He was responsible for creating the first major film studio Sascha-Film in Vienna.
Kolowrat-Krakowsky discovered many actors, e.g. Marlene Dietrich and Willi Forst, who both performed in the 1927 silent film Café Elektric directed by Gustav Ucicky.
The count owned a large city palace on Wenceslas Square in Prague.
He studied at the Catholic University of Leuven (present-day Katholieke Universiteit Leuven) in Belgium where he became a member of the German Catholic fraternity Katholische Academische Verbindung Lovania Leuven.
He served in the army and was able to speak many European languages.