Richard Morávek, founder of Redstone Group, dies at 56

Richard Morávek, the prominent Czech billionaire investor and founder of the Redstone Group, has died at the age of 56. His death was announced by his wife, Helena, following a prolonged medical struggle.

Morávek had been hospitalized in Olomouc after sustaining a severe head injury during a vacation in Marbella, Spain, in late July. Despite an initial period of improvement and undergoing surgery, his condition took a sudden turn for the worse earlier this week.

A major figure in the development of the Olomouc region, Morávek was responsible for numerous significant projects, including the Galerie Šantovka shopping center, the Šantovka Living residential area, and the Envelopa Office Center. His business interests extended across the Czech Republic—including Prague, Brno, and Ostrava—as well as internationally, with investments in French vineyards and hotel developments in Croatia.

The Redstone Group has issued a statement confirming that the company will continue to operate as usual under its experienced management team to ensure stability for investors and partners.