Rinat Akhmetov
Encyclopedia
Rinat Leonidovych Akhmetov is a Ukrainian
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...

 businessman. He is the founder and President of System Capital Management
SCM Holdings
System Capital Management or SCM is a major Ukrainian financial and industrial holding company with headquarters based in Donetsk in the east of the country. The business is controlled by a Ukrainian businessman Rinat Akhmetov who owns 100% of the company shares...

, and is ranked among the wealthiest men in the nation. Akhmetov is also the owner and President of the Ukrainian football club Shakhtar Donetsk. Since the 2007 Ukrainian parliamentary election
Ukrainian parliamentary election, 2007
Early parliamentary elections in Ukraine took place on 30 September 2007. The date of the election was determined following agreement between the President Viktor Yushchenko, the Prime Minister Viktor Yanukovych and the Chairman of the Verkhovna Rada Oleksandr Moroz on 27 May 2007, in an attempt...

 Akhmetov has been a member of the Ukrainian Verkhovna Rada
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...

 (parliament) for the Party of Regions
Party of Regions
The Party of Regions is an Ukrainian political party created on October 26, 1997 just prior to the 1998 Ukrainian parliamentary elections under the name of Party of Regional Revival of Ukraine. It was reformed later in 2001 when the party united with several others...

.

Early life

Rinat Akhmetov was born in Donetsk
Donetsk
Donetsk , is a large city in eastern Ukraine on the Kalmius river. Administratively, it is a center of Donetsk Oblast, while historically, it is the unofficial capital and largest city of the economic and cultural Donets Basin region...

, Ukrainian SSR to a Tatar working-class family - his father was a coal-miner, and his mother was a shop assistant. Rinat Akhmetov has an older brother, Igor, who as well worked as a coal miner but had to resign due to professional disease. Akhmetov is Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...

 / Science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...

 in Economics at the Donetsk National University
Donetsk National University
Donetsk National University is the leading higher educational institution in Donetsk Oblast, Ukraine. The University's history starts in 1937 from the moment of creation of a pedagogical institute in Donetsk . In 1965, the Institute was transformed into Donetsk State University...

, he graduated in 2001.

Family

  • father Leonid Akhmetov, died in 1991 from professional disease
  • mother Nyakiya Akhmetova, Chairlady of supervisory board of JSC SCM
  • brother Igor Akhmetov
  • spouse Liliya Smirnova (b.1965), Chairlady of the audit commision of JSC SCM
  • son Damir (b.1988)
  • son Almir (b.1997)

Business career

Akhmetov became the head of Donetsk City Bank and a specialist in the banking sector. In 1996 he became the president of the football team, FC Shakhtar
FC Shakhtar Donetsk
FC Shakhtar Donetsk is a Ukrainian professional football club from the city of Donetsk. Shakhtar has appeared in several European competitions and currently is often a participant of the UEFA Champions League. The club became the first Ukrainian club to win the UEFA Cup in 2009, the last year...

  and has held this post since then.

SCM

Akhmetov founded System Capital Management Group
SCM Holdings
System Capital Management or SCM is a major Ukrainian financial and industrial holding company with headquarters based in Donetsk in the east of the country. The business is controlled by a Ukrainian businessman Rinat Akhmetov who owns 100% of the company shares...

 (JSC "SCM") in 2000, and it has grown to be one of Ukraine’s leading financial and industrial firms with revenues of $18.539 billion in 2009, and in 2010 the value of Group assets made around $16 billion, according to Forbes. Rinat Akhmetov has been SCM sole proprietor
Sole proprietorship
A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits and has unlimited responsibility for...

 since April 7, 2009.

Key assets of SCM Group as of 1 January 2011:
  • SCM
  • Metinvest Holding
    Metinvest
    Metinvest is an international and vertically integrated mining and steel corporation. It was established on 6th June 2006 by the SCM Group. In 2007 Metinvest Ukraine LLC and Metinvest Service Metal Centres LLC were established to function as subsidiaries engaged in production and supply of...

  • DTEK
  • First Ukrainian International Bank
    First Ukrainian International Bank
    The First Ukrainian International Bank was founded on 20 November, 1991, registered with the National Bank of Ukraine on 23 December, 1991. In April 1992 the Bank started its banking operations. In 1995 the Bank began its cooperation with the European Bank for Reconstruction and Development and in...

    , since 16 July 2011 consolidated with Dongorbank
    Dongorbank
    Public Joint Stock Company Dongorbank is headquartered in Donetsk, located in eastern Ukraine.-History:The bank was established with the National Bank of Ukraine as Donetsk Joint Stock Bank Aktseptbank on 6 April 1992....

  • ASKA
    ASKA Insurance Company
    Full name of the company is Aska Ukrainian Insurance Closed Joint Stock Company. It was established on 20 June 1990 as part of ASKO holding , ASKA Ukrainian insurance company has been operating as Ukraine's first private insurer since 1995...

     and ASKA Life insurance companies
  • Fixed-line and mobile communications: Vega Telecommunication Group
    Vega Telecommunication Group
    - History :Vega appeared in Ukrainian telecommunications market on October 15, 2008 through the merging the largest telecommunications groups in Ukraine: Farlep and Optima Telecom, as well as companies Ucomline, CSS, IP Telecom, Matrix, Vilcom and many others....

     and Astelit Mobile Communications
    Astelit Mobile Communications
    Astelit is a mobile operator, a subsidiary of SCM Holdings. Astelit operating in Ukraine under the life:) brand, that was launched at the end of January 2005. The company was the first in Ukraine to offer its customers EDGE-based high-speed data transfer services.At the end of first quarter 2011,...

  • Television
    Television
    Television is a telecommunication medium for transmitting and receiving moving images that can be monochrome or colored, with accompanying sound...

    , Internet
    Internet
    The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide...

     and publishing
    Publishing
    Publishing is the process of production and dissemination of literature or information—the activity of making information available to the general public...

     holdings, including TRK Ukraina (TV channel), Football TV channel
    Football TV Сhannel
    Football TV Сhannel is the first specialized TV channel in Ukraine, dedicated exceptionally to football broadcasts. Football TV Сhannel broadcasts Ukrainian and European club competitions, International matches and other football events.-Coverage:...

    , Donbass regional TV channel, Internet Holding Digital Ventures and Segodnya Multimedia Publishing Group
    Segodnya Multimedia Publishing Group
    - History :Private joint stock company Segodnya Multimedia has been working in publishing business since 1997. In 2007 Web portal Segodnya.ua was launched. Segodnya Publishing Group is a member of UAPP...

  • ESTA Holding
    ESTA Holding
    SCM Estate was established in 2006 for the management of the property assets of the biggest financial and industrial Ukrainian holding - SCM Group, in the beginning of 2008 the company was renamed to ESTA Holding. The company is 100% owned by SCM Group...

  • Mining Machines
    Mining Machines
    The scientific-industrial company "Mining machines" is based in Donetsk, Ukraine and is the leader of Ukrainian market of mining equipment. Mining Machines are represented by six mining machinery engineering factories: OJSC "Druzhkovsky engineering factory", CJSC "Gorlovsky engineering works", OJSC...

  • United Minerals Group
    United Minerals Group
    United Minerals Group is a holding company for clay production assets, established on 28 September 2006 by Ukrainian largest financial and industrial group, SCM...

  • United Coal Company
    United Coal Company
    United Coal Company , a nonunion coal mining company headquartered in Blountville, Tennessee, is a leading producer of high grade metallurgical coals, with operations in Virginia, West Virginia and Kentucky and a subsidiary of the United Management Company, headquartered at Blountville,...

  • Parallel
  • Ukrainskiy Retail
    Ukrainskiy Retail
    Ukrainskiy Retail was established on 13 September 2006. The company is headquartered in Donetsk.Ukrainskyi Retail ensures trade operations with a chain of retail "corner-shop" stores under Brusnytsya brand...

  • Ukrainian Pharmacy Holding
    Ukrainian Pharmacy Holding
    The Ukrainian Pharmacy Holding was founded in 2009; it owns and administrates pharmaceutical chains including:* Zdravitsa Pharmacy – traditional format pharmacies * Dobri Liky - social cost pharmacies...


Ratings

Rinat Akhmetov has been number one in Korrespondent
Korrespondent
Korrespondent is a weekly magazine published in Ukraine in Russian and Ukrainian languages. The printed magazine was established in 2002, but it was preceded by the website korrespondent.net that was established already in 2000....

magazine annual Ukraine’s Top 50 richest people rating
Richest people of Ukraine
Richest people of Ukraine are several ratings compiled and published often by two Ukrainian magazines Focus and Korrespondent. Korrespondent conducts its rating since 2006, while both magazines publish them simultaneously since 2007...

 with the estimated wealth of:
  • 2006 - $ 11,8 billion
  • 2007 - $ 15,6 billion
  • 2008 - $ 31,1 billion
  • 2009 - $ 9,6 billion
  • 2010 - $ 17,8 billion
  • 2011 - $ 25,6 billion


Forbes' The World's Billionaires
Forbes list of billionaires
Forbes list of billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes magazine on March 10, 2011.-Forbes list of billionaires :...

 rating:
  • 2006 - No. 451 with a net-worth of $1.7 bil
  • 2007 - No. 214 with $4.0 bil
  • 2008 - No. 127 with $7.3 bil
  • 2009 - No. 397 with $1.8 bil
  • 2010 - No. 148 with $5.2 bil
  • 2011 - No. 39 with $16 bil.

Actually, this figure is referred to SCM
SCM Holdings
System Capital Management or SCM is a major Ukrainian financial and industrial holding company with headquarters based in Donetsk in the east of the country. The business is controlled by a Ukrainian businessman Rinat Akhmetov who owns 100% of the company shares...

 assets value; growth of the value should not be attributed to coming to power of the friendly political party but to a great extent to the decision of the Company's key shareholder, according to which the profit is not distributed and traditionally invested into further development of SCM

Philanthropy

Akhmetov is deeply involved with charities, philanthropies and humanitarian activities, that are to support Ukrainian citizens.

In 2005 the Foundation for the Development of Ukraine
Foundation for the Development of Ukraine
The Foundation for Development of Ukraine is a non-profit organization, established July 15, 2005 by Rinat Lyeonidovich Akhmetov, a Ukrainian businessman...

 was established, which is, as stated, to be "determined to eliminate the roots of social problems..."in Ukraine. In 2008 it has been reported that within next 5 years the Organization was planning to spend $150 million to fulfill its programs. The Foundation as well provides targeted assistance, e.g., nearly $900,000 was donated to families of victims of gas explosion that tore through an apartment complex in Dnipropetrovsk
Dnipropetrovsk
Dnipropetrovsk or Dnepropetrovsk formerly Yekaterinoslav is Ukraine's third largest city with one million inhabitants. It is located southeast of Ukraine's capital Kiev on the Dnieper River, in the south-central region of the country...

. in October 2007
October 2007
October 2007 is the tenth month of that year. It began on a Monday and 31 days later, ended on a Wednesday.-International holidays:* October 2 – Gandhi Jayanti * October 3 – Last third of Ramadan which includes Laylat al-Qadr...

.

In 2007, Akhmetov founded the Foundation for Effective Governance
Foundation for Effective Governance
The Foundation for Effective Governance ' was established in 2007 by Ukrainian businessman, Rinat Akhmetov. The Foundation’s main objective is to encourage the development of long-term national economic programs for Ukraine, through the formulation of practical policy solutions to the political,...

 to support economic development of Ukraine. On 6 December 2007, FEG was launched in Kiev with a goal to improve the standard of living of each Ukrainian citizen. Among the figures who addressed the opening of the foundation were Nobel Laureate Shimon Peres
Shimon Peres
GCMG is the ninth President of the State of Israel. Peres served twice as the eighth Prime Minister of Israel and once as Interim Prime Minister, and has been a member of 12 cabinets in a political career spanning over 66 years...

 and Peruvian economist Hernando de Soto
Hernando de Soto (economist)
Hernando de Soto is a Peruvian economist known for his work on the informal economy and on the importance of business and property rights. He is the president of the Institute for Liberty and Democracy , located in Lima, Peru.-Childhood and education:Hernando de Soto was born in 1941 in Arequipa,...

.

In 2008 Akhmetov donated $29 million to charity, that made him the No.1 in a list of top ten businessmen who donated for charity in 2008.

In 2010 total charity allocations through Rinat Akhmetov foundations amounted to UAH 155,65 million, making him No. 1 philanthropist in Ukraine.

Starting from 2000, on 19th December, at Saint Nicholas
Saint Nicholas
Saint Nicholas , also called Nikolaos of Myra, was a historic 4th-century saint and Greek Bishop of Myra . Because of the many miracles attributed to his intercession, he is also known as Nikolaos the Wonderworker...

 Day, Rinat Akhmetov together with his close friend Igor Krutoy
Igor Krutoy
Igor Yakovlevich Krutoy , born on July 29, 1954, is a Russian composer of Ukrainian descent, performer, producer and musical promoter.Krutoy was awarded the Lenin Komsomol Prize in 1989...

, a famous Russian
Russians
The Russian people are an East Slavic ethnic group native to Russia, speaking the Russian language and primarily living in Russia and neighboring countries....

 composer
Composer
A composer is a person who creates music, either by musical notation or oral tradition, for interpretation and performance, or through direct manipulation of sonic material through electronic media...

, have been making charity visits to orphanages, special schools in order to support deprived children and to give them presents.
His MP's salary is traditionally transferred to charity

Politics

Akhmetov played an important role in the 2004 presidential election as a sponsor of Viktor Yanukovych
Viktor Yanukovych
Viktor Fedorovych Yanukovych is a Ukrainian politician who has been the President of Ukraine since February 2010.Yanukovych served as the Governor of Donetsk Oblast from 1997 to 2002...

, who was the prime minister at the time.

Akhmetov was elected as a member of the Verkhovna Rada
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...

 (Ukraine's parliament) during the 2006 Ukrainian parliamentary election
Ukrainian parliamentary election, 2006
The Ukrainian parliamentary election took place on March 26, 2006. Election campaigning officially began on July 7, 2005. Between November 26 and December 31, 2005 party lists of candidates were formed....

 for the Party of Regions
Party of Regions
The Party of Regions is an Ukrainian political party created on October 26, 1997 just prior to the 1998 Ukrainian parliamentary elections under the name of Party of Regional Revival of Ukraine. It was reformed later in 2001 when the party united with several others...

. But only appeared in the Verkhovna Rada building
Verkhovna Rada building
The Verkhovna Rada building is located in the center of the capital city of Ukraine Kiev, in the Pechersk Raion. It is the place where the Ukrainian parliament meets for all regular and ceremonial sessions...

 during his inauguration
Inauguration
An inauguration is a formal ceremony to mark the beginning of a leader's term of office. An example is the ceremony in which the President of the United States officially takes the oath of office....

. Nevertheless his vote was registered. Voting for other deputies is prohibited by law. However, Leader of the party's faction in the Verkhovna Rada
Verkhovna Rada
The Verkhovna Rada of Ukraine is Ukraine's parliament. The Verkhovna Rada is a unicameral parliament composed of 450 deputies, which is presided over by a chairman...

 Oleksander Yefremov has mentioned that Rinat Akhmetov is still providing a "substantative support" to the fraction by means of "functioning expert groups he established that are counselling on draft laws".

FC Shakhtar

On 11 October 1996 Rinat Akhmetov, who had been investing heavily both in players and in training complexes for FC Shakhtar, was appointed club president. Under command of Rinat Akhmetov, FC Shakhtar became Premier League Champions in 2002, 2005, 2006, 2008, 2010, 2011, won Domestic Cup
Ukrainian Cup
The Ukrainian Cup is a national knockout cup competition in Ukrainian football, run by the Football Federation of Ukraine. The winner of the competition is awarded a qualification to the UEFA Cup , under special circumstances the finalist also may enter...

 in 1997, 2001, 2002, 2004, 2008, 2011, Super-Cup in 2005, 2008 and 2010, and UEFA Cup
UEFA Cup
The UEFA Europa League is an annual association football cup competition organised by UEFA since 1971 for eligible European football clubs. It is the second most prestigious European club football contest after the UEFA Champions League...

 in 2009.

In 1999 Shakhtar Footbal Academy for youth was open.

In 2009 Donbass Arena staduim was built in Donetsk at Rinat Akhmetov initiative. It is the first stadium in Eastern Europe
Eastern Europe
Eastern Europe is the eastern part of Europe. The term has widely disparate geopolitical, geographical, cultural and socioeconomic readings, which makes it highly context-dependent and even volatile, and there are "almost as many definitions of Eastern Europe as there are scholars of the region"...

 that was designed and built to the elite UEFA
UEFA
The Union of European Football Associations , almost always referred to by its acronym UEFA is the administrative and controlling body for European association football, futsal and beach soccer....

  standards, its seating capacity is over 50,000.00.

Awards

  • Order of Prince Yaroslav the Wise
    Order of Prince Yaroslav the Wise
    The Order of Prince Yaroslav the Wise is an award of Ukraine. It is awarded for distinguished services to the state and people of the Ukrainian nation. The Order was instituted on August 23, 1995 by the Ukrainian President, Leonid Kuchma....

     of the V class (2010)
  • Full Chevalier of Order of Merit
    Order of Merit (Ukraine)
    The Order of Merit first, second or third class, is the Ukrainian award, given to individuals for outstanding achievements in economics, science, culture, military or political spheres of activity...

    : I class in 2006, II class in 2004, III class in 2002
  • Honoured Worker of fitness and sports of Ukraine (1999)
  • "Miner's Glory" medal of I—III classes
  • golden medal of Ukrainian Premier League
    Ukrainian Premier League
    The Ukrainian Premier League is the highest division of Ukrainian annual football championship. As the Supreme League it was founded in 1991 after the fold of the Soviet Union's Vysshaya Liga. In 2008 it was reformed into a more autonomous entity of the Football Federation of Ukraine and changed...

     (in 2002, 2005, 2006, 2008, 2010, 2011)
  • Award from President of Pakistan
    President of Pakistan
    The President of Pakistan is the head of state, as well as figurehead, of the Islamic Republic of Pakistan. Recently passed an XVIII Amendment , Pakistan has a parliamentary democratic system of government. According to the Constitution, the President is chosen by the Electoral College to serve a...

     Sitara-e-Pakistan (2007) for merits to Pakistan
  • Donetsk Citizens Recognition Prize in 2008 (est. by Donetsk City Council), in the nomination "Caring for the future"
  • Honorary citizen of Donetsk (2006)

Controversies



In 2004 Akhmetov and Viktor Pinchuk
Viktor Pinchuk
Victor Pinchuk is a Jewish-Ukrainian businessman and philanthropist. Forbes ranked him # 336 on the list of the wealthiest people in the world, with a fortune of $3.3 billion...

 (the son-in-law of then-President Leonid Kuchma
Leonid Kuchma
Leonid Danylovych Kuchma was the second President of independent Ukraine from 19 July 1994, to 23 January 2005. Kuchma took office after winning the 1994 presidential election against his rival, incumbent Leonid Kravchuk...

) acquired the steelfactory Kryvorizhstal
Kryvorizhstal
Kryvorizhstal is Ukraine's largest integrated steel company located in the Ukrainian city of Kryvyi Rih.Bought in 2005 by Mittal Steel, the company is one of the most important businesses in Ukraine and a globally important steel producer. It is the largest steel manufacturer in Ukraine and...

 for about $800 million from the state in a 2004 tender despite much higher bids made by foreign companies. Later, in 2005, the first Tymoshenko Government
First Tymoshenko Government
The first Tymoshenko Government was appointed on February 4, 2005 by 373 Parliamentarians of the Verkhovna Rada . It was supported opposition factions' Parliamentarians, including three Communists, 18 Social Democratic Party of Ukraine members, 46 Regions faction members.September 8, 2005...

 reversed this sale, and held a nationally-televised repeat auction that netted a record-breaking $4.8 billion.

Rumors about Rinat Akhmetov' criminal ties are as widespread as disputable. Some journalists and researchers have been speculating on allegedly criminal past of Rinat Akhmetov.

Serhiy Kuzin, author of Donetsk Mafia: Anthology, a book published in 2006, claims Akhmetov held the role of a mafia thug in his early years. The book was further regarded as copy-paste compilation of Intenet publications and declared the plagiarism in 2008 by Donetsk Region
Donetsk Oblast
Donetsk Oblast is an oblast of eastern Ukraine. Its administrative center is Donetsk. Historically, the province is an important part of the Donbas region...

 Court of Appeal, its authors were ordered to pay indemnities
Indemnity
An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnitor may or may not be responsible for the loss suffered by the indemnitee...

 for copyright violation. Kuzin's co-author Borys Penchuk, Head of Anticorruption Fund was under official accusation of Donetsk Region Prosecution Office for deliberately misleading reporting of committing offense and extortion and was sentenced to 6 years of imprisonment.


In the 1980s, Akhmetov acted as an assistant to Akhat Bragin. By the early 1990s, Akhmetov began acquiring property in Donetsk by means of extortion with the assistance of Vladimir Malyshev, Lieutenant-General, The Head of Ministry of Internal Affairs Department in Donetsk Region. Malyshev would later become chief of security for Akhmetov’s SCM.

In October 1995, Akhat Bragin, former mentor and president of Shakhtar Donetsk football club, was killed in a mysterious bombing at the team's stadium. Bragin and his associates had ongoing conflict with mob groups and rival businessmen, and had survived several attempts on his life. Bragin, who was alleged to have a leadership role in the Ukrainian mafia, was succeeded by Akhmetov as team president following his death. Following the assassinations, Akhmetov is thought to have “inherited a vast financial empire from Bragin”. Akhmetov answered these allegations during his interview to a journalist Christina Demkovich in 2010, denying he has ever inherited any money: "I have earned my first million by trading coal and coke, and spent the money on assets that no one wanted to buy. It was a risk but it was worth it".

In 1999, an official Ukrainian Ministry of Internal Affairs report identified Akhmetov as a leader of an organized crime syndicate. The report tied the group to money laundering, financial fraud, and the control of numerous large and fictitious companies.. In June 2005, Serhiy Kornich, then head of the Interior Ministry's economic crimes department, stated publicly that Akhmetov was "the head of [an] organized crime group." A month later, in July 2005, Kornich denied his words, having noted that only Minister of the Interior or the Prosecutor-General shall be entitled to make such statements.

After the 2004 Ukrainian presidential elections and the ensuing Orange Revolution
Orange Revolution
The Orange Revolution was a series of protests and political events that took place in Ukraine from late November 2004 to January 2005, in the immediate aftermath of the run-off vote of the 2004 Ukrainian presidential election which was claimed to be marred by massive corruption, voter...

, according to political journal's The Nation and the Journal of Democracy, Akhmetov was investigated on both murder charges and his alleged role in organized crime in the Donetsk region . To avoid the investigation he was prompted to flee the country to Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...

. The following year, Borys Kolesnikov
Borys Kolesnikov
Borys Viktorovych Kolesnikov is the Vice Prime Minister of Ukraine - Minister of Infrastructure of Ukraine, Ukrainian politician, statesman, responsible for preparation and hosting European Football Championship in 2012 , philanthropist....

, a friend and associate who had been tied to Akhmetov in links to organized crime since the 1980s, was arrested on charges of extortion and conspiracy to assassinate a rival Donetsk businessman. Charges against Akhmetov and Kolesnikov were dropped in 2006 amid a significant rise in political power by the former, ending Akhmetov's exile.

As per Akhmetov's lawyer Mark MacDougall, "Akhmetov has done a lot of work to protect his good name from false accusations, which might hurt the reputation of his family and business. As the result of it, many publications in Ukraine and other European countries had published retractions and apologies… [and] admitted that their claims are false. We think that these facts speak for themselves”.

In 2007, the Kyiv Post
Kyiv Post
The Kyiv Post is Ukraine's leading English-language newspaper.-History:The Kyiv Post was founded in September 1995 by an American, Jed Sunden. The paper covers politics, business and entertainment. The staff is a team of Western and Ukrainian journalists. Historically, the editorial policy has...

, the primary English language
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

 daily newspaper in Ukraine published an article relating to Mr. Akhmetov’s business transactions. The Kyiv Post published an apology stating that “on closer examination, we concluded these allegations relating to Mr. Akhmetov were untrue and have no basis in fact.”

In 2007, the German language
German language
German is a West Germanic language, related to and classified alongside English and Dutch. With an estimated 90 – 98 million native speakers, German is one of the world's major languages and is the most widely-spoken first language in the European Union....

 Swiss newspaper Neue Zürcher Zeitung
Neue Zürcher Zeitung
The Neue Zürcher Zeitung is a major German language Swiss daily newspaper based in Zurich.One of the oldest newspapers still published, it originally appeared as Zürcher Zeitung, edited by Salomon Gessner, from January 12, 1780, and was renamed to Neue Zürcher Zeitung in 1821...

 (“NZZ”) retracted defamatory statements from published earlier article regarding Mr. Akhmetov’s early business career in the 1990s, noting that “there is no connection between Akhmetov … and organized crime in Ukraine” and “[t]he economic success of Akhmetov is not based by any means on criminally acquired starting capital.”

In 2008, a judgment was obtained from the High Court of Justice
High Court of Justice
The High Court of Justice is, together with the Court of Appeal and the Crown Court, one of the Senior Courts of England and Wales...

 in London after Obozrevatel, a Ukrainian language Internet publication refused to retract false and libelous statements alleging that Mr. Akhmetov was connected to criminal activity and violence. Following the court judgment Obozrevatel issued an official apology stating: “The editorial hereby admits that there was unchecked and false information about Rinat Akhmetov present in the … articles … We hereby give our apologies to Rinat Akhmetov for the problems resulted from the above-mentioned publications.”

An Internet website www.golocalprov.com (“GoLocalProv”) based in Providence, Rhode Island
Providence, Rhode Island
Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...

, published in 2010 allegations re Rinat Akhmetov criminal activities. Subsequently, the Providence Journal engaged in a detailed review of the allegations on GoLocalProv’s site and published an investigative piece that fully discredited those allegations and the sources on which they were based. The Providence Journal concluded that “key elements of the [GoLocalProv] story are false or unproven” and that the story presented “suspicions, suggestions, innuendo, and conspiracy theories” as fact

In 2010 the French Le Figaro
Le Figaro
Le Figaro is a French daily newspaper founded in 1826 and published in Paris. It is one of three French newspapers of record, with Le Monde and Libération, and is the oldest newspaper in France. It is also the second-largest national newspaper in France after Le Parisien and before Le Monde, but...

 issued a retraction of previously published false allegations regarding Rinat Akhmetov and apologized to Mr. Akhmetov for the untrue information.

See also

  • Business oligarch
    Business oligarch
    Business oligarch is a near-synonym of the term "business magnate", borrowed by the English speaking and western media from post-Soviet parlance to describe the huge, fast-acquired wealth of some businessmen of the former Soviet republics during the privatization in Russia and other post-Soviet...

  • Ukrainian oligarchs
    Ukrainian oligarchs
    The Ukrainian oligarchs are a group of Business oligarch that quickly appeared on the economic and political scene of Ukraine after its independence in 1991, just like it happened in neighboring post-Soviet state Russia....

  • History of post-Soviet Russia: The "loans for shares" scheme and the rise of the "oligarchs"
  • Viktor Pinchuk
    Viktor Pinchuk
    Victor Pinchuk is a Jewish-Ukrainian businessman and philanthropist. Forbes ranked him # 336 on the list of the wealthiest people in the world, with a fortune of $3.3 billion...

  • Leonid Kuchma
    Leonid Kuchma
    Leonid Danylovych Kuchma was the second President of independent Ukraine from 19 July 1994, to 23 January 2005. Kuchma took office after winning the 1994 presidential election against his rival, incumbent Leonid Kravchuk...

  • FC Shakhtar Donetsk
    FC Shakhtar Donetsk
    FC Shakhtar Donetsk is a Ukrainian professional football club from the city of Donetsk. Shakhtar has appeared in several European competitions and currently is often a participant of the UEFA Champions League. The club became the first Ukrainian club to win the UEFA Cup in 2009, the last year...

  • Donbass Arena

External links

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