Akhmetov Rinat

Aktivs

Metinvest

As of October 2022, Rinat Akhmetov's main asset is Metinvest metallurgical holding. The largest enterprises are located in Mariupol - Azovstal and the plant named after Ilyich. Both plants are controlled by the DPR, the fate of the first at this time is still completely unclear, the second should restore work.

Another large enterprise is the Avdeevsky Coke Chemical Plant. As of October 2022, it was mothballed, as it is in the zone of active hostilities.

Of the large metallurgical plants, only Zaporozhstal in Zaporozhye, which operates at half capacity, as well as Kametstal in Dneprodzerzhinsk, where only one furnace out of three was launched, remained.

DTEK

Another major asset is the energy company, DTEK whose power plants are located just in the war zone. Two stations at this time are located on the territory controlled by: Russia Luganskaya in Happiness and Zaporizhzhya TPP in Energodar. Two more are constantly fired upon: Kryvyi Rih and Kurakhovskaya TPP.

The oligarch's revenues fell by 20% due to a decrease in energy consumption. As a result, the value of the company's assets decreased by 70% to 580 million. dollars

Akhmetov also lost control of three wind farms, which in general produced 500 mW: Botievskaya, Primorskaya and Oryol. And the only wind farm remaining in the territory controlled by Ukraine has not yet been completed.

Ukrtelecom

Ukrtelecom provides Internet access and landline services. By mid-October 2022, since the beginning of Russia's special operation in Ukraine, 34 buildings owned by the company were destroyed and 165 were damaged.

UMPS

As of October 2022, Akhmetova's First Ukrainian International Bank (PUMB) ranks sixth among Ukrainian banks. If in January 2022 he brought income of almost 600 million hryvnia, then in July he showed losses of 33 million hryvnia.

HarvEast

Akhmetov also owns the HarvEast agricultural holding, which grows wheat and sunflower in Donetsk, Kyiv and Zhytomyr regions, and is also engaged in dairy farming. As of October 2022, 90 thousand of the 130 thousand hectares of land owned by the holding are now located in the territory controlled by the DPR. Another thousand hectares of land must be cleared.

Biography

First capital at the card game

Rinat Akhmetov in December 2022 said that at the beginning of his career he was a catala. "I earned my first capital by playing cards," he said.

2022

Waiver of all media licenses

In July 2022, the largest Ukrainian oligarch Rinat Akhmetov announced that he was renouncing the licenses of all his media. Its SCM holding included 11 television channels, several media agencies and a major news resource.

The official reason is Akhmetov's unwillingness to fall under the new law, according to which he may be in the register of oligarchs. This will limit business opportunities with European companies.

In fact, the situation is much more banal: he simply does not have funds for SCM. Advertising revenue, for example, has fallen 98% since February. The media holding was already a subsidized project, the costs of which were covered by income from metallurgical enterprises belonging to the oligarch, including the Azovstal plant. However, with the start of the SVO, they also fell sharply.

Despite his habit of negotiating with any government, sometimes Akhmetov nevertheless entered into conflicts. In particular, in 2021, he entered into a confrontation with Volodymyr Zelensky, against whom the media belonging to the oligarch were set. Now this is in the past: the Ukrainian president will actually receive a monopoly on the media sphere of the whole country.

A 64% reduction in wealth from $13.7 billion to $4.9 billion

Since the beginning of the special operation of Russia in Ukraine, Rinat Akhmetov has lost 64% of his fortune, writes Forbes.

At the beginning of 2022, his fortune was estimated at $13.7 billion, and in July - already at $4.9 billion.

Akhmetov owned two metallurgical plants in Mariupol - Azovstal and named after Ilyich.

True, having lost them, he still remained the richest businessman in the country.

2023

Renewed capital growth

As of April 2023

Seizure of assets in Russia

The Basmanny Court of Moscow arrested the assets of Ukrainian businessman Rinat Akhmetov in the case of financing the Armed Forces of Ukraine (AFU). This was reported on July 31, 2023 by the TASS agency with reference to the corresponding court order.

The court ruled to seize the property of Metinvest Eurasia LLC, a private limited liability company Metinvest B. V., Belgorodmetallosnab LLC, the document says, excerpts from which the publication cites.

Rinat Akhmetov

According to the Unified State Register of Legal Entities, Belgorod Metallosnab LLC is a member of Metinvest Eurasia LLC (registered in Moscow), the founder of which is Metinvest B. V. The latter is part of the SCM Holdings Limited group of companies, 100% of which are owned by Akhmetov. The holding includes more than 100 enterprises of the metallurgical and mining industries, enterprises of the electric power and agricultural complex, media holdings, banks and other organizations (by July 2023).

According to the Kommersant newspaper, the case under Part 1.1 of Art. 205.1 of the Criminal Code is being investigated since September 2020 by the Main Investigation Department of the TFR. According to investigators, since April 2022, unidentified persons from among the leaders and beneficiaries of SCM Holdings Limited, registered in the British Virgin Islands, have financed the Ukrainian army, as well as the Azov battalion (recognized in Russia as a terrorist organization and banned), including at the expense of funds received from Russia.

According to the publication, we are talking about tens of millions of rubles. The money was transferred from the settlement account of the Moscow Metinvest Eurasia LLC - the sales structure of Metinvest - to the First International Ukrainian Bank, the ultimate beneficiary of which is Akhmetov.

Earlier, Akhmetov filed a lawsuit against Russia with the European Court of Human Rights (ECHR), demanding compensation for the victims of Azovstal and the Ilyich Mariupol Metallurgical Plant.^[1]

2024: Arrest of a railway section and 16 buildings in Crimea

The Basmanny District Court of Moscow seized the property of Metinvest Eurasia, a company associated with Ukrainian businessman Rinat Akhmetov. This became known in early September 2024. A section of the railway with a length of more than one kilometer, as well as 16 buildings located in Sevastopol and Simferopol, were arrested.

According to RIA Novosti, the arrest was imposed as part of a criminal case, in which the leaders and beneficiaries of SCM Holdings Limited appear. Owning this group of companies, Akhmetov, according to the investigation, provided financial support to Ukrainian armed groups through the accounts of Metinvest Eurasia LLC, registered in Moscow. The court found that the funds from these accounts were transferred in favor of the military personnel of Ukraine.

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Bloomberg

According to court materials, not only railway sections and buildings were arrested, but also other assets owned by Metinvest Eurasia. Including, we are talking about shares in several companies, a land plot in Belgorod with an area of ​ ​ more than 75 thousand square meters, as well as other material values, including metal sheets and rolls of 15 tons each.

In August 2024, the court decided to extend the arrest until December 2, 2024, confirming that there were no grounds for its cancellation or change. As follows from the case file, funds placed in bank accounts and vehicles belonging to the company were also arrested.

The seizure of property was the result of an investigation being conducted against companies associated with Rinat Akhmetov, including Metinvest Eurasia. The company owns assets in Russia, including in Crimea and Belgorod, which were involved in a criminal case on suspicion of financing the Ukrainian military.^[2]

Notes