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Dragan Šolak (businessman)

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Dragan Šolak
Born
Dragan Šolak

1964 (age 59–60)
Kragujevac, SR Serbia, Yugoslavia
NationalitySerbian Maltese
OccupationBusinessman
Known forUnited Group, Sport Republic

Dragan Šolak (born 1964) is a Serbian businessman and media mogul. He is the founder and majority owner of the United Group media house. Šolak founded United Group back in 2000. His net worth was estimated at €1.22 billion, and as of 2021 was understood to be the richest man in Serbia.[1]

Early life and education

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Šolak was born in 1964 in Kragujevac. He later moved to Belgrade for university but left to focus on business opportunities. In 1990, Šolak started a production business, one of the first in Yugoslavia. Following the 1992 Bosnian war, Šolak spent a decade abroad working in intellectual property and copyright. In 2000, he started a local cable television network in his home town that later grew with international funding. In 2014, that network became United Group.[2][3]

Career

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United Group

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Initially starting as just a small cable operator in central Serbia, the company has since become one of the most dominant media companies in Southeast Europe, providing broadband, mobile and TV services in eight countries.[1] Solak served as chief executive for United Group for eight years. He became chairman in 2008, and he remains an advisor to the board as of 2022. He retains a 33% share in United Group.[2][3][4]

Sport Republic

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Šolak is the lead investor and chairman of investment firm Sport Republic.[5][6][7] In January 2022, Sport Republic became the owners of English club Southampton which bought 80% of the shares in the club from Chinese businessman Gao Jisheng for about £100m.[2][3] Following Southampton's relegation from the Premier League after Sport Republic's first full season in charge, Šolak admitted that the club's owners were too distant to have a full understanding of what was happening and pledged that they would be more involved in future.[8] In September 2022, Šolak invested £48 million into the firm and in 2023, he contributed an additional £15 million. The money was intended for general operations and also to highlight Šolak's commitment to the club.[9]

The investment firm also acquired a 70% controlling stake in Turkish club Göztepe in August 2022 and became majority shareholders of French club Valenciennes in July 2023.[10][11]

N1 expose pre-election political maneuvering

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On 13 May 2023, the Slovenian information portal N1info, owned by United Media, reported extensive and irregular investigations conducted by the Slovenian Office for Money Laundering Prevention in December 2021. The investigations occurred amidst a politically charged atmosphere in Slovenia as the elections approached. Evidence obtained suggested that the head of the office, Damjan Žugelj, appointed by the SDS party, facing time constraints, received an anonymous tip enabling him to initiate the investigation, presumably in the context of a pre-election agreement between Serbian President Aleksandar Vučić and former Slovenian Prime Minister Janez Janša to gather potentially damaging information on their opponents through the respective anti-money laundering offices.[12][13] Janša has denied the allegations of an agreement with Vučić, while Žugelj has characterised the N1info portal's publications as political revenge.[14]

On 13 October 2023 National Bureau of Investigation arrested Damjan Žugelj, former director of the Office for Money Laundering Prevention, and his closest associates on suspicion of abuse of office. NBI said that they are being prosecuted for unlawfully looking into 224 bank accounts, allegedly also including Dragan Šolak.[15][16]

References

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  1. ^ a b Tanner, Jack (5 January 2022). "Who is Dragan Solak? Details on the investor behind Saints' new owners". Southern Daily Echo. Retrieved 1 February 2022.
  2. ^ a b c Walker, Shaun (27 January 2022). "Dragan's den: meeting Southampton's new billionaire owner". The Guardian. Retrieved 6 November 2023.
  3. ^ a b c "Southampton takeover: Dragan Solak-backed company buys Premier League club". BBC Sport. 4 January 2022. Retrieved 6 November 2023.
  4. ^ Wallace, Sam (4 January 2022). "Southampton's £100m takeover by Serbian investment group completed". The Telegraph. Archived from the original on 12 February 2023. Retrieved 10 April 2024.
  5. ^ "About Us". Sport Republic. Retrieved 6 November 2023.
  6. ^ Hannifin-Donaldson, Simmey (11 September 2023). "Southampton's majority owner Sport Republic: Net Worth, Business Interests, Saints plans and more". Football League World. Retrieved 6 November 2023.
  7. ^ "Sport Republic acquires ownership of club". Southampton FC. 4 January 2022. Retrieved 6 November 2023.
  8. ^ Rampling, Ali (31 May 2023). "Southampton owners admit they were not involved enough during club's relegation". The Athletic. Retrieved 6 November 2023.
  9. ^ Slater, Matt; Tanswell, Jacob (14 April 2023). "Southampton owner injects further investment into club". The Athletic. Retrieved 10 April 2024.
  10. ^ "Southampton owners acquire 70 per cent stake in Turkish club Goztepe S.K". The Athletic. 19 August 2023. Retrieved 6 November 2023.
  11. ^ de Souza, Bradley (25 July 2023). "Football: Valenciennes est racheté par le fonds d'investissement Sport Republic". France Bleu (in French). Retrieved 6 November 2023.
  12. ^ Šeruga, Katja (13 May 2023). "Brskanje po bančnih računih, kakršnega ne pomnimo: od šefa N1 do šefa Pop TV" [Bank Account Digging Like no Other: From the Boss of N1 to the Boss of Pop TV]. N1info (in Slovenian).
  13. ^ "Odziv Dragana Šolaka po razkritju dokazov o verjetni zlorabi in zavrženi ovadbi" [Dragan Šolak's Reaction After the Disclosure of Evidence of Alleged Abuse and the Dismissal of the Indictment] (in Slovenian).
  14. ^ "Žugelj: Gre za maščevanje tistih, ki so ugrabili policijo in tožilstvo" [Žugelj: It's About Revenge of Those Who Hijacked the Police and the Prosecutor's Office]. Nova24TV (in Slovenian). 13 May 2023.
  15. ^ "Former anti-money laundering czar faces abuse of office charges". The Slovenia Times. 2023-10-13. Retrieved 2024-03-26.
  16. ^ 20. https://necenzurirano.si/clanek/novice/damjan-zugelj-afera-watergate-uppd-tozilstvo-sodisce-1383863
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Attacks regarding media freedom in Serbia

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Under Šolak’s leadership, United Media founded the first specialized multi-country news service N1,[1] an exclusive affiliate of CNN[2] for Serbia, Croatia, Bosnia and Hercegovina, Montenegro and Slovenia, that started broadcasting in 2014. N1 headquarters are located in Luxembourg, with production centers for TV programs and news portals in Zagreb, Belgrade, and Sarajevo [3] The broadcaster is part of United Media, which oversees the media arm of United Group.

Due to his media ventures in Serbia, Dragan Šolak is the subject of attacks from government-aligned media and is facing personal criticism and labeling from Serbian President Aleksandar Vučić[4][5] During a press conference addressing protests against the construction of a lithium mine in Serbia,[6] President Aleksandar Vučić accused him of involvement in a plot to assassinate him apparently led by Šolak personally. International press organizations, such as the EJF[7] and the Independent Journalists' Association of Serbia NUNS,[8] classified this as an unfounded attempt to intimidate media professionals.[9][10][11] Šolak has repeatedly expressed concerns about the state of media freedom[12] and rule of law in Serbia, criticized measures aimed at restricting it and defended his stance on the independent reporting by the United Media’s companies.[13][14]

The personal criticism of Šolak and the regulatory actions targeting the media network primarily focus on the work of United Media outlets like N1, one of the few media channels in Serbia that offers airtime to the opposition and provides critical reporting on the government.[15][16] A 2022 study by Serbia's Bureau for Social Research, BIRODI, found that over a three-month period beginning in September, President Vučić received over 44 hours of media coverage, with 87 percent of it positive, while the main opposition party received three hours, 83 percent of which was negative. Most of the critical coverage of President Vučić appeared on N1.[15]

In January 2024, the entire editorial staff of the independent magazine NIN resigned following a change in ownership and, together with United Media, founded the magazine Radar. The editorial team explained this decision by stating that the new owner intended to steer the magazine in a pro-government direction [17] In a collective statement, they explained that they wanted to keep their professional integrity: “The new owner of NIN d.o.o. Jelena Drakulic Petrovic announced a change in the conception of the weekly NIN, but she did not assure us that we will be able to continue doing our work as before – uncompromisingly and guided exclusively by the imperatives of professional journalism.”[17] According to organizations such as Reporters Without Borders,[18] the International Press Institute,[19] and the International Federation of Journalists,[20] actions of the Serbian government are a major factor in the erosion of media freedom in Serbia.[21][22][23] They criticize the documented attacks on the newsrooms of independent media over the years, which have intimidated journalists, hindered their work, and claimed them to be tolerated by the state.[21][22][23]

These events have been also the subject of resolutions by the European Parliament,[24] in which the EU condemned 'the limitations on the freedom and independence of the media and the misuse of the media by the governing majority to gain an unfair political advantage, attack political opponents, and spread disinformation’ and criticized the lack media pluralism in the country.[25][26] Furthermore, according to the MFRR,[27] the Serbian government continuously amended laws and increased state control over the media.[16] The 2023 Nations in Transit report from Freedom House[28] classified Serbia as a “transitional or hybrid regime,[29]” highlighting escalating government pressure on independent media and increased state control over media through Telekom Srbija.[30] Independent media are active but limited by government support for pro-government outlets, which tilts the media landscape. Dependence on government advertising revenue further strengthens political incumbents, who can use this reliance for political advantage. This situation restricts opposition leaders’ media and financial access, making it challenging for them to connect with voters.[31]

Philanthropic Activities

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Under Šolak‘s direction, United Group is supporting communities across the region with programmes in education, the environment, arts and culture, disaster relief and prevention. Together with his family, Šolak has created the program Prof. Njegoš B. Šolak Scholarship [32] in honor of his late father. Primarily funded by the Šolak family, the program’s aim is to encourage and support exceptional young talents in science[33] & art on their way to academic and professional success.[34][35][36] Through United Group’s two Foundations in Serbia[37] and in Bosnia and Herzegovina,[38] as well as United Media, Šolak’s philanthropic initiatives focus on: education, environmental stewardship, and community relief. Long-term initiatives are developed to empower societies: “Prof. Njegoš B. Šolak Scholarship[36]” “Job Lab”,[39] “The Core”,[40] “Don’t litter. No excuses!”,[41] “Regional Grant”, and “Smart forests”.[42] Job Lab offers free training for high school students to develop essential soft skills for the modern world. The Core helps functional families at the verge of existence. Regional Grant[40][43] supports grassroots initiatives that drive local community development. Environmental initiatives promote environmental responsibility through education, advocacy campaigns and ecological preservation using modern technologies and reforestation.[44][45][46] Through United Group Šolak also invests in initiatives that offer immediate assistance and resources to communities affected by natural disasters or unforeseen challenges.[47][48][49]

A passion for Golf

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The Šolak family acquired and fully renovated the historic Royal Bled golf course in Slovenia. The golf course is ranked as one of the 50 most beautiful golf courses[50] in continental Europe.[51] Šolak has been involved in the development of the sport in the Balkan region and serves as Chairman of the Board of the international golf group, Eligo.[52]

  1. ^ https://en.wikipedia.org/wiki/N1_(TV_channel)
  2. ^ https://en.wikipedia.org/wiki/CNN
  3. ^ https://www.derstandard.at/story/2000127383471/cnn-partnersender-n1-startet-auch-in-slowenien
  4. ^ https://en.wikipedia.org/wiki/Aleksandar_Vu%C4%8Di%C4%87
  5. ^ https://www.nytimes.com/athletic/3082121/2022/01/22/serbian-media-tycoon-angel-investor-super-tough-negotiator-southampton-new-owners/
  6. ^ https://en.wikipedia.org/wiki/2024_Serbian_environmental_protests
  7. ^ https://en.wikipedia.org/wiki/European_Federation_of_Journalists
  8. ^ https://en.wikipedia.org/w/index.php?title=Independent_Journalists%27_Association_of_Serbia&action=edit&redlink=1
  9. ^ https://n1info.rs/english/news/efj-president-to-n1-accusations-by-officials-are-dangerous/
  10. ^ https://www.sr.de/sr/srkultur/radio/sendungen_a-z/uebersicht/kontinent/20241112_kontinent_eu-lithium-versorger_der_zukunft_100.html
  11. ^ https://safejournalists.net/alert/safejournalists-and-efj-we-urge-serbian-president-aleksandar-vucic-to-refrain-from-attacking-journalists/
  12. ^ https://en.wikipedia.org/wiki/Media_freedom_in_Serbia
  13. ^ https://www.msnbc.com/katy-tur/watch/serbian-magnate-talks-censorship-says-population-is-living-in-the-matrix-131412549625
  14. ^ https://www.theguardian.com/football/2022/jan/27/dragan-solak-southamptons-new-owner-serbia
  15. ^ a b https://www.nytimes.com/2022/01/17/world/europe/serbia-media-censorship.html
  16. ^ a b https://www.euractiv.com/section/media/opinion/pressure-builds-on-serbia-over-controversial-new-media-laws/
  17. ^ a b https://balkaninsight.com/2024/01/10/entire-editorial-staff-of-prestigious-serbian-magazine-nin-quit/
  18. ^ https://en.wikipedia.org/wiki/Reporters_Without_Borders
  19. ^ https://en.wikipedia.org/wiki/International_Press_Institute
  20. ^ https://en.wikipedia.org/wiki/International_Federation_of_Journalists
  21. ^ a b https://rsf.org/en/independent-serbian-tv-channel-subjected-smear-campaigns-intimidation
  22. ^ a b https://ipi.media/serbia-fresh-attacks-and-smears-on-media-raise-threat-level/
  23. ^ a b https://www.ifj.org/media-centre/news/detail/article/serbia-support-for-n1-journalists-facing-increasing-threats-and-intimidation
  24. ^ https://en.wikipedia.org/wiki/European_Parliament
  25. ^ https://www.europarl.europa.eu/doceo/document/TA-9-2022-0284_EN.pdf
  26. ^ https://www.europarl.europa.eu/doceo/document/TA-9-2024-0075_EN.pdf
  27. ^ https://en.wikipedia.org/wiki/European_Centre_for_Press_and_Media_Freedom
  28. ^ https://en.wikipedia.org/wiki/Freedom_House
  29. ^ https://en.wikipedia.org/wiki/Hybrid_regime
  30. ^ https://en.wikipedia.org/wiki/Telekom_Srbija
  31. ^ https://www.state.gov/wp-content/uploads/2024/02/528267_SERBIA-2023-HUMAN-RIGHTS-REPORT.pdf
  32. ^ https://nova.rs/emisije/jovana-lukic-i-luka-simic-sbb-fondacija-stipendira-najdarovitiju-decu/
  33. ^ https://www.vesti.bg/lyubopitno/vivacom-podkrepia-pyrvata-mezhdunarodna-olimpiada-po-ai-v-bylgariia-6205256
  34. ^ https://novaekonomija.rs/vesti-iz-zemlje/poziv-za-nadarene-ucenike-da-se-prijave-za-program-stipendija-prof-njegos-b-solak#google_vignette
  35. ^ https://www.blic.rs/vesti/drustvo/nova-generacija-stipendista-sbb-fondacije-izuzetni-mladi-umovi-spremni-da-osvoje-svet/dg03r3l
  36. ^ a b https://n1info.rs/vesti/stipendija-prof-njegos-b-solak-sbb-fondacije-u-potrazi-za-mladim-biserima/
  37. ^ https://sbbfondacija.rs/
  38. ^ https://www.akta.ba/pauza/zivot-i-zdravlje/184771/job-lab-telemach-fondacije-otvoren-za-srednjoskolce-ilijasa-sirokog-brijega-i-zv
  39. ^ https://www.klix.ba/biznis/zavrsena-job-lab-studijska-posjeta-telemach-fondacije-edukacija-inspiracija-i-podrska-za-mlade/240628093
  40. ^ a b https://www.investor.bg/a/519-ekologiya/391744-vivacom-regionalen-grant-podkrepya-10-proekta-sas-100-hil-lv
  41. ^ https://nova.rs/vesti/drustvo/sbb-fondacija-zasadila-1-200-kosarastih-vrba-u-selu-rocevici/
  42. ^ https://www.protothema.gr/advertorial/article/1518745/h-nova-anaptussei-to-ergo-exupno-dasos-rodos/
  43. ^ https://webcafe.bg/ad-blok/startira-iztsyalo-obnovenoto-9-o-izdanie-na-vivacom-regionalen-grant.html
  44. ^ https://www.protothema.gr/advertorial/article/1569884/i-nova-xekinise-tin-anadasosi-tis-ieras-monis-pedelis/
  45. ^ https://www.skai.gr/news/finance/i-nova-ksekinise-tin-anadasosi-tis-ieras-monis-pentelis
  46. ^ https://www.iefimerida.gr/media/h-nova-anaptyssei-ergo-exypno-dasos-rodos
  47. ^ https://n1info.rs/vesti/a598205-united-grupa-ispunjeno-obecanje-gradjanima-srbiji-isporucena-donacija-od-milion-dolara/
  48. ^ https://dnevnik.hr/vijesti/hrvatska/18-po-redu-koncert-zelim-zivot-u-organizaciji-zaklade-ana-rukavina---814441.html
  49. ^ https://www.newsit.gr/ellada/i-Nova-ylopoiei-erga-apokatastasis-se-dadia-kai-rodo-meta-tis-fysikes-katastrofes-tou-2023/3991272/
  50. ^ https://vsebovredu.triglav.si/na-poti/najboljsa-golf-igrisca-v-evropi
  51. ^ https://www.delo.si/polet/kraljevo-igrisce-ima-80-let
  52. ^ https://arhiv.gorenjskiglas.si/article/20140505/C/140509948/privabiti-zelijo-uveljavljene-golfiste
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