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In an effort to increase transparency in his government, Ukrainian President Volodymyr Zelensky has revealed his personal income for the first time since the outbreak of war with Russia.
In 2021, the year before Russia invaded Ukraine, Zelensky and his family reported income of 10.8 million hryvnias ($47,000), down 12 million hryvnias from the previous year, according to a statement on his official website.
In 2022, the first year of the Russian occupation, the Zelensky family's income dropped to 3.7 million hryvnias as they earned less income from rents and from their properties due to hostilities.
Although the war allowed Ukrainian officials to withhold sensitive personal information, Zelensky pressured them to publicly declare their assets.
Increased transparency and a crackdown on bribery are essential for his country to secure continued financial aid from its Western allies, even as more than $100 billion in funds have been frozen due to political maneuvering within the US and the EU. of.
Zelensky earned much more before entering politics, when he was a showman and ran a large production company.
His total wealth
Since the start of the war, Zelensky's net worth has been the subject of debate and conspiracy with many suggesting that the Ukrainian president is a billionaire. In his analysis in 2022, Forbes refutes these data by emphasizing that unlike his predecessor, Zelensky has never been a billionaire.
At that time his wealth was about 20 million dollars, according to Forbes Ukraine reports, while Forbes US says less than 30 million dollars.
His main asset: about a 25% stake in Kvartal 95, a group of companies that produce comedy shows, which he transferred to his partners after being elected president, although he is likely to regain his shares after he leaves office.
Kvartal 95 produced and owns the series Servant of the People, a popular political comedy starring Zelensky as a Ukrainian high school teacher who is elected president.
While he has an apartment in one of Ukraine's most expensive apartment buildings in central Kiev, it is relatively modest by Western standards.
Forbes estimates that Zelensky's entire real estate portfolio is worth $4 million, including two other fully owned apartments, two of which he co-owns, a single commercial property and five parking spaces.
Zelensky owned a $4.6 million villa in Forte dei Marmi, Italy as of December 2019.
What Forbes found out
He apparently sold it in 2020 along with 5 hotel rooms in Georgia.
The money from these sales was declared and included in the Forbes estimate, but since the amount is less than the estimated value of the real estate, there is a possibility that Zelensky remains the de facto beneficiary or the cash was invested elsewhere .
Russian propagandists believe Zelensky owns up to five luxury yachts and three private jets, in addition to $60 million in shares in companies including Saudi Aramco, Meta and Tesla.
Forbes found no evidence of such a fleet, and if Zelensky owns shares in these companies, it's hard to believe those shares would be worth anywhere near $60 million.
He and his wife Olena Zelenska have a bank account that has about $2 million in cash and government bonds.
Their other assets, consisting of two cars and some jewelry, do not exceed $1 million.
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