Ignatz Petschek travelled from Prague and started his own coal company in the border town of Usti nad Labem. The town is located about 65 km from Dresden by road and the area was incorporated into the Third Reich in 1938. The border area between Germany and Czechoslovakia was called Sudetenland and many Germans lived on Czechoslovakian land who nevertheless spoke German and regarded themselves as Germans. When Hitler came to power, they wanted to become part of the Third Reich.
After Ignatz Petschek died in 1934, it was his two sons Vilem and Frantisek who continued their company activities.
What do you think happened to the Petschek family’s large properties and companies when the area of Czechoslovakia where they lived was incorporated in the Third Reich?
The Petschek family settled in the United States and have since become a large family that still engages in business.
The Petschek family’s large villa in Prague was seized by the Nazis during the Second World War, then by the Soviet Army in 1945 and thereafter leased to the American presence in Czechoslovakia in 1945. The Petschek family’s remaining assets in Czechoslovakia were seized by the authorities during the Communist era.
Today, the Petschek villa belongs to the US embassy in the Czech Republic.