News Local Six wealthy Cypriots own assets equal to Cyprus' GDP

Six wealthy Cypriots own assets equal to Cyprus’ GDP

Although Cyprus is a small country, according to a study conducted by UBS and PwC titled “The Billionaire Effect”, six Cypriot citizen are billionaires with assets reaching €19.9 billion at the end of 2018. In 2017 assets of Cypriot tycoons were worth €17.6.

Ali Janoudi, UBS Global Wealth’s head for Central, Eastern Europe and the Middle East, says that two-thirds of billionaires in emerging economies reside in Saudi Arabia and the United Arab Emirates, but also in Cyprus and Poland.

The richest man holding a Cypriot passport is oil and shipping tycoon John Fredriksen, with an estimated net worth of €7 bn. The 73-year-old Norwegian investor is ranked 228th on Forbes.

Suat Gunsel, believed to be the richest man among Turkish Cypriots, also made the list reaching 1,284th place with a net worth of €1.9 bn. Gunsel, aged 65, owns Near East University in the northern part of Cyprus (recognised only by Turkey).

The Haji-Ioannou siblings remain on the list, with 51-year-old Sir Stelios holding his position at number 1,477 with a net worth of €1.6 bn. The fortune comes largely from easyJet, a private airline company based in London. His brother Polys, 58, is also on the list ranked 1650th with a net worth of €1.4 bn, while sister 47-year-old Clelia is worth €1.3 bn ranked at 1,756th place.

Surendra Hiranandani, also ranked 1756th with net worth €1.3 bn, completes the list of Cypriot billionaires on Forbes. The 63-year-old has Indian origins, being the brother of Mumbai-based billionaire, Indian property tycoon Niranjan Hiranandani, ranked 1561 with a net worth of €1.5 bn.

Sources: Philnews/Business Insider

Top Stories

Man carrying drugs on drone arrested

  A twenty seven year old man has been arrested in connection with a case of carrying cannabis on a drone, back in January 12,...

Twenty covid patients at referral hospital

  The number of patients at the Famagusta General Hospital, the referral institution for coronavirus, remains stable at 20. Four are in the Increased care unit,...

76 thousand covid vaccinations across Cyprus

  Seventy six thousand people had been vaccinated in Cyprus as of yesterday, with 53 and a half thousand having received the first dose of...

More than 10 thousand covid checks in 24 hours

  Covid violation checks across the country have intensified with almost ten and a half conducted in just the past 24 hours across the country. 94...

14 sexual abuse or harassment complaints, more expected

  Complaints to police over indecent assaults or sexual abuse, have reached 14, including two male actors naming directors from Greece who have worked for...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...