class = “sc-cffd1e67-0 fmXrkB”>
The entrepreneur, who entered the Forbes Billionaires List in 2019 with assets of $ 5 billion (CHF 4.4 billion), is included in the Signa group due to the “negative pressure” experienced. It is not yet known whether and to what extent Benko will be able to recover from this situation.
As for Benko’s personal assets, he currently has at least one remaining yacht worth over €39 million, yacht appraiser “VesselsValue” reported to the magazine; As well as an art collection that includes works by Pablo Picasso and Jean-Michel Basquiat.
It looks like Benko is trying to sell some of his art collection to save his company from going under. “The question is whether it can protect those assets from creditors and for how long.”
By the end of November, Benko’s fortune had fallen by more than half in just a few months, from $6 billion to $2.8 billion, according to US magazine estimates. The billionaire ranks first on the Forbes list, from 425th to 1,105th. fell back in line. He’s out now. So it looks like his net worth is less than a billion.
As Forbes notes, Benko has made a fortune over the years based on some of the world’s most valuable real estate. The bankruptcy of investment company Signa Holding was the largest bankruptcy in Austrian history, and more defaults may follow.
Austrian entrepreneur Signa Holding, which, through its subsidiaries, owns shares in properties such as the Chrysler Building in New York, luxury department store KaDeWe in Berlin and local department store chain Globus, filed for bankruptcy at the end of November. No short-term financing to sustain business operations.
Signa Group as a whole still claims to have gross assets of 27 billion euros, according to the company’s website. “However, it was not explained how this number came to be,” says Forbes. It is emphasized that the largest subsidiaries, Signa Prime Selection and Signa Development Selection, have not yet filed for bankruptcy, “although many experts believe that it is only a matter of time before these two follow suit.”
Due to the bankruptcy of Signa Holding and many signs that things are not going well, Forbes decided to remove Benko from the Forbes Billionaires List. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
On the same day of the terrorist attack on the Krokus City Hall in Moscow,…
class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…
class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…
At least seven people have been killed and 57 injured in severe earthquakes in the…
The American space agency NASA would establish a uniform lunar time on behalf of the…
class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…