⬅ # 627 Joe Liemandt|# 629 John Sall

# 628 Rinat Akhmetov 


Real Time Net Worth
as of 4/12/2024
$2.5M (0.05%)

# 628 Rinat Akhmetov 


Real Time Net Worth
as of 4/12/2024
$2.5M (0.05%)
OccupationOwner, System Capital Management
Source of WealthSteel, Coal
ResidenceDonetsk, Ukraine
Marital StatusMarried
EducationBS, Donetsk National University
Age-Adjusted Net Worth$6.26B
Rinat Akhmetov
Rinat Akhmetov
Net worth: $5.11B

Self-Made Score 

Wealth History

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Early Life

Rinat Leonidovych Akhmetov was born on September 21, 1966 into a working-class family in Donetsk, Ukraine
His older brother, Igor, also worked as a coal miner but resigned due to health complications
Received a bachelor's degree in economics from Donetsk National University in 2001

Business Career Beginnings

Started buying up mining assets during the 1990s privatization era
Founded a company called ARS in 1992, processing coal into coke
Claims to have earned his first million through trading coal and coke and investing in assets others didn't want to buy

Controversies and Allegations

Accusations of alleged criminal past, including ties to organized crime
Reports of being a former 'mafia thug' and 'enforcer' for a crime boss in Donetsk
Speculations about involvement in organized crime activities and extortion in the 1980s and 1990s
Investigations and accusations by Ukrainian authorities, including accusations of being the head of an organized crime group
Charges dropped amid political shifts, including support from the Party of Regions
Fled the country amid investigations, later returned after charges were dropped

Business Empire and Philanthropy

Founder and president of System Capital Management (SCM), Ukraine's largest diversified financial and industrial group
Owner and president of Ukrainian football club Shakhtar Donetsk
Major holdings include Metinvest (mining and metallurgy), DTEK (energy), and Ukrtelecom (telecommunications)
Reported significant tax contributions to Ukrainian government during various periods
Notable philanthropic efforts, including donations to support civilians during conflicts in Donbas region
Reportedly awaiting delivery of a $500 million yacht named Project Luminance

How long would it take you to become as rich as Rinat Akhmetov?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Rinat Akhmetov's net worth of $5.11B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 36.27% compared to 8.51% for the S&P 500 benchmark.

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Rinat Akhmetov is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Rinat Akhmetov, Steel and Coal are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey