Michal Strnad
Czech businessman; owner and chief executive of the defence group CSG
| Michal Strnad
| |
|---|---|
| Born | 4 August 1992 (Forbes) Chrudim, Czech Republic (Forbes) |
| Nationality | Czech |
| Residence | Chrudim, Czech Republic (Forbes) |
| Occupation | Businessman |
| Known for | Owner and CEO of Czechoslovak Group (CSG) |
| Children | 1 (Forbes) |
Michal Strnad (born 4 August 1992) is a Czech businessman. He is the majority owner and chief executive of Czechoslovak Group (CSG), a defence and industrial group that makes ammunition, military vehicles and other equipment.[1][2] On 11 November 2026 the Forbes Real-Time Billionaires list ranked Strnad 247th in the world, with an estimated net worth of US$12.8 billion; Forbes lists the source of wealth as defense contracting.[1][3] In the annual World's Billionaires list published in 2026, Forbes had ranked Strnad 68th, at US$31.1 billion.[4] CSG listed on Euronext Amsterdam on 23 January 2026, raising €3.8 billion at a market value of €25 billion. Euronext called it the world's largest defence IPO.[5] In 2025 the Czech business paper E15 reported that deliveries to Ukraine played a key role in the group's trading profits.[6]
Background
Forbes says Strnad's father founded CSG in 1995 and that Strnad inherited it in 2018.[1]
CSG
Euronext describes CSG N.V. as a Dutch company with its main management headquarters in Prague. It calls CSG the second-largest maker of medium- and large-calibre ammunition in Europe and the largest maker of small-calibre ammunition in the world, selling in more than 70 countries.[5] Forbes says the group also owns the Czech watchmaker PRIM.[1]
The Kinetic Group
On 27 November 2024 CSG completed its takeover of The Kinetic Group, the leading US maker of small-calibre ammunition. Its brands include Federal, Remington, CCI, Speer and Hevi-Shot, and it has plants in Minnesota, Arkansas, Idaho and Oregon employing 3,800 people. CSG said it had revenue of US$1.5 billion in fiscal 2024.[7]
Stock market listing
CSG's shares began trading on Euronext Amsterdam on 23 January 2026 at €25 each, valuing the company at €25 billion. The offering raised €3.8 billion, assuming the over-allotment option was fully exercised.[5] CSG said Strnad rang the opening bell as owner and chief executive. It said only a minority stake was now traded or held by institutional investors, and that the group would continue to be led by the same majority owner.[2] Forbes put the amount raised at US$4.5 billion.[1]
Supplies to Ukraine
In September 2025 E15 reported that CSG's 2024 EBITDA was €1.079 billion on revenue of €4.008 billion, and that €471.6 million of the EBITDA came from trading. It said deliveries to Ukraine played a key role. Those deliveries went through the subsidiary Excalibur Army, whose gross operating profit it put at €605 million.[6] The paper said CSG weapons and ammunition reached Ukraine by three routes, including the Czech-led ammunition initiative. Under that scheme the defence ministry's AMOS agency collects Ukraine's requests and matches them with countries willing to pay, and arms makers then compete for the orders. It said CSG had been very successful in those tenders.[6]
Personal life
Forbes describes Strnad as a car and motorsport enthusiast.[1]
Wealth
Forbes classes his wealth as inherited and growing, from defence contracting.[1]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 4 of the editions from 2001 to 2026 checked for this profile, starting with 2023. The table gives the rank and estimated net worth in each annual list.[4][1]
| Year | World's Billionaires rank | Net worth (US$ bn) |
|---|---|---|
| 2023 | 1516 | 2.0 |
| 2024 | 712 | 4.4 |
| 2025 | 801 | 4.5 |
| 2026 | 68 | 31.1 |
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
No documented involvement found in sources checked.
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
No documented involvement found in sources checked.
China
No documented involvement found in sources checked.
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
No documented involvement found in sources checked.
Other international links
CSG supplies ammunition to Ukraine, partly through the Czech-led ammunition initiative, and owns The Kinetic Group in the United States.[6][7]
See also
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Forbes, Forbes profile record for Michal Strnad (Forbes data feed behind forbes.com/profile/michal-strnad/) Forbes, live record, read 11 November 2026, accessed 11 November 2026.
- ↑ 2.0 2.1 CSG, CSG enters the Euronext Amsterdam stock exchange csg.com, 23 January 2026, accessed 11 November 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 11 November 2026 07:10 UTC, accessed 11 November 2026.
- ↑ 4.0 4.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 11 November 2026.
- ↑ 5.0 5.1 5.2 Euronext, Czechoslovak Group lists on Euronext Euronext, 23 January 2026, accessed 11 November 2026.
- ↑ 6.0 6.1 6.2 6.3 Lenka Zlámalová, Strnada vystřelily zisky z prodeje zbraní na Ukrajinu. Výrazně vydělal na české muniční iniciativě e15, 2 September 2025, accessed 11 November 2026.
- ↑ 7.0 7.1 CSG, CSG consummates the acquisition of The Kinetic Group csg.com, 27 November 2024, accessed 11 November 2026.