Since the beginning of March, bankruptcy proceedings have been ongoing before the Innsbruck regional court against Signa founder René Benko in his capacity as sole owner. Creditor claims recognized so far against the former billionaire amount to around 47 million euros.
The investigations have advanced enough for the bankruptcy administrator Andreas Grabenweger to have made the first statements about Benko's financial situation, reports “Profil.at”.
According to Grabenweger, Benko led a “very flashy” lifestyle. He paid alimony to several members of his family, some of which amounted to five figures of euros per month. Other donations ran into the millions. Benko once bought a horse as a birthday present.
Between 2015 and 2021, Benko earned around 78 million euros
Benko had a consulting contract with Signa Holding until the end of November 2023. Initially, several companies in the Signa group paid him a total of 56,000 euros per month for his advice. The rate was later increased to 60,000 euros per month.
In addition, Benko personally claimed 2.5 percent of the profits, more precisely the result of the ordinary business activities of Signa Holding. For 2021, this claim was around €14 million, although Benko denies having received the money.
In total, Benko still earned around 78 million euros between 2015 and 2021.
Fees and bonuses were only part of Benko's financial sources.
However, Benko added to this €78 million in various ways. Benko once owned works of art worth several million euros and then resold them. The buyer was the Laura Private Foundation, one of Benko's family foundations.
In addition, Benko obtained approval of several credit and loan agreements from his companies and foundations. Signa Holding granted him a line of credit of five million euros. Signa Prime Holding GmbH, for its part, contributed a total of nine million euros to Benko.
The Benko Family Foundation initially granted Benko a loan of five million euros, which over the years grew to 22 million euros. Benko eventually received eight million euros from a subsidiary of the Laura Private Foundation.
Benko is said to have lived in luxury until shortly before the collapse of Signa.
Benko also distributed several properties to family members and foundations. For example, a villa worth tens of millions of euros south of Innsbruck officially belongs to the Laura Private Foundation. Since Benko is not a beneficiary of it, Benko can continue living in the villa. However, he cannot be taken away from the villa.
According to an investigation by the newspaper Bild, Benko maintained his exceptional standard of living until shortly before Signa's bankruptcy. In his villa on Lake Garda he always had at least two maids until the end. Shortly after the rescue of his most important financier, Benko and his employees held a lavish party at a wellness hotel and praised the company's strength.
At this party, Benko said that he soon planned to take a trip around the world with his children. He wanted to travel from one Signa property to another (from Munich, to Berlin, to Hamburg, to Vienna, to the Chrysler Building in the US) and show his children why his father could never be home.