Interviews and articles
Rating of the "Korrespodent" magazine. The wealthiest men in Ukraine. Victor Pinchuk
Imagine you are Victor Pinchuk. You are a leader of a successful political bloc. Your father-in-law is the President of the State. All State quotas on export of pipes are given to your enterprises. You are managing the biggest in Europe Ferroalloy Plant. They arrange a tendering on acquisition of the largest metallurgy plant in the country and you purchase it at the price of scrap metal. And one not very nice day they take it away from you. What are you going to do? Aha! Pinchuk was not taken aback, though.
Furthermore, the Dniepropetrovsk billionaire has managed to double his capital for the last year. Accordingly, compared to the last year ranking made by Korrespondent, Pinchuk outrode his closest pursuer, Igor Kolomoiskiy, (No. 3) by more than $ 2 bln.
What wonder? The owner of Interpipe Corporation is a past-master in turning wicked circumstances into killing profits. Here's the latest instance. Last year Pinchuk was trying to sell his Ukrsotsbank to Italians at a fabulous price - $ 1, 3 bln. However, one man's [Pinchuk's] meat is another man's [Kolomoiskiy's] poison. That is why the latter blocked the transaction through the minority shareholders of Ukrsotsbank. As soon as the way to the Italian money was cleared after multiple lawsuits, the National Bank hit the ground running and defeated the Agreement with Intesa SanPaolo. While the opponents were putting spokes in Pinchuk's wheels, the price of Ukrsotsbank went up to $ 2, 46 bln. It is not improbable that this financial institution will soon be sold at this price or even higher.
The 46 year-old businessman is also well-known not only for making big money but for spending it. While his Ukrainian millionaire mates are throwing their dollars into the national football, Pinchuk is working hard on humanitarian projects. Wiping out his political image from the memory of Ukrainians, the billionaire is putting on his new public face a make-up of a contemporary art devotee. "He is the first person of all Ukrainian oligarchs who has become known in Europe not only as a businessman but also as a political figure and patron of arts", - said Igor Burakovskiy, Director of the Institute for Economic Studies and Political Consultations.
As for patronage of art, opening of PinchukArtCenter – the largest private art gallery in Ukraine- in the center of Kyiv last autumn is one of the examples. Moreover, Pinchuk convenes annual round-table meeting of the world political elite. In winters, at the International Forum in Davos (Switzerland). In summers at the YES conference (Yalta European Strategy). The regular participants are: Poland's ex-president, Alexander Kwasniewski; George Soros; Jean Lemière, the president of EBRD.
At dinner-parties with ample grub, the guests usually pour forth recommendations on how we should attach Ukraine to European Union. One wouldn't usually hear anything new there. At the same time, both events are extremely prestigious. At the latest forum in Davos Pinchuk was treating the head of the Cabinet, Victor Yanukovich, to a dinner, and the latter, by way of gratuity, was feeding the Europeans with promises on Ukraine's inevitable accession to EU.
Covering one of such informal summits, the Korrespondent asked Pinchuk, whether he considered such events fruitful enough. His answer explains a lot: "Intelligent and right people have gathered together in here". Here's one more talent, not fully discovered though, of Pinchuk the billionaire consisting in gathering "right" people into one deck.
