New Company: Former Chancellor Kurz Expands into Real Estate Business

The former Chancellor and ÖVP party chairman Sebastian Kurz has expanded his entrepreneurial activities and founded a real estate company, SK Liegenschaftsbeteiligungs GmbH, reports "Spiegel" in a preliminary announcement. According to the commercial register ("Wirtschafts-Compass"), the company was founded on February 28 of this year and is owned by SK Beteiligungs GmbH, which belongs to Kurz. The managing director of both companies is the former Chancellor.

The business purpose of the real estate company with a share capital of 10,000 euros is, according to the founding document, the "purchase and sale as well as the holding and management of properties and assets".

Ex-Chancellor as an Active Entrepreneur

With this company founding, the ex-Chancellor, who has already advised Signa founder René Benko, is entering new entrepreneurial territory in the real estate sector. After leaving politics, he worked, among other things, for the investment firm of tech billionaire Peter Thiel. Furthermore, the 38-year-old founded an investment and consulting firm. In addition to SK Liegenschaftsbeteiligungs GmbH, Kurz owns SK Beteiligungs GmbH as well as SK Management GmbH - and has further business interests.

Among the business interests is also the Israeli cybersecurity start-up Dream, which is now valued at 1.1 billion dollars (1 billion euros). The former politician is "Co-Founder & President" there and holds 15 percent of the shares. Co-founder and CEO is the Israeli Shalev Hulio, who was involved in the development of the spyware program Pegasus. This was used to monitor government opponents, lawyers, and journalists.

Kurz Must Appear in Court Again

In addition to his entrepreneurial activities, Kurz currently has to deal with legal issues: He was non-finally sentenced to eight months probation for perjury before the parliamentary Ibiza investigation committee. The appeal hearing is scheduled for the end of May. Additionally, the Economic and Corruption Prosecutor's Office (WKStA) is investigating the so-called ÖVP advertisement affair against Kurz, his closest circle, and the media group Austria for breach of trust, bribery, and corruption. Kurz denies these allegations.

(APA/Red)

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