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Success story: René Benko - from school dropout to department store king.
René Benko was considered by many to be a successful entrepreneur: the man without a high school diploma started by converting attics and rose to become Germany's department store king. He was just as great at saying things as he was at wooing investors. Benko made German politicians believe that he could lead the department store into a golden future despite overwhelming online competition and improve their city centers with large construction projects. According to a report by rp-online.de, René Benko was long considered a successful entrepreneur in the real estate market who wanted to improve city centers and revolutionize goods trading through his construction projects. However, its crash and its effects are now more far-reaching than initially assumed. …
Success story: René Benko - from school dropout to department store king.
René Benko was considered by many to be a successful entrepreneur: the man without a high school diploma started by converting attics and rose to become Germany's department store king. He was just as great at saying things as he was at wooing investors. Benko made German politicians believe that he could lead the department store into a golden future despite overwhelming online competition and improve their city centers with large construction projects.
According to a report by rp-online.de,
For a long time, René Benko was considered a successful entrepreneur in the real estate market who wanted to improve city centers and revolutionize goods trading through his construction projects. However, its crash and its effects are now more far-reaching than initially assumed.
Benko's demise not only impacts his own business, but could also affect confidence in the real estate market as a whole. Investors and lenders could now act more cautiously, as the collapse of Benko's company shows that even supposedly successful companies are vulnerable to economic problems.
In addition, political decision-makers could also rethink their attitude towards real estate projects, as the Benko case shows that the promises of real estate entrepreneurs cannot always be kept and government support does not necessarily lead to economic success.
Overall, the collapse of René Benko and his company could have a negative impact on the willingness to invest and confidence in the real estate market, so that cautious action and increased risk assessment are likely to be the result.
Read the source article at rp-online.de