Analytics, Financial Services, Latvia

The value of Rietumu banka council chairman Leonids Esterkins' properties is LVL 71 million, whereas properties of the Lipmans family, Kirovs Lipmans and his spouse Anna, are estimated to be worth approximately LVL 65 million, writes LETA.

Fourth on the list is the joint-stock metallurgical company Liepajas metalurgs shareholder Sergejs Zaharjins with LVL 62 million, Aizkraukles banka co-owners Ernests Bernis and Olegs Fils with LVL 59 million and LVL 57 million respectively; real estate entrepreneur Justs Karlsons with LVL 55 million, former Parex banka owner Viktors Krasovickis and his daughter Aleksandra Krasovicka with LVL 50 million, the other former Parex banka owner Valerijs Kargins, together with his two sons Rems Kargins and Maksims Kargins – also with LVL 50 million. Next on the list is the Trasta komercbanka largest shareholder Igors Buimisters with LVL 47 million.

The study also reveals statistical data regarding the wealth of Latvia's 100 richest people and data analysis. According to the study, the total value of properties that belong to Latvia's 100 richest people has shrank by LVL 1 billion or one-third over a year, albeit some entrepreneurs did experience a steep surge in the value of their property.

Since company values have been shrinking also elsewhere in Europe and in other economically developed regions, the situation in Latvia should not be viewed as something extraordinary, it rather proves that Latvia is part of a single, united economic space where each recession is followed by revival and growth, Laika Stars board chairman Vadims Jerosenko said.