Ukraine's Richest Man Drops Half a Billion on Monaco Luxury Home

Ukrainian billionaire Rinat Akhmetov has bought a luxury five-storey apartment in Monaco for approximately €471m ($550m), in one of the largest real estate transactions in history, according to Bloomberg.

The apartment is located in the Mareterra development, a newly built neighborhood on reclaimed land that opened in 2024. It has 21 rooms, covers approximately 2,500 sq m and includes a private pool, hot tub and multiple parking spaces. The property is situated in the flagship Le Renzo building, one of the most prestigious addresses in the principality.

The acquisition was made through Akhmetov's holding company, System Capital Management (SCM), which confirmed the investment but declined to disclose the price. Available data suggest this is a record sale, exceeding comparable transactions in London and New York.

The purchase was made before Russia's invasion of Ukraine in 2022, which subsequently hit Akhmetov's business interests, particularly in the energy sector. His assets amount to around €6bn, according to Bloomberg.

Monaco has long been one of the most expensive real estate markets in the world, with prices in the Mareterra development exceeding €100,000 per sq m.

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