Akhmetov tops Forbes' ranking of wealthiest Ukrainians

Ukrainian oligarch Rinat Akhmetov keeps topping the list of the wealthiest Ukrainians, displayed in the Forbes annual ranking.

That is according to data published by the Forbes Ukraine magazine on May 6.

Over the year, Akhmetov boosted his fortune to US$7.6 billion in the field of metallurgy.

The top three also included businessman Victor Pinchuk (US$2.5 billion) and Kostyantyn Zhevago (US$2.4 billion). At the same time, Ukraine's fifth President Petro Poroshenko slid from third to seventh spot with a US$1.6 billion fortune.

The top ten also includes Ihor Kolomoisky (US$1.8 billion), Hennadiy Boholiubov (US$1.7 billion), spouses Oleksandr and Halyna Herehas (US$1.7 billion), Vadym Novinsky (US$1.4 billion), Oleksandr Yaroslavsky (US$820 million), and Yuriy Kosiuk (US$780 million).

The ranking was updated by 21% over the year: 14 individuals emerged on the list for the first time (including Viktor Medvedchuk (US$620 million), while seven returned after a break.

The ranking's new faces mostly represent the IT and energy sectors.

The last year's enrichment of said Ukrainians was facilitated by growing quotations of key export goods, namely oil, steel, wheat, and corn.

Read alsoAkhmetov tops Ukraine's richest people rating in 2020, againIn the spring of 2021, the rise in commodity prices accelerated, creating a solid foundation for the enrichment of TOP 100 wealthiest Ukrainians in 2022. However, the effect of a low comparison base also took place for non-resource assets since last year's estimates were formed against the background of uncertainty mixed with panic.

Forbes ranking. Memo

To determine the 100 wealthiest Ukrainians, Forbes estimates the fortune of over 200 millionaires, more than 500 of their businesses, as well as their assets in Ukraine and beyond (shares, real estate, vehicles, art, bank accounts, and cash).

Liquid shares of public companies are estimated at market value as of April 9, 2021.

Private companies are estimated based on financial indicators and information on sales for the last available period by comparison with the value of similar Ukrainian and global companies, as well as companies that have been the target of mergers and acquisitions in recent years.

Family businesses that are jointly managed are estimated as the sum of the parts of all family members. Businesses that are de facto managed exclusively are taken into account in the assessment of their actual owner, even if their shares formally belong to other family members or third parties.

The value of non-public IT companies is calculated based on the assessments of experts and market participants, available data on financial results and capital raising.

Assets that do not generate cash flow are measured at residual value.

The list includes Ukrainian citizens only.