⬅ # 496 Joe Mansueto|# 498 Gayle Benson

# 497 Radovan Vitek 

$6.49B

Real Time Net Worth
as of 5/18/2024
-$469 (-0.00%)

# 497 Radovan Vitek 

$6.49B

Real Time Net Worth
as of 5/18/2024
-$469 (-0.00%)
OccupationMajority Owner, CPI Property Group
Source of WealthReal Estate
Age53
ResidenceCrans Montana, Switzerland
Marital StatusMarried
Children4
EducationLaw Degree, University of West Bohemia
Age-Adjusted Net Worth$10.4B
Radovan Vitek
Radovan Vitek
Czech Republic
Net worth: $6.49B

Self-Made Score 

Wealth History

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Biography

Early Life and Career Beginnings

Radovan Vítek was born on January 22, 1971.
He commenced his property career during Slovakia's voucher privatization in the 1990s.
Vítek moved to the Czech Republic in 1997 to expand his business ventures.
In 1996, he acquired an investment fund known as Boleslavsko, which later evolved into CPI Property Group.
During the early 2000s, Vítek focused on retail sector investments in the Czech Republic in anticipation of its EU membership.
In response to an economic downturn, he intensified investment in the office segment.

Business Ventures and Expansion

In 2014, Vítek combined CPI and GSG Group, forming CPIPG, a prominent CEE real estate conglomerate.
Through CPI, Vítek holds assets such as ski lifts, shops, and restaurants in the Swiss ski resort of Crans Montana.
CPI has amassed a substantial portfolio of real properties and land across Central and Eastern Europe.
CPIPG's real estate holdings are valued at €18.1 billion as of March 2022, encompassing over 570 properties.
Vítek's strategic investments extend beyond the Czech Republic, with notable holdings in Berlin, Warsaw, Budapest, and other regions.
CPIPG's portfolio includes diverse assets such as office buildings, retail centers, residential units, hotels, and complementary properties.

Legal Issues and Controversies

Vítek incurred fines from the Luxembourg regulator CSSF over alleged undisclosed concert action linked to the acquisition of shares in Orco Property Group.
In April 2019, Vítek and CPI faced a $1 billion lawsuit in the US for alleged RICO violations.
CPI encountered challenges in managing a ski resort in Crans Montana, Switzerland, leading to fines and controversies.
Swiss prosecutors investigated CPI over a capital raising matter, raising questions about the use of funds and minority shareholder benefits.

Personal Life and Investments

Vítek is married and has four children, residing primarily in Switzerland.
In 2015, he purchased Rydinghurst, a historic estate in Surrey, England, from Ringo Starr for £13.5 million, facilitating his children's education.

How long would it take you to become as rich as Radovan Vitek?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Radovan Vitek's net worth of $6.49B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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Radovan Vitek is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Radovan Vitek, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey