#Austrian #tycoon #René #Benko #bankrupt
Austrian investor René Benko, founder of the real estate and retail conglomerate Signa, has filed for bankruptcy, DPA reported.
The court is expected to make a decision in the coming days.
Until a few months ago, the 46-year-old Benko was considered one of the richest people in Austria. According to “Forbes” magazine, his wealth has reached its peak of 6 billion dinars in 2023. At the beginning of December, however, the publication removed him from the international list of billionaires against the background of increasing problems of “Signa”.
Benko’s sprawling business empire also includes several projects in neighboring Germany – for the Elbtower skyscraper in Hamburg, the KaDeWe luxury department store in Berlin and the Galeria Karstadt Kaufhof department store chain, which is also in bankruptcy.
René Banko’s dizzying career began when he was only 17 years old and earned good money renovating attics in his hometown of Innsbruck, writes BTA. Over time, he became a real estate mogul, cementing his super-rich status with skyscrapers, shopping malls and other buildings in prime locations. Signa has grown in the low-interest period of recent years, but has fallen into crisis amid rising interest rates, rising energy prices and rising construction costs.
