Top 5 Richest Ukrainian Persons in 2025
The wealth of these Ukrainian billionaires has fluctuated significantly as they navigate sanctions, asset seizures, and global market disruptions.
Elon Musk Calls for Sanctions on Ukrainian Billionaires Amid Ongoing War
In early 2025, Elon Musk made headlines by suggesting that Western governments should impose direct sanctions on Ukraine’s wealthiest oligarchs to help end the war with Russia.
Speaking on social media, Musk argued that several Ukrainian billionaires, particularly those with luxury assets in Europe, such as in Monaco and Switzerland, should face stricter financial restrictions. He claimed that limiting their international assets and financial movements could increase internal pressure on Kyiv to reach a settlement.
The comments quickly sparked global debate. While some international observers acknowledged the influence of Ukrainian oligarchs on the country’s political and economic landscape, many critics denounced Musk’s remarks as tone-deaf and poorly timed. Ukrainian authorities responded firmly, highlighting that many of these business leaders have been actively funding humanitarian relief, supplying aid to the military, and supporting reconstruction projects across Ukraine.
The controversy has since raised broader questions about the role of private wealth during wartime and whether targeting individual fortunes can genuinely influence the course of modern conflicts.
Top 5 Richest Ukrainian Persons in 2025, Ranked by Forbes
1. Rinat Akhmetov
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| The richest man in Ukraine Rinat Akhmetov |
- Global Rank: #799
- Net Worth: $4.0 billion
- Age: 58
- Source of Wealth: Steel, Coal
- Industry: Metals & Mining
- Nationality: Ukraine
Rinat Akhmetov continues to top the list as Ukraine’s wealthiest individual, despite the destruction of many of his key industrial assets during the war, particularly in Mariupol and the broader Donbas region. As owner of SCM Holdings, Akhmetov retains control over substantial operations in steel production, energy, and telecommunications.
In addition to managing his business empire amid turmoil, Akhmetov has invested heavily in humanitarian initiatives. Through his charitable foundation and the SCM Group, he has provided substantial aid for Ukraine’s armed forces, displaced civilians, and rebuilding efforts. Akhmetov has publicly voiced strong support for Ukraine’s sovereignty and recovery.
2. Victor Pinchuk
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| Billionaire Buddy Victor Pinchuk Among Ukrainians Sanctioned By Russia |
- Global Rank: #1,655
- Net Worth: $2.0 billion
- Age: 64
- Source of Wealth: Steel Pipes, Diversified Investments
- Industry: Metals & Mining
- Nationality: Ukraine
Victor Pinchuk, another prominent business figure, is known for his company Interpipe, one of the world's leading producers of steel pipes. His wealth has remained relatively stable thanks to diversified international investments. Pinchuk is also an influential philanthropist, advocating for Ukraine’s Euro-Atlantic integration through his Victor Pinchuk Foundation and initiatives like the Yalta European Strategy (YES) forum.
In 2025, Pinchuk remains focused on supporting Ukraine’s post-war recovery through education, healthcare, and diplomatic outreach programs, while maintaining strong business connections abroad.
3. Vadym Novynskyi
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| Vadym Novynskyi |
- Global Rank: #2,413
- Net Worth: $1.2 billion
- Age: 61
- Source of Wealth: Steel
- Industry: Metals & Mining
- Nationality: Ukraine
Vadym Novynskyi, a key figure in Ukraine’s steel industry and former parliamentarian, has faced substantial challenges over the past few years. In late 2022 and early 2023, the Ukrainian government imposed sanctions on him, alleging connections to Russia. Over $1 billion in assets associated with Novynskyi were seized.
Although Novynskyi has publicly rejected any pro-Russian affiliations and affirmed his support for Ukraine, authorities annulled the offshore trust he had established in Cyprus to manage his business interests, re-listing him as the primary shareholder of his major enterprises. Novynskyi has since filed legal claims at the European Court of Human Rights, challenging the sanctions and asset seizures, which he describes as politically driven.
4. Kostyantin Zhevago
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| Kostyantin Zhevago |
- Global Rank: #2,539
- Net Worth: $1.1 billion
- Age: 51
- Source of Wealth: Mining
- Industry: Metals & Mining
- Nationality: Ukraine
Kostyantin Zhevago, CEO and majority shareholder of Ferrexpo, continues to hold a significant role in the global iron ore market. Despite Ferrexpo’s financial resilience, Zhevago has faced ongoing legal disputes related to the alleged misappropriation of funds at his former finance company, Finance & Credit Bank.
In 2024, a French court ruled on Ukraine’s request for his extradition, but the proceedings remain complex. Zhevago maintains his innocence and is working to stabilize Ferrexpo’s operations amid market fluctuations and logistical challenges brought on by the war.
5. Henadiy Boholyubov
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| Henadiy Boholyubov |
- Global Rank: #2,724
- Net Worth: $1.0 billion
- Age: 63
- Source of Wealth: Banking, Investments
- Industry: Finance & Diversified
- Nationality: Ukraine
Henadiy Boholyubov, co-founder of PrivatBank alongside Ihor Kolomoisky, remains among Ukraine’s wealthiest, even after the nationalization of the bank in 2016. While Boholyubov has kept a relatively low profile in recent years, he has been involved in a series of international legal battles, particularly in the UK, related to PrivatBank’s previous management and billions of dollars in alleged misappropriated funds.
Boholyubov’s diversified portfolio includes real estate and energy assets outside Ukraine, which have helped preserve his billionaire status amid a volatile economic landscape.
The Impact of War and Sanctions
The full-scale war has significantly reduced the wealth of Ukraine's richest persons. Rinat Akhmetov, for instance, lost more than $9 billion due to the destruction of industrial facilities and supply chain disruptions. Similarly, sanctions and asset freezes have affected both Novynskyi and Boholyubov, while Zhevago faces legal headwinds internationally.
Despite these hardships, most of these businessmen have remained active in Ukraine’s economic and humanitarian landscape. Several have pivoted their focus to philanthropic activities and strategic investments that support Ukraine’s defense and post-war recovery.
Conclusion
The resilience of Ukraine’s top billionaires in 2025 underscores their ability to adapt amid adversity. From legal disputes to asset seizures, they continue to shape Ukraine’s business environment while grappling with the immense challenges brought on by war.
While their rankings on Forbes' billionaire list reflect the toll the conflict has taken on Ukraine’s economy, these figures also symbolize the country’s enduring entrepreneurial spirit and determination to rebuild.
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