A Ukrainian billionaire and the richest man in the country, Rinat Akhmetov, has purchased a luxury five-floor penthouse apartment in a newly developed high-end district in Monaco for €471 million (approximately $554 million or over 800 billion Rwandan Francs). This is one of the most expensive residential property purchases in history.
This newly developed area, built on land reclaimed from the sea, was officially inaugurated by Albert II in 2024 and has been attracting ultra-wealthy individuals from around the world.
The reported price of the property sets a global record, far surpassing previous residential real estate transactions.
Among other high-value property deals in history is one in the United Kingdom sold by Nick Candy for over $350 million, and another in New York City purchased by Ken Griffin for $240 million.
There are also reports that Nick Candy recently sold another property for $518 million, though this still falls short compared to Akhmetov’s purchase.
Rinat Akhmetov, who was born in Donetsk, has a net worth exceeding $7 billion. He built his wealth through his company, System Capital Management (SCM), one of the largest industrial groups in Ukraine.
SCM operates across multiple sectors including steel production, mining, energy, construction, and real estate.
The architectural design of buildings in Mareterra, where Akhmetov bought the property, is known for its ultra-modern and luxurious style, blending sustainability with high-end coastal living.
