Meet Daniel Kretinsky: The Enigmatic Czech Billionaire Taking Over Royal Mail

In a landmark decision, the UK government has approved a £3.6 billion takeover of International Distribution Services (IDS), the parent company of Royal Mail, by Czech billionaire Daniel Kretinsky's EP Group. This historic move marks the first time the centuries-old British postal service will come under foreign ownership. The acquisition is set to be finalized in early 2025, making Kretinsky the new boss of Royal Mail.

Who Is Daniel Kretinsky?

Often called the "Czech Sphinx" for his enigmatic public profile, Daniel Kretinsky, 49, is a billionaire businessman, lawyer, and investor. Raised in Brno during the waning days of communism, Kretinsky has built a diverse and expansive empire spanning energy, media, retail, and sports.

He controls Energetický a Průmyslový Holding (EPH), one of Europe’s largest energy conglomerates, which owns power plants, gas infrastructure, and other energy assets across the continent. Beyond energy, Kretinsky has ventured into media, holding stakes in renowned publications like Le Monde (France), Elle Magazine, and Marianne.

Kretinsky’s investments extend into British icons as well. He holds a 10% stake in supermarket giant Sainsbury’s and owns shares in sportswear retailer Foot Locker. In the world of football, he owns Sparta Prague, his hometown team, and has a 27% stake in West Ham United.

Royal Mail’s Future Under Kretinsky

Kretinsky’s acquisition of Royal Mail comes at a critical time for the company, which has been struggling with declining parcel volumes, delivery delays, and pay-related strikes. As the new owner, he plans to modernize the service by introducing innovative solutions like parcel lockers to help Royal Mail compete with e-commerce giants such as Amazon and InPost.

Kretinsky’s strategic vision and focus on innovation have earned him a reputation as an intelligent and meticulous businessman. Colleagues describe him as a hard worker, often sending emails to his staff in the early hours of the morning.

A Life of Luxury and Low Profile

Despite his $9 billion fortune, Kretinsky maintains a low international profile. His luxury portfolio includes a 25% stake in the exclusive Velaa private island resort in the Maldives and Heath Hall, a £65 million mansion in Hampstead, London. The mansion once hosted pop sensation Justin Bieber during a UK tour.

Kretinsky’s low-key approach belies his influence, but the Royal Mail acquisition will likely bring him greater visibility and scrutiny in Britain. In a rare interview, Kretinsky acknowledged that his growing presence in key markets like the UK, France, and Germany is bound to raise questions, which he welcomes as part of doing business at this scale.

What This Means for Royal Mail

With Kretinsky at the helm, Royal Mail is expected to undergo a significant transformation. His leadership could breathe new life into the historic institution, aligning it with the demands of the modern e-commerce landscape. As Britain’s oldest postal service prepares for foreign ownership, all eyes will be on Kretinsky to see if his ambitious plans can restore Royal Mail’s fortunes.