Ukraine’s richest man buys most expensive apartment in history – Bloomberg

Oligarch Rinat Akhmetov’s five‑floor Monaco waterfront penthouse reportedly cost more than half a billion dollars and includes 21 rooms and a private pool

Ukrainian oligarch Rinat Akhmetov, the country’s wealthiest man, has reportedly broken the world record for the most expensive residential real estate transaction in history, according to a Bloomberg Businessweek investigation. 

Although the deal has not been publicly disclosed, the outlet has cited private documents that suggest Akhmetov purchased a sprawling five‑floor penthouse in Monaco for a staggering $554 million. The 21‑room, 2,500 square meter waterfront property, which features a private swimming pool, a jacuzzi and at least eight parking spaces, is located in the “Le Renzo” building in the principality’s exclusive, newly built Mareterra district. The sale was reportedly finalized in 2024.

Akhmetov’s holding company, System Capital Management (SCM), has confirmed it had made an investment in the “Le Renzo” project but declined to disclose details about the property or its cost.

The reported price shatters previous records, surpassing the sale of developer Nick Candy’s Chelsea mansion for more than $350 million and the $240 million New York penthouse bought by hedge fund manager Ken Griffin.

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The Donetsk-born tycoon, whose fortune exceeds $7 billion according to the Bloomberg Billionaires Index, built his wealth through SCM, Ukraine’s largest industrial conglomerate, with holdings in metallurgy, mining, energy and real estate.

Akhmetov’s acquisition in Monaco appears to have come shortly before the escalation of the Ukraine conflict in February 2022, which has inflicted severe damage on his business empire. Some energy facilities operated by his DTEK group, Ukraine’s largest private electricity provider, have been destroyed, and he has lost some of his major assets, including his entire media empire, which he was forced to hand over to the Ukrainian state. 

Nevertheless, he has remained one of Kiev’s most prominent backers. In December 2024, Russia designated the oligarch as an extremist, accusing him of financing the Ukrainian military and terrorist groups such as the neo-Nazi Azov regiment through his business network.