World Economy

Ukraine Leader Wealthier

Ukraine Leader Wealthier Ukraine Leader Wealthier

 The value of Ukrainian President Petro Poroshenko’s assets soared despite economic crisis and conflict while those of other tycoons shrank in an annual wealth list published Friday, AFP reported. The 50-year-old western-backed president’s business empire ranges from chocolates to media holdings still under his control. Friday’s independent Novoye Vremya weekly showed the Ukrainian leader—often criticized for failing to curb the political powers of fellow tycoons—ranked as the country’s sixth-richest man. His assets reportedly rose by 20% to $979 million, only just supporting his claim he is no longer a billionaire. Poroshenko retains control of a top TV channel and has failed to follow through on his promise to sell off his Roshen chocolate empire due to a lack of foreign interest and a dearth of rich-enough investors in Ukraine itself. “Poroshenko’s (wealth) rose thanks to the rise in value of his candy business that—even in the midst of the deepest of crises—is developing quickly, building new capacities and conquering new markets,” the weekly said.