London (CNN Business) -
Czech billionaire Petr Kellner was one of five people killed when his helicopter crashed near a glacier in Alaska during a ski trip on Saturday.
PPF Group, the Czech investment company that Kellner co-founded, confirmed his death in a statement Monday.
“With great sadness, PPF announces that… Petr Kellner was tragically killed in a helicopter accident in the mountains of Alaska,” the company said.
"His professional life was known for his incredible work ethic and creativity, but his private life belonged to his family," he added.
Who was Petr Kellner?
Kellner, 56, helped establish PPF in 1991 to participate in the privatization of the Czech economy after the fall of communism.
He owned nearly 99% of the firm, which has stakes in more than two dozen companies around the world, according to its website.
Kellner had a net worth of $ 15.7 billion and was the only individual from the Czech Republic on the Bloomberg Billionaires Index, a list of the 500 richest people in the world.
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According to a statement from Alaska State Police, four other people, including the helicopter pilot, were killed in the crash near Knik Glacier.
One passenger was in serious but stable condition.
According to the statement, the helicopter was an Airbus AS350 B3, owned by Soloy Helicopters.
The company did not immediately respond to a request for comment outside of normal business hours.
"The group is believed to have been heliskiing in the area," the Alaska State Police statement said, adding that the National Transportation Safety Board will conduct an investigation into the cause of the accident.
Heliskiing involves using a helicopter instead of a chairlift to access remote terrain.
Tordrillo Mountain Lodge, which is located in Judd Lake, Alaska, said some of its guides and guests were on the aircraft.
“This news is devastating for our staff, the community in which we operate and the families of the deceased.
In 17 years of operations this is the first time that we have had to face an event of this measure, "said Tordrillo Mountain Lodge in a statement.
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It is unclear who will succeed Kellner as head of PPF, which had assets of nearly $ 44 billion at the end of June 2020. In addition to being its largest shareholder, Kellner oversaw the group's strategic development and future direction.
Moneta Money Bank shares fell as much as 4.3% in Prague on Monday before recovering some losses.
PPF said earlier this month that it had committed to buying a 28.4% stake in the Czech bank.
Shares in O2 Czech Republic, another of PPF's investments, fell 0.8%.
Czech President Miloš Zeman held Kellner in "high regard" for his commercial successes and "deeply regrets his tragic death," a spokesman said.
Czech Prime Minister Andrej Babiš tweeted: “It is an incredible tragedy.
I am very sorry, my condolences to the Petr Kellner family.
A leading figure in the Czech business world, Kellner's philanthropic efforts focused on education and were managed through the Kellner Family Foundation, which he established with his wife, Renáta Kellnerová.
PPF donated 100 million CZK (US $ 4.5 million) to its government for respirators, masks and test kits at the start of the coronavirus pandemic.
- Ivana Kottasová contributed reporting.
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