Michal Solowow Net Worth 2024

The estimated net worth of Michal Solowow is $2.1 billion USD.
Real Name Michał Sołowow
Net Worth 2024 $2.1 billion USD
Birthday (Year-Month-Day) 1962-7-11
Nationality Poland
Occupation Businessman
Height m or 0 ft 0 inches
Weight kg or 0 pounds
Marital Status Married
Ethnicity Polish
Education
Kids 3
Kids Names Karolina Sołowow



Michał Sołowow
Sołowow in 2010
Born11 July 1962 (1962-07-11) (age 62)
Kielce, Poland
CitizenshipPoland
EducationKielce University of Technology
OccupationBusinessman
Known forOne of the richest people in Poland
SpouseMarried
Children1
World Rally Championship record
Active years2003–2007, 2010, 2012–2015, 2020-present
Co-driver
Teams
Rallies22
Rally wins0
Podiums0
Stage wins0
Total points0
First rally2003 Swedish Rally
Last rally2024 Rally Poland
Sołowow driving a Peugeot 207 S2000

Michał Sołowow (born 11 July 1962 in Kielce) is a Polish billionaire businessman and rally driver.[1] His industrial group has 18 production plants in 8 countries and sells products in more than 60 countries on six continents and has over 16,000 employees.[2]

His wealth is estimated at approx. 15,509 bn złoty (in 2021) making him the wealthiest person in Poland[3] for fourth consecutive year (15,6 bn złoty in 2020,[4] 13,3 bn złoty in 2019,[5] and 11,41 bn złoty in 2018[6]). He was one of the biggest Polish stock exchange investors (by 2017 he delisted all his major companies[7] from Warsaw Stock Exchange[8]) but remains one of country's top private entrepreneurs and the largest Polish private investor abroad.[9] He is the sole shareholder of the following companies: Synthos (chemical industry), Cersanit (sanitary ceramics and tiles) and Barlinek (producer of floorboards). The three companies remain at the core of Sołowow's capital group and are his main assets.

In 2022, Forbes estimated his net worth at US$6.2 billion making him 411th wealthiest person in the world.[10]

Business empire

Sołowow studied at Kielce University of Technology.[11] In 1980s he earned money working in the West, so he was able to create Mitex construction enterprise in late 1980s in Kielce, when freedom of business was announced in still communist Polish People's Republic.[11] After political and economical transformation in early 1990s, Mitex became one of bigger companies on regional construction market. Sołowow then became an active Warsaw Stock Exchange investor.[11]

Sołowow bought shares in the chemical company Dwory (now Synthos) and funded its expansion with debt, taking advantage of low interest rates at the time. He then diversified into ceramic tiles, wood floors, real estate, new technologies and biotechnology sector. He gave up any direct management roles but is still an active investor (mostly on the private equity market).

In October 2019, Synthos Green Energy S.A., a Synthos Group company, entered into an agreement with US-Japanese GE Hitachi Nuclear Energy for cooperation in the potential construction of a nuclear power plant in Poland based on small modular reactors (SMR) BWRX-300 technology.[12] This is the first agreement of this type concluded by a Polish private company.

Sołowow manages his assets through several funds including: Black Forest SICAV-SIF fund,[13] FTF Columbus Fund, FTF Galleon,[14] Magellan Pro-Equity Fund I S.A.[15]

Sołowow also makes investments via IPOPEMA 112 FIZAN fund (e.g. Genicore,[16] OncoArendi Therapeutics[17]).

He is sole or key shareholder of the following companies:

  • Synthos S.A. (chemical industry). One of the largest Polish chemical companies. It manufactures synthetic rubber and latex, styrene materials and vinyl dispersions;[18]
  • Cersanit S.A. – (sanitary ceramics and tiles). As of 2019 Cersanit is the largest ceramic tiles producer in Poland and second largest in Europe with 35% market share in Poland, 8% in Germany, 50% in Romania, and 40% in Ukraine. The company is the third largest ceramic products manufacturer in Europe and seventh in the world.[19] In 2007 Sołowow merged Cersanit with Opoczno[20] at the time the largest ceramic tiles manufacturer in Poland and second largest in Europe.[21]
  • Barlinek S.A. (producer of floorboards). One of the largest manufacturers of natural wooden flooring systems in the world, and the most recognizable brand of natural floors in Poland. Barlinek floorboards are exported to 75 countries on 6 continents.[22] In 2012 the company had 60% of the Polish floorboard market;[23]
  • Komfort (carpets and linings retail chain);[24]
  • Homla (interior decoration retail chain);[25]
  • Nexterio (home decor);[26]
  • Corab (largest manufacturer and distributor of elements for photovoltaics installations in Poland);[27]
  • WP Systems (maintenance services for offshore wind farms);[28][29]
  • Syntos Green Energy (part of Synthos Group, responsible for new energy projects - offshore wind, nuclear, hydrogen);[30]
  • New Era Materials (composite materials from epoxy resins);[31]
  • 3DGence (manufacturer of 3D printers);[32]
  • Genicore (manufacturer of ovens for composite materials production);[33][34][16]
  • OncoArendi (R&D of particles for the production of drugs for the treatment of inflammatory diseases and cancer; WSE-listed);[17]
  • ExploRNA Therapeutics (R&D of mRNA modification technologies);[35]
  • LifeFLow (R&D of non-invasive coronography technologies);[36]
  • Tikrow (online temporary work platform);[37]
  • GETCAR (car leasing);[38]
  • North Food – operator of restaurant chains in Poland and United Kingdom (North Food: fish and seafood; John Burg: New Zealand beef burgers; Veggie Hub);[39]
  • Yamly - a start-up company, producer and distributor of plant-based foods.[40]

Sołowow's closed investments include:

  • Max (food retail chain) - founded in 1992 and sold to Dutch group Ahold in 1996;[41]
  • NOMI (first DIY retail chain in Poland) - founded in 1994 and sold in 1999 to Kingfisher plc;[42]
  • Exbud (construction)- minority stake sold to Swedish Skanska in 2000;[43]
  • Viscoplast (manufacturer of medical dressings) - minority stake sold to 3M in 2001;[44]
  • Mitex (construction and real estate development) - Sołowow founded the company in 1980s and sold to French group Eiffage in 2002;[7]
  • Echo Dnia/Słowo Ludu (local daily newspapers) - both purchased in the 1990s and sold in 2005 to Norwegian Orkla;[41]
  • UltraPack S.A. (production of corrugated board packagings) – Sołowow bought the company in 2003[45] and sold in 2007[46] to British multinational packaging group Mondi;
  • Echo Investment (real estate development) - Sołowow founded the company in 1994 and sold his shares in 2015 to Oaktree and PIMCO;[11]

Rally career

Sołowow was interested in amateur rally driving as a teenager. In 2001, thanks to sponsorship of his companies Synthos and Cersanit, he started professional rally career, aside from his business activities.[11] After several years of training and starts, he began to obtain good results. He was the European vice-champion (2008, 2009, 2012), the vice-champion of Poland (2006, 2010), the European second vice-champion (2006, 2010), and second vice-champion of Poland (2004, 2005). He suspended his career in 2015[11] and resumed it in 2020.[47]

WRC results

Year Entrant Car 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 WDC Points
2003 Cersanit Rally Team Mitsubishi Lancer Evo VII MON SWE
43 		TUR NZL ARG GRE CYP GER
33 		FIN AUS ITA FRA ESP GBR NC 0
2004 Cersanit Rally Team Mitsubishi Lancer Evo VII MON SWE
30 		MEX NZL CYP GRE TUR ARG FIN GER JPN GBR ITA FRA ESP AUS NC 0
2005 Cersanit Rally Team Mitsubishi Lancer Evo VII MON SWE
Ret 		MEX NZL ITA CYP TUR GRE ARG FIN GER GBR JPN FRA ESP AUS NC 0
2006 Cersanit Rally Team Subaru Impreza WRC 05 MON SWE
33 		MEX ESP FRA ARG ITA GRE GER FIN JPN CYP TUR AUS NZL NC 0
Mitsubishi Lancer Evo IX GBR
40
2007 Cersanit Rally Team Mitsubishi Lancer Evo IX MON SWE
21 		NOR MEX POR ARG ITA GRE FIN GER NZL ESP FRA JPN IRE NC 0
Errani Team Group Fiat Abarth Grande Punto S2000 GBR
Ret
2010 Michał Sołowow Peugeot 207 S2000 SWE
22 		MEX JOR TUR NZL POR BUL FIN GER JPN FRA ESP GBR NC 0
2012 M-Sport Ford World Rally Team Ford Fiesta RS WRC MON SWE
20 		MEX POR ARG GRE NZL FIN GER GBR FRA ITA ESP NC 0
2013 Michał Sołowow Peugeot 207 S2000 MON SWE
12 		MEX POR ARG GRE ITA FIN GER AUS FRA ESP NC 0
Qatar M-Sport World Rally Team Ford Fiesta RS WRC GBR
14
2014 M-Sport World Rally Team Ford Fiesta RS WRC MON SWE
17 		MEX POR ARG ITA FIN
Ret 		GER AUS FRA ESP GBR NC 0
Michał Sołowow POL
Ret
2015 Synthos Cersanit Rally Team Ford Fiesta RS WRC MON SWE
Ret 		MEX POR ARG ITA POL FIN GER AUS FRA ESP GBR NC 0
2020 Barlinek Synthos RT Škoda Fabia R5 MON SWE
24 		MEX EST TUR ITA MNZ NC 0
2021 Michał Sołowow Citroën C3 Rally2 MON ARC
26 		CRO POR ITA KEN EST BEL GRE FIN ESP MNZ NC 0
2022 Michał Sołowow Volkswagen Polo GTI R5 MON SWE
16 		CRO POR ITA KEN EST FIN BEL GRE NZL ESP JPN NC 0
2023 Michał Sołowow Škoda Fabia RS Rally2 MON SWE
21 		MEX CRO POR KEN EST FIN GRE CHL EUR JPN NC 0
2024 Printsport Škoda Fabia RS Rally2 MON SWE
14 		KEN CRO POR ITA POL
27 		LAT FIN GRE CHL EUR JPN NC* 0*

* Season still in progress.

PWRC results

Year Entrant Car 1 2 3 4 5 6 7 8 PWRC Points
2007 Errani Team Group Fiat Abarth Grande Punto S2000 SWE MEX ARG GRE NZL JPN IRE GBR
Ret 		NC 0

Personal life

Sołowow owns a residence in Masłów, a village on the borders of his hometown Kielce in Świętokrzyskie voivodship.[48] His daughter, Karolina Sołowow (b. 1986), runs a charitable foundation "Fabryki Marzeń" ("Factories of Dreams") supporting disadvantaged youth.[49]

References

  1. ^ "Forbes Billionaires Profile: Michał Sołowow". Forbes. Retrieved May 26, 2021.
  2. ^ "SGE and Exelon Generation Completed the Works on Deployment Feasibility Study - Synthos S.A." www.synthosgroup.com. Archived from the original on 2021-06-24. Retrieved 2021-03-31.
  3. ^ "Najbogatsi Polacy 2021. Sylwetki bohaterów listy "Forbesa"". Forbes.pl (in Polish). Retrieved 2021-03-31.
  4. ^ "Lista najbogatszych Polaków - Forbes 2020. Michał Sołowow na czele zestawienia". www.money.pl (in Polish). Retrieved 2021-03-31.
  5. ^ Grzeszak, Adam (2019-03-19). "Na czym się dorobił najbogatszy Polak". www.polityka.pl (in Polish). Retrieved 2021-03-31.
  6. ^ "Lista 100 Najbogatszych Polaków 2018 z absolutnym rekordem". Forbes.pl (in Polish). Retrieved 2021-03-31.
  7. ^ a b "Michal Solowow". Forbes. Retrieved 2021-03-31.
  8. ^ "Jak Sołowow ściągał spółki z GPW". pb.pl (in Polish). Retrieved 2021-03-31.
  9. ^ "Najbogatsi ludzie w Polsce. Michał Sołowow wskoczył na pierwsze miejsce". Business Insider (in Polish). 2019-02-28. Retrieved 2021-03-31.
  10. ^ "Forbes World's Billionaires List. The richest in 2022". Forbes. Retrieved 4 October 2022.
  11. ^ a b c d e f Grzeszak, Adam (2016). "Mistrz cichej jazdy" [Quiet ride champion]. Polityka (in Polish). No. 12/2019 (3203) (published 19 March 2019). p. 36.
  12. ^ "GE Hitachi Nuclear Energy Announces Small Modular Reactor Technology Collaboration in Poland | GE News". www.ge.com. Retrieved 2021-03-31.
  13. ^ "GESSEL advises the Black Forest fund on an investment in Tikrow". Swiss Chamber Poland. Retrieved 2021-03-31.
  14. ^ "Sołowow wycofuje się z giełdy. FTF Galleon ogłosił wezwanie na Synthos". StockWatch.pl - giełda od fundamentów - wiadomości. 2017-10-27. Retrieved 2021-03-31.
  15. ^ "Current report no. 68/2008 - Echo Investment". en.echo.com.pl. Retrieved 2021-03-31.
  16. ^ a b "News - Invest Concept Autoryzowany Doradca NewConnect". www.investconcept.pl. Retrieved 2021-03-31.
  17. ^ a b "Relacje Inwestorskie". OncoArendi Therapeutics (in Polish). Archived from the original on 2021-04-11. Retrieved 2021-03-31.
  18. ^ "Synthos S.A." www.synthosgroup.com. Retrieved 2021-03-31.
  19. ^ "Cersanit S.A. - leader on the market of sanitary ceramics and ceramic tiles". Cersanit corporate website. July 22, 2019. Retrieved March 31, 2021.
  20. ^ "Solowow Agrees on Opoczno and Cersanit Merger". www.tmcnet.com. Retrieved 2021-03-31.
  21. ^ Turkiewicz, Dariusz (October 6, 2005). "Leadership at cost of margins. [in: Ceramic Producers - sector update by Dom Maklerski BZ WBK]" (PDF). Bankier.pl. Retrieved March 31, 2021.
  22. ^ "Grupa Barlinek". Barlinek (in Polish). Retrieved 2021-03-31.
  23. ^ Brymora, Krystian (November 19, 2012). "Barlinek Raport Analityczny 19 listopad 2012 (Barlinek Analytical Report November 19, 2012 in Polish)". Dom Maklerski BDM S.A. Retrieved March 31, 2021.
  24. ^ Cichla, Aneta. "Sołowow company buys Komfort chain | EurobuildCEE". eurobuildcee.com. Retrieved 2021-03-31.
  25. ^ "New York". PZU (in Polish). Retrieved 2021-03-31.
  26. ^ https://www.linkedin.com/in/micha%C5%82-so%C5%82owow-49a53837/ [self-published source]
  27. ^ "GESSEL assists the Michał Sołowow-owned Black Forest fund in its investment in Corab". GESSEL. 2020-12-31. Retrieved 2021-03-31.
  28. ^ "WP Systems – maintenance and dismantling solutions for your wind turbines". wpsystems.com. Retrieved 2021-03-31.
  29. ^ "Fotowoltaika skusiła kolejnego miliardera! Sołowow kupuje udziały w polskiej spółce » GLOBEnergia". GLOBEnergia (in Polish). 2020-12-15. Archived from the original on 2021-04-22. Retrieved 2021-03-31.
  30. ^ "Synthos Green Energy - Synthos S.A." www.synthosgroup.com. Archived from the original on 2021-06-24. Retrieved 2021-03-31.
  31. ^ "New Era Materials | Composites | Epoxy Resin | Innovation | Labs". neweramaterials.com. Retrieved 2021-03-31.
  32. ^ "About us - company profile and history". 3DGence. Retrieved 2021-03-31.
  33. ^ "Home". GeniCore | Genius at the Core. Retrieved 2021-03-31.
  34. ^ Gratkiewicz, Jacek. "Człowiek Roku money.pl: Michał Sołowow". www.money.pl (in Polish). Retrieved 2021-03-31.
  35. ^ "Poland's richest man invests in mRNA technology". polandin.com. Retrieved 2021-03-31.
  36. ^ "Najbogatszy Polak inwestuje w technologię mRNA, która jest stosowana w szczepionkach na COVID-19". Business Insider (in Polish). 2020-12-21. Retrieved 2021-03-31.
  37. ^ "Aktualność - Invest Concept Autoryzowany Doradca NewConnect". www.investconcept.pl. Retrieved 2021-03-31.
  38. ^ "Michał Sołowow: kim jest najbogatszy Polak? [RODZINA, MAJĄTEK, FIRMY, RAJDY] - Radio ZET". www.radiozet.pl (in Polish). 2019-02-28. Retrieved 2021-03-31.
  39. ^ "North Food Polska S.A." Retrieved 2021-03-31.
  40. ^ "GESSEL successfully advises the founders of Yamly in proceedings before UOKiK". GESSEL. 2021-01-12. Retrieved 2021-03-31.
  41. ^ a b "Kielczanin Michał Sołowow wśród pięciu ludzi - gigantów, którzy zmienili polską gospodarkę!". Echo Dnia (in Polish). 2014-04-24. Retrieved 2021-03-31.
  42. ^ Wrobel, Stanisław (2021-02-25). "Kielczanin Michał Sołowow ponownie najbogatszym Polakiem! Jest lista magazynu "Forbes" 2021". Echo Dnia Świętokrzyskie (in Polish). Retrieved 2021-03-31.
  43. ^ "Skanska acquires shares in the leading Polish contractor Exbud". Skanska - Global corporate website. Archived from the original on 2021-04-22. Retrieved 2021-03-31.
  44. ^ "3M przejmuje Viscoplast". www.parkiet.com (in Polish). Retrieved 2021-03-31.
  45. ^ "Wyborcza.pl". szczecin.wyborcza.pl. Retrieved 2021-03-31.
  46. ^ "Rajdowiec na biznesowym zakręcie". Newsweek.pl (in Polish). 11 March 2018. Retrieved 2021-03-31.
  47. ^ "Michal Solowow World Rally Championship | Motorsport Stats". results.motorsportstats.com. Retrieved 2021-06-01.
  48. ^ Stanek, Aleksandra (2014-11-14). "Tu mieszkają najbogatsi, czyli top 10 najdroższych nieruchomości świata". WP money (in Polish). Retrieved 2021-03-31.
  49. ^ "Kim jest Karolina Sołowow, córka najbogatszego Polaka". Business Insider (in Polish). 2021-02-27. Retrieved 2021-03-31.

Media related to Michał Sołowow at Wikimedia Commons

Fact Sheet

  • Wondering what Michal Solowow's real name is? Michal Solowow's real name is Michał Sołowow
  • Michal Solowow's nationality is Poland
  • Michal Solowow is a(n) Businessman
  • Michal Solowow was born on 1962-7-11
  • Michal Solowow is 62 years old
  • Is Michal Solowow single or married? Michal Solowow is Married!
  • Michal Solowow is a proud parent of 3 kids
  • Michal Solowow's kids are Karolina Sołowow

FAQ

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