Top Capital: Ion Tiriac is the richest Romanian again, with 1.7-1.8 billion euros

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For the fourth consecutive time, Ion Tiriac is the richest Romanian of the year, according to Top 300 Capital, with an estate valuated at 1.7-1.8 billion euros, showing an increase of 7.6 per cent compared with last year, reads a release of Capital magazine.

Coming second were brothers Dragos and Adrian Paval, who are the owners of DIY retailer Dedeman, with 1.1-1.2 billion euros, compared with 920-950 million last year, followed by Zoltan Teszari, who owns the RCS&RDS telecommunications network, with 550-570 million euro (compared with 500-520 last year), and Ioan Niculae, with 500-600 billion euro (600-700 last year).

“The economic growth of last year and this year is also seen reflected in the cumulated wealth of the Romanian businessmen in the Top 300 Capital. According to the 16th edition of the Top 300 Richest Romanians, the most long-lasting and relevant barometer existing in the Romanian business environment, their total wealth reached 23.05 billion euro this year, by 6.2 per cent more than in the previous edition,” said the makers of the ranking.

The minimum wealth that the businessmen needed to have accumulated in order to be able to make it in the top of the “Romanian elite” increased from 20-21 million euro up to 20-22 million euro this year, compared with last year. And for the first time the threshold has been exceeded by no less than 22 persons or families with growing businesses. Moreover, 5 former members of the Top 300 proved that they have managed to get their businesses back on track and return to the spotlight.

As many as 113 of the millionaires who made it to the top were from the Bucharest-Ilfov region, with a total wealth of 10.76 billion euro, meaning 46.7 per cent of the total wealth of the 300 Richest Romanians.

The economic sectors with significant developments were for this edition: trade, industry, transports and agricultural.

In calculating the wealth, Capital considered the value of the businessmen’s participations in companies. For assessing the businesses the organizers used EBITDA multipliers, a different one for each industry, updated depending on the market values confirmed for the most recent transactions in the respective fields of activity (multipliers were provided by Deloitte Romania). The debts were also taken into account. For the personal wealth, there was considered (where information was available) the immovable assets (plots of land, buildings) held by the millionaires and their families and other valuable assets, as well as their bank accounts.