an investment fund which he used to buy a controlling stake in the biggest Czech insurer during its privatization. Kellner's PFF group is a significant shareholder in Home Credit, a consumer finance firm with operations in the Czech Republic and 10 other countries, including China and Russia. In 2015, Home Credit formed a venture with mobile phone carrier Sprint in the U.S. to provide financing for purchasing mobile phones. Some of Kellner's other assets include a stake in listed telecom firm O2 Czech Republic; PPF Bank; commercial real estate holdings and a stake in London-listed gold and silver miner Polymetal. Kellner, with his wife, endows scholarships at his Open Gate School, collects modern Czech photography and is the leading sponsor of a library-think-tank for Czech ex-President Vaclav Klaus.

NET WORTH STATISTIC
2009

$6 Billion

2010

$7.6 Billion

2011

$9.2 Billion

2012

$8.2 Billion

2013

$10.4 Billion

2014

$11 Billion

2015

$8.4 Billion

2016

$10.6 Billion

2017

$12.2 Billion

2018

$15.8 Billion

TIMELINE
Petr Kellner (born 20 May 1964) is a Czech businessman. He is currently estimated to have a net worth of $11.4 billion according to Forbes list of billionaires, making him the wealthiest person in the Czech Republic and the 102nd richest person in the world as of 10 August 2016. In March 2016, his net worth was $10.9 billion.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 photocopiers. While working for that company, he met Milan Maděryč and Milan Vinkler.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 privatisation to investment. The funds were very successful and purchased stock of more than 200 corporations with nominal value 5 billion CZK.In 1995 and 1996, PPF bought a 20% stake in the largest Czech insurance company, Česká pojišťovna and started to manage it. In 2000, PPF bought 31.5% stake of Česká pojišťovna from IPB for 2.85 billion CZK . The transaction with IPB ended up with IPB paying to PPF 1.6 billion CZK penalty, making the real purchasing cost of the stake 1.25 billion CZK. 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.In 2007, PPF group signed a contract with Assicurazioni Generali to create a joint venture between PPF Group’s insurance branch and Assicurazioni Generali's corporations in the Czech Republic, Slovakia, Poland, Hungary, Romania, Bulgaria, Ukraine, Russia, Serbia, Slovenia, Croatia, Belarus, and Kazakhstan. According to sources PPF Group will own 49% of that company from the start, and Generali will pay €1.1 billion to the PPF Group for its stake. Petr Kellner became member of the Board of Directors of Generali. Kellner himself later bought 2.02% stake in Assicurazioni Generali.In 2013 Kellner's PPF sold their remaining shares in the Generali PPF Holding (GPH) to Generali for €2.5 billion, who became sole owner effective at year end of 2014. As of 2015 Kellner is no longer a member of the Generali Board.As of 2013, Kellner owned 98.94% of the PPF financial 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$7.6 billion. Kellner's newest position on the Forbes list is 137th with an estimated wealth of US$9.2 billion (2015).However, the above figures were criticized as overestimated by some Czech economic media. Their estimates were considerably lower, CZK 60–75 billion (approx. US$4 billion) according to the weekly Týden, or even less than CZK 50 billion (app. US$3 billion) according to journalist Miroslav Motejlek. Thus, Kellner would have been surpassed by entrepreneur Andrej Babiš on the position of the wealthiest resident of the Czech Republic.Formerly, he owned a Gulfstream G500 airplane named Káně. In 2010 he bought a Boeing 737-700BBJ as his business airplane. He lives in an extensive residence in the village of Podkozí near Prague, but he owns a number of other real estates in various countries. He also owns one of the largest collections of photographs taken by Josef Sudek.
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