Ukraine's richest man buys luxury apartment in Monaco for $550 million

Prefer on Google by Lucy Pakhnyuk Rinat Akhmetov, owner and president of FC Shakhtar Donetsk, is interviewed after the UEFA Conference League quarterfinal first-leg match between Shakhtar Donetsk and AZ Alkmaar on April 9, 2026, in Krakow, Poland. (Mateusz Slodkowski/UEFA via Getty Images) Ukrainian billionaire and oligarch Rinat Akhmetov purchased a luxury apartment in Monaco valued at 471 million euros ($554 million), Bloomberg reported April 21. The transaction ranks among the most expensive residential property deals in history, according to Bloomberg . The waterfront apartment spans more than 2,500 square meters (27,000 square feet) and includes 21 rooms, a private swimming pool, a jacuzzi, and at least eight parking spaces. Details of the sale, finalized in 2024, were obtained from Monaco's property records, as well as emails and preliminary deeds reviewed by Bloomberg Businessweek. The documents were sourced from Distributed Denial of Secrets, a nonprofit that archives and publishes hacked and leaked documents in the public interest. Akhmetov's holding company, System Capital Management, confirmed it had acquired property in the development, but declined to disclose the price or further details. The purchase agreement was signed shortly before Russia's full-scale invasion of Ukraine in 2022, which has disrupted the oligarch's business empire, resulting in billions of dollars in losses and damage. Akhmetov has a net worth exceeding $7 billion, according to the Bloomberg Billionaires Index. His wealth is largely derived from System Capital Management, Ukraine's largest industrial conglomerate, with holdings in metallurgy, mining, energy, and real estate. He previously ranked among the world’s 500 richest individuals, but has since seen his net worth decline following the invasion. His assets include DTEK , the country's largest private energy firm, which has been repeatedly targeted by Russian forces, particularly during the past winter. His war losses also include the Mariupol -based Azovstal, one of the largest steelworks in Europe and a site of heavy fighting in the first year of the war, and Ilyich Iron and Steel Works, Ukraine's second-largest metallurgical enterprise. He also owns FC Shakhtar Donetsk, one of Ukraine's most prominent football teams, and is a former lawmaker with the pro-Russian Party of Regions.