René Benko, officially penniless and bankrupt, still leads an expensive lifestyle. In addition to the hunting trips that reportedly have serious consequences for his celebrity guests, Benko also still lives in a luxurious property in Innsbruck-Igls. But Mama Benko now has to pay the rent on the fancy house.
No less than 238,500 euros per month must be paid in rent for Benko’s villa. Not unusual for such an object. But how can the supposedly penniless real estate juggler afford the luxury life? In the case of his posh house, his mother, Ingeborg Benko, pays the rent.
Officially owned by the foundation
The property is officially owned by a company that is part of Benko’s Laura Private Foundation, which in turn leased it to Signa Holding, which went bankrupt at the end of November 2023. To build the villa, Benko had the former castle hotel demolished and the new building built at a cost of approximately 60 million euros.
However, the property was never owned by Benko himself, but by Schlosshotel Igls Betriebs GmbH & Co KG, a company of the Laura Private Foundation, named after his daughter. The foundation was founded by Benko and his mother and the beneficiaries are his mother, his wife and his children. This also explains why Mama Benko pays Junior’s rent.
Rental agreement with Mama Benko
The operator entered into a retroactive rental agreement for the Benko villa with Benko’s mother in September. The monthly net main interest was set at 238,500 euros. This also includes the rent of the movable inventory amounting to 57,000 euros. Although the rental agreement excludes subletting or transfer of the villa, passing it on to beneficiaries of the Laura Private Foundation or their close relatives is permitted, the ‘Standard’ reported on Thursday.
Signa Holding has been paying a similar price since 2021. And the rental price is in any case ‘at arm’s length’ if it amounts to 3 to 5 percent of the invested capital. Corresponding decisions of the administrative court would prove this, it was said.
In any case, the foundation will not lose any money as a result of the lease agreement. Ultimately, part of the benefits paid to Benko’s mother will flow back to the foundation. Actually a perpetual motion machine when it comes to rent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
