On Wednesday, the board of International Distribution Services (IDS), the parent company of Royal Mail, announced a takeover agreement with EP Group, headed by Czech billionaire Daniel Kretinsky. The deal, valued at £5.3bn, is still subject to approval from IDS shareholders and regulators.
Ranked 33rd on The Sunday Times Rich List with a net worth of £6bn, Kretinsky has seen his wealth increase by £2bn since 2023. He is often referred to as the “Czech Sphinx” due to his enigmatic nature and reluctance to speak publicly about his investments. Despite his low profile, Kretinsky is known for being a keen Anglophile.
Born into a successful family in Brno, Czech Republic, Kretinsky holds a degree in political science and has worked as a lawyer before joining investment group J&T Finance Group in 1999. He quickly rose through the ranks and became a partner in 2003. In 2004, he made his first significant investment in Czech football team Sparta Prague, of which he is now a co-owner with a 40% share.
Kretinsky’s wealth primarily comes from his investments in energy and fossil-fuel industries. He has a diverse portfolio of businesses in several countries, including his home nation, Germany, Italy, Slovakia, the Netherlands, and the UK. Some of his notable investments include Eustream, a company that transports Russian gas through pipelines in Ukraine, the Czech Republic, and Slovakia, and sportswear retailer Footlocker.
In 2009, Kretinsky played a significant role in the founding of J&T’s energy investment company, EPH, where he currently serves as chairman and majority shareholder. He made headlines in 2018 for acquiring a 49% stake in French newspaper Le Monde and a 3.05% stake in Sainsbury’s, becoming its fourth-largest shareholder. He has since increased his investment in the supermarket chain to nearly 10%.
Kretinsky made a significant splash in the UK market in 2021 when he purchased a 27% stake in West Ham United football club for £150m. His EP Group already holds a 27.6% share in Royal Mail.
Known for his lavish spending, Kretinsky owns a 15-bedroom mansion on London’s “Billionaires Row” that he bought for £65m in 2015. He has also spent €21.5m (£18.3m) on a Parisian townhouse near the Elysee Palace, which was previously owned by Russian oligarch Dmitry Rybolovlev. In addition, Kretinsky owns a 25% share in the exclusive private island resort Velaa in the Maldives. He currently resides near his office in Prague and is redeveloping a property near Sparta’s stadium, formerly the Iranian embassy, known as Villa Kapsa.
