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.”