PRAGUE, January 23. /TASS/. Michal Strnad, the majority owner and chairman of Czechoslovak Group (CSG), a key supplier of ammunition and armored vehicles to Ukraine, has become the richest entrepreneur in the industry, Bloomberg reported.

According to the agency, Strnad's net worth has increased to $37 billion, representing approximately 10% of the entire Czech economy. This occurred after the company and its owner raised 3.3 billion euros through an IPO.

Strnad is the third-richest person in the world under 40, according to the Bloomberg Billionaires Index.