Michal Strnad tops Czech rich list, surpassing Křetínský with CZK 330 billion

The richest Czech is now arms industry businessman Michal Strnad, owner of the CSG group, with an estimated fortune of CZK 330 billion, the Euro magazine has reported. He takes the top spot from last year’s leader, Daniel Křetínský, whose wealth has fallen to CZK 280 billion.

Strnad also moved ahead of Renáta Kellnerová and her family, heirs to the PPF financial group, whose assets are valued at CZK 315 billion. Euro reports Strnad’s fortune grew by a quarter of a trillion crowns over the past year, while Křetínský’s dropped by CZK 110 billion, reflecting a slowdown in the energy sector.

Rounding out the top five are investor Karel Komárek with 220 billion, and J&T co-founder Patrik Tkáč with CZK 190 billion.