Follow the Money: The Podcast A billionaire’s hidden empire built on coal and post cards
9 snips
Sep 3, 2025 Investigative journalist Hazel Sheffield uncovers the hidden empire of Daniel Křetínský, a Czech billionaire with significant influence in Europe. Křetínský's wealth originates from coal, despite receiving EU green subsidies. The discussion dives into his vast interests—media, supermarkets, and energy—and examines the controversial role of biomass in his operations. Sheffield also highlights how Křetínský's concentrated ownership poses risks to political integrity, media influence, and public health around his coal and biomass plants.
AI Snips
Chapters
Transcript
Episode notes
Empire Built On Fossil Fuels
- Daniel Křetínský built his wealth primarily through fossil fuels and large energy acquisitions starting with Slovakia's gas utility in 2013.
- His portfolio now spans coal and gas assets across Europe, making him a major blocker of rapid decarbonisation.
Biomass Can Be Carbon-Intensive
- Large-scale wood biomass often emits more CO2 than coal and relies on disputed feedstocks masquerading as 'waste'.
- Investigations found EPH plants sourcing virgin wood and material from protected areas, undermining biomass's green label.
Local Health Harms From Plants
- Communities near some EPH biomass plants face pollutant levels far above legal limits, including PM10 and PM2.5.
- Exceeding already-high legal limits signals severe local health and environmental impacts.