Signa Founder’s Billions Evaporate as Empire Sinks to Insolvency
Rene Benko’s stake in the real estate conglomerate he built is potentially worthless following its insolvency filing.
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Rene Benko accumulated the usual trappings on his way to becoming a billionaire: a private jet, a triple-deck superyacht and a 3,000-acre country estate.
Now, the €23 billion ($25 billion) Signa business empire underpinning the Austrian-born property magnate’s riches has collapsed following last-ditch attempts to raise emergency funding.