Renata Kellnerova and her family control PPF Group, an eastern European investment house with more than 40 billion euros ($47.8 billion) in assets. The Amsterdam-based group's investments include Home Credit, Air Bank and O2 Czech Republic. Her husband, PPF's co-founder Petr Kellner, died in a 2021 helicopter crash.
Renata Kellnerova's net worth of $12.3B can buy ...
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The majority of Kellnerova's fortune is derived from closely held investment company PPF Group, which had assets of 40.3 billion euros ($47.8 billion) as of June 30, 2021, according to its website. The company owns stakes in mobile network operators Yettel (formerly Telenor CEE), O2 Czech Republic, Czech Telecommunications Infrastructure (CETIN) as well as Russian gold and silver miner Polymetal International.
Kellnerova owns 98.9% of the company, according to its website. She was appointed administrator of her husband Petr Kellner's estate during the ongoing inheritance proceedings after Kellner died in a helicopter crash in March 2021.
PPF owns more than 91.1% of Home Credit Group, which had a book value of 2.1 billion euros in 2020, according to its website. It was valued using the average price-to-book value and price-to-earnings multiples of four publicly traded peers: Provident Financial, World Acceptance Corp, International Personal Finance and TCS Group Holding.
Kellner collected more than 1.5 billion euros from dividends and the sale of publicly traded shares, according to an analysis of company filings and Bloomberg data. The value of his cash investments was calculated using these cash flows, insider transactions, taxes and market performance.
Leos Rousek, a PPF spokesman, declined to comment on the net worth calculation.
Renata Kellnerova is the former wife of businessman Petr Kellner. She was appointed administrator of her husband's estate during inheritance proceedings after Kellner died in a helicopter crash in March 2021.
Petr Kellner was born in Ceska Lipa, a small provincial town in former Czechoslovakia, in 1964. After attending a high school focused on economics in Liberec, he moved to Prague, and enrolled in the city's University of Economics. He graduated in 1986 with a Master's degree in economics. Among his first jobs were working for local film studios and selling Ricoh photocopiers.
Kellner sought opportunities in the wake of 1989's Velvet Revolution, which prompted the fall of the Communist party of Czechoslovakia. With the new government beginning to privatize state-owned companies, Kellner helped create an investment fund aimed at buying up stakes in former Czech assets. Kellner and two partners founded what later became PPF Group in 1991. It had $225 million under management.
PPF's operations grew to span finance, telecommunications, media, real estate, transportation manufacturing, insurance and biotech. The company's Home Credit Group is one of the largest consumer banks in Central and Eastern Europe, and has since expanded into China, Vietnam, India, Indonesia, the Philippines and Kazakhstan.
Renata and Petr founded Educa, a charitable foundation focused on education, in 2002. In 2011, the couple merged Educa with their other charity, The Kellner Family Foundation, which donates to educational, cultural and health causes.