Benko is financially dependent on his mother following bankruptcy

Benko is financially dependent on his mother following bankruptcy

According to a report in the “Tiroler Tageszeitung” (Saturday edition), the founder of the struggling Signa conglomerate, Rene Benko, who is also personally bankrupt, has disclosed minimal assets in his bankruptcy proceedings. The report indicates that Benko is now reliant on the financial support of his mother, as outlined in the insolvency administrator’s report quoted by the newspaper.

The report reveals that Benko had been earning a substantial gross monthly income of 60,480 euros as an “employee” of Signa Holding until November 2023. He also received an annual bonus of 2.5 percent of Signa Holding’s pre-tax profits, which could amount to up to one billion euros. In addition, he received fees ranging from 200,000 to 300,000 euros annually through consulting contracts with Signa companies. It was previously reported that in 2019 alone, Benko received a salary of 29 million euros.

In contrast, Benko currently claims to earn a modest 3,700 euros a month as an employee of two of his companies. The insolvency administrator’s report notes that Benko’s bank accounts contain relatively small balances and that his declared assets are still under examination, revealing his lack of properties or investments in Austria and minimal valuable assets.

According to the newspaper, there is speculation surrounding the whereabouts of Benko’s missing assets. Despite his personal bankruptcy, Benko and his family reportedly continue to live luxuriously. His wife and daughters maintain expensive hobbies, such as attending exclusive riding tournaments and owning horses. Insiders estimate that these hobbies could cost a significant amount each month.

Overall, the reports shed light on Benko’s financial situation and raise questions about his assets and lifestyle choices in the midst of his company’s financial troubles.

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