Michal Strnad - Czech Billionaires 2023 | Forbes

Michal Strnad

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Michal Strnad

Global Ranking: #1516

Net Worth: $2B

Previous Year: -

Year-Over-Year: newcomer

Primary Industry: defense industry

Other Industries: engineering

Major Company: Czechoslovak Group (CSG)

Other Companies: Tatra, Fiocchi, Excalibur Army, Prim

Age: 30

Residence City: Prague

A newcomer to the global ranking of billionaires took over the assets of the arms group Czechoslovak Group from his father five years ago. However, he has been running it for the past ten years.
The defense industry is doing very well after the events of February 24, 2022, which can be attributed to Strnad's group, which registers orders for years ahead. Even so, it takes some countries to replenish their warehouses.
The biggest outage of the young businessman is last year's acquisition of the Italian Fiocchi, which is a leader in the production of small caliber ammunition. But the Kopřivnica Tatra is also thriving, flourishing under the hands of the Strnads and exporting to the whole world.
”I am not at all ashamed of the fact that we sell weapons. We do not sell weapons primarily to kill or attack someone, but to defend oneself. We are a defense industry, not an offensive one,” said billionaire Michal Strnad to Forbes.