Kolomoisky drops from dollar billionaire status as net worth plummets 2.5x amid war, Forbes estimates
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The net worth of Ukrainian oligarch Ihor Kolomoisky has fallen by two-and-a-half times since the start of the full-scale invasion, from $2 billion to $835 million, according to a recent assessment of the oligarch's wealth, Forbes Ukraine reported on Sept. 8.
A few days before Russia's full-scale invasion on Feb. 24, 2022, Kolomoisky's business and the informal “Privat Group” were at their peak value in the last seven years. At the time, Forbes estimated the businessman's wealth at $2 billion, the highest value since 2014.
Read also: $27.3 million in alleged fraud: Kolomoisky ’s case
However, as of early September 2023, when Kolomoisky had two charges pressed against him in the space of one week and was taken into custody, his net worth, according to Forbes, was two-and-a-half times less and amounted to $835 million.
The fact that Kolomoisky is no longer a dollar billionaire was also evidenced by the publication's calculations at the end of 2022 ($850 million). The current estimate also takes into account the financial performance of Kolomoisky's businesses over the past year, the journalists note.
Read also: Oligarch Kolomoisky charged with embezzling $250 million from PrivatBank
During the full-scale war, the businessman lost one of his key assets, Ukrnafta, Ukraine's largest oil producer. In the fall of 2022, Ukrnafta, Ukrtatnafta, and a number of other companies became state-owned following a decree issued by Volodymyr Zelenskyy.
One of the oligarch's most expensive assets is not ports or steel mills, but airplanes and yachts, such as the 90-meter Lauren L worth about $97 million, the publication notes.
The basis of his wealth is currently the oil and gas part of the Privat business group.
Read also: NABU freezes Kolomoisky’s assets
Kolomoisky's business empire also includes the 1+1 media group (worth $69 million), Privat Group's regional power distribution companies, the Kremenchuk oil refinery (Ukrtatnafta), and several smaller refineries, JKX Oil & Gas, which owns Poltava Petroleum Company, a pool of steel plants, and Ukraine International Airlines (UIA), which is currently a zero-value asset.
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Read the original article on The New Voice of Ukraine
