Ukraine's Richest Man Buys Monaco Apartment for More Than $500 Million
Ukrainian oligarch Rinat Akhmetov has made one of the most expensive residential real estate purchases in history. According to a Bloomberg report, Akhmetov, regarded as the richest person in Ukraine, paid 471 million euros, or 554 million dollars, for a luxury apartment in Monaco.
The apartment is in the Mareterra project facing the sea and spans 2,500 square meters across five floors. It includes 21 rooms, a private pool, a jacuzzi and at least eight parking spaces. According to estimates, the apartment is located in a tower designed by architect Renzo Piano.
The deal was completed in 2024, but the details are being revealed only now after they were leaked by Distributed Denial of Secrets, an organization that stores and publishes stolen or leaked documents in the name of the public interest. Akhmetov's holding company, System Capital Management, confirmed that it purchased the property, but did not disclose the price or additional details.
The sale contract was signed shortly before Russia's invasion of Ukraine at the end of February 2022, which led to losses of billions of dollars in his business empire. Akhmetov was once included among the 500 richest people in the world, but fell out of the rankings because of losses in recent years. According to Bloomberg's Billionaires Index, his fortune is now worth more than 7 billion dollars, and comes mainly from System Capital, the largest industrial conglomerate in Ukraine, with holdings in mining, energy and real estate. He also owns the Ukrainian football club Shakhtar Donetsk.
This is not the first property Akhmetov has bought on the Riviera. In 2019, he paid 200 million euros for an estate in the area that had been owned by the beverage company Campari. The Mareterra project where the expensive apartment is located consists of environmentally friendly skyscrapers alongside public spaces and a marina. Apartment prices in the area are above 100,000 euros per square meter, reflecting strong demand and limited supply.
Earlier this month, another expensive real estate deal was reported. British developer Nick Candy paid 350.5 million dollars for a house in London's Chelsea neighborhood that had previously belonged to Britain's first prime minister, Robert Walpole, in a transaction described as the most expensive in the UK.
