Ukrainian billionaire Rinat Akhmetov has seen a significant decline in his net worth in recent months, according to data from the Forbes Billionaires Index and the Bloomberg Billionaires Index. The president of System Capital Management (SCM) and owner of the Ukrainian football team Shakhtar Donetsk had a net worth of $11.7 billion in January 2022, but is now estimated to be worth $5.4 billion by Bloomberg and $4.3 billion by Forbes.
Akhmetov, the richest billionaire in Ukraine and the 617th richest person in the world, has experienced a $7.24 billion decline in his wealth from $11.5 billion in June to $4.3 billion in December. This follows a $6.3 billion drop in his net worth as reported by NewsOTG in December, with the specific amount of damages still unable to be determined due to ongoing violence in the country.
The decline in Akhmetov’s wealth can be attributed to damage sustained by his largest holding, mining, and steel firm Metinvest Group, whose plants in Mariupol and Avdiivka were attacked by Russia. On February 28, the firm announced a force majeure and by March 31, Akhmetov declared that SCM will sue Russia for invasion-related damages.
Despite this significant loss, Akhmetov remains the richest person in Ukraine, with his wealth falling from $5.46 billion to $5.37 billion in December alone. The 55-year-old ironworks tycoon, son of a coal miner and energy entrepreneur, has been hard hit by the ongoing war in the country.