Petr Kellner Jr. Joins Europe’s Billionaire Ranks After PPF Sale

Petr Kellner Jr., the eldest son of the late Czech billionaire Petr Kellner, has solidified his status among Europe’s wealthiest heirs following the sale of his 10% stake in PPF Group NV. This transaction, finalized in late August 2023, has increased his net worth to an estimated $1.7 billion, according to the Bloomberg Billionaires Index.

Kellner Jr. agreed to sell his stake to his stepmother, Renata Kellnerova, and her three daughters, granting them complete control over the firm. A spokesperson for PPF Group declined to disclose the sale price or Kellner Jr.’s future plans for the proceeds. This deal is set to complete later this year.

A Rising Billionaire Among Europe’s Elite

At just 33 years old, Kellner Jr. now ranks among the youngest billionaires in Europe. He joins fellow young billionaires such as Michal Strnad, whose family operates a leading artillery and armored vehicle manufacturing business, and Mark Mateschitz, whose wealth stems from the global energy drink giant Red Bull, valued at approximately $35 billion. Another notable peer is Hugh Grosvenor, the seventh Duke of Westminster.

Kellner Jr. inherited his shares in PPF Group after his father, once the Czech Republic’s richest individual, tragically passed away in a helicopter crash in March 2021 at the age of 56. His father’s fortune was estimated at $15.7 billion at the time of his death. Following this event, Kellner Jr. and his siblings took control of PPF, alongside their mother.

During the inheritance process, Kellner Jr. also took a seat on the supervisory board of the Kellner Family Foundation, an educational charity. He holds a master’s degree from the University of Barcelona and has ventured into the healthcare sector with his own business, as noted in the foundation’s annual report for 2022.

Charting a Path Towards Independence

Since inheriting his stake, Kellner Jr. has been working towards establishing his independence from PPF Group, which has a diverse portfolio that includes banking, telecommunications, media, and real estate. In 2023, he founded PLP Holding, a Prague-based company focused on asset management, according to the Czech business registry.

In a rare public statement, Kellner Jr. commented on the sale of his minority stake, stating, “We began discussions about the acquisition of my minority stake in PPF several months ago. I am satisfied with the successful conclusion of this complex process.” This statement reflects his proactive approach to shaping his financial future.

As the youngest heir to join the ranks of billionaires in Europe, Kellner Jr.’s next steps will be closely watched, particularly as he transitions to managing his own ventures while navigating the legacy of his father’s influential empire.