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What we learned from Ukrainian officials’ wealth disclosures

by Yana Prots May 1, 2025 9:59 PM 10 min read
President Volodymyr Zelensky and his wife, Olena Zelenska, attend a dinner hosted by Lithuanian President Gitanas Nauseda in Vilnius, Lithuania, on July 11, 2023. (Dursun Aydemir / Anadolu Agency / Getty Images)
by Yana Prots May 1, 2025 9:59 PM 10 min read
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Luxury watches, a collection of 20th century military uniforms, and a very expensive piano — these are just a few of the intriguing things revealed in the mandatory annual declaration of financial assets submitted by Ukrainian MPs last month.

The transparency system was established after the 2014 EuroMaidan Revolution in light of the endemic corruption and cronyism that the toppled regime of President Viktor Yanukovych epitomized.

It requires lawmakers to disclose all assets, income, and financial liabilities through the National Agency for Prevention of Corruption's online portal, and those who don't comply risk severe penalties — from fines to removal from office or even imprisonment in serious cases.

The Kyiv Independent took a look at the declarations of some of Ukraine's most well-known politicians to see what they revealed.

President Zelensky didn’t get new luxuries — but kept to old ones

President Volodymyr Zelensky’s declaration didn’t have any notable additions since last year. Most of his assets, including some luxuries, are the ones he owned since before he entered politics six years ago.

Among other things, Zelensky owns several high-end timepieces from Breguet, Rolex, Tag Heuer, and Bovet — the same items were listed in his first assets declaration filed in 2019.

Zelensky's declaration also lists 76 trademarks, several of which are co-owned with associates from the Kvartal 95 Studio — a production company where he rose to fame as a comedian and actor before becoming president.

Since Zelensky took office, he actually owns less real estate now — his declaration no longer shows a house near Kyiv, the land plot there, a house in Italy, and non-residential premises in Kyiv, which were likely sold, comprising gain in monetary assets. Instead, he only gained the right to use a state-owned dacha.

The president still owns a 131.9-square-meter (1,420-square-foot) apartment in Kyiv, two garage spaces, and shares in two other apartments co-owned with the Shefir brothers, his long-time business partners. The declaration also lists a lease on a 91.9-square-meter property in the UK.

President Volodymyr Zelensky (R) and his wife, Olena Zelenska (L), pose for a photograph ahead of the social dinner during the NATO summit at the Presidential Palace in Vilnius, Lithuania, on July 11, 2023. (Ludovic Marin / AFP via Getty Images)

His wife Olena Zelenska owns a 129.8-square-meter apartment in Crimea, which they bought in 2013 and currently have no access to due to the Russian occupation of the peninsula, and owns a 269.7-square-meter apartment with two parking spaces in Kyiv through her Cyprus-registered company Aldorante Limited.

Zelensky and his family own some $1.1 million in total monetary assets, with 346,483 euro ($375,040) in a Swiss bank account.

Before taking office in 2019, Zelensky declared about $780,000 in monetary assets, primarily from passive income on previously accumulated wealth and earnings from real estate sales.

Their 2024 income was Hr 15,286,193 ($368,556), comprising of Hr 8,585,532 ($207,000) from government bonds, a presidential salary of Hr 336,000 ($8,095), and Hr 6 million ($144,578) from rentals, plus interest and royalties.

His vehicles include a 2016 Land Rover, while his wife Olena drives a 2014 Mercedes-Benz S 500 4Matic — those haven’t changed since 2019, either.

Head of the president’s office is paid more than the president

Andriy Yermak, head of the presidential office, earned a salary of Hr 582,256 ($14,556) in 2024, around 44% higher than his boss's.

The president's salary is fixed and doesn't include additional payments, whereas other political and civil servant positions such as ministers and the head of the presidential office, receive compensation consisting of a base salary plus allowances and bonuses, which in practice make up the majority of their total pay.

Yermak declared monetary assets totaling $300,263, which includes Hr 4,980,000 ($124,500) received from Garnet International Media Group, a company in which he owns a 49% stake. Yermak worked as a media lawyer and film producer before joining Zelensky’s team in 2019, first as an aide, and soon as the head of his office.

His declaration also includes a 2019 Mercedes-Benz S-Class.

Head of the Presidential Office Andriy Yermak takes part in a forum with the participation of heads of state institutions in Kyiv, Ukraine, on Aug. 27, 2024. (Viktor Kovalchuk / Global Images Ukraine via Getty Images)

Petro Poroshenko's Old Masters art collection

Former President Petro Poroshenko, currently the most prominent opposition figure in Ukraine, and by far the richest, owns an art collection containing 49 masterpieces by famous artists from the 15th to 20th centuries, including works by Titian, Peter Paul Rubens, El Greco, Pierre-Auguste Renoir, and Ivan Aivazovsky.

The collection features works from various periods and styles — from Italian Renaissance religious paintings to Impressionism, as well as pieces by classic Russian and Ukrainian artists. The value of the collection is not specified.

Other valuable possessions include luxury watches, designer clothing, handbags, jewelry, furniture, a grand piano, and various electronics.

Poroshenko built his fortune as the founder of Roshen, one of Eastern Europe's largest confectionery companies, with shares now formally owned by his son Oleksiy, though they remain listed in Petro's declaration under anti-corruption legislation requirements. In 2025, Forbes evaluated Poroshenko’s net worth to be $1.8 billion.

He and his wife Maryna hold a total of approximately $135 million in monetary assets, a lot of it in cash.

Ukrainian President Petro Poroshenko and his wife, Maryna Poroshenko, pray during the Orthodox Christmas service at St. Sophia Cathedral in Kyiv, Ukraine, on Jan. 7, 2019. (Pavlo Conchar / SOPA Images / LightRocket via Getty Images)

Poroshenko and his wife own over 20 properties, including apartments in Kyiv and Vinnytsia. Most were acquired before the full-scale invasion, including a 1,331-square-meter house in Kozyn near Kyiv with over 4 hectares of land.

The Poroshenkos' vehicle collection includes several cars and motorcycles: a Honda CMX 1100D motorcycle (2021), a Volvo S90 Inscription (2021), a Mercedes-Benz S500L (2014), and a Mercedes-Benz S600L (2015).

In late April, Poroshenko’s wife filed a lawsuit to divide the couple’s property, sparking divorce allegations. Poroshenko’s party promptly said that the lawsuit was a tactic to protect the couple’s assets from President Volodymyr Zelensky’s sanctions targeting Poroshenko.

Yulia Tymoshenko’s $4 million loan to her daughter

The Batkivshchyna party leader Yulia Tymoshenko is notorious for filing relatively modest declarations while enjoying a luxurious lifestyle.

According to her declaration, Tymoshenko doesn’t own any real estate but she and her husband rent a 588-square-meter house. The rental price is not specified. The only real estate the couple owns is a small garage in their hometown of Dnipro.

Meanwhile, the Batkivshchyna party leader owns a jewellery collection that includes pieces from luxury brands like Mikimoto, Chanel, Cartier, Chopard, and Dinh Van.

According to Tymoshenko's asset declarations, she and her husband have a total of about $1 million in cash, most of it owned by her husband, and about Hr 1.6 million ($38,000) in a bank.

Tymoshenko also lists a $4 million loan to her daughter Yevhenia.

Former Ukrainian Prime Minister Yulia Tymoshenko speaks about the Russian attacks on Ukraine in Kyiv, Ukraine, on March 7, 2022. (Emin Sansar / Anadolu Agency via Getty Images)

Yuriy Boyko's Russian parking space

Yuriy Boyko the pro-Russian lawmaker and former head of the banned Opposition Platform — For Life — has an apartment and a parking space in Russia, as well as significant gold deposits in a Russian bank.

Boyko, a parliamentary member since 2007 and former deputy prime minister under ex-President Viktor Yanukovych, has a long history in Moscow-aligned political factions.

In a Dec. 14 video on TikTok, Boyko echoed pro-Russian narratives about alleged "radicals" in Ukraine and restrictions on language and religion, later apologizing for his actions.

The Boyko family holds a total of financial assets worth $3.8 million, part of which is kept in "NK Bank" in Moscow — $38,770 in rubles and $49,770 in gold.

Among the vehicles owned by Boyko, the declaration lists only a 2006 Mercedes-Benz and a 1978 VAZ, while his wife owns two pieces of agricultural machinery.

Lawmaker Yuriy Boyko talks to the press after the morning extraordinary session of Ukraine's parliament in Kyiv, Ukraine, on Feb. 24, 2022. (Yevhenii Zavhorodnii / Global Images Ukraine via Getty Images)

Ruslan Stefanchuk's 5,000-book scientific library

The speaker of Ukraine's parliament maintains an impressive personal library with approximately 5,000 scientific literature books.

Ruslan Stefanchuk has declared total monetary assets of $188,506, with nearly $10,000 belonging to his wife, Maryna.

He and his wife own two cars — a 2015 Renault Captur and a 2018 Mitsubishi Outlander.

Chairman of the Verkhovna Rada Ruslan Stefanchuk takes part in a forum with the participation of heads of state institutions in Kyiv, Ukraine, on Aug. 27, 2024. (Viktor Kovalchuk / Global Images Ukraine via Getty Images)

Deputy Prime Minister Olha Stefanishyna's modest $16,150 savings

Ukraine's Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna maintains the smallest savings among top officials.

In 2024, she earned a salary of Hr 1,155,382 ($28,184) and received Hr 220,000 ($5,366) in alimony for her two children. She has $16,150 in savings.

According to her asset declaration, Stefanishyna owns a plot of land and three apartments in Odesa Oblast, two of which are jointly owned.

She owns a 2009 Toyota RAV4, which she purchased in 2012. Her declaration does not list any valuable personal belongings.

Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna attends the Congress of Local and Regional Authorities under the President of Ukraine in Kropyvnytskyi, Ukraine, on Aug. 20, 2024. (Ukrinform / NurPhoto via Getty Images)

First Deputy Prime Minister Svyrydenko earns $75,000 teaching in private university

First Deputy Prime Minister and Economy Minister Yulia Svyrydenko declared earning Hr 3.1 million ($74,910) teaching at the private Kyiv School of Economics (KSE) in 2024. This teaching income significantly exceeds her government salary of Hr 1.2 million ($29,113).

KSE is led by Tymofiy Mylovanov, who previously headed the Economy Ministry where Svyrydenko served as his deputy. A recent report by Ukrainska Pravda confirmed that KSE is performing analytical and consultant services for Svyrydenko's ministry, paid for by a European Union 1-million-euro grant.

Opposition MP Vladimir Aryev has alleged a conflict of interest and filed a complaint with anti-corruption authorities. Mylovanov dismissed this as a "political attack," while Svyrydenko explained she teaches as a professor of practice under three contracts.

According to her declaration, she has $13,059 in total savings.

First Deputy Prime Minister and Minister of Economic Development and Trade Yuliya Svyrydenko speaks at the Ukraine Recovery Conference in London, United Kingdom, on June 21, 2023. (Kirsty Wigglesworth / Pool / AFP via Getty Images)

Andrii Sybiha's Ukrainian liberation movement artifacts

Foreign Minister Andrii Sybiha declared one of the most niche collections of any lawmaker.

He owns an extensive collection of Ukrainian artifacts including rare books, manuscripts, paintings, jewelry, religious items, documents, photographs, and uniforms of 20th century Ukrainian liberation movements.

Sybiha keeps all his monetary savings in cash, with $129,902 in total monetary assets, mostly in U.S. dollars.

Foreign Minister Andrii Sybiha speaks during a NATO Foreign Ministers' meeting at NATO headquarters in Brussels, Belgium, on Dec. 3, 2024. (John Thys / AFP via Getty Images)

Defense Minister Rustem Umerov's pet tech investments

Ukraine's Defense Minister owns 1.9 million shares in the US-based pet technology company with Ukrainian roots Petcube, a pet monitor with built-in speakers, microphone, camera, Wi-Fi, and laser pointer linked to an app.

Umerov reported total monetary assets of $107,155, which include an unaccepted creditor's claim of $18,239. Both he and his wife, Leila, hold accounts at U.S. JPMorgan Chase Bank, with balances of $1,788 and $1,188, respectively.

In 2024, Umerov earned a total income of Hr 4.9 million ($119,531), consisting of Hr 1.6 million ($41,000) from his ministerial salary and Hr 3.3 million ($84,600) from selling securities and corporate rights in Black Sea Company LLC.

Rustem Umerov stands in the Ukrainian parliament during voting on his nomination as defense minister in Kyiv, Ukraine, on Sept. 6, 2023. (Andrii Nesterenko / AFP via Getty Images)

Vitali Klitschko's $23,132 white Yamaha grand piano

Kyiv's mayor and former boxing champion owns a white Yamaha grand piano worth nearly $25,000.

Also among his valuable possessions are a 19th-century antique stone clock by Jacques Murray & Co and seven watches — by Frank Muller, IWC, and Montblanc.

Klitschko declared total monetary assets of $2,600,338, with 30,000 euro ($32,100) loaned to his younger brother Volodymyr.

According to his declaration, Klitschko earned Hr 2.7 million ($65,060) in 2024.

His declaration includes several vehicles — a Fine Custom Puncher motorcycle, an Ironhorse Widebody trailer, as well as a Land Rover Discovery, purchased in 2023. Klitschko also listed free use of three Toyota vehicles.

Kyiv Mayor Vitali Klitschko stands near military trucks at the City State Administration in Kyiv, Ukraine, on Dec. 26, 2023. (Oleksii Samsonov / Getty Images)

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