Rinat Akhmetov

Rinat Akhmetov
Akhmetov in 2008
Rinat Akhmetov
Born	21 9, 1966
Birthplace	Donetsk, Ukrainian SSR, Soviet Union
Nationality	Ukrainian
Occupation	Businessman
Known for	Founder and president of System Capital Management (SCM); Owner of FC Shakhtar Donetsk
Spouse(s)	Lilia Nikolayevna Smirnova
Children	2

Rinat Leonidovych Akhmetov (born 21 September 1966) is a Ukrainian billionaire businessman, the founder and president of the international investment group System Capital Management (SCM), and the wealthiest individual in Ukraine. Through SCM and its subsidiary enterprises, Akhmetov controls a vast portfolio of assets spanning steel, mining, energy, telecommunications, banking, and media across Ukraine and beyond. He is also the owner and president of FC Shakhtar Donetsk, one of the most successful football clubs in Ukrainian history. Akhmetov served as a member of the Verkhovna Rada (Ukraine's parliament) for the Party of Regions from 2006 to 2012, a period he has since publicly characterized as a mistake. Since 2014, his philanthropic arm, the Rinat Akhmetov Foundation, has delivered more than 13 million food kits to residents of Ukraine, with humanitarian aid reaching over 18 million people. As of October 2025, SCM businesses, the Rinat Akhmetov Foundation, and Shakhtar Football Club have collectively provided approximately $350 million (UAH 12.8 billion) to support Ukraine, its military, and civilians during the ongoing conflict with Russia. As of July 2025, Akhmetov was listed as the 390th richest person in the world, with an estimated net worth of US$7.9 billion.

Early Life

Rinat Leonidovych Akhmetov was born on 21 September 1966 in Donetsk, in the Ukrainian Soviet Socialist Republic of the Soviet Union. Donetsk, an industrial city in the eastern part of Ukraine, was a major center of coal mining and heavy industry during the Soviet era. Akhmetov grew up in this industrial environment, which would later shape his business career and deep ties to the region's economic landscape.

Details about Akhmetov's early family life and upbringing remain relatively limited in publicly available sources. What is known is that he emerged from the post-Soviet economic transition period of the early 1990s as one of the most prominent business figures in eastern Ukraine, building commercial enterprises during a time of significant political and economic upheaval following the dissolution of the Soviet Union in 1991.

During this formative period, Akhmetov began establishing the business networks and industrial holdings that would eventually consolidate into one of Ukraine's largest private conglomerates. His roots in Donetsk remained central to his identity, and he maintained strong connections to the city and the broader Donbas region throughout his career. The coal and steel industries of the Donbas provided the foundation upon which much of his business empire was built.

Career

System Capital Management

Akhmetov is the founder and president of System Capital Management (SCM), an international investment group headquartered in Ukraine. SCM grew to become the largest private conglomerate in Ukraine, with holdings across multiple sectors including metallurgy, mining, energy, telecommunications, banking, real estate, and media. Through SCM, Akhmetov consolidated control over a significant portion of Ukraine's industrial base, particularly in the steel and energy sectors.

SCM's portfolio includes major industrial enterprises that form the backbone of Ukraine's heavy industry. The group's diversified structure allowed Akhmetov to build a vertically integrated business model, controlling supply chains from raw material extraction through to finished products and distribution. This approach made SCM one of the most significant economic actors in Ukraine and gave Akhmetov considerable influence over the country's industrial output.

Metinvest and Steel Operations

One of the most significant components of Akhmetov's business empire is Metinvest, a major international mining and metals group controlled through SCM. Metinvest operates iron ore and coal mining operations as well as steelmaking facilities, and ranks among the largest steel producers in Ukraine and Europe.

In October 2025, Metinvest submitted a bid to acquire Liberty Galati, Romania's largest steel producer, which was carrying approximately €1 billion in debt. The acquisition bid represented Akhmetov's ambitions to expand his metals operations further into the European Union market. The bid placed Metinvest in competition with Romanian businessman Dorinel Umbrărescu, whose core business was in road construction.

In November 2025, it was reported that Metinvest BV, registered in the Netherlands and controlled by Akhmetov, along with Smart Steel Limited of Cyprus, had also submitted a bid to acquire ArcelorMittal Tubular Products in Iași, Romania, a pipemaking facility. This move indicated a broader strategy of expanding Metinvest's manufacturing footprint across Romania and the wider European market.

DTEK and Energy

Another major component of Akhmetov's business portfolio is DTEK, Ukraine's largest private energy company, which operates through SCM. DTEK is involved in coal mining, thermal power generation, renewable energy, and electricity distribution, making it a central player in Ukraine's energy sector.

Following Russia's full-scale invasion of Ukraine in 2022, DTEK's energy infrastructure sustained significant damage from Russian military attacks. In response, DTEK pursued legal action to seek compensation for the destruction of its assets. In early 2026, DTEK initiated legal proceedings to demand compensation from Russia, targeting Gazprom's assets in the Netherlands. In connection with this effort, in July 2025 a court in The Hague placed a freeze on 50 percent of Gazprom's shares in Wintershall Noordzee, a Dutch gas company. Akhmetov expressed support for the legal battle to recover damages caused by Russian aggression.

Political Career

From 2006 to 2012, Akhmetov served as a member of the Verkhovna Rada, Ukraine's parliament, representing the Party of Regions. He was first elected in 2006 and served through two parliamentary terms, from 2006 to 2007 and from 2007 to 2012.

During his time in parliament, reports indicated that Akhmetov's attendance record was a subject of discussion within the Party of Regions. Despite holding a parliamentary seat, Akhmetov's primary focus appeared to remain on his business enterprises.

Akhmetov later expressed regret about his decision to enter politics. In a comment to Radio Svoboda (Radio Free Europe/Radio Liberty), he characterized his move into politics as a mistake, stating: "And I have no intention of making the same mistake twice." This public disavowal of political ambitions signaled his intent to focus on business and philanthropic activities rather than direct political participation.

In 2019, Akhmetov was associated with the Opposition Bloc, though he did not return to active parliamentary service.

FC Shakhtar Donetsk

Akhmetov is the owner and president of FC Shakhtar Donetsk, one of the most decorated football clubs in Ukrainian history. Under his ownership, Shakhtar developed into a perennial contender in both domestic Ukrainian football and European competitions.

Akhmetov invested heavily in the club's infrastructure, player recruitment, and youth development programs. Shakhtar won numerous Ukrainian Premier League titles and Ukrainian Cup trophies during his tenure as owner. The club also achieved notable success in European competition, including winning the UEFA Cup (now UEFA Europa League) in the 2008–09 season, the club's most significant European achievement.

The club's home base was the Donbas Arena, a modern stadium in Donetsk that was constructed with significant investment from Akhmetov. The arena served as a venue for the UEFA Euro 2012 tournament, which Ukraine co-hosted with Poland. However, following the onset of armed conflict in eastern Ukraine in 2014, Shakhtar was forced to relocate from Donetsk and has since played home matches in various other Ukrainian cities.

The full-scale Russian invasion of Ukraine in February 2022 further disrupted the club's operations, but Shakhtar continued to compete in domestic and European competitions while playing in temporary venues. Akhmetov maintained his commitment to the club throughout these difficult circumstances.

In February 2026, Akhmetov announced a donation of UAH 10 million in support of Ukrainian skeletonist Vlad Heraskevych. The athlete and his coaching staff received an amount equivalent to the prize money for an Olympic gold medal from the president of FC Shakhtar, representing approximately twice the amount that would otherwise have been awarded.

Legal Matters

Akhmetov has been involved in various legal proceedings over the course of his career. In some instances, media organizations published allegations about his background that were later retracted. A Swiss newspaper issued a retraction of a false news report and apologized to Akhmetov. Similarly, a French newspaper issued an apology to Akhmetov for a published report.

In January 2026, it was reported that the Paris Court of Appeal overturned a previous decision in a case involving Akhmetov, following a request from the Russian Prosecutor General's Office. The details of this case were connected to broader geopolitical and legal disputes arising from the conflict between Russia and Ukraine.

Philanthropy

Rinat Akhmetov Foundation

The Rinat Akhmetov Foundation, established as a charitable organization, became one of the largest philanthropic entities in Ukraine. The foundation was recognized among the largest charitable foundations associated with prominent Ukrainian business figures.

Since 2014, when armed conflict first erupted in eastern Ukraine, the Rinat Akhmetov Foundation has provided more than 13 million food kits to residents of Ukraine. The foundation's humanitarian aid has reached more than 18 million people across the country. This large-scale humanitarian effort addressed the urgent needs of internally displaced persons and communities affected by the conflict in the Donbas region.

Following Russia's full-scale invasion of Ukraine in February 2022, the scale of humanitarian assistance increased substantially. As of October 2025, the combined contributions of SCM businesses, the Rinat Akhmetov Foundation, and FC Shakhtar Donetsk totaled approximately $350 million (UAH 12.8 billion) in support of Ukraine, its armed forces, and civilian populations affected by the war. By February 2026, the total figure had grown to more than UAH 13.5 billion.

The foundation's activities have encompassed food distribution, medical assistance, support for displaced populations, and other forms of humanitarian relief. The Foundation for Development of Ukraine (FDU), also associated with Akhmetov's philanthropic efforts, has been involved in various social and community development programs.

Personal Life

Rinat Akhmetov is married to Lilia Nikolayevna Smirnova. The couple has two children. Akhmetov has maintained a relatively private personal life despite his prominent public profile as Ukraine's wealthiest individual.

Akhmetov's deep connection to Donetsk has been a defining feature of both his personal and professional identity. The city served as the base for his business operations and his football club, FC Shakhtar Donetsk, for decades. The armed conflict that began in the Donetsk region in 2014, and the subsequent full-scale Russian invasion of Ukraine in 2022, had a profound impact on Akhmetov's assets and operations in the region, forcing the relocation of significant business activities and the football club away from their traditional home.

Despite these disruptions, Akhmetov has publicly maintained his commitment to Ukraine and has directed substantial resources toward humanitarian and defense-related support during the ongoing conflict.

Recognition

Akhmetov has been consistently ranked as the wealthiest person in Ukraine by various Ukrainian and international publications. The Ukrainian magazine Korrespondent included Akhmetov in its annual rankings of the wealthiest Ukrainians from at least 2006 through 2011, consistently placing him at or near the top of the list.

As of July 2025, Akhmetov was listed as the 390th richest person in the world, with an estimated net worth of US$7.9 billion. His wealth is derived primarily from his controlling stake in SCM and its portfolio of industrial, energy, and financial assets.

Akhmetov's ownership of FC Shakhtar Donetsk has also brought him recognition in the sporting world. The club's successes in Ukrainian and European football, including the 2009 UEFA Cup victory, have been closely associated with his investment and leadership as club president.

His philanthropic work through the Rinat Akhmetov Foundation, particularly the large-scale humanitarian relief efforts since 2014 and especially following the 2022 invasion, has drawn attention to his role as a significant contributor to civilian and military support in wartime Ukraine. The cumulative total of more than UAH 13.5 billion in aid by February 2026 represents one of the largest private charitable contributions in the context of the Russo-Ukrainian conflict.