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Forbes 2026: 10 Cypriot Billionaires Revolutionizing Global Industries

by THEFUTURE.TEAM

Overview

Forbes’ 2026 World’s Billionaires List features 10 Cypriot magnates whose fortunes span diverse sectors including shipping, infrastructure, real estate, software, and aviation. These business titans illustrate the dynamic blend of heritage and innovation, fueling global markets with their expansive investments and transformative enterprises.

John Fredriksen: Commanding The Seas

Net Worth: $21.2 Billion | Age: 81 | Citizenship: Cyprus | Ranking: 118 Worldwide

John Fredriksen, renowned for his shipping empire, has built a formidable portfolio that includes tankers, LNG carriers, and offshore drilling platforms. Launching his oil trading operations in Beirut during the 1960s, he now maneuvers his legacy through companies such as Seadrill and Mowi. Notably, Fredriksen is preparing to pass the reins to his twin daughters, Kathrine and Cecilie.

Vinod Adani: Powering Infrastructure

Net Worth: $20.8 Billion | Age: 77 | Citizenship: Cyprus | Ranking: 121 Worldwide

Vinod Adani, the elder brother of Gautam Adani, drives significant advancements in ports, airports, and green energy. Despite controversies including market manipulation allegations by Hindenburg Research in 2023, his strategic investments continue to shape vital infrastructure developments from his base in Dubai, UAE.

Yakir Gabay: Redefining Real Estate

Net Worth: $4.2 Billion | Age: 59 | Citizenship: Cyprus | Ranking: 1011 Worldwide

Transitioning from a career with Bank Leumi in Israel, Yakir Gabay has become a significant real estate investor in Europe. Holding major stakes in Aroundtown SA and Grand City Properties, his strategic property investments have solidified his status as a key player in the market.

Igor Makarov: Strategic Energy Investments

Net Worth: $2.3 Billion | Age: 63 | Citizenship: Cyprus | Ranking: 1834 Worldwide

Founder of Itera, Igor Makarov is recognized for his pioneering role in Turkmenistan’s natural gas exports and subsequent energy ventures. Collaborating with Rosneft in joint ventures, Makarov transitioned from Russian to Cypriot citizenship in 2023 to further expand his investment footprint.

Vladimir Krupchak: Building With Timber

Net Worth: $1.6 Billion | Age: 68 | Citizenship: Cyprus | Ranking: 2481 Worldwide

Vladimir Krupchak has diversified his wealth through his involvement with Arkhangelsk Pulp and Paper Mill and various Russian enterprises. His investments extend to the timber market via Titan Group, reflecting a blend of industrial vigor and political engagement, having also served in the Russian State Duma.

Stelios Haji-Ioannou: The EasyJet Legacy

Net Worth: $1.4 Billion | Age: 59 | Citizenship: Cyprus | Ranking: 2712 Worldwide

As the founder of EasyJet, Stelios Haji-Ioannou revolutionized low-cost aviation when he launched the carrier in 1995. Retaining a 4% stake in the airline, he has also expanded the family brand through easyGroup, licensing it to ventures such as easyHotel and easyCar.

Polys Haji-Ioannou: Upholding A Family Tradition

Net Worth: $1.4 Billion | Age: 66 | Citizenship: Cyprus | Ranking: 2712 Worldwide

Polys Haji-Ioannou, born into a family long synonymous with maritime excellence, maintains his family’s legacy within EasyJet and the shipping industry, overseeing a fleet of 14 tanker vessels. His contributions underscore the enduring influence of heritage in modern business.

Sergey Dmitriev: Innovating Through Software

Net Worth: $1.4 Billion | Age: 59 | Citizenship: Cyprus | Ranking: 2712 Worldwide

Co-founder of JetBrains, Sergey Dmitriev is instrumental in empowering over 10 million developers worldwide. His decision to renounce Russian citizenship in 2023 and embrace Cypriot nationality aligns with a broader vision of technological innovation and global expansion.

Clelia Haji-Ioannou: A Blend of Art And Aviation

Net Worth: $1.2 Billion | Age: 55 | Citizenship: Cyprus | Ranking: 3017 Worldwide

Clelia Haji-Ioannou, heiress to a shipping dynasty, plays a crucial role in EasyJet’s operations while diversifying her portfolio with substantial European real estate holdings and a private art gallery in Athens featuring renowned artists.

Valentin Kipyatkov: Software And Strategic Partnerships

Net Worth: $1 Billion | Age: 49 | Citizenship: Cyprus | Ranking: 3332 Worldwide

As a co-founder of JetBrains alongside Sergey Dmitriev, Valentin Kipyatkov has been pivotal to the firm’s growth and profitability. His sustained contributions in software development and strategic business maneuvers have cemented his reputation as a key player in the tech arena.

Conclusion

The diverse portfolios and strategic visions of these 10 Cypriot billionaires highlight a remarkable confluence of traditional industries and modern technological paradigms. Their global influence not only reinforces Cyprus’s growing prominence on the world stage but also serves as a testament to dynamic leadership and innovation in the competitive realm of wealth creation.

Mercedes-Benz Posts Higher Profit Despite China Slowdown

by THEFUTURE.TEAM

Mercedes-Benz reported stronger-than-expected second-quarter results, lifting its shares on Tuesday despite mounting pressure from Chinese automakers and a weaker outlook for sales and revenue.

The earnings provided a boost for Europe’s auto sector, where manufacturers continue to grapple with tariffs, softer demand and intensifying competition from Chinese rivals. Volkswagen, Mercedes-Benz and BMW have all accelerated restructuring efforts in response.

Cost Discipline Lifts Quarterly Profit

Mercedes-Benz shares rose as much as 5.9% following the results before trimming gains to trade 3.5% higher by 1118 GMT. The company reaffirmed its profit margin guidance for its core passenger car business after reporting an adjusted return on sales of 4.0% for the second quarter, above market expectations and within its 3% to 5% target range.

“In an environment where some automakers are ringing alarm bells on their competitive positioning, Mercedes delivered a clear and confident message,” Morningstar analyst Rella Suskin said.

Second-quarter operating profit increased 22% to €1.5 billion ($1.7 billion), despite a 3% decline in revenue. Lower administrative and research and development costs, together with strong performances from the financial services and vans divisions, supported earnings, while the results also included a €131 million gain related to the planned sale of leasing subsidiary Athlon.

China Remains The Key Pressure Point

Despite stronger profitability, Mercedes continues to face a challenging market environment. Sales in China fell 30% during the second quarter, prompting the company to abandon earlier expectations for stable car sales and group revenue. It now expects both to decline slightly from a year earlier.

BMW also lowered its outlook in June following a deeper-than-expected slowdown in China, highlighting the pressure facing Germany’s premium carmakers. At the same time, Mercedes said Chinese manufacturers are increasingly expanding into European markets, although Chief Executive Ola Kaellenius said their focus remains on higher-volume segments rather than the premium market.

“But that is not a reason to sit back and be relaxed,” he said.

Manufacturing Shift Continues

Mercedes is also reshaping its manufacturing footprint. The company said its German factories will undergo a more aggressive push toward leaner production, although it declined to provide further details while talks with labour representatives continue. Production is also being expanded in lower-cost Eastern European locations, including Hungary, where the company is increasing capacity at its Kecskemet plant, as well as in Poland.

Chief Financial Officer Harald Wilhelm said the full-year margin for the passenger car division is expected to come in at the lower end of the company’s guidance range, reflecting a higher share of electric vehicle sales in Europe, which remain more expensive to produce and continue to weigh on profitability.

“We must continue to work flat out to reduce costs so that we can remain competitive on the prices of our products,” Kaellenius said.

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