Rinat Leonidovych Akhmetov [ Rinat Akhmedtov ] is a Ukrainian billionaire and businessman, known as the founder and president of System Capital Management (SCM). As of April 2023, he holds the title of the wealthiest individual in Ukraine and is globally ranked as the 460th richest person, boasting an estimated net worth of US$5.7 billion.
Beyond his business ventures, Akhmetov serves as the owner and president of the Ukrainian football club Shakhtar Donetsk. Born in Donetsk, Ukrainian SSR, to a working-class family, he identifies as an ethnic Volga Tatar and practices Sunni Islam. In 2001, Akhmetov earned a bachelor’s degree in economics from Donetsk National University.
Details about Akhmetov’s rise to wealth after the fall of communism in Ukraine, particularly his activities between 1985 and 1995, remain controversial. In interviews, Akhmetov attributes his success to shrewd business investments during the early post-Soviet years. In 1992, he, along with two partners, founded ARS, a company specializing in processing coal into coke, a crucial component in steel production.
Despite claims in various publications, including some retractions, regarding Akhmetov’s alleged “criminal past,” he vehemently denies any involvement with criminal organizations. In a December 2022 interview with The Washington Post, Akhmetov Say…
“I have never been associated with any criminal activities, faced prosecution, or had criminal charges filed against me.”Rinat Akhmedtov
Rinat Akhmedtov Ukraine Billionaire Faces Sanctions by its own Country (Ukraine)
Ukrainian President Volodymyr Zelensky has accused Akhmetov of allegedly assisting Russia in planning a coup against him, leading to sanctions on some of Akhmetov’s media assets and a prohibition on funding political parties.
Some of the Media Assets of Rinat Akhmetov
- SCM Holdings
- Metinvest (mining and metallurgical business)
- DTEK (energy industry)
- First Ukrainian International Bank (finance)
- Ukrtelecom (telecommunication business)
- ESTA Holding (real estate)
- A court has ordered the temporary suspension of $820 million in assets belonging to a Ukrainian oligarch.
Rinat Akhmetov, Ukraine’s wealthiest individual, has received a court order from Cyprus freezing $820 million of his assets amid an ongoing legal dispute with a rival over the country’s largest fixed-line telecoms group. Akhmetov, whose fortune was estimated at $4.6 billion by Forbes last year, has diverse holdings spanning coal, steel, energy, telecoms, and the Uefa Champions League football club Shakhtar Donetsk.
The frozen assets may include a residence in London’s One Hyde Park, which was the UK’s most expensive private residence at the time of purchase. With this ruling, three out of Ukraine’s five richest oligarchs now face asset freezes of varying sizes. In a separate case, the London High Court recently ordered the freezing of over $2.5 billion in assets belonging to Igor Kolomoisky and Gennady Bogolyubov, linked to the near-collapse of PrivatBank in 2016.
Challenges, disputes, and investigations are mounting against Ukraine’s powerful oligarchs, exacerbated by the economic downturn since the pro-democracy revolution in 2014. The Cyprus District Court’s decision, dated December 27, pertains to Akhmetov and nine other parties involved in a dispute initiated by Raga Establishment, owned by former Ukrainian banker Denis Gorbunenko. Raga seeks full payment for the sale of Ukrtelecom, alleging that Akhmetov paid only $100 million upfront of the $860 million agreed upon in the 2013 transaction.
The freeze order allows Akhmetov and other respondents to manage their property, provided assets worth at least $820.5 million—the sum sought by Raga—are preserved, and certain significant transactions are disclosed to Raga in advance. Raga had previously secured an award at the London Court of International Arbitration against Akhmetov’s company, SCM Financial Overseas, in June of the previous year based on a parallel claim.
For More information on These visits: financial times
The White House has also hinted at the possibility of imposing additional sanctions on Akhmetov.
As per current source and results, there is no conclusive evidence of other countries imposing sanctions on Rinat Akhmetov. Nonetheless, reports indicate that the White House has not dismissed the possibility of imposing sanctions against him. Additionally, Ukrainian President Volodymyr Zelensky has accused Akhmetov of allegedly assisting Russia in planning a coup against him.
Ukrainian Billionaire Rinat Akhmetov Takes Legal Action Against Russia Amid Accusations and Sanctions
Ukrainian billionaire Rinat Akhmetov has taken legal action by filing a lawsuit against Russia at the European Court of Human Rights (ECHR), alleging violations of his property rights during the country’s invasion of Ukraine. In this legal pursuit, he seeks compensation for the losses and damages inflicted by the Russian armed forces on his industrial facilities, including the Azovstal steelworks in Mariupol. Additionally, Akhmetov is urging the court to intervene and prevent Russia from further engaging in activities such as blockading, looting, diversion, and destruction of the grain and steel produced by his companies.
As the founder and shareholder of System Capital Management (SCM) Group, the largest private business group in Ukraine, Akhmetov is not only a prominent businessman but also a philanthropist. His substantial donations, amounting to millions of dollars, have been directed towards supporting the Ukrainian army and assisting those affected by the ongoing conflict. Despite the challenging circumstances, Akhmetov has made a commitment to remain in Ukraine and actively support his country in its struggle against Russia.
However, Akhmetov finds himself entangled in political controversy, with Ukrainian President Volodymyr Zelensky accusing him of involvement in planning a coup in collaboration with Russia. In response to these allegations, Zelensky has imposed sanctions on certain media assets belonging to Akhmetov and has prohibited him from funding political parties. Notably, the White House has left open the possibility of imposing further sanctions on Akhmetov.
Despite the political turmoil and accusations, Akhmetov stands out among Russian oligarchs by openly condemning the war in Ukraine and criticizing Russian President Putin’s aggressive actions. He emphasizes the need for accountability, asserting that “evil cannot go unpunished” and highlighting the egregious nature of Russia’s actions against Ukraine and its people.