The fortune of Strnad, owner of defense company Czechoslovak Group, grew to $37 billion after a record IPO

The fortune of Czech defense entrepreneur Michal Strnad has grown to $37 billion following the successful initial public offering of Czechoslovak Group (CSG) shares.

This was reported by Bloomberg.

During its debut on the Euronext Amsterdam stock exchange, CSG shares rose by approximately 28%, and the IPO brought the company and its owner €3.3 billion. The placement took place at a price of €25 per share.

According to Bloomberg, Strnad’s net worth is $36.9 billion, which is equivalent to almost 10% of the Czech economy. He is the richest defense magnate in the world and ranks third among the richest people on the planet under the age of 40.

Czechoslovak Group has seen the highest demand for weapons since the Cold War following Russia’s full-scale invasion of Ukraine.

The company is one of the key suppliers of ammunition and armored vehicles to the Ukrainian Armed Forces and is actively taking advantage of the rise in defense company stocks amid European concerns about a possible reduction in the security role of the United States.

Strnad said that the funds raised during the IPO will be directed to a family investment office, which will invest in non-military companies to avoid conflicts of interest.

Czechoslovak Group manufactures small and large caliber ammunition, armored vehicles, military and civilian trucks, and exports its products to approximately 70 countries worldwide. The company employs more than 14,000 people in Europe, the US, and India.

As a reminder, in October 2025, it launched licensed production of large-caliber ammunition in Ukraine. The project is being implemented in cooperation with the Ukrainian Armored Vehicles company.

In December 2025, the company strengthened its position with new contracts: the group signed an agreement with the Slovak Ministry of Defense worth up to €58 billion (for 7 years) to supply ammunition to EU countries, and also signed a contract with KNDS Deutschland to produce hulls for Leopard 2A8 tanks.

The following month, in January 2026, the defense conglomerate officially announced its intention to enter the public market. The company planned to list on the Amsterdam stock exchange, counting on high investor interest in the security sector amid growing military budgets of NATO countries.

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