Michal Strnad, owner of the Czech defence and industrial group Czechoslovak Group (CSG), is ranked No. 68 on the Forbes 2026 World’s Billionaires list, tied with Phil Knight, with a net worth of $31.1 billion.
Michal Strnad is a Czech businessman who has owned the Czechoslovak Group since January 2018. He is the son of the group’s founder, Jaroslav Strnad. Few personal details about him are public, so this profile concentrates on the company he owns.
Net Worth and Rank
- Forbes 2026 list: No. 68 (tied with Phil Knight), with $31.1 billion
- Source of wealth: his ownership of CSG, which has over 100 companies and more than 14,000 employees
From Scrapyard to Defence Group
Jaroslav Strnad began as a scrapyard owner in the 1990s and focused on military surplus equipment, which was in huge oversupply after the Warsaw Pact collapsed. In 1995 he founded the family company Excalibur Army, with fewer than 20 employees and 100,000 Czech koruna (about $3,700) in start-up capital. It grew into refurbishing surplus equipment and bought businesses in rail, radar and truck manufacturing.
- 2013: CSG acquired a majority stake in the truck maker Tatra
- 2016: Michal became chairman of the board, and the company was renamed from Excalibur Group to Czechoslovak Group
- 2018: Jaroslav transferred full ownership to Michal, who started the group’s international expansion through acquisitions
- 2024: CSG became one of the world’s largest makers of small-arms ammunition by acquiring The Kinetic Group
The Business Today
CSG is headquartered in Prague and operates in defence, aerospace, ammunition, automotive and railway industries. In 2024, 78% of its revenue came from defence manufacturing and 11.3% from small-arms ammunition. It exports to more than 70 countries; half of its 2024 revenue came from NATO states and 42% from Ukraine. In 2025 Strnad said his aim was to grow CSG into the second-largest defence manufacturer in Europe.
Why It Matters
CSG’s growth is tied to the rise in European defence spending after Russia’s invasion of Ukraine, which makes Strnad’s wealth sensitive to the progress of that war and to government budgets.
Net worth figures change daily with share prices. Rankings here follow the Forbes 2026 World’s Billionaires list, with wealth measured on March 1, 2026.
Image: The reception area of the Czechoslovak Group’s headquarters in Prague-Karlín (file photo, 2020; Michal Strnad is not pictured). Photo: EditorInfoBusiness / Wikimedia Commons (CC BY-SA 4.0)
