Ukrainian businessman and oligarch Igor Kolomoisky is no longer a dollar millionaire.

Ukrainian oligarch Igor Kolomoisky is no longer a dollar millionaire. Just few days before the Russian invasion, the business of Igor Kolomoisky and the informal group “Privat” were in their best shape in the past seven years.

Forbes Ukraine then estimated the businessman’s wealth at $2 billion, the highest value since 2014.

As of the beginning of September 2023, when Kolomoisky faced two suspicions within a week and is currently in detention, Forbes estimates his fortune to be less than 2.5 times that, at $835 million.

Indications that the businessman was no longer a billionaire were already apparent by the end of 2022 ($850 million), as calculated by Forbes through a simplified procedure. The current assessment takes into account the financial performance of Kolomoisky’s businesses for the previous year.

During the full-scale war, the businessman likely lost his Ukrainian citizenship and one of his key assets, the largest oil producer in Ukraine, “Ukrnafta.” In the fall of 2022, the state forcibly took over this company, as well as “Ukrtatnafta.” Kolomoisky’s media company, “1+1 Group,” was evaluated by Forbes based on the book value of assets (licenses, equipment, content library) at $69 million.

The energy companies within the “Privat” group suffered less from Russian shelling than one might have assumed last autumn. Additionally, the businessman still retains significant amounts of liquid assets (cash and more). However, this is perhaps the most intricate part of Kolomoisky’s already complex business empire, along with his partner Gennadiy Bogolyubov.