Rinat Akhmetov bought a five-level apartment in Monaco for $554 million 0 104

The richest businessman in Ukraine, Rinat Akhmetov, has purchased a huge five-level luxury apartment in Monaco's most prestigious new residential project for $554 million, making the deal one of the largest in the history of individual housing sales. This was reported by Bloomberg agency. The 21-room property on the waterfront, acquired by the businessman’s holding company, is located in the Maraterra area. The new district, built on reclaimed land, was opened by Prince Albert II in 2024 and has already attracted the attention of ultra-wealthy investors from around the world. The apartment is located in the flagship building Le Renzo and occupies about 2,500 square meters, not including balconies and terraces overlooking the Mediterranean Sea. It also features a private pool, a jacuzzi, and at least eight parking spaces. Details of the sale, completed in 2024, are contained in the property registries of the principality, as well as in a mass of emails and preliminary ownership documents. Akhmetov's holding company, System Capital Management, or SCM, confirmed that it made the acquisition in this project but declined to provide details about the property or its price. "SCM's international investment portfolio has included a separate portfolio of premium real estate for over ten years, as has been publicly reported multiple times," the company stated. "Among its assets is the Le Renzo project, in which we invested in the primary market in 2021." The stated price would make this deal the largest known residential sale in history, surpassing the recent sale of a mansion by developer Nick Candy in Chelsea for over $350 million or the sale of a penthouse in New York to hedge fund manager Ken Griffin for about $240 million. Note: Monaco, located on the rocky coast between France and Italy, has long remained the most expensive real estate market in the world due to its small area and status as a tax haven. The Maraterra project has been under construction for over a decade. It includes 114 luxury villas, townhouses, and apartments located around gardens, a harbor, and a public promenade. Reminder: Forbes magazine updated its annual ranking of the world's richest people on March 10. The richest Ukrainian remains Rinat Akhmetov, owner of the DTEK and Metinvest groups. As of March 2026, his net worth is estimated at $7.8 billion.