What they could have in common «Ultimate Emperor of Tankers» on the planet, called and «big wolf», the brother of the second richest Indian, a very powerful billionaire, and an Israeli tycoon, one of the inspirers of the Trump plan for the tourism exploitation of Gaza? But what connects all of them to four Russian oligarchs who, after the invasion of Ukraine, demoted Russian citizenship?
It is. billionairesAnd they are all the nationals of Cyprus. In total, 10 Cypriots are included in this year's list «Forbes» with the world's Billionaires, with a total fortune of $57 billion. But of these only three are ring Cypriots: they are the children of the late top shipowner Lucas Hatzioannou, Polly., Stemium and Cleas. The other seven took Cypriot citizenship for various reasons, mainly of which that Megalonissos has one of the most attractive tax regimes between the Eurozone and the EU. That is why it attracts magnates who acquire Cypriot citizenship make use of this regime and increase their wealth.
The Cyprus it is a low tax centre due to the favourable rates, the facilities for holding companies and the network of extended contracts it has concluded to avoid double taxation. Fully harmonised with the EU, it remains a popular destination for international companies. For example, Corporate Tax is only at 12.5% of the lowest in the EU. There are also significant exemptions for holding companies (e.g. dividend/interest tax exemption), very low cost of establishing and maintaining companies. In fact, with the last tax reform passed last December tax exemptions and reliefs were extended.
THE «Tanker wolf»
THE John Fredericksen He gained Cypriot citizenship in 2006, as the richest then Norwegian and always in, around or very close to the first hundred of the richest people in the world. With a net fortune now reaching $21.2 billion, for 2026 he holds 118th place on his list «Forbes». It is about the «absolute emperor of oil tankers» With the largest tanker fleet on the planet.
John Fredericksen – $21.2 billion #118 in the world
If there is a condition «self-taught shipowner», he fully characterizes Fredriksen as he began his career as a courier clerk to an Oslo shipping broker. He quickly met the secrets of the maritime industry, even stopping from night school to devote himself fully to it. He gradually climbed the whole scale, finally reaching the top.
Born May 10, 1944 in the Oslo suburb, the son of a simple welder, Fredericksen engaged in oil trading in the 1960s. The seat of Beirut's company. He bought his first tankers a few years later. But his fortune was ejected with a high risk move, as he had ship losses, but also huge profits, when he took over the trade in crude oil on behalf of Iran during his war with Iraq in the 1980s.
His aggressive strategy for buying oil tankers at lower prices and maximising profits in times of high demand helped him accumulate considerable wealth. For this very aggressive business strategy he acquired the title «big wolf».
In addition to Frontline Ltd., which became the world's largest oil tanker operator, over the years it varied its investments. It holds important interests in offshore drilling through Seadrill, in fish farming through Mowi, the largest company in the industry today, and in bulk dry shipping through Golden Ocean Group. All of them are managed with investment umbrellas such as Hemen Holdings and Meisha. In 2012 it was found on the magazine list «Bloomberg Markets» with 50 people with the greatest influence on the planet, while in 2014 and 2017 in high places on Lloyd’s List «Most Influential People».
In 1973 he met Inger, with whom they married in Athens and acquired in 1983 their twin daughters, Catherine and Cecily. Inger died of cancer in 2006. His permanent residence is in Chelsea, London, in a 3,000 sq.m. mansion called «The Old Rectory» (Old Presbytery) and once was the seat of the parish church vicar, dating from 1725. Its value today exceeds $300 million. According to the «Evening Standard», the mansion in Chelsea belonged to the Greek shipowner Theodoros Angelopoulos, from whom Fredericksen bought it instead of £37 million in 2001.
In fact, in 2004 Roman Abramovic had been interested in her acquisition, but Fredericksen rejected the $125 million offer. Cyprus is the tax seat of its businesses, with their headquarters located in other countries. Last year he shut down Seatankers' headquarters in Sloan Square in London, showing that he prefers the Emirates to run his empire. But his decisions may now be revised due to the war. However, as reported sources of the industry, Seatankers agreed last Thursday on the construction of 2+2 Newcastlemaxes ships at the Chinese shipyard Dajin Heavy Industry, instead of $73.5 million each.
Vinod Adani – $20.8 billion #121 in the world
The Indian tycoon
The 77 year old Vinod Sanidal Antani is Gautam Adani's older brother, once a third richest man in the world, but also today in the enviable 30th place on his list «Forbes» for 2026, while he is on 121st.
Adani Group manages from ports and airports to power generation and transport, as well as green energy, while in 2022 it became the second largest cement producer in India, after obtaining the Indian assets of the Swiss company Holcim instead of $10.5 billion.
Vinod was born in 1947 in Gujarat, India. He maintains a family investment office in Dubai, where he has resided permanently since 1994. He is the owner of Excel Investment and Advisory Services and has strong entries in Adani Enterprises, Adani Ports and Adani Power Limited.
In 1976 he founded the VR Textile looming and manufacturing business in Mumbai. Recognizing the increasing potential on the global commodity market, he expanded his business activities in Singapore in 1989 and Dubai in 1994, with an emphasis on the trade in oil, sugar, aluminium, copper and scrap iron. His international activities became critical for the global activities of the Adani group, creating key trade routes throughout Asia, the Middle East and Europe. His experience in managing the supply chain helped him secure profitable agreements in the field of energy and metals.
In 2010 she took control of Electrogen Infra and her parent Electrogen Infra Holdings. A 2023 report by Hindenburg Research criticised him for managing virtual companies in order to secure funding. The exhibition identified 38 offshores in Mauritius and some in Cyprus, United Arab Emirates, Singapore and Caribbean controlled by Vinod or his close associates. These were reported to facilitate capital movements within the Adani group, without clear operational activities.
After further investigation by «Wall Street Journal» and Bloomberg and the disclosure of irregular transactions in companies of the tycoon, a similar investigation by the Capital Market Council of India (SEBI) revealed in April 2024 that the companies of the Adani group were receiving funding from up to 12 offshore companies of Vinod. The group paid fines to settle the charges. In Cyprus Vinod has registered JM Asian Cyprus A Limited, Neptune Asian Cyprus B Limited and Vakoder Investments Limited. Business puts emphasis on identifying emerging markets and building durable supply chains to support the development of Adani Group. He's married to Ranjanbeen Adani. The couple are known for their charitable contributions.
Yakir Gabai – $4.2 billion #1.011 in the world
THE «Mr Gaza Project»
THE Yakir Gabai He is a Beros Israeli, with Cypriot citizenship now, a real estate tycoon of $4.2 billion, but hardly identifiable in his country. But until Donald Trump appointed him to the much discussed World Peace Council for Gaza. But everything explains. The manipulative 60-year-old Israeli Cypriot businessman is a key pillar of the design of Gaza's famous residential reconstruction, aimed at its touristic utilisation.
According to Israeli sources from Hamas' horrifying attack on October 7, 2023 Gabai was permanently engaged day and night until he formed a position on how the situation in Gaza could be resolved. His main assumption was that in the Gaza Strip there must be a different economic reality, but this is impossible without stability and security. The position he developed is based on a «iron rigid principle»: «It is not the economy that will bring security, but the opposite.». Incurable need, the disarming of Hamas. Only then can something completely different be built from the beginning.
In mid-2024 and while the conflicts in Gaza raged, Gabai presented his thoughts to his close friend Jared Kushner, Trump's son-in-law. Later, with Trump's (re)election as an American president, discussions grew. And when last autumn the government presented the 20-point plan to end the war, Kushner called Gabai. «Instead of dealing with Gaza on the sidelines, come and devote yourself fully to the matter»He told him.
So it happened. Gabai was announced as a member of the Council in which Kushner, Marco Rubio and Steve Whitkov and former British Prime Minister Tony Blair participate. His vision is to build Gaza from the beginning, with infrastructure, buildings and economy. It looks forward to a high model: the United Arab Emirates. In his opinion, the transformation that the Emirates have undergone over the last few decades has been possible because everyone there is talking about jobs, everyone wins and so everyone is satisfied. Now, whether this is possible in Gaza is a matter of another debate. Gabai was born in Jerusalem. His father, Mair, was general director of the ministry of justice, commissioner of public administration of Israel, but also president of the United Nations Administrative Court. His childhood was marked by a serious joint disease. He studied Economics, Accounting, Finance and Business Administration at the Jewish University.
It currently holds 15% of the largest German real estate company aroundtown S.A., listed on Euronext Paris and Frankfurt Stock Exchange, with a commercial real estate portfolio of $30 billion in Europe. It also has a 63% stake in Grand City Properties, featuring 63,400 apartments in Germany, the Netherlands and London. His company strategy is based on the acquisition of properties in central locations, improving their performance, and creating effective management.
Igor Makarov – $2.4 billion #1.834 in the world
4 Russian oligarchs
Four Russian billionaires chose Cypriot citizenship to march. First the 64 year old Igor Makarov, with a $2.4 billion fortune, is the founder of Itera, the first Russian independent gas company, in 1992. Itera founded its subsidiary Itera Oil and Gas Company based in Jacksonville, Florida, where McCarov also acquired a very expensive mansion. It was bought in 2013 by Rosneft, the state oil company, instead of $2.9 billion. In 2023 he renounced his Russian citizenship and has since been a citizen of the Republic of Cyprus. Today he is president of the international group Areti (as opposed to Itera), registered in Cyprus, with activities in Europe, North America and the Middle East. It deals with global investments in energy and sports development.
McCarov no longer has business interests or partnerships in Russia. His companies suffered severe sanctions from various governments due to the war in Ukraine.
Vladimir Krupsak – $1.6 billion #2.481 in the world
Second is Vladimir Krupsak with $1.6 billion property, derived from his share of Arkhangelsk Pulp and Paper Mill, Russia's largest cardboard producer. Prior to 2022 he controlled the Russian and Ukrainian assets of Austrian Pulp Mill Holding. The born 68 years ago in Archagelsk Russian magnate studied Dentistry and then at the School of Business Administration of the University of Portland in the US. He was also a member of the State Duma between 2004-2007. He has a home in Limassol, where he is often with their wife and seven children.
Valentin Kipiatkov – $1.0 billion #3.332 in the world
The three brothers Hatzioannou
Here are two partners. The Sergei Dmitriev and Valentin Kipiatkov co-founded in 2000 the software company JetBrains, based in Prague and St Petersburg. The company's tools are used worldwide by more than 10 million software developers and project managers. The president of the operation is Dmitriev. Both ceased all business activity in Russia after the invasion of Ukraine and renounced Russian citizenship in 2023. They now hold Cypriot passports and live in Cyprus. The property of the first was valued by «Forbes» $1.4 billion (No. 2.712 in the world), while that of 50-year-old Kipiatkov at $1 billion (No. 3.332).
Sergei Dmitriev – $1.4 billion #2.712 in the world
The children of Loukas Hatziioannos are the real blood-blooded Cypriots in the tens of billionaires with Cypriot citizenship. Polis, Stelios and Clelia Hatzioannou, who continue on their father's path to success, sometimes in common and once in separate steps, creating their own unique imprint on international business. Lucas Hadjiioannou was an iconic figure that marked the course of world shipping strongly. Self-made, brilliant, insightful and bold, he managed to create a real maritime empire and rightly, at some point, to acquire his title «King of oil tankers». He passed on to his children the filter of business success, but also nurtured them with the principles of generosity, offering home, Hellenism and the social ensemble.
Stelios Hadjiioannou – $1.4 billion #2.712 in the world
Sir Stelios Hadjiioannou born in Athens on 14 February 1967. He worked alongside his father in Troodos Shipping in Piraeus until his 25th year. Then he founded his own shipping Stelmar Tankers, with financial help from his father. Stelmar was admitted to the New York Stock Exchange in 2001 and sold to a competitor in 2005 instead of $1.3 billion. Stelios also founded the low-cost airline easy Jet in 1994, one of the most successful in the industry. It remains its shareholder and retains ownership of the easy name through its private easyGroup company. So he has given the name easy to businesses such as easyHotel, easyCar and easyCoffee, of which he receives rights.
He graduated from London School of Economics in 1987 and holds a master's degree. At the age of 39 he received the title of knight from Queen Elizabeth II. Since 2009 he has been an honorary Consul General of the Republic of Cyprus in the principality of Monaco where he lives. In 2007 he formalized his charity offering creating the Stelios Hadjiioannou Foundation, with the task of supporting a wide range of charitable activities mainly in countries where he lived and worked: United Kingdom, Greece, Cyprus, Monaco. The Foundation provides many scholarships to students, but also donations to NGOs («Together for the Child», «The Smile of the Child», ELEPAP, «Arcturus», Make a Wish Greece, Greek Red Cross, UNHCR Greece etc.). His estate was valued by «Forbes» $1.4 billion.
Polis Hatzioannou – $1.4 billion #2.712 in the world
Stellius' older brother is Polis L. Hatzioannou, who continues the family maritime tradition with his own fleet. It has since 1993 the Polyar Tankers, with 14 tankers, according to «Forbes», based in Oslo and offices in Limassol, Piraeus, Monaco, Singapore, London, Mumbai, Manila etc. It has also invested significant amounts in both commercial and residential properties in Cyprus, Greece, Monaco and London. The 66-year-old Cypriot billionaire has built much of his property, this year amounting to $1.4 billion, from the significant share in easyJet, founded by Stelios. In 2001 Paulis L. Hatzioannou married Rosemary Zoudrou. Their two children live in Monaco. His yacht «Esmeralda» It was named after one of the largest turtles in the world.
The institution
The Clelia Hadjiioannou She's Polly and Stellius' younger sister. He is a billionaire, mainly thanks to her share of easyJet. It owns properties in Monaco, London, Greece, Cyprus and many other parts of Europe. He also has a gallery outside Athens, hosting works of art by Picasso, Warhol and Dali. He studied Banking and International Finance at the University of London (Bayes Business School). Her fortune is $1.2 billion. Her husband is Constantine Skorilas, with whom they have had two children, Anna and Luke. She became widely known for her great charity work.
Clelia Hatzioannou – $1.2 billion #3-017 in the world
It has established the Kelias Hadjiioannou Foundation, housed in the privately owned Trikoupi tower in Kifisia and the purpose of which is to grant scholarships to Greek students of Greek and Cypriot universities for postgraduate studies in England.
