The 2008 recession hit Ukraine pretty well. Almost 40% of small-scale firms filed for bankruptcy. Ukraine's GDP shrank by 18%. Industrial output dropped by almost 30%. A 4% growth of agro-producing output is one of the few bright spots in a dismal picture of Ukraine's economy.
According to the Forbes, the Ukrainian billionaires also got hit by the 2008 recession really hard. Ukraine had seven billionaires listed on the Forbes's World's Billionaire List in 2008. Now there are only four billionaires on the Forbes' list. Approximately, a net worth of Ukraine's top CEOs dropped more than by three-fourths. It's just crazy. Moreover, Rinat Akhmetov, who was the richest CEO all those years before the recession, had to step down from the first place.
Btw, I wonder how the 2008 recession will affect the 2009 presidential campaign in Ukraine. Will it be the cheapest campaign in the modern history of Ukraine?
Table 1. Forbes' List of Ukraine's Billionaires, 2006-2009.
Year
Name, Corporation | 2006 | 2008 | 2009 |
Net Worth (USD bln) & Forbes' World Rank (#) | |||
Ihor Kolomyisky, CEO Privat | n/a | 4.2 (#253) | 1.2 (#601) |
Sergei Taratuta, CEO ISD | 1.2 (#645) | 2.7 (#428) | n/a |
Rinat Akhmetov, CEO SCM | 1.7 (#451) | 7.3 (#127) | 1.8 (#397) |
Viktor Pinchuk, CEO Interpipe | 1.2 (#645) | 5.0 (#203) | 2.6 (#246) |
Henadyi Boholubov, CEO Privat | n/a | 4.0 (#260) | 1.2 (#647) |
Konstantine Zhivago, CEO F&C | n/a | 3.4 (#327) | n/a |
Vitaly Haydook, CEO ISD | n/a | 2.7 (#428) | n/a |
Total Net Worth | 4.1 | 29.3 | 5.6 |
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