Polish magnate Jan Kulczyk dies aged 65

Polish tycoon, noted investor and the wealthiest Pole, Jan Kulczyk, has passed away from complications following an operation, the Polish Press Agency reported quoting a statement emailed by Kulczyk Investments press officer. He was 65. Kulczyk was the founder and owner of Kulczyk Holding and international investment house Kulczyk Investments with headquarters in Luxembourg and offices in London, Kiev and Dubai. In 2013, he was ranked 384 on The World’s Billionaire list by Forbes. His net wealth was estimated at $4.1 bln (as of February 2015). In 1981, Kulczyk established Interkulpol, one of the first companies with foreign capital in Poland. In the 1990s he entered the automotive sector, becoming the only official wholesaler of Volkswagen and Audi in Poland. Jan Kulczyk was a central figure in the Polish privatization process, buying up state assets, turning them around and selling to foreign entrants. He was involved in privatization of the telecom operator Telekomunikacja Polska (now Orange Polska), taking an over 10% stake in the initial deal. Kulczyk's assets included chemicals group Ciech, energy companies Polenergia and Serinus Energy and a number of worldwide oil and gas businesses