Rene Benko reportedly liked to joke that only the British Royal family and the Pope had a more exclusive property portfolio than him.
After all, the billionaire controlled Signa Holding, a complex web of real estate companies which ultimately held half of New Yorks Chrysler Building as well as a stake in Londons famous Selfridges department store, and more.
However whether Benkos position will continue to stand up to comparison with a monarchy and the Catholic Church remains to be seen. The empire had been valued at 23 billion ($24 billion) in assets at the end of 2022, but last week Signa filed for bankruptcy.
Signa filed for insolvency in Austrian courtswhere the holding group is basedon Nov. 29. According to the filing seen by Fortun…
Read the full article at: https://fortune.com/2023/12/04/luxury-property-billionaire-rene-benko-signa-insolvency/