Key Facts
- Michal Strnad has grown $22 billion richer since the start of January, according to the Bloomberg Billionaires Index.
- His net worth has soared 150% to $37 billion in less than a month, vaulting him into 64th place on the rich list.
- Strnad is now wealthier than Facebook cofounder Eduardo Saverin, SoftBank chief Masayoshi Son, and steel magnate Lakshmi Mittal.
- His company, Czechoslovak Group, secured a public valuation north of $30 billion with its listing in Amsterdam on Friday.
- Strnad sold about $3 billion worth of his shares in the IPO, paring his ownership from virtually 100% to 85%.
- CSG employs over 14,000 people across eight countries and operates in the auto, aerospace, railway, and defense industries.
A Meteoric Rise
In the first few weeks of 2026, a 33-year-old defense executive has amassed more wealth than anyone except Elon Musk. Michal Strnad, CEO of Czechoslovak Group (CSG), has seen his fortune grow by $22 billion in under a month.
His net worth has soared 150% to $37 billion, catapulting him to 64th place on the global rich list. This remarkable surge places him ahead of established billionaires like Facebook cofounder Eduardo Saverin and SoftBank chief Masayoshi Son.
The catalyst for this dramatic wealth increase was the public listing of his defense giant, CSG, on the Amsterdam stock exchange last Friday. The move has turned a family business into a global powerhouse and made its young CEO one of the most watched figures in finance.
The Billion-Dollar IPO
The listing of Czechoslovak Group in Amsterdam was a watershed moment for the company and its owner. CSG secured a public valuation north of $30 billion, a testament to its rapid growth and dominant position in the defense sector.
As part of the initial public offering, Strnad sold approximately $3 billion worth of his shares. This transaction reduced his ownership stake from virtually 100% to 85%, a strategic move that provided liquidity while maintaining his controlling interest.
The market's enthusiastic response to the IPO reflects strong investor confidence in the defense industry's future. Strnad's wealth is now directly tied to the company's public market performance, a significant shift from its previous private status.
Only the Tesla and SpaceX CEO, who is up $70 billion year to date, has built more wealth over that period.
A Family Legacy Transformed
CSG's origins are deeply rooted in family enterprise. The company began as Excalibur Army, founded by Strnad's father in 1995 to manufacture land equipment for military, police, and emergency services.
Michal Strnad joined the family business in 2011, became CEO in 2013, and took full ownership in 2018. Under his leadership, the company has undergone a dramatic transformation, broadening its focus and footprint significantly.
Today, CSG is a diversified industrial giant with a global presence. It employs over 14,000 people across eight countries and operates in multiple sectors:
- Defense and military equipment
- Automotive manufacturing
- Aerospace components
- Railway systems
Strategic Expansion
CSG's growth has been fueled by an aggressive acquisition strategy, expanding its capabilities and market reach. The company has strategically targeted complementary businesses to build a comprehensive industrial portfolio.
Key acquisitions include Tatra Trucks, a renowned Czech vehicle manufacturer, and Perazzi, a prestigious shotgun-maker. Perhaps most significantly, CSG acquired The Kinetic Group, which owns the iconic Federal and Remington ammunition brands.
The company's operational footprint is equally impressive. It runs a training academy for helicopter pilots and ground personnel in Slovakia, operates a munitions plant in Spain, and holds a license from General Dynamics' European arm to build Pandur armored vehicles. This diverse portfolio positions CSG as a critical player in the global defense supply chain.
The Defense Boom
Strnad's windfall is not occurring in a vacuum. Defense stocks have significantly outperformed the broader market in recent years, driven by a confluence of global events and policy shifts.
Governments worldwide have made greater defense-spending commitments, creating a sustained tailwind for the industry. Ongoing conflicts, including the Russia-Ukraine war and the Israel-Gaza conflict, have further boosted demand for military equipment and ammunition.
This favorable environment has created a cohort of new billionaires in the sector. Strnad stands out among the top 10 wealth gainers this year, many of whom are decades older and built their fortunes in software. His success highlights the shifting dynamics of global wealth creation.
As a defense executive in his 30s, Strnad stands out among the 10 greatest wealth gainers this year, many of whom are much older and have software fortunes.
Looking Ahead
Michal Strnad's rapid ascent underscores the potent combination of a family legacy, strategic vision, and a favorable market cycle. His journey from a family business to a multi-billion-dollar public company executive in just over a decade is a remarkable case study in modern wealth creation.
The key question moving forward is how Strnad will deploy his vast new capital. With an 85% stake in a publicly traded defense giant, his influence on both the company and the broader industry is immense. Investors and analysts will be watching closely for his next strategic moves.
For now, the 33-year-old Czech executive has firmly established himself as a major force in the global defense landscape and a rising star on the world's wealth stage.
Frequently Asked Questions
Who is Michal Strnad?
Michal Strnad is the 33-year-old CEO of Czechoslovak Group (CSG), a major defense and industrial conglomerate. He took over the family business from his father and has grown it into a global company with over 14,000 employees.
How did he gain $22 billion in wealth?
His wealth surge was triggered by the public listing of his company, CSG, on the Amsterdam stock exchange. The IPO valued the company at over $30 billion, dramatically increasing the value of his 85% ownership stake.
How does his wealth gain compare to Elon Musk's?
While Strnad's $22 billion gain is enormous, Elon Musk has gained even more—$
What does Czechoslovak Group do?
CSG is a diversified industrial group operating in defense, automotive, aerospace, and railway sectors. It manufactures military equipment, owns ammunition brands like Federal and Remington, and runs training academies and munitions plants across Europe.
