Austrian construction giant Richard “Mörtel” Lugner (91) was recently in the spotlight at the Vienna Opera Ball with Hollywood icon Priscilla Presley (78). But despite the glamour, the 91-year-old revealed some surprising insights into his financial situation in an interview. As “heute.at” has already reported, Lugner admits debts of 40 million euros – this is a significant amount that raises many questions.
Richard Lugner was once on the verge of bankruptcy
In his long and often high-profile career, which marks Lugner not only as a successful entrepreneur but also as a hard-working celebrity, financial ups and downs are not uncommon. Already in 2003, he was on the verge of bankruptcy with debts of 35 million euros. Today, almost two decades later, the financial tide appears to have turned only to a limited extent. “When you build and invest a lot, you always need money. “I also own certain properties on the other side,” Lugner explains to “Bild”.
Richard Lugner: “Lugner City” already belongs to his children
However, the assets and debts that the 91-year-old man has managed to accumulate over the years are considerable. His estimated net worth is around 80 million euros, which is led by his flagship shopping mall, Lugner City, which opened in September 1990. But Lugner has wisely already passed on some of his fortune to his descendants.
“Lugner City” is 100 percent owned by the Lugner-Söhne Foundation, and he manages the company with his two sons and a daughter. Lugner answers the question of how the huge mountain of debt will be handled, referring to the fulfillment of the long-term loan agreement. Despite the financial challenges, his mall appears to be developing profitably.
The construction lion needs to save money – but could he soon have a mate?
After previously spending large sums on high-profile prom guests such as Priscilla Presley, Julia Roberts, 56, and Kim Kardashian, 43, saving is now the order of the day. “But we don't want to afford a megastar like Julia Roberts,” Lugner told Bild. The glory days of star guests next to Lugner could perhaps be over.
Despite everything, Richard Lugner plans to continue attending the Vienna Opera Ball in the coming years as well – he definitely wants to be there at least in 2025. In addition to business plans, private life does not stand still. Lugner ends the conversation with a hint of a possible new relationship and keeps the tension high – at least when it comes to love. But who the lady next to him will be remains his secret.