2023 Top 5 Richest People in Malta — In the heart of the Mediterranean lies the picturesque archipelago of Malta, a nation with a rich history, vibrant culture, and a growing economy. While the country may be small in size, it has not been devoid of individuals who have managed to amass substantial wealth through their entrepreneurial endeavors, investments, and business acumen. In this article, we delve into the lives and successes of Malta’s top five richest people, uncovering their remarkable journeys from humble beginnings to the pinnacles of prosperity.
Malta’s economic landscape has witnessed notable growth over the years, spurred by a strategic location, business-friendly policies, and a burgeoning tech sector. These factors have contributed to the rise of several individuals who have not only achieved remarkable financial success but have also played pivotal roles in shaping the nation’s economic trajectory. From innovative technology ventures to real estate empires, the stories of Malta’s wealthiest individuals showcase a diverse range of industries that have fueled their fortunes.
Join us as we peel back the layers of each entrepreneur’s life, shedding light on the companies they’ve founded, the industries they’ve disrupted, and the impact they’ve made on Malta’s business landscape. From shipping magnates to technology trailblazers, these individuals have not only accumulated immense wealth but have also contributed to the growth of their communities through philanthropy, job creation, and investment in local initiatives.
Whether it’s their exceptional leadership, groundbreaking innovations, or unwavering commitment to success, the stories of Malta’s top five richest people offer an intriguing glimpse into the fusion of ambition and determination that have elevated them to the heights of financial achievement. So, without further ado, let’s embark on a journey through the lives of these remarkable individuals who have left an indelible mark on Malta’s economic tapestry.
Here are the 2023 Top 5 Richest People in Malta
The 2023 top 5 richest people in Malta are made of billionaires. These are well-known businessmen. They are:
1. Liu Zhongtian-Net Worth $ 1.8 billion
Liu Zhongtianis a Chinese-Maltese billionaire businessman, and the founder and chairman of China Zhongwang Holdings Limited (HKEx: 01333), the world’s second largest industrial aluminum extrusion company.
Liu Zhongtian established China Zhongwang Holdings, a company based in Hong Kong that specializes in the production of aluminum goods. In November 2017, Liu stepped down from his position as the chairman of China Zhongwang, citing personal health issues as the reason for his resignation. In the same month and year, Zhongwang USA, primarily under Wang’s ownership, terminated a deal to acquire the aluminum processing company Aleris. This decision was attributed to uncertainties surrounding U.S. regulatory conditions.
Addressing allegations made in September 2016, Liu refuted claims suggesting that his company was evading U.S. tariffs by stockpiling approximately 6% of the world’s aluminum in Mexico. This response aimed to counter concerns about the company’s trade practices and emphasize their commitment to ethical trading, particularly in the context of evolving global trade dynamics.
2. Boris Mints-Net Worth $ 1.3 billion
Boris Iosifovich Mints (born 24 July 1958) is a Russian-Maltese billionaire businessman and philanthropist. Boris Mints possesses ownership of O1 Group, an investment holding company situated in Cyprus. This entity oversees pension funds and real estate assets located in Russia. Notably, in 2014, he divested a 12% interest in O1 Group’s subsidiary, O1 Properties, to Goldman Sachs International.
The generated funds were subsequently allocated towards the acquisition of various Russian pension funds and a portion of shares in CA Immobilien Anlagen, an Austrian real estate investment venture, which he has subsequently liquidated. Mints’ academic background is in physics. During the 1990s, he was engaged in roles at the Committee for Managing State Property and Administration of the President of Russia.
3. Arkady Volozh-Net worth $ 1.1 billion
Arkady Yurievich Volozh (born 11 February 1964) is a Russian-Maltese billionaire technology entrepreneur, investor, computer scientist, and philanthropist, best known as the founder and CEO of Yandex.
Arkady Volozh serves as the primary originator and predominant individual stakeholder in Yandex, a publicly traded search engine renowned as Russia’s equivalent to Google. Alongside Ilya Segalovich, who sadly passed away due to cancer in 2013, he co-established this enterprise.
Volozh initiated his involvement in search-related endeavors as early as 1989. This endeavor laid the foundation for the establishment of Arkadia Company in 1990, an entity dedicated to the creation of search software. His early accomplishments encompass the design of electronic search mechanisms tailored for patent exploration, classical Russian literature, and the Bible.
In a noteworthy development, Arkady Volozh resigned from his roles as CEO and executive director of Yandex following personal sanctions imposed by the European Union in June 2022. This event marked a significant juncture in his professional trajectory.
4. Christopher Chandler-Net worth $ 1 billion
Christopher Chandler (born 1960) is a New Zealand-born, Maltese billionaire and founder of Dubai-based investment company Legatum. According to The Guardian, he has a net worth of $1.7 billion.
Following a split from his brother Richard in 2006, Christopher Chandler established Legatum Capital in Dubai. This move marked his independent pursuit of investment ventures. Legatum Capital, a private investment firm with a substantial financial presence, directs its funds into enterprises situated in developing nations and global capital markets alike.
Hailing from North Island, New Zealand, Christopher Chandler, born to a beekeeper, embarked on his investment journey alongside his brother. They initially utilized proceeds from the sale of their parents’ department store to engage in Hong Kong real estate investments. Subsequently, the Chandler siblings established Sovereign Global, an investment firm based in Monaco, with the primary objective of facilitating transitions in industries across Russia, Latin America, and Eastern Europe.
In April 2012, a notable development occurred as Legatum Capital procured its own property within the Dubai International Finance Centre. This event served as a significant step for the firm’s growth and establishment in the financial landscape.
5. Maxim Shubarev – Net Worth $800 million
Maxim Shubarev, born on March 10, 1962, holds the influential position of Chairman at Setl Group. He is married to Nadejda Shubarev and takes pride in being a devoted father to three children, consisting of a daughter and two sons. The roots of Setl Group trace back to its establishment as the St. Petersburg Real Estate Financial construction company. Over time, it has ascended to a prominent role in real estate construction and development within the broader St. Petersburg vicinity. With Shubarev at the helm, the group has played a pivotal role in shaping the urban landscape of the region.
Shubarev’s proficiency extends beyond his association with Setl Group. He also fulfills the role of Chairman for the Committee on housing and civil engineering at NOSTROY. NOSTROY, which stands for Russia’s National Association of Construction Companies, is dedicated to fostering collaboration and advancement within the construction industry.