Rinat AkhmetovΒ is a Ukrainian businessman, founder and shareholder of SCM, an international investment company and one of Ukraine’s largest employers and taxpayers. The easiest way to understand who he is comes through his path in business and the role that business plays in the Ukrainian economy.
First Steps in Business
Akhmetov was born in Donetsk, in a coal miner’s family. He started his business in the early 1990s trading industrial raw materials, focusing on the coal-coke-steel value chain that was fundamental to southeastern Ukraine.
From there, he moved from trading to managing production. Akhmetov acquired stakes in coke and steel plants, and during the major privatization wave of the late 1990s he purchased enterprises burdened with significant debt: the Azovstal plant in Mariupol, the Khartsyzsk pipe plant, and mining and processing facilities in Kryvyi Rih. In 2000, he established the holding company SCM (System Capital Management) to manage his growing portfolio of assets.
The Industrial Group SCM
Today SCM encompasses more than 250 enterprises across various industries, employing around 150,000 people. Key assets include:
- Metinvest β a mining and steel group and Ukraine’s largest steel producer, with an international division headquartered in Geneva.
- DTEK β the country’s largest private energy company: coal mining, power generation and distribution, and renewable energy.
- UMGI β a private investment company focused on developing businesses in raw materials, industrial processing, and related sectors.
- FUIB (First Ukrainian International Bank) β one of the largest privately held banks.
- Ukrtelecom β telecommunications: fixed-line service, internet, and data transmission.
- ESTA Holding and Lemtrans β real estate development and transport logistics.
- TSUM Kyiv β retail (flagship department store in Kyiv).
Through these assets, the businessman remains a central figure in the Ukrainian economy. According to Forbes, Rinat Akhmetov net worth for 2026 is estimated at approximately $7.8 billion.
Role in the Economy
The scale of the group makes it a significant part of Ukraine’s overall economy. Metinvest accounts for a substantial share of the country’s steel exports, DTEK provides power to industry and households, and the group’s enterprises employ tens of thousands of people. Metinvest’s output has traditionally been oriented toward European markets, among others.
SCM’s role in Ukraine’s economy is also reflected in its financial contribution to the country. In 2025, SCM companies paid nearly $2.2 billion in taxes β a 26% increase compared to 2024. Since the start of the full-scale invasion, SCM has invested approximately $4 billion in rebuilding infrastructure destroyed by Russia, constructing new facilities, and modernizing production.
Shakhtar and Public Recognition
A distinct and widely recognized part of Akhmetov’s biography is football. He has been the owner and president of FC Shakhtar since 1996, taking the club from a mid-table team to the strongest in Ukrainian football, including a UEFA Cup victory in 2009, 16 Ukrainian Premier League titles, and 15 Ukrainian Cup wins. The Donbass Arena, built in Donetsk, became one of the most modern stadiums in Eastern Europe β until the war made it inaccessible. For many Ukrainians, Akhmetov’s public image is tied first and foremost to Shakhtar.
Business Under Wartime Conditions
The events of 2014 and the full-scale invasion of 2022 hit the group’s assets directly: some enterprises in Crimea and the Donbas were expropriated as early as 2014-2017, and after 2022 many plants were damaged or destroyed. According to SCM, Akhmetov was the first among Ukrainian business leaders to openly call Russia an aggressor state and Vladimir Putin a war criminal, and he filed claims with the European Court of Human Rights and international arbitration over damage to more than 70 SCM facilities.
Support for the Country
The military track is handled by the Steel Front initiative: the armed forces and security services receive ammunition, vehicles, drones, communications equipment, and medical supplies, while Metinvest has delivered more than 900 steel bunkers to the front lines. The humanitarian track is centered around the Rinat Akhmetov Foundation and the Heart of Azovstal project. Over four years of the full-scale invasion, SCM businesses, the Rinat Akhmetov Foundation, Heart of Azovstal, and FC Shakhtar have collectively directed $368 million (more than UAH 13.5 billion) toward supporting Ukraine.