Ukrainian oligarchs (Ukrainian: українські олігархи, romanized: ukrayins'ki oliharkhy) are business oligarchs who emerged on the economic and political scene of Ukraine after the 1991 Ukrainian independence referendum. This period saw Ukraine transitioning to a market economy, with the rapid privatization of state-owned assets. Those developments mirrored those of the neighboring post-Soviet states after the dissolution of the Soviet Union. The influence of Ukrainian oligarchs on domestic and regional politics, particularly their links to Russia, has been the source of criticism from pro-Western sources critical of Ukraine’s lack of political reform or action against corruption.[1][2]
In 2008, the combined wealth of Ukraine's 50 richest oligarchs was equal to 85% of Ukraine's GDP.[3] In November 2013, this number was 45% (of GDP).[4] By 2015, due to the Russo-Ukrainian War, the total net worth of the five richest and most influential Ukrainians at that time (Rinat Akhmetov, Viktor Pinchuk, Ihor Kolomoyskyi, Henadiy Boholyubov and Yuriy Kosiuk) had dropped from $21.6 billion in 2014 to $11.85 billion in June 2015.[5] (In 2014, Ukrainian GDP fell by 7%; in 2015, it shrank 12%.[6])
The rise of the oligarchs has been connected to the processes of privatization of state-owned assets. These processes usually involved the distribution of property titles of such enterprises, land, and real estate, on equal base to the whole population of the country, through instruments such as privatization vouchers, certificates, and coupons. Given the different preferences of people in relation to risk-aversity, property titles were easily re-sold. Businessmen who could provide initial investment capital were able to collect those property titles and thus take control over former public holdings.
National security concerns of various Western nations from the oligarchic kleptocracy have been alleged since the early 2000s. The issue gained greater salience after the 2022 Russian invasion of Ukraine where widespread sanctions were enforced against both Russian and Ukrainian oligarchs in March through May 2022, and the national security implications of oligarch funds when a great deal of money—sourced from Ukraine or Russia but spent in the West—finds its way into influencing matters of national security.[7]
The oligarchs' influence on the Ukrainian government is extreme. In 2011 some analysts and Ukrainian politicians believed that some Ukrainian businesses tycoons, with "lucrative relations" with Russia, were deliberately hindering Ukraine's European Union integration.[8]
List of oligarchs by wealth
In total, the top 100 wealthiest business people in Ukraine control around $44,5 billion, according to Forbes,[9] which accounts for 27% of Ukrainian GDP in September, 2021.[10]
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Ukrainian oligarchs Ukrainian ukrayinski oligarhi romanized ukrayins ki oliharkhy are business oligarchs who emerged on the economic and political scene of Ukraine after the 1991 Ukrainian independence referendum This period saw Ukraine transitioning to a market economy with the rapid privatization of state owned assets Those developments mirrored those of the neighboring post Soviet states after the dissolution of the Soviet Union The influence of Ukrainian oligarchs on domestic and regional politics particularly their links to Russia has been the source of criticism from pro Western sources critical of Ukraine s lack of political reform or action against corruption 1 2 In 2008 the combined wealth of Ukraine s 50 richest oligarchs was equal to 85 of Ukraine s GDP 3 In November 2013 this number was 45 of GDP 4 By 2015 due to the Russo Ukrainian War the total net worth of the five richest and most influential Ukrainians at that time Rinat Akhmetov Viktor Pinchuk Ihor Kolomoyskyi Henadiy Boholyubov and Yuriy Kosiuk had dropped from 21 6 billion in 2014 to 11 85 billion in June 2015 5 In 2014 Ukrainian GDP fell by 7 in 2015 it shrank 12 6 Contents 1 Usage 2 List of oligarchs by wealth 3 Chernenko study 4 See also 5 References 6 External linksUsage EditOligarchs are usually defined as businessmen having direct influence on both politics and the economy During the 1990s the oligarchs emerged as politically connected entrepreneurs who started from nearly nothing and got rich through participation in the market via connections to the corrupt but democratically elected government of Ukraine during the state s transition to a market based economy Later numerous Ukrainian business people have taken over control of political parties examples of this are Party of Greens of Ukraine Labour Ukraine and Social Democratic Party of Ukraine united 1 or started new ones to gain seats and influence in the Verkhovna Rada Ukrainian parliament The rise of the oligarchs has been connected to the processes of privatization of state owned assets These processes usually involved the distribution of property titles of such enterprises land and real estate on equal base to the whole population of the country through instruments such as privatization vouchers certificates and coupons Given the different preferences of people in relation to risk aversity property titles were easily re sold Businessmen who could provide initial investment capital were able to collect those property titles and thus take control over former public holdings National security concerns of various Western nations from the oligarchic kleptocracy have been alleged since the early 2000s The issue gained greater salience after the 2022 Russian invasion of Ukraine where widespread sanctions were enforced against both Russian and Ukrainian oligarchs in March through May 2022 and the national security implications of oligarch funds when a great deal of money sourced from Ukraine or Russia but spent in the West finds its way into influencing matters of national security 7 The oligarchs influence on the Ukrainian government is extreme In 2011 some analysts and Ukrainian politicians believed that some Ukrainian businesses tycoons with lucrative relations with Russia were deliberately hindering Ukraine s European Union integration 8 List of oligarchs by wealth EditIn total the top 100 wealthiest business people in Ukraine control around 44 5 billion according to Forbes 9 which accounts for 27 of Ukrainian GDP in September 2021 10 The top 10 Ukrainian oligarchs in 2021 were identified as 10 failed verification Rank Oligarch Value Notes1 Rinat Akhmetov 7 6 billion Energy generation and distribution coal and iron ore mining metallurgy media industry2 Victor Pinchuk 2 5 billion Steel rolling media industry3 Kostyantyn Zhevago 2 4 billion Banking vehicle manufacturing iron ore mining4 Ihor Kolomoyskyi 1 8 billion Banking crude oil5 Henadiy Boholyubov 1 7 billion Banking6 Oleksandr and Halyna Hereha 1 7 billion Retail7 Petro Poroshenko 1 6 billion Vehicle manufacturing confectionery8 Vadym Novynskyi 1 4 billion Metallurgy shipbuilding Russian Orthodox Church9 Oleksandr Yaroslavsky 820 million Real estate metallurgy10 Yuriy Kosiuk 780 million Agriculture food industryChernenko study EditAn economic study by Demid Chernenko identified 35 oligarchic groups based on data points between 2002 2016 11 Oligarch group Owners members System Capital Management Rinat AkhmetovSmart Holding Vadym Novynskyi Andriy KlyamkoEnergy Standard Kostiantyn HryhoryshynIndustrial Union of Donbas Serhiy Taruta Oleh Mkrtchian Vitaliy HaidukEnergo Viktor Nusenkis Leonid BaisarovPrivat Group Ihor Kolomoyskyi Henadiy Boholyubov Oleksiy MartynovGroup DF Dmytro Firtash Serhiy Lyovochkin Yuriy BoykoUniversal Investment Group Vitaliy AntonovAzovmash Yuriy Ivanyushchenko Arsen IvanyushchenkoKernel Andriy VerevskyiMotor Sich Vyacheslav BohuslayevUkrprominvest Roshen Petro Poroshenko Yuriy Kosiuk Oleksiy VadaturskyiNord Valentyn LandykFinance and Credit Kostyantyn Zhevago Oleksiy KucherenkoAstarta Viktor Ivanchyk Valeriy KorotkovDynamo Hryhoriy Surkis Ihor Surkis Viktor MedvedchukInterpipe Victor PinchukTAS Serhiy TihipkoKonti APK Invest Borys KolesnikovObolon Oleksandr SlobodyanUkrinterproduct Oleksandr LeshchinskyiStirol Mykola YankovskyiCreativ Group Stanislav BerezkinDCH Development Construction Holding Oleksandr YaroslavskyiAVK Volodymyr Avramenko Valeriy KravetsConcern AVEC Oleksandr FeldmanAval Fedir ShpigUkrsotsbank Valeriy KhoroshkovskyiPravex Leonid Chernovetskyi and his familyForum Group Leonid YurushevUvercon Eduard PrutnikContinuum Ihor Yeremeyev Serhiy Lahur Stepan IvakhivEpiCentre K Oleksandr Hereha Halyna HerehaCascade Investment Vitaliy KhomutynnikNaftohazvydobuvannia uk Nestor Shufrych Mykola RudkovskyiSee also EditList of Ukrainians by net worth Political parties in Ukraine Russian oligarchs Business magnate History of post Soviet Russia Rise of the oligarchs Oligarchy Robber baron industrialist Corruption in UkraineReferences Edit a b Wilson Andrew 2005 Virtual Politics Faking Democracy in the Post Soviet World New Haven Yale University Press ISBN 0 300 09545 7 Feifer Gregory 2010 06 03 Ukraine s New Rulers What Do They Want RadioFreeEurope RadioLiberty Retrieved 2022 03 03 Kuzio Taras 2008 07 01 Oligarchs Wield Power in Ukrainian Politics Eurasia Daily Monitor Vol 5 no 125 Wilson Andrew 2016 Survival of the Richest How Oligarchs Block Reform in Ukraine PDF Policy Brief European Council on Foreign Relations A Decisive Turn Risks for Ukrainian Democracy After the Euromaidan Carnegie Endowment for International Peace 2016 02 03 Retrieved 2022 03 03 The Ukrainian Economy Is Not Terrible Everywhere The Economist 2016 01 20 Retrieved 2022 03 03 The Transnational Kleptocracy Threat The Eastern Front episode 44 AEI org 11 May 2022 Onyshkiv Yuriy Lavrov Vlad 2011 12 16 EU Hopes Fade As Gas Lobby Triumphs Kyiv Post Retrieved 2022 03 03 100 najbagatshih ukrayinciv 2021 Forbes in Ukrainian 2022 03 03 Retrieved 2022 03 02 a b Report for Selected Countries and Subjects IMF org April 2021 Retrieved 2021 09 27 Chernenko Demid 2018 Capital Structure and Oligarch Ownership PDF Economic Change and Restructuring 52 4 383 411 doi 10 1007 S10644 018 9226 9 S2CID 56232563 External links EditChernovetsky enters Wprost list of 100 richest people by Kyiv Post October 22 2008 To Catch an Oligarch by Jason Felch and Justin Kane Center for Investigative Reporting October 4 2004 Retrieved from https en wikipedia org w index php title Ukrainian oligarchs amp oldid 1133976153, wikipedia, wiki, book, books, library,
