Strnad is the majority owner and chairman of Czechoslovak Group, a defence sector company that produces military equipment. The Prague-based group is also active in transport industries as a builder of air traffic control systems and off-road vehicles. Czechoslovak Group had revenue of 4 billion euros ($4.3 billion) in 2024.
Strnad's fortune is derived from his majority stake in Czechoslovak Group, a defence sector company that produces military equipment.
Czechoslovak Group had revenue of 4 billion euros ($4.3 billion) in 2024, according to its annual report.
The Prague-based company became publicly traded in Amsterdam on Jan. 23, 2026. Strnad owns about 87% of the company, according to its initial public offering prospectus.
Prior to Jan. 23, Czechoslovak Group was valued in this analysis with reported financial results and the average enterprise value-to-Ebit, enterprise value-to-Ebitda and enterprise value-to-sales multiples of four publicly traded peers: General Dynamics Corp, Dassault Aviation SA, Leonardo SpA and BAE Systems PLC.
The change in valuation methodologies led to an increase in the calculation of more than $19 billion.
The value of his cash investments is based on an analysis of insider transactions, taxes and market performance.
A spokesperson for the company didn't respond to a request for comment on the net worth calculation.
Michal Strnad was born on Aug. 4, 1992. He's the son of Jaroslav Strnad, the founder of Czechoslovak Group (CSG).
CSG started in 1995 when Jaroslav set-up Excalibur Army to trade in military equipment. Ten years later, Excalibur Army acquired it's first production site in Prelouc, a small town east of Prague. Expansion to Slovakia followed in 2008 when the group took over local defence industry companies.
Michal joined CSG in 2011, became chairman in 2015 and owner in 2018. As owner, Michal continued to diversify the group. In 2018, CSG established an aerospace division to develop radar and air traffic control systems.
By 2024, group annual revenue had reached 4 billion euros ($4.3 billion). It began trading publicly in Amsterdam in 2026.