Karel Komarek Success Story

Business Success

Karel is one of the youngest Czech billionaires across the globe. He founded KKCG as an oil extraction business in early 1990s. Komarek says, ‘It was quite challenging after the communist regime to start a business’. During his early business years, he worked as a technician at the warehouse, as a morning driver, and as the company’s director during the day. He did not have many employees, and did not have enough money to pay their wages.

Then, he acquired MND (Moravske Naftove Doly AS), and took it to a global level in Russia, Germany, Italy, Romania and Ukraine. As of now, he employs more than 10,000 men and women. Now, the assets of KKCG alone are worth $2.5 billion, including businesses in gas, lotteries and tourism, along with investments in biomedicine and technology.

Today, he serves as the founder, owner and chairman of board of KKCG, and also the director of MND.All of family members are involved into Karel’s business, including his father, uncle and sister. His father provides leadership and guidance towards new projects that Komarek often dreams of, while his sister takes care of the accounting, auditing and taxes. Karel’s uncle oversees MND.

In addition to business, Karel also contributes significantly towards Czech culture. He is a music lover, and provides an annual award of Antonin Dvorak to the deserving artists of Czech Republic. He invests $5 million every year towards renovations of Czech parks, and gives donations to aid Czech culture and art.

Komarek frequently spends his time in Europe and US, and contributes sizably on philanthropy. He does not only give money for the purposes, but also takes care of the ongoing activities. According to him, ‘Its part of my life, to do the business and to somehow support and be part of social responsibility’.