He is a mysterious man with a lot of money.
Danko Končar has recently taken over the two of the most important Croatian shipyards, Uljanik in Pula and Treći Maj in Rijeka. He is also the owner of Brodotrogir, another major shipyard located in Dalmatia. The media has rightly named him “the king of Croatian shipbuilding,” and he is one of the most mysterious businesspeople in Croatia, reports Večernji List on April 1, 2018.
He was born in Zagreb in 1942. His father was a professor at the Faculty of Agriculture, while his mother was a teacher. In 1966, he received a degree in electrical engineering. He worked briefly as an assistant at the university and then launched a private business with copying architectural plans.
In 1971, Končar was employed in the commercial department of the Jugoturbina factory in Karlovac, where he advanced quickly. He soon became manager of the Business Engineering department. It was at this point that his life made a turn for the worse and he went to serve a lengthy prison sentence. In later interviews, Končar explained that he was a victim of political conflicts, but he was indicted and spent seven or eight years in jail.
Upon leaving prison in 1984, he was employed by the Tehničar company in Zagreb. Just one year later, the company sent him abroad for training, which was quite a surprising decision given his past. As is the case with many of today’s businessmen who have returned to Croatia from abroad, it is not possible to determine exactly how he earned his money. It is believed that he made his first million dealing with Japanese electronics and that he worked in Russia. Rumours say that he bought his first chrome mine in Russia, and later he became the owner or co-owner of chrome, zinc and platinum mines in South Africa, Burundi, Zimbabwe and other countries.
His business return to Croatia occurred after 2000. At first, he was seen as a mysterious man with a substantial capital. He immediately set up dozens of companies in Croatia and focused on buying real estate. The properties were primarily located on the coast, and in Istria, he bought a whole range of plots and old houses. His business associate at the time was Vinka Cetinski, a former deputy tourism minister. A scandal broke when Končar accused Cetinski and her family of stealing his money, which resulted in a brief period in which Končar’s name was mentioned in the media much more frequently.
A few years later, Končar was in the news once again after the state decided to privatise the shipbuilding industry and Končar bought the Brodotrogir shipyard. He won the bid, although he was open about the fact that his primary goal was to develop a marina at the shipyard, and that shipbuilding operations would be saved “if possible.”
And now, five years after taking over Brodotrogir, Danko Končar has appeared from the shadows of anonymity again, amid the crisis with Uljanik, seeing his chance to buy another troubled company. He is apparently a very persuasive man, helped by estimates that his personal fortune is worth about two billion euro.
The fact is that Končar has bought a lot of assets in Croatia and has always been presented as a significant investor. But, it is also true that many of his plans have not been realised so far. His opponents describe him as a person who does not create enough new jobs, especially not when compared with the amounts of money which he has invested in various companies.
Therefore, many are sceptical and wonder whether Končar is indeed the “king” of the Croatian shipbuilding industry, or perhaps its “gravedigger.” Whatever the answer is, there is little doubt that Končar is a trader – and a good one.
Translated from Večernji List (reported by Davor Ivanković).
