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Ukraine’s president beefs up wealth, gets back status of billionaire

Compared with 2016, Poroshenko increased his wealth by another 7% to $ 1 billion
Ukrainian President Pyotr Poroshenko  EPA/TATYANA ZENKOVICH
Ukrainian President Pyotr Poroshenko

KIEV, October 26. /TASS/. Ukraine’s President Pyotr Poroshenko continues beefing up his private wealth, Novoye Vremya [New Times] magazine said on Thursday.

Compared with 2016, Poroshenko increased his wealth by another 7% to $ 1 billion, Novoye Vremya said.

"The President got back the status of a billionaire - for the first time over a period of four year," the publication said in a commentary to the ranking. "If he manages to keep up this rate, he will outdo his own pre-crisis ranking and will then get close to his own personal record, or $ 1.3 billion, that he showed in 2012."

Confectionery producer Roshen is the key asset of Poroshenko’s business. The president indicated in the declaration for 2016 that he was a benefiting owner of 99 companies, including the International Investment Bank, Leninskaya’s Kuznya [Lenin’s Foundry] plant, Vneshekonomservis marketing firm, Kraina insurance company, Prime Assets Capital investment fund, and some others.

Novoye Vremya placed him to the top position on the list of Top 20 Wealthiest Ukrainians.

On the face of it, businessman Rena Akhmetov keeps up his status of the wealthiest person in Ukraine. The publication assesses his fortune as $ 6.9 billion, saying it grew 68% over the past twelve months.

Viktor Pinchuk, the owner of the Interpipe pipe mill follows next with $ 1.4 billion [up 13%].

The last in the trio of leaders is Konstantin Zhevago, whose wealth remains unchanged from the previous year at $ 1.4 billion.

The aggregate wealth of all the rated businessmen is $ 26.7 billion, or 33% up from 2016.

Rinat Akhmetov owns one-fourth of the total wealth of Ukraine’s 100 richest people. A Ukrainian with an ordinary wage will need 2.1 million years to catch up with him.