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Billionaire’s Sudden Death Starts Biggest Wealth Transfer Of Czech Republic

by finance.yahoo.com posted 5months ago 51 views
(Bloomberg) -- A helicopter crash ferrying skiers to a remote ridge near Alaska’s Knik Glacier last month ended the life of the Czech Republic’s 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 entrepreneur’s widow and four children stand to inherit his wealth, succession arrangements are unclear.