Cypriot Billionaires Shine on Forbes 2024 Rich List
In an impressive display of wealth and business acumen, ten Cypriot citizens have been named among the world’s billionaires, according to the latest Forbes rankings for 2024. The list, which annually compiles the fortunes of the global elite, features a diverse group of individuals from the Mediterranean island, with a range of interests spanning from technology to traditional industries.
At the forefront is Vinod Adani, an Indian-born entrepreneur who has made Cyprus his home. With a staggering net worth of US$24.3 billion, Adani is ranked 88th globally. As the head of the Adani Group, his influence stretches across critical sectors in India, including ports, energy, and infrastructure. Notably, he is the elder brother of Gautam Adani, who was previously ranked as the third richest person in the world.
Close on Adani’s heels is John Fredriksen, a Norwegian-Cypriot shipping magnate, holding the 108th spot with a net worth equal to Adani’s. Fredriksen’s wealth is largely attributed to his vast holdings in oil tankers, cargo ships, and deepwater drilling operations.
The list also highlights Yakir Gabay, a co-founder of Aroundtown SA, a major player in the German real estate market. Gabay boasts a fortune of US$3.9 billion. Alongside him are Igor Makarov, Sergey Dmitriev, and Valentin Kipyatkov—entrepreneurs with strong ties to the tech industry through their respective companies, Itera and JetBrains—and all are proud bearers of Cypriot passports.
The Hadji-Ioannou siblings—Stelios, Polys, and Klelia—also feature prominently. Stelios, known for founding the budget airline easyJet, and his siblings have collectively harnessed their wealth from aviation and shipping to other savvy investments.
Completing this illustrious group is Vladimir Krupchak, a former Russian Duma member and a significant stakeholder in the paper and pulp industry, with a personal net worth of US$1.2 billion.
The presence of these ten individuals on the Forbes billionaires list not only underscores Cyprus’s growing appeal to international business magnates but also highlights the diverse economic activities that contribute to its residents’ colossal fortunes.
