Thursday, October 04, 2012

Yanukovych Jr's. incredible rise

My previous blog reveals that president Yanukovych's older son, Alexandr, is now the most successful businessman in Ukraine when it comes to winning state tenders.

' 'recently ran a story explaining how his business operates.

Here is a summary:

In the past year Yanukovych Jr.'s wealth almost doubled. In April this year he entered the list of Ukraine's top 100 wealthiest businessmen.

His Ukrainian Development Bank is one of the three most dynamic banks in the country [It's CEO, Valentyna Arbuzova, just happens to be the mum of the chairman of the National Bank of Ukraine].

Companies set up by Yanukovych Jr.'s top managers, or registered at the address where his companies are located, this year won more than  5 billion hryvnias worth of public tenders for the supply of mining equipment and coal.

A significant portion of the companies controlled by Yanukovych, Jr have no website so it was difficult for 'Forbes' to find out the names of the 'brilliant' managers who he claims have made his companies so successful, but 'Forbes's journalists knocked together the graphic above. When it comes to answering questions about the the president's son's businesses, Donetsk businessmen become paranoid. Most refuses even informal communication.

Alexandr Yanuk business empire is run from the top six floors of this Donetsk business centre. [Photos and graphics from 'Forbes']

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