The Top 20 richest people in Dnipro

For more than two decades people of Dnipro descent have introduced the keynote of policy and business. The most interesting things began in the city when no leaders with universal ambitions left

Contemporary history of Dnipro can be divided into 3 stages.

In 1990s the nationwide leaders were originally here. It was the epoch of Leonid Kuchma and Pavlo Lazarenko, under the hands of whom “Privat” group, the Yulia Tymoshenko’s and  Viktor Pinchuk’s business empires foundation were laid. At the end of decade Dnipro oligarchs outgrew their small motherland for good and started spreading – in Kyiv, Geneva or London.

In the 00’s they tried to hold the power and influence, conquered in the previous decade.

Today Dnipro’s image is defined by representatives of medium-size business. They earn good money in retail, real estate development, agriculture and industry. Total capital of the Top 20 richest people in Dnipro — $2,2 billiard. And they are not going to leave the city.

“There are no local economic mainstays in Dnipro, though there are city-forming people, — says one of them. Unlike Donetsk, the progress goes from the bottom here not vice versa.

How the calculations were made

The list consists of businessmen who live in Dnipro and hold companies with head-quarters in this city. All the assets were calculated (businesses, real estate, land parcels, blocks of shares, luxuries) and also M&A bargains. While calculating of non-public company value we use the information about their earnings, manufacturing, income, debts as of 30.06.2012. When selecting trading multiples (enterprise value to earnings, EBITDA or other index) the Bloomberg and industry analysts’ data were used. Real estate and land parcels were evaluated based on the information about square, rental and capitalization rates.



Vadim Ermolaev

$183 million

Vadym Yermolaiev

Photo: given IA “Most Dnepr”

Age: 45 years

Business dimension: alcohol manufacturing, real estate

Family status: married, 3 children

If he plays, he plays to win.

The most private businessman of Dnipro, Vadim Ermolaev, who began with distributing import consumers good, is a born leader. That is why A letter is his favourite one. His corporation “Alef” which includes more than 20 lunes – from crop research to window frames manufacturing – got its name from the first letter of Hebrew alphabet. The name of majority of his companies also begins with A. For example, logistics company “Aquarelle” which possesses two river motorships “Alcor” and “Atlas”.

Ermolaev got engaged in development because he didn’t like how the center of his city looked like. Today he’s the main developer of Dnipro. Successful business is the basis of his fortune.


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