As per the 15th edition of the ‘Capital Top 300’ rankings, the combined wealth of the top 300 richest Romanians has grown by 4.2 percent to 21.69 billion Euros.
The wealth threshold required to be part of the rankings has grown by 20 percent. While it stood at 16-18 million Euros in the previous edition, it has now climbed to 20-21 million Euros.
The economic growth of 3.7 percent that Romania registered last year also reflects in the millionaires’ wealth, with just one of the top 10 richest Romanians registering a slump in wealth. The wealth of Ion Tiriac, the richest Romanian, has grown by 8.3 percent, while the wealth of the Paval brothers has grown by 6.8 percent.
Top 300 Richest Romanians, 2016 edition, the top 10 ranks
- Ion Tiriac (photo): 1.6 – 1.65 billion Euros (in 2015, his wealth stood at 1.5 billion Euros)
- Dragos and Adrian Paval: 920-950 million Euros (850-900 million Euros last year)
- Ioan Niculae: 600-700 million Euros (same rank as last year, when the businessman’s wealth stood at 750-800 million Euros)
- Zoltan Teszari: 500-520 million Euros (last year, the wealth of the owner of RCS&RDS stood at 480-500 million Euros)
- Iulian Dascalu: 450-460 million Euros (last year, the wealth of the owner of Iulius Group stood at 430-450 million Euros)
- Gruia Stoica and Vasile Didila: 380-400 million Euros (last year, the two entrepreneurs held separate ranks, with 365-400 million Euros)
- Marius and Emil Cristescu: 350-360 million Euros (the two brothers had a wealth of 330-350 million Euros last year)
- Gabriel Popoviciu: 340-360 million Euros (in 2015, the businessman was 8th with 330-350 million Euros)
- George Becali: 280-300 million Euros (in 2014, Becali was 10th with 270-300 million Euros)
- Radu Dimofte: 280-300 million Euros (last year, the businessman was 11th with 270-290 million Euros)
The millionaires’ profile
Compared to the previous edition, changes have also occurred in the profile of the millionaire present in Top 300. Briefly, the profile looks like this: almost 57 years old, male, wealth in excess of 72 million Euros, lives in Bucharest.
There are 112 millionaires in the Bucharest-Ilfov region, their combined wealth totalling 10.15 billion Euros, which represents 46.8 percent of the wealth of the 300 richest Romanians, ‘Capital’ shows.
The economic sectors in which the richest Romanians’ companies registered significant growth were: trade, IT, transports and services. Agriculture businesses registered slight growth, this sector’s niche domains registering higher growth.
If you wonder how many years an employee earning an average salary would need to enter the Top 300 rankings, the answer is no fewer than 3,665 years. But for the best-paid Romanian, who earned last year a salary of 16.4 million lei, according to ANAF data, it would only take 5.5 years to enter the rankings, provided he is not already there.
When calculating the wealth, Capital considered both the value of the company stocks held as well as the value of movable and immovable assets. To evaluate the businesses, EBITDA multipliers were used, different for each industry, updated in relation to market values confirmed through recent transactions in the domains concerned (the multipliers were offered by Deloitte Romania). The financial data of the companies analysed were offered by Creditinfo Romania, and throughout the data collection process Capital’s editors also benefitted from the support of Risco experts. The value of debts was also considered. For personal wealth, considered (where data existed) were also immovable assets (plots of land, buildings) owned by the millionaires and their families, other personal valuables as well as bank accounts.