The threat of a crisis is growing, but Czech millionaires remain calm. See where they invest

Kateřina Hovorková

1 hour ago

Keep calm, invest for the long term and look for new opportunities to buy. This is how the wealthiest Czechs deal with the drop in fortunes in the past year. This year they want to focus mainly on buying shares of foreign companies, land and they want to invest in art. See what else J&T Bank found out in its Wealth Report 2022 analysis, which monitors the behavior of Czech and Slovak dollar millionaires.

Photo: Reuters

Millionaire = most often a man in his fifties

Czech dollar millionaires are people who have assets of at least 22 million crowns. On average, they are 53 and 55 years old. Most of them are still economically active, despite the growing number of pensioners. Most often, dollar millionaires are entrepreneurs.

Despite the year-on-year increase in women, the world of dollar millionaires remains primarily a man’s world. “In the future, however, we can continue to expect an increasing percentage of women among the richest. As in the world, here, too, it will mainly be the successors and family members of wealthy families, in which the property will be passed down for generations,” according to a survey by J&T Bank.

According to the bank, Czechs view rich people with prejudices. “The rich are perceived stereotypically by the general population, they are underestimated on the way to success, and wealth is primarily their merit – hard work and intelligence. Only criminals and marijuana users can be criticized as rich without prejudice,” the analysis reads.

But if someone knows a rich person personally, they evaluate him much more often as hardworking and intelligent. “We also wrongly imagine the rich as someone who only cares about money. We also imagine them to be significantly less optimistic than they actually are,” adds bank spokeswoman Kateřina Veselá.

  • Last fall, the Wealth Report analysis found out what the richest people in the Czech Republic and Slovakia invest in, what they believe in, but also what they fear and what they warn against. You will find out in the following overview.

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