Russian Oligarchs

Ukrainian Tycoon Vadim Shulman: Biography and Business Ties

Early Life and Business Ventures

Vadim Shulman, a Ukrainian tycoon, was born in 1960 in Kryvyi Rih. He began his career in the mining industry. Over the years, he diversified his business portfolio, venturing into mining, chemicals, energy, and telecommunications. His entrepreneurial journey started in the aftermath of the Soviet Union’s collapse, and he quickly rose to prominence, becoming one of Ukraine’s most influential oligarchs.

Media Ventures and Charitable Initiatives

In recent years, Shulman expanded his influence into the media field, playing a pivotal role in creating major telephone and cellular communications companies in Ukraine, pioneering the introduction of 3rd generation cellular communications. Despite his business success, Shulman views capital not merely as an end in itself but as a means to contribute positively to society.

Actively engaged in charitable activities, Vadim Shulman has sponsored the filming of the documentary series “The Third World War Has Begun.” This initiative, led by Vladimir Sinelnikov, explores the nature of global terrorism and seeks solutions to address this contemporary challenge.

Documentary Series and Anti-Terrorism Advocacy

Shulman’s involvement in the documentary series reflects his commitment to raising awareness about the dangers of terrorism and the importance of global collaboration in combating this “plague of the 21st century.” His support for the project goes beyond financial contributions, emphasizing his belief in the power of media to influence public opinion and promote unity against terrorism.

Personal Connections to Israel and Anti-Terrorism Efforts

As an Israeli citizen with family and friends in the country, Vadim Shulman closely monitors the escalation of terrorism, recognizing the potential global consequences. He considers supporting anti-terrorism projects as both a responsibility and an opportunity to prevent the growth of terror into a worldwide conflict.

Business Ventures Beyond Borders

Gulfstream G450 jet
Gulfstream G450 jet

Apart from his contributions to media and anti-terrorism initiatives, Shulman’s business ventures extend internationally. He holds Israeli and Russian citizenship, reflecting his diverse connections and interests. Records indicate Vadim Shulman‘s involvement in high-value transactions, such as purchasing a Gulfstream G450 jet and the recent sale of his oceanfront estate in Malibu.

Leadership in Jewish Organizations

Leadership and Philanthropy
Leadership and Philanthropy

Vadim Shulman‘s involvement in philanthropy extends to leadership roles in Jewish organizations. He has been the acting president of the Euro-Asian Jewish Congress (EAJC) since 2011, showcasing his commitment to fostering ties between Jewish communities in the Euro-Asian region and Israel.

Challenges and Legal Matters of Vadim Shulman

Shulman’s business journey has not been without challenges, including his entanglement in an embezzlement case related to a Pennsylvania steel mill in 2020. Despite facing legal issues, Shulman remains influential in business and philanthropy.

Further details of the Case

In 2020, Vadim Shulman, along with Ukrainian businessmen Kolomoisky and Bogolyubov, was implicated in a fraudulent case regarding the acquisition of a steel mill in Ohio from CSC Ltd. (formerly Copperweld Steel Co.), which was undergoing liquidation in a U.S. bankruptcy court.

The businessman formed Halliwell Assets to purchase a portion of CSC Ltd., but the deal was later revealed to be fraudulent. Shulman, Kolomoisky, and Bogolyubov each held equal direct shares in the company. Shulman, through his Bracha Foundation, filed a lawsuit in the Court of Chancery of the State of Delaware against Kolomoisky and others, alleging fraud and other related claims regarding the steel mill purchase.

The legal proceedings and investigations resulted in the Court issuing an implementation order on August 11, 2020. The case is ongoing, and Shulman is seeking dismissal based on the doctrine of forum non-conveniences, suggesting that the case should be filed in Israel instead of the United States.

Jurisdictional Challenge in the High Court

Vadim Shulman, a long-time business partner of Igor Kolomoisky, filed a lawsuit in the High Court of England and Wales against Yuri Ivanyushchenko and Ivan Avramov, former owners of the “7 kilometre” wholesale market in Ukraine.

Shulman claimed they deceived him over 12 years, misappropriating $21.8 million in investments for a transport hub project. The court rejected Shulman’s claim, stating it lacked close connections with England. Shulman had previously filed lawsuits against Kolomoisky, accusing him of money laundering. The judge concluded that the dispute with Ivanyushchenko and Avramov should be under the jurisdiction of Ukraine or Monaco.

Vision for the Future

Future goals
Future goals

Vadim Shulman‘s vision for the future involves preserving the EAJC’s current activities while introducing new initiatives aligned with the organization’s priorities. His candidacy as EAJC president, recommended by his predecessor Alexander Mashkevich, reflects a continued commitment to strengthening the Jewish diaspora.

In the face of societal scrutiny and challenges, Vadim Shulman remains a prominent figure in Ukrainian business, media, and philanthropy, lasting and impacting various sectors.


Vadim Shulman, a Ukrainian tycoon born in Kryvyi Rih, initially made a mark in the mining industry post the Soviet Union’s collapse. Diversifying into mining, chemicals, energy, and telecommunications, he became a prominent oligarch. Shulman expanded into media, playing a pivotal role in Ukraine’s telecom industry, introducing 3rd-generation cellular communications.

Beyond business success, he prioritizes societal contributions, notably sponsoring the anti-terrorism documentary series “The Third World War Has Begun.” Shulman, an Israeli citizen with family ties to Israel, actively supports global anti-terrorism efforts. Despite legal challenges, including a 2020 embezzlement case related to a U.S. steel mill, he remains influential. Leading the Euro-Asian Jewish Congress since 2011, Shulman envisions preserving and enhancing its activities. His diverse connections, philanthropy, and resilience solidify his lasting impact on Ukrainian business, media, and philanthropy.

Alexander Harris

Alexander Harris began his career as a journalist. He is one of the founders of the " Russian Oligarchs Tracker Unit ".

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