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The fifth president of Ukraine, Petro Poroshenko, was stripped of his billionaire status soon after his election in June 2014.

Read alsoPoroshenko reports additional US$552,079 income

Poroshenko's net worth has declined almost 40% to US$705 million, according to the Bloomberg Billionaires Index, the Ekonomichna Pravda online newspaper reported on May 20, referring to Bloomberg.

His most valuable asset is Ukraine's Roshen Confectionery Corporation. Poroshenko's other assets include a bank, a television channel, an insurance company, and several agriculture and food enterprises, the publication wrote.

Ukraine's richest man, Rinat Akhmetov, owner of the country's largest industrial conglomerate, saw his net worth drop more than 50% to $5.5 billion.