Ukraine’s richest man buys €471M Monaco apartment in record-breaking deal

Ukrainian businessman Rinat Akhmetov has purchased a five-storey apartment in the Le Renzo building in Mareterra for €471 million, making it the most expensive residential transaction ever recorded worldwide.

Ukraine’s richest man has set his sights on an extraordinary property in one of Monaco’s most expensive neighbourhoods. According to documents reviewed by Bloomberg Businessweek, Rinat Akhmetov’s holding company, System Capital Management (SCM), has acquired a 21-room apartment spread over five floors in the Le Renzo building in Mareterra. The property covers approximately 2,500 m², excluding balconies and terraces overlooking the Mediterranean, and includes a private swimming pool, a jacuzzi and at least eight parking spaces. The transaction, finalised in 2024 according to the Principality’s land registry, is reported to be worth €471 million ($554 million).

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This figure is said to far exceed previous known records, notably the sale of property developer Nick Candy’s London mansion for over $350 million and that of a New York penthouse purchased by hedge fund manager Ken Griffin for around $240 million.

The Larvotto district, where Mareterra is located, has become the most expensive area in the Principality. According to the latest IMSEE report published in February 2026, the estimated price per square metre there has, for the first time, crossed the €70,000 threshold, reaching €71,167 in 2025, representing a 2.2% increase year-on-year. New developments in the 2020–2029 period there average €71,241 per square metre, with prices exceeding €100,000 per square metre for certain properties in Mareterra.

Rinat Akhmetov, president of the Ukrainian football club Chakhtar Donetsk, whose fortune is estimated at over $7 billion by the Bloomberg Index, already owns Villa Les Cèdres in Saint-Jean-Cap-Ferrat, acquired in 2019 for €200 million. The purchase agreement in Monaco was finalised shortly before the Russian invasion of Ukraine in February 2022, a conflict that subsequently had a significant impact on the energy assets of his industrial conglomerate.