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September 20, 2021

Top 300 Capital 2012 – Billionaires became millionaires

The latest issue of TOP 300 Capital,  shows that the businesspeople whose assets exceeded EUR 1 bln in the past now only own hundreds of millions. According to the top, Ion Tiriac and Dinu Patriciu are no longer billionaires. And they are not alone in losing this status. The decline of the auto and real estate markets took a heavy toll on the businesses controlled by Tiriac, so the wealth of this magnate – one of the wealthiest businessmen in Romania – now relies on the Unicredit Tiriac bank, where he holds 45 pc of the shares. The bank grew last year too, reach an operational profit of EUR 30 M, 17 pc more than last year. After failed transactions and insolvencies, the only profitable businesses still controlled by Dinu Patriciu are in constructions and real estate, respectively the oil businesses. The Adamescu family, too, saw its wealth dwindling under the EUR 1 bln mark. The main asset of Dan and Carmen Adamescu, Unirea Shopping Center, had a 9 pc turnover decrease against 2010, and the profit in H1 2012 was 32 pc lower than a year ago. Unlike many magnates, the Adamescu has the advantage of the insurance business.

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