Top 10 Richest Men In Cyprus According To Forbes (2025)

Cyprus might be known worldwide for its sunny beaches, beautiful resorts, and Mediterranean charm, but it is also home to (or a base for) some of the wealthiest business moguls in the world. Thanks to its favorable tax laws, strategic location, and vibrant economy, this island nation has attracted billionaires from different industries—shipping, real estate, technology, aviation, and more.

Today, we’ll explore the top 10 richest men in Cyprus, according to Forbes’ 2025 rankings, based on the list provided. This isn’t just a showcase of numbers—it’s a glimpse into how these magnates built their empires and the industries that fuel their fortunes.

1. John Fredriksen – $17 Billion

• Age: 80

• Industry: Shipping

• Source of Wealth: Logistics

John Fredriksen is widely regarded as one of the most influential figures in the global shipping industry. Born in Norway but now a citizen of Cyprus, Fredriksen earned the nickname “Big John” for his dominance in oil tankers and shipping logistics. His company, Frontline Ltd., became one of the largest tanker operators in the world, transporting crude oil across oceans.

Beyond shipping, Fredriksen has diversified into fish farming through Marine Harvest (now Mowi), the largest producer of farmed salmon globally. His ability to pivot between industries while maintaining a global business presence is a testament to his sharp instincts.

2. Vinod Adani – $14.9 Billion

• Age: 76

• Industry: Infrastructure, Commodities

• Source of Wealth: Diversified

Vinod Adani, part of the renowned Adani family, has established himself as a key global investor and business leader. Although his roots are in India, Cyprus has become his business base. Adani’s wealth stems from a portfolio of infrastructure projects, commodities trading, and global investments.

His strategic moves mirror those of his younger brother Gautam Adani, focusing on energy, ports, and logistics. The Adani group’s international reach has made Vinod a central figure in connecting markets across continents.

3. Yakir Gabay – $4 Billion

• Age: 58

• Industry: Real Estate

• Source of Wealth: Real Estate

Yakir Gabay has built an empire in European real estate through Aroundtown SA, one of the continent’s largest commercial property owners. His portfolio includes office buildings, hotels, and residential complexes across Germany and other European countries.

What sets Gabay apart is his long-term investment strategy—focusing on properties in high-demand urban locations and steadily improving their value over time. His business acumen has made him a powerful figure in the real estate sector, with Cyprus serving as a strategic home base.

4. Sergey Dmitriev – $2.6 Billion

• Age: 59

• Industry: Software

• Source of Wealth: Technology

Sergey Dmitriev made his fortune in the software industry, building and investing in tech companies that have gained global recognition. His ventures span enterprise solutions, cloud computing, and cybersecurity tools.

The tech industry’s rapid growth over the last two decades has played directly into Dmitriev’s hands. By identifying early trends and betting on emerging technologies, he has secured a position among Cyprus’s wealthiest residents.

5. Igor Makarov – $2 Billion

• Age: 62

• Industry: Investments

• Source of Wealth: Energy

Igor Makarov, a former professional cyclist turned billionaire entrepreneur, is best known for his work in the energy sector. He founded ITERA, a natural gas company, which he later sold to Russian energy giant Rosneft. Since then, Makarov has diversified his investments into various sectors, including finance and real estate.

Today, he channels much of his energy into philanthropic work, sports development, and international business investments, with Cyprus serving as his primary base of operations.

6. Valentin Kipyatkov – $1.8 Billion

• Age: 48

• Industry: Software

• Source of Wealth: Technology

Valentin Kipyatkov is best known as the co-founder of JetBrains, a Czech-based software development company that has become a favorite among programmers worldwide. JetBrains’ tools, like IntelliJ IDEA, are industry standards in software engineering.

Kipyatkov’s approach to business focuses on innovation and creating high-quality products that developers actually love to use. His stake in JetBrains, combined with other tech investments, has cemented his place among Cyprus’s elite billionaires.

7. Stelios Haji-Ioannou – $1.3 Billion

• Age: 58

• Industry: Aviation, Services

• Source of Wealth: EasyJet

Sir Stelios Haji-Ioannou is a household name in European aviation. As the founder of EasyJet, he revolutionized budget air travel in Europe by making flying affordable for millions. Born into a shipping family, Stelios leveraged his entrepreneurial skills to create one of the most recognizable low-cost airlines in the world.

Beyond EasyJet, Stelios has expanded into various “easy” branded ventures, from car rentals to hotels. His vision has left a lasting mark on both Cyprus and the global travel industry.

8. Clelia Haji-Ioannou – $1.2 Billion

• Age: 54

• Industry: Aviation, Services

• Source of Wealth: EasyJet

Clelia Haji-Ioannou, sister of Stelios, also benefits from the family’s significant stake in EasyJet. While she keeps a lower public profile than her brother, her business interests and investments remain substantial.

Her wealth demonstrates the power of family-owned stakes in publicly traded companies—especially when the business is a global leader in its sector.

9. Polys Haji-Ioannou – $1.2 Billion

• Age: 65

• Industry: Aviation, Services

• Source of Wealth: EasyJet

Polys Haji-Ioannou, another sibling in the Haji-Ioannou family, also shares in the EasyJet fortune. Like Clelia, he has invested in other ventures beyond aviation, including property and shipping.

The Haji-Ioannou siblings together represent one of the most financially successful families in Cyprus, their combined wealth making them influential players in both business and philanthropy.

10. Vladimir Krupchak – $1.2 Billion

• Age: 67

• Industry: Manufacturing

• Source of Wealth: Manufacturing

Vladimir Krupchak’s fortune comes from the timber and paper manufacturing industries. He played a key role in the Arkhangelsk Pulp and Paper Mill, one of the largest paper producers in Russia, before moving his business interests to Cyprus.

His experience in large-scale industrial operations has given him an edge in global manufacturing markets, allowing him to remain competitive in an ever-changing economy.

Final Thoughts

Cyprus’s billionaire list is a unique mix of local and international figures who have chosen the island as their home base. From shipping magnates and tech innovators to real estate tycoons and aviation pioneers, these individuals reflect the diverse business opportunities that Cyprus offers.

Their fortunes are tied to industries that power the global economy—shipping, technology, energy, real estate, and manufacturing—showing that wealth creation knows no borders. Cyprus’s business-friendly environment continues to attract top-tier entrepreneurs, cementing its reputation as a hub for global commerce.