Укр Eng

Press about us

26.05.2007

Rating of the "Korrespodent" magazine. The wealthiest men in Ukraine. Victor Pinchuk

Imagine you are Victor Pinchuk. You are a leader of a successful political bloc. Your father-in-law is the President of the State. All State quotas on export of pipes are given to your enterprises. You are managing the biggest in Europe Ferroalloy Plant. They arrange a tendering on acquisition of the largest metallurgy plant in the country and you purchase it at the price of scrap metal. And one not very nice day they take it away from you. What are you going to do? Aha! Pinchuk was not taken aback, though.

Furthermore, the Dniepropetrovsk billionaire has managed to double his capital for the last year. Accordingly, compared to the last year ranking made by Korrespondent, Pinchuk outrode his closest pursuer, Igor Kolomoiskiy, (No. 3) by more than $ 2 bln. 

What wonder? The owner of Interpipe Corporation is a past-master in turning wicked circumstances into killing profits. Here's the latest instance. Last year Pinchuk was trying to sell his Ukrsotsbank to Italians at a fabulous price - $ 1, 3 bln. However, one man's [Pinchuk's] meat is another man's [Kolomoiskiy's] poison. That is why the latter blocked the transaction through the minority shareholders of Ukrsotsbank. As soon as the way to the Italian money was cleared after multiple lawsuits, the National Bank hit the ground running and defeated the Agreement with Intesa SanPaolo. While the opponents were putting spokes in Pinchuk's wheels, the price of Ukrsotsbank went up to $ 2, 46 bln. It is not improbable that this financial institution will soon be sold at this price or even higher. 

The 46 year-old businessman is also well-known not only for making big money but for spending it. While his Ukrainian millionaire mates are throwing their dollars into the national football, Pinchuk is working hard on humanitarian projects. Wiping out his political image from the memory of Ukrainians, the billionaire is putting on his new public face a make-up of a contemporary art devotee. "He is the first person of all Ukrainian oligarchs who has become known in Europe not only as a businessman but also as a political figure and patron of arts", - said Igor Burakovskiy, Director of the Institute for Economic Studies and Political Consultations. 

As for patronage of art, opening of PinchukArtCenter – the largest private art gallery in Ukraine- in the center of Kyiv last autumn is one of the examples. Moreover, Pinchuk convenes annual round-table meeting of the world political elite. In winters, at the International Forum in Davos (Switzerland). In summers at the YES conference (Yalta European Strategy). The regular participants are: Poland's ex-president, Alexander Kwasniewski; George Soros; Jean Lemière, the president of EBRD. 

At dinner-parties with ample grub, the guests usually pour forth recommendations on how we should attach Ukraine to European Union. One wouldn't usually hear anything new there. At the same time, both events are extremely prestigious. At the latest forum in Davos Pinchuk was treating the head of the Cabinet, Victor Yanukovich, to a dinner, and the latter, by way of gratuity, was feeding the Europeans with promises on Ukraine's inevitable accession to EU. 

Covering one of such informal summits, the Korrespondent asked Pinchuk, whether he considered such events fruitful enough. His answer explains a lot: "Intelligent and right people have gathered together in here". Here's one more talent, not fully discovered though, of Pinchuk the billionaire consisting in gathering "right" people into one deck.

Source: Korrespondent
Share |

Back to the list

Video

RSS All video
27.02.2026

Can Ukraine Count Only on Itself?

27.02.2026

Closing remarks of the YES Special gathering February 24, 2026

27.02.2026

The Politics of Ending the War: Voters, Vibes, and Leadership

27.02.2026

Innovation & Pragmatism UA Style – Vital for Europe.Sanna Marin, Oleksandr Kamyshin

Pages 1 2 3 4 5 ... of 5
 

News

RSS All news

The Victor Pinchuk Foundation has helped to repair equipment for the Cradles of Hope partner centre in Ternopil

05.07.2024

The Victor Pinchuk Foundation has covered the cost of repairs and purchased over UAH 150 000 worth of medical equipment for the Cradles of Hope centre operating on the basis of the neonatal intensive care unit of the Ternopil Oblast Perinatal Centre "Mother and Child".

20 Years After Founding of Yalta European Strategy (YES), the EU Opens Accession Talks With Ukraine

01.07.2024

On July 1, 2004, Yalta European Strategy held its first meeting in Livadia Palace in Yalta in Ukrainian Crimea. Almost to the day 20 years later, on June 25th, 2024, the European Union formally opened accession negotiations with Moldova and Ukraine.

Three partner centres of the Victor Pinchuk Foundation's Cradles of Hope project have received funds to repair equipment and purchase components for newborn intensive care units

28.06.2024

The Victor Pinchuk Foundation's Cradles of Hope project continues to provide systematic support to perinatal centres across Ukraine: The Foundation allocates funds for the repair of equipment, components and consumables to ensure their uninterrupted operation. Since the beginning of Russia's full-scale invasion of Ukraine, this support has been significantly increased, especially for medical institutions that continue to operate near the frontline.

Pages 38 39 40 41 42 ... of 42
Created and supported by: «Art Depo» Creative Agency