After the start of the full-scale war, the business of the richest man in Ukraine, Rinat Akhmetov, suffered significant losses due to the fact that many of his assets are located either in the occupied territories or in the war zone. Only his energy holding DTEK has already lost about 70% of its value.
Forbes writes about it.
Heavy industry generates about 90% of the profit of all Akhmetovʼs wealth. It is built on two pillars: the mining and metallurgical holding "Metinvest" and the energy holding DTEK.
"Metinvest" has already suffered significantly from Russian aggression, in particular due to the loss of factories in occupied Mariupol. Currently, it is believed that Russian forces have destroyed two-thirds of Metinvestʼs assets.
Energy holding DTEK has been less affected so far, but still revenues continue to decline. Due to the war, DTEK Energoʼs revenue fell by 20%, electricity production by 30%, and its share in the electricity market fell to 20%.
There are several reasons for this, including the fact that electricity consumption has fallen. The company also lost control over the Luhansk TPP. The Zaporizhzhia TPP is also stopped because it is located in occupied Enerhodar. At the same time, Kryvyi Rih TPP and Kurakhiv TPP are located very close to the front and are under fire.
According to Forbes, before the war, DTEK was worth $1.92 billion, but now its value has fallen to about $580 million.
- On July 11, 2022, Rinat Akhmetov announced that he was leaving the media business. "Media Group Ukraine" renounced all broadcast and satellite television licenses and print media licenses in Ukraine in favor of the state. The online media of Moscow State University are also not working. Rinat Akhmetovʼs media holding "Media Group Ukraine" unites the channels "Ukraina", "Ukraina 24", "Football 1/2/3", NLO TV, multimedia platform “Sohodni", "News Group Ukraine" and others.
- On July 14, the Minister of Justice, Denys Malyuska, stated that billionaire Rinat Akhmetov no longer falls under the definition of an oligarch, as he has left the media business, and his business partner Vadym Novinsky has signed a mandate as a Member of Parliament.