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| | The Rich Are Growing Richer |
| | 9 Nov 2006 |
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 A list of the richest people in Central and Eastern Europe points to the snowballing wealth of the Russian "oligarchs" and some of their counterparts to the west
Last week, the Polish weekly Wprost presented its traditional list of "100 Richest People in Central and Eastern Europe." On the list are 48 Russians, 15 Ukrainians, 14 Poles, nine Romanians, four Serbs, three Czechs, three Croatians, two Bulgarians, and two Lithuanians. If these men pooled their riches to establish a republic of their own, their aggregate wealth would amount to $257.5 billion. This republic would hold the 23rd place among the world nations in terms of prosperity.
Compared with last year, the moneybags from the former socialist countries have grown richer by as much as 75%. As before, the top ten of the richest are Russian "oligarchs" (business tycoons). Oil baron Roman Abramovich, with $19.5 billion, remains clearly the richest of the listed names, having increased his capital by $4.5 billion last year. After him comes aluminum king Oleg Deripaska ($13 billion), whose wealth has grown by $7 billion, bringing him up to the second place from the sixth. The other Russian magnates who have added several billion dollars to their capital are Mikhail Fridman, Alexei Mordashov, Vagit Alekperov, Vladimir Lisin, Vladimir Potanin, Mikhail Prokhorov, and Viktor Vekselberg. The best known newcomer on the list of the 100 richest people is 40-year-old State Duma deputy Suleiman Kerimov, ranking tenth. He controls oil major Nafta-Moskva and grew rich on oil, which he sold through intermediaries to Poland among other countries. His capital is estimated at $8 billion.
It's no secret where the Russian business tycoons gained their added wealth. Last year saw soaring world prices for hydrocarbons, and these men are in charge of most of the oil sales. Furthermore some of the "oligarchic" companies last year held IPOs, which allowed them to legalize their newly gained wealth.
In some East European countries, those who top the lists of the richest men have changed places. In Ukraine, for example, Igor Kolomoisky has added $3.5 billion to his capital, bringing it to $6.3 billion; yet he had to give way to Rinat Akhmetov ($7.2 billion).
The deterioration of the price situation on the world market is not the only cause of capital increases and decreases; these ups and downs are also due to dramatic events. For example, 49-year-old Emil Kyulev of Bulgaria, who had ranked 73rd in the 2005 rating, was killed in Sofia in October of that year. His wealth was inherited by his 31-year-old widow and his three sons. The inheritance has kept the Kyulevs on the top 100 list, but further down, in the 95th place.
There is another woman among the billionaires. She is Yelena Baturina, wife of Moscow Mayor Yury Luzhkov. With $1.6 billion, she is the richest woman in Russia and takes the 34th place on the top 100 list.
An interesting figure on the Ukrainian list is Dmitry Firtash ($2.4 billion, 27th place), co-owner of the infamous Swiss gas trader Rosukrenergo, to which Gazprom has accorded exclusive rights to deliver Central Asian gas to Ukraine. Currently, Russia, Ukraine, and Turkmenistan are negotiating natural gas prices and their business relationships for next year. The results of the talks will determine, among other things, whether Firtash will grow richer.
THE RICHEST PEOPLE IN COUNTRIES OF EASTERN EUROPE (rating by Polish magazine Wprost)
Place on the list Country Name Surname Wealth on (bln. dolls.)
1. Russia Roman ABRAMOVICH 19,50
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11. Ukraine Rinat AKHMETOV 7,20
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16. Serbia Philip ZEPTER 4,00
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20. the Czech Republic Petr KELLNER 3,20
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41. Poland Jan KULCZYK 1,36
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51. Bulgaria Vasil BozHkov 1,00
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58. Romania Ion TIRIAC 0,90
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84. Croatia Ivica TODORIC 0,53
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90. Latvia Valerijs KARGINS 0,45
By Dmitry Dokuchayev and Valery Masterov |
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The Rich Are Growing Richer
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