You're reading: Novinsky joins Forbes list of Ukrainian billionaires

A co-owner of the Metinvest mining and metallurgical holding, Vadim Novinsky, who swapped his Russian citizenship for Ukrainian, has joined the rating of Ukrainian billionaires published Forbes.

According to the magazine, System Capital Management (SCM) owner Rinat Akhmetov remains the richest Ukrainian, far ahead of his fellow billionaires. His fortune last year shrank from $16 billion to $15.4 billion due to the worsening of the situation on the global steel market, and in the global ranking he dropped to 47th position.

Victor Pinchuk, according to the magazine’s global wealth team, lost $500 million in 2012 and slid to 353rd place.

According to Forbes, the business of PrivatBank owners Ihor Kolomoisky (613th) and Hennadiy Boholiubov (882nd) also deteriorated last year. Kolomoisky’s fortune dropped from $3 billion to $2.4 billion, whereas Kolomoisky’s wealth shrank from $2.8 billion to $1.7 billion.

The receipt of Ukrainian citizenship, according to the authors of the ranking, did not affect Novinsky’s fortune, which remained at $1.9 billion and helped Akhmetov’s junior partner in Metinvest take 792nd position in the list.

The head of Ukraine’s largest agricultural holding, MHP, Yuriy Kosiuk, and former Economy Minister, former Head of the Council of the National Bank of Ukraine and owner of the country’s largest confectionery corporation, Roshen, Petro Poroshenko, with each owning $1.6 billion, share 931st spot. The agricultural market and the food industry became better assets than banks and metallurgy as Kosiuk’s wealth last year was estimated at $1.3 billion and Poroshenko’s at $1 billion.

A majority stockholder in an ore mining company, Kostiantyn Zhevaho, due to a fall in prices in the mining sector, lost $300 million in 2012 and is now in 974th place.

At the same time, Sergiy Tigipko, the former deputy prime minister who currently works as a member of the Party of Regions in Ukraine’s parliament, added $200 million to his fortune and moved to 1,157th position with $1.2 billion.

The largest, but no longer majority stockholder in the Kernel farming group, Andriy Verevsky, whose fortune was estimated at $1 billion in 2012, is at the bottom of the Forbes Billionaires list, in 1,342nd position.

Oleksandr Yaroslavsky, who recently sold his football club, Metalist Kharkiv, and invested in recent years in real estate and aviation, was not included in the rating, although last year he made a $0.96 billion fortune.

At the same time, Forbes still lists Donetsksteel owner Viktor Nusenkis and co-owner of Zaporizhtransformator and Frunze NPO Konstantin Grigorishin as Russians. According to the magazine, Nusenskis’ fortune last year dropped from $2.4 billion to $2.2 billion, and Grigorishin’s wealth shrank from $1.3 billion to $1.2 billion.

In general, the number of Russians included in the global billionaires list is 11 times greater than that of Ukrainians – 110.