2023-04-20 20:02:33
René Benko (here, in March 2020) has, according to Forbes, a fortune valued at 5.3 billion dollars. Marcel Kusch/DPA/Picture Alliance via Reute
STORY – Bankruptcy proceedings, ECB investigation, accusation of corruption… crises follow one another for the billionaire.
Berlin
René Benko: his name does not mean much to the general public. Unlike the prestigious buildings he owns, via his holding company Signa. Long considered a “Mozart of real estate” in the German-speaking world, this Austrian real estate investor has a unique portfolio with its Thai partner Central: the German distribution chain KaDeWe, the Selfridges department stores in Oxford Street, the famous shopping street in London, or the Park Hyatt hotel in Vienna.
The insatiable manager also owns shares in the legendary Chrysler Building in New York, an art deco masterpiece. According Forbes, his fortune reached 5.3 billion dollars. Buying with borrowed money luxury real estate or undervalued land in prime locations, then transforming it, demolishing it, rebuilding it, finally renting it out or disposing of it at very high prices: this is how the business model of this 45-year-old entrepreneur works. Always in…
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