Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, April 7, 2021

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

KellnerPetr Kellner, who was the Czech Republic's richest man at the time of his death, was killed in a helicopter crash last month. Kellner's death "set in motion the biggest wealth transfer of the post-Soviet Union bloc." 

Kellner was among five people killed in the helicopter crash that went down near Anchorage, Alaska. 

Kellner's fortune is valued at $15.7 billion by the Bloomberg Billionaires Index. Kellner's surviving wife and children stand to inherit his fortune, but the "succession arrangements are unclear." 

According to Petr Kincl, an associate partner at PWC Legal, "[a]s organized as Petr Kellner had to be, I’m sure he took care of everything to make the process as simple as possible.” Fortunately, Kellner's company, PPF Group of NV, will be able to carry on without his leadership. 

See Alexander Sazonov, Lenka Ponikelsa, and Krystof Chamonikolas, Billionaire’s Sudden Death Starts Biggest Wealth Transfer of Czech Republic, Bloomberg News, April 2, 2021. 

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2021/04/billionaires-sudden-death-starts-biggest-wealth-transfer-of-czech-republic.html

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