Richest Men In Cyprus 2024 Millionaires & Billionaires List

Cyprus, a beautiful island in the eastern Mediterranean, is well-known for its rich history, breathtaking landscapes, and flourishing economy. Cyprus has attracted numerous investors and entrepreneurs over the years, who have contributed to its economic expansion. Cyprus’ thriving economy and business-friendly environment have attracted a large number of prosperous entrepreneurs and investors who have accumulated substantial wealth. The top ten wealthiest individuals in Cyprus in 2024 will come from a wide range of industries, including shipping, aviation, construction, real estate, tourism, pharmaceuticals, and finance.
This article will examine the wealthiest individuals in Cyprus in 2024, highlighting their accomplishments, wealth sources, and economic impact.

List Of Billionaires And Millionaires In Cyprus 2024

1. John Fredriksen -$13.7 Billion

Fredriksen, who was born on 10 May 1944 and resides in London, is a shipping billionaire tycoon.

In 2006, he was among the first foreign investors to obtain a Cypriot passport as a result of his investments. He gave up his Norwegian citizenship in favor of Cypriot citizenship. Fredriksen, aged 78, leads the Cyprus Rich List with an estimated net worth of $13.7 billion which makes him the richest man in Cyprus 2024. Following the shareholders’ approval of the CEO and founder’s decision to relocate the company’s headquarters to Limassol, he announced Frontline’s relocation to Cyprus. The Bermuda-based, New York Stock Exchange-listed, major ship-owning corporation had initiated the transfer of its operations to Cyprus. From his London mansion, Fredriksen controls Frontline and Golar LNG through his investment firms Hemen Holdings and Meisha. Golar LNG, the parent company of Golar Energy, submitted an unsuccessful proposal for Cyprus’ LNG supply contract, which was ultimately awarded to public utility EAC.

2. Vinod Adani -$12.5 Billion

Vinod Adani, born in India and based in Dubai, is the 184th richest individual in the world, with an estimated net worth of $12.5 billion. Vinod Adani is the older sibling of Gautam Adani, who was once the world’s third-wealthiest individual. Over 200 ports, airports, power stations, cement plants, mines, defense factories, renewable energy farms, electrical facilities, and gas distribution networks are owned by the Adani Group in 23 states and territories, encompassing 87% of India’s land area. Vinod Adani, who resides abroad, owns stakes in numerous group companies through a number of overseas investment firms.

After acquiring the Indian assets of Swiss company Holcim for $10.5 billion through Vinod’s investment entities, Adani Group became India’s second largest cement producer in 2022. The 74-year-old received Cypriot citizenship as a result of the investment program. According to the Hurun India Rich List from late 2022, Adani was the richest non-resident Indian and the sixth-wealthiest Indian overall.

In 2021, India Today reported that he was a Panama Papers target. Panama Papers was a massive leak of over 11.5 million financial and legal documents that exposed a system that facilitates crime, corruption, and wrongdoing and is concealed by secret offshore entities.

3. Yakir Gabay -$3.4 Billion

Yakir Gabay, a Cypriot Israeli industrialist, owns 15% of the Frankfurt-listed German real estate company Aroundtown SA, where he serves as vice chairman. Aroundtown’s portfolio of European commercial real estate is worth over $30 billion.

Additionally, he possesses a 40 percent stake in Grand City Properties, which owns approximately 65,000 apartments in Germany and London. Gabay was formerly the CEO of one of Israel’s main banks, Bank Leumi. Before entering the private sector, he worked in the Prospectus Division of the Israel Securities Commission. He obtained a Cypriot passport through the citizenship-by-investment program.

4. Sergey Dmitriev -$2.5 Billion

Another naturalized investor, Russian-born Sergey Dmitriev, ranks 1217th on Forbes’ list of the richest people with an estimated wealth of $2.5 billion. In 2000, he co-founded the software company JetBrains. More than ten million software developers and project administrators use JetBrains tools worldwide. Dmitriev is the president of the company headquartered in Prague. In 2023, he renounced his Russian citizenship. He is a Cypriot citizen and resides in Cyprus.

5. Valentin Kipyatkov -$1.8 Billion

46-year-old Valentin Kipyatkov was Dmitriev’s co-founder of JetBrains. Kipyatkov, who was also born in Russia, is the 1674th richest individual in the world, with an estimated net worth of $1.8 billion. Like his companion, he has renounced his Russian citizenship and obtained a Cypriot passport. In response to Russia’s invasion of Ukraine, JetBrain has ceased all operations in Russia.

6. Polys Haji-Ioannou -$1.1 Billion

The Cypriot-born industrialist occupies the 2405th position on Forbes’ list of the world’s richest people, with an estimated net worth of $1.1 billion. 63-year-old Polys Haji-Ioannou is the son of the late Cypriot shipping magnate Loucas Haji-Ioannou, who once possessed the largest private tanker fleet in the world (he died in 2008). Stelios, his younger sibling, founded the low-cost airline easyJet, from which he derives the majority of his wealth. With his 15-tanker fleet, Polys upholds the family’s maritime tradition. He has also made substantial investments in residential and commercial real estate, especially in Cyprus, Greece, Monaco, and London.

7. Stelios Haji-Ioannou -$1.1 Billion

The Cypriot industrialist ranks 2,540th on the list of the world’s wealthiest people, with an estimated wealth of close to $1.1 billion. Also, Stelios Haji-Ioannou, the son of a Greek Cypriot shipping magnate, founded the low-cost airline easyJet in 1995 after quitting his father’s company. Stelios is estimated to hold a 4% stake in the airline, while his siblings Clelia and Polys also hold substantial stakes. Through his private company, easyGroup, he retains ownership of the easy trademark. Stelios has licensed the easy name through easyGroup to businesses such as easyHotel, easyCar, and easyCoffee.

8. Clelia Hadji-Ioannou -$1 Billion

The estimated $1 billion fortune of Clelia Hadji-Ioannou, sister of Polys and Stelios Hadji-Ioannou, places her on the list of the World’s Billionaires. Her stake in the discount airline easyJet, founded by her brother Stelios, has made her a billionaire. Clelia, who is 52 years old, possesses approximately $200 million worth of real estate in Europe, including properties in London, Monaco, and Greece. She also owns a gallery outside of Athens that showcases the works of Picasso, Warhol, and Dali.