Czech billionaire becomes PM with promise to cut ties to business empire
Summary
Billionaire Andrej Babis has been appointed as the new Prime Minister of the Czech Republic. He has promised to cut his business ties to a large company he owns, called Agrofert, by placing it in a trust. This change aims to focus on running the government without any business conflicts.Key Facts
- Andrej Babis, a billionaire, is the new Czech Prime Minister.
- Babis plans to sever business ties with his company, Agrofert.
- Agrofert will be placed in a trust managed independently.
- President Petr Pavel made Babis promise to relinquish control of Agrofert.
- Babis was previously Prime Minister until 2021.
- Some criticize this move, doubting true independence from his business.
- Agrofert is valued at about $4.3 billion.
- Babis's new government includes some far-right party members.
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