René Benko (born 20 May 1977) is a bankrupt Austrian real estate, media and retail investor, and founder of
Signa Holding
Signa Holding GmbH (stylized SIGNA) is Austria's largest privately owned real estate company. Signa Holding GmbH announced insolvency proceedings at the end of November 2023. The company will apply for self-administration restructuring proceed ...
. The company was considered Austria's largest privately held real estate
conglomerate. Benko was considered one of the richest Austrians and had very good relations with leading politicians in Austria from all parties.
Numerous controversies have surrounded Benko’s professional career. In March 2024 Benko declared
personal insolvency.
In April 2024, the Liechtenstein public prosecutor's office has stated that criminal proceedings against Benko have been opened. The
Trent public prosecutor's office issued an arrest warrant against Benko in December 2024 and searched numerous offices and apartments. The authority has justified this with investigations in connection with real estate speculation in the
Trentino
Trentino (), officially the Autonomous Province of Trento (; ; ), is an Autonomous province#Italy, autonomous province of Italy in the Northern Italy, country's far north. Trentino and South Tyrol constitute the Regions of Italy, region of Tren ...
region and the neighboring region of
Alto Adige
South Tyrol ( , ; ; ), officially the Autonomous Province of Bolzano – South Tyrol, is an autonomous province in northern Italy. Together with Trentino, South Tyrol forms the autonomous region of Trentino-Alto Adige/Südtirol. The provinc ...
.
On 23 January 2025, he was arrested. The Austrian ''Central Public Prosecutor's Office for the Prosecution of Economic Crimes and Corruption'' (Wirtschafts- und Korruptionsstaatsanwaltschaft) said reasons are suspicion of fraud and corruption as well as the risk of obfuscation.
Life
Benko was born in
Innsbruck
Innsbruck (; ) is the capital of Tyrol (federal state), Tyrol and the List of cities and towns in Austria, fifth-largest city in Austria. On the Inn (river), River Inn, at its junction with the Wipptal, Wipp Valley, which provides access to the ...
,
Tyrol
Tyrol ( ; historically the Tyrole; ; ) is a historical region in the Alps of Northern Italy and western Austria. The area was historically the core of the County of Tyrol, part of the Holy Roman Empire, Austrian Empire and Austria-Hungary, f ...
, Austria as the son of a local government employee and
nursery schoolteacher. At the age of 17 he gained his first experience of the real estate sector in a building company owned by an acquaintance.
Benko lives mainly in Innsbruck. He has married twice and has four children. Apart from that, little is known about Benko's private life.
Part of his assets lie with "Laura", Benko's private foundation. The foundation was named after his daughter Laura.
In 2024, Benko had to sell the yacht ''Roma''.
In 2023, it had been estimated around 40 million euros.
In June 2021, Benko's private foundation purchased
a Picasso painting, ''L'Étreinte'' (painted 1969).
The foundation mandated
Sotheby's
Sotheby's ( ) is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine art, fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...
in October 2024 to sell it; in January 2025, it got about 11 million € for it.
Network
Before his bankruptcy, Benko maintained an extensive network of contacts in Austrian politics.
Alfred Gusenbauer
Alfred Gusenbauer (; born 8 February 1960) is an Austrian politician who until 2008 spent his entire professional life as an employee of the Social Democratic Party of Austria (SPÖ) or as a parliamentary representative. He headed the SPÖ from 2 ...
, former
SPÖ
The Social Democratic Party of Austria ( , SPÖ) is a social democratic political party in Austria. Founded in 1889 as the Social Democratic Workers' Party of Austria (, SDAPÖ) and later known as the Socialist Party of Austria () from 1945 unt ...
chancellor, said he was friends with Benko. He was member of the advisory board of Signa Holding.
Susanne Riess-Hahn, former
FPÖ
The Freedom Party of Austria (, FPÖ) is a political party in Austria, variously described as far-right, right-wing populist, national-conservative, and Eurosceptic. It has been led by Herbert Kickl since 2021. It is the largest of five par ...
vice chancellor, was also on the Signa Holding advisory board.
Business activities
Foundation and first investments

At the end of 1999 Benko founded the two-person company Immofina Holding, which was renamed Signa Holding in 2006.
The first projects included the extension of attics into luxury apartments and the profitable purchase and sale of the health hotel Lanserhof in
Lans. After these successes, the Viennese entrepreneur Karl Kovarik, who inherited several
gas stations
A filling station (also known as a gas station [] or petrol station []) is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold are gasoline (or petrol) and diesel fuel.
Fuel dispensers are used to ...
, contributed to the first financial jump-start with 25 million euros.
The next steps included the purchase of 16 inner-city properties from the portfolio of
BAWAG P.S.K. bank in 2007, as well as the opening of medical centers in
Vienna
Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...
, and the acquisition of the
Kaufhaus Tyrol, which was completely renovated between 2007 and 2010. The planning of the latter was carried out by the renowned architect David Chipperfield. In 2008, the former
headquarters
Headquarters (often referred to as HQ) notes the location where most or all of the important functions of an organization are coordinated. The term is used in a wide variety of situations, including private sector corporations, non-profits, mil ...
of
Länderbank and
Bank Austria became the property of Signa Holding and was converted into the
Park Hyatt Vienna hotel. In 2011, the company bought the Oberpollinger department store in
Munich
Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...
. Furthermore, a portfolio of buildings consisting of
KaDeWe
The , abbreviated to KaDeWe, is a Thai owned department store in Berlin, Germany. With over of retail space and more than 380,000 articles available, it is the second-largest department store in Europe after Harrods in London. It attracts 40,000 ...
and
Karstadt
Karstadt Warenhaus GmbH was a German department store chain whose headquarters were in Essen.
Until 30 September 2010 the company was a subsidiary of Arcandor, Arcandor AG (which was known until 30 June 2007 as KarstadtQuelle AG) and was respo ...
properties was acquired in 2012. Following these investments, Signa bought the commercial businesses of KaDeWe in 2013, and Karstadt in 2014.
Expansion towards a holding company
On 18 June 2013, Benko retired from the operational leadership of Signa Holding and took over the chairmanship of the Advisory Board of the Signa Group, shortly before his conviction for bribery was confirmed by the Austrian criminal appeals court. The conviction, a suspended 12-month prison sentence, was later confirmed by the Austrian Supreme Court.
In 2013, the new company division Signa Retail was founded. With the acquisition of the Karstadt department store chain in 2014, as well as several online and multi-channel retailers, Benkos Signa Holding became a significant company in the retail sector. Since 2014, several projects have been completed in Austria and other European countries. Another milestone was the approval of the WaltherPark shopping center in
Bolzano
Bolzano ( ; ; or ) is the capital city of South Tyrol (officially the province of Bolzano), Northern Italy. With a population of 108,245, Bolzano is also by far the largest city in South Tyrol and the third largest in historical Tyrol. The ...
in 2016 by a
referendum
A referendum, plebiscite, or ballot measure is a Direct democracy, direct vote by the Constituency, electorate (rather than their Representative democracy, representatives) on a proposal, law, or political issue. A referendum may be either bin ...
, there have also been further expansions in e-commerce since 2017, such as the acquisition of Probikeshop or hood.de.
After the acquisition of the Austrian furniture chain
Kika-Leiner with around 6500 employees in June 2018, negotiations on the acquisition of the department store chain Kaufhof were resumed in July 2018 by Signa Holding under the leadership of René Benko. On 11 September, the merger of
Karstadt
Karstadt Warenhaus GmbH was a German department store chain whose headquarters were in Essen.
Until 30 September 2010 the company was a subsidiary of Arcandor, Arcandor AG (which was known until 30 June 2007 as KarstadtQuelle AG) and was respo ...
and
Kaufhof
Galeria Kaufhof GmbH was a German department store chain, headquartered in Cologne. It was a member of the International Association of Department Stores from 1930 to 2010, with various CEOs acting as presidents of the Association over time.
U ...
was officially confirmed. Soon after this merger the public debate around the acquisition and Benko's business practices in general intensified.
In November 2018, the first investment in the
media sector was announced through the acquisition of shares in the Austrian daily newspapers ''
Kronen Zeitung'' and
Kurier
''Kurier'' is a German-language daily newspaper based in Vienna, Austria. In 2023, it had an edition of approximately 103,000 copies.
History and profile
''Kurier'' was founded as ''Wiener Kurier'' by the United States Forces in Austria (USFA) ...
by Signa Holding.

In March 2019, Benko's Signa Holding, together with
RFR Holding, acquired the
Chrysler Building
The Chrysler Building is a , Art Deco skyscraper in the East Midtown neighborhood of Manhattan, New York City, United States. Located at the intersection of 42nd Street and Lexington Avenue, it is the tallest brick building in the world wit ...
in New York City for an estimated amount of $150 million. This is René Benko's first major investment in the United States. A month later, the Technical Commission of the
South Tyrol regional government approved the sale of
Bolzano Airport to a company owned by Benko, Bolzano entrepreneur Josef Gostner and
Strabag founder
Hans Peter Haselsteiner.
In mid-2019, Benko's Signa Holding acquired the remaining shares in Galeria Kaufhof. These were held by Canadian retailer
Hudson's Bay Company
The Hudson's Bay Company (HBC), originally the Governor and Company of Adventurers of England Trading Into Hudson’s Bay, is a Canadian holding company of department stores, and the oldest corporation in North America. It was the owner of the ...
, who thus withdrew from the European market. French investment holding company Société Foncière, Financière et de Participations, which manages the
Peugeot
Peugeot (, , ) is a French automobile brand owned by Stellantis.
The family business that preceded the current Peugeot companies was established in 1810, making it the oldest car company in the world. On 20 November 1858, Émile Peugeot applie ...
family's holdings, acquired a 5% stake in Signa Prime Selection for €186 million. The
Hotel Bauer Palazzo on the
Grand Canal in
Venice
Venice ( ; ; , formerly ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 islands that are separated by expanses of open water and by canals; portions of the city are li ...
was acquired in 2020 by Benko's Signa Group, which is thus expanding its hotel portfolio.
In 2021, Signa acquired the British luxury department stores of
Selfridges
Selfridges, also known as Selfridges & Co., is a chain of upmarket department stores in the United Kingdom that is operated by Selfridges Retail Limited. It was founded by Harry Gordon Selfridge in 1908. The historic Daniel Burnham-designed Self ...
in a joint venture with
Central Group. This will extend their already existing shared portfolio of luxury department stores across European countries. Moreover, Signa Sports United completed its business combination with Yucaipa Acquisition Corporation and started trading on the
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
on 15 December 2021.
In 2023, Signa sold 49.9 percent of the
KaDeWe
The , abbreviated to KaDeWe, is a Thai owned department store in Berlin, Germany. With over of retail space and more than 380,000 articles available, it is the second-largest department store in Europe after Harrods in London. It attracts 40,000 ...
to the Central group.
The Central Group bought the KaDeWe building on April 12, 2024 from the insolvent Signa, for €1 billion, and announced they were in talks to acquire Signa's interest in the KaDeWe Group. Central officially purchased 100% of the KaDeWe Group (KaDeWe, Alsterhaus and Oberpollinger) later in the year.
Signa bankruptcies administration
In November 2023 Signa Holding's shareholders and lenders confirmed that Benko is to step down. Signa Prime Selection GMBH is in receivership following a insurmountable liquidity crisis due to a 10.3 Billion Euro extraordinary debt charge and impossibility to honor loans and debt as of November 2023. Most assets belonging to Signa have subsequently been sold or entered receivership including Signa Sport United in the US or Kaufhof in Germany / Austria. The flagship
Elbtower in Hamburg is being auctioned to the lending banks. Benko is now under investigation in Austria, Germany and Italy for fraudulent bankruptcy and money laundering.
In February 2024, ''
The Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...
'' stated that "Appraisers valued the company’s office properties at 41 times the income they produced in 2021, corporate filings show. Comparable publicly traded office companies’ property portfolios were valued around 20 to 25 times income, according to Green Street, a real-estate advisory firm."
Construction has been halted on the 800-foot high Elbtower in Hamburg. Signa's branding still appears on the site's fence although it is now heavily decorated in graffiti.
Awards
* 2011: ''Tyrolean of the Year'' by the Regional Governor
Günther Platter
* 2012 and 2018: ''Man of the Year'' by the Austrian Business Magazine ''
Trend
A fad, trend, or craze is any form of collective behavior that develops within a culture, a generation, or social group in which a group of people enthusiastically follow an impulse for a short time period.
Fads are objects or behaviors th ...
''
* 2018: ''Strategist of the Year'' by the German Business Magazine ''
Handelsblatt
The ''Handelsblatt'' (literally "commerce paper" in English) is a German-language business newspaper published in Düsseldorf by Handelsblatt Media Group, formerly known as Verlagsgruppe Handelsblatt.
History and profile
''Handelsblatt'' was es ...
'';
Roland Berger
Roland Berger (born 22 November 1937) is a German entrepreneur, consultant and philanthropist.
Life
Roland Berger was born in Berlin in 1937 as Robert Altmann; his family name changed later, after his father, Georg L. Berger, married his moth ...
wrote the contribution.
* 2018: ''Man of the Year'' by ''Across'', a European business magazine for the retail and real estate industries
*2019: ''Pentola d’Oro International'' by ''Il Quotidiano Immobiliare'', a professional industry journal
References
External links
Profile at SIGNA Holdingcompany website
{{DEFAULTSORT:Benko, Rene
1977 births
Austrian businesspeople in real estate
Living people
Businesspeople from Innsbruck
Austrian investors
Austrian billionaires
Former billionaires
René Benko
Controversies in Austria
Austrian criminals