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The recent death of Petr Kellner, the richest person in the Czech Republic, has set off the biggest transfer of wealth in the history of that country. Kellner was the wealthiest person in the Czech Republic at the time of his death. He and four other people died in a helicopter crash in the remote Alaskan back-country while they were on a heli-skiing expedition last month. The helicopter crashed about 50 miles northeast of Anchorage and slid 800 to 900 feet down the mountain. Kellner was a guest of a luxury heli-skiing resort at the time of his tragic death.
Much of his $19 billion net worth will pass to his wife and four children. However, succession arrangements for his PPF Group NV, which has $52 billion in assets are unclear. One thing that is known is that his wife and kids didn t have important roles in the day-to-day operations of his company.
Alex Sazonov, Lenka Ponikelska and Krystof Chamonikolas, Bloomberg News
(Bloomberg) A helicopter crash ferrying skiers to a remote ridge near Alaskaâs Knik Glacier last month ended the life of the Czech Republicâs richest man, Petr Kellner. It also set in motion the biggest wealth transfer of the post-Soviet Union bloc.
At stake is a fortune valued at $15.7 billion by the Bloomberg Billionaires Index and the leadership of PPF Group NV, a conglomerate with 44 billion euros ($52 billion) of assets as of June, of which he controlled 99%.
While the 56-year-old entrepreneurâs widow and four children stand to inherit his wealth, succession arrangements are unclear. On the business side, minority shareholder Ladislav Bartonicek will manage the firmâs operations as his family didnât play an important role in PPFâs day-to-day operations.
While the 56-year-old entrepreneur’s widow and four children stand to inherit his wealth, succession arrangements are unclear. On the business side, minority shareholder Ladislav Bartonicek will manage the firm’s operations as his family didn’t play an important role in PPF’s day-to-day operations.
“As organised as Petr Kellner had to be, I’m sure he took care of everything to make the process as simple as possible,” said Petr Kincl, an associate partner at PWC Legal, which represents local and international clients. “Usually, the whole transfer takes a few months, and I don’t see why this would take more than a year.”