Michał Sołowow is a Polish businessman and rally driver. He was the European vice-champion, the vice-champion of Poland, the European second vice-champion, and second vice-champion of Poland. His wealth is estimated at the over 6 bn złoty ; he is one of the biggest Polish stock exchange investors. He is an important shareholder of the following companies: Synthos, Cersanit, Echo Investment, and Barlinek. In 2007, Forbes estimated his net worth at 2.3 billion US dollars.
Business empire
Sołowow studied at Kielce University of Technology. In 1980s he earned money working in the West, so he was able to create Mitex construction enterprise in late 1980s in Kielce, when freedom of business was announced in still communist Polish People's Republic. After political and economical transformation in early 1990s, Mitex became one of bigger companies on regional construction market. Sołowow then became an active Warsaw Stock Exchange investor. Sołowow bought shares in the chemical companyDwory and funded its expansion with debt, taking advantage of low interest rates at the time. He then diversified into ceramic tiles, wood floors and real estate. He gave up any management roles but is still an active investor on Warsaw Stock Exchange and lives in Masłów, a village on the borders of Kielce, Swietokrzyskie voivodship. He is an important shareholder of the following companies:
Synthos S.A.. One of the largest Polish chemical companies. It manufactures synthetic rubber and latex, styrene materials and vinyl dispersions.
Cersanit S.A. –. One of the largest and most dynamically growing companies in Poland and a nationwide leader in complex bathroom equipment, intensely expanding its range of export operations.
Echo Investment. The company conducts building projects for flats, offices, shopping centres, hotels, entertainment and also property management. Sołowow sold his shares in 2015.
Barlinek S.A.. One of the largest manufacturers of natural wooden flooring systems in the world, and the most recognizable brand of natural floors in Poland. Barlinek floorboards are exported to more than 30 countries on 3 continents. The company holds about a 65% share of the market in Polish flooring.
Ultra Pack S.A. – Polish leader in production of corrugated board packagings.
North Fish Polska Sp. z o.o. – a chain of restaurants offering fish and seafood.
He pulled out of launching a newspaper because of intense competition. He also merged Cersanit with Opoczno, the second-largest company in the ceramics sector. His companies invest in and acquire companies in several countries of the CEE region, including Russia, the Czech Republic, Hungary, Lithuania, Ukraine and Romania. Sołowow's funds, which invest in the futures market, currency market, and materials markets, manage the capital from stock exchange transactions. The funds are:
Magellan Pro-Equity Fund I S.A.
Columbus Pro-Equity Fund II Sp. z o.o.
Amundsen Pro-Equity Fund III Sp. z o.o.
Barco Pro-Equity Fund Sp. z o.o.
Rally career
Sołowow was interested in amateur rally driving as a teenager. In 2001, thanks to sponsorship of his companies Synthos and Cersanit, he started professional rally career, aside from his business activities. After several years of training and starts, he began to obtain good results. He was the European vice-champion, the vice-champion of Poland, the European second vice-champion, and second vice-champion of Poland. He finished his career in 2015.
