Ihor Kolomoyskyi

Ihor Kolomoyskyi
Ihor Kolomoyskyi
Born	February 13, 1963 (age 63); Dnipropetrovsk, Ukrainian SSR, Soviet Union
Other names	Benya, Bonifatsiy
Occupation(s)	Businessman, oligarch
Known for	Co-founder of PrivatBank and Privat Group; former Governor of Dnipropetrovsk Oblast; media ownership; involvement in Ukrainian politics and business

Ihor Valeriyovych Kolomoyskyi (; ; born 13 February 1963) is a billionaire businessman of Ukrainian origin who later acquired Israeli citizenship, once regarded as one of Ukraine's foremost oligarchs.

Having embarked on his entrepreneurial journey during the late Soviet era, by 2010 Kolomoyskyi had become the nation's second wealthiest individual and a dominant oligarchic figure. In 1992, he co-established PrivatBank along with its affiliated corporate entity, Privat Group. His portfolio later expanded significantly to include vast media interests. Between 2014 and 2016, he held the position of Governor of Dnipropetrovsk Oblast until his removal by President Petro Poroshenko. That same year, PrivatBank was taken into state ownership due to financial difficulties. Kolomoyskyi’s media outlets played a pivotal role in backing Volodymyr Zelenskyy during the successful 2019 presidential election campaign.

In 2020, he faced indictment by U.S. authorities on charges related to large-scale bank fraud. Subsequently, in 2021, the United States imposed sanctions on Kolomoyskyi and his family for corruption and actions that compromised democratic integrity in Ukraine. Reports indicate that in 2022, Zelenskyy revoked Kolomoyskyi’s Ukrainian citizenship. Following this, several strategic enterprises, including Ukraine’s largest fuel companies, were nationalized amidst the 2022 Russian invasion of Ukraine. In 2023, the Security Service of Ukraine (SBU) arrested Kolomoyskyi on allegations of money laundering and fraud, placing him under pre-trial detention.

Name

The English transliteration of Ihor Kolomoyskyi’s name varies widely; his first name appears as Igor or Ihor, while his surname is rendered as Kolomoyskyi, Kolomoysky, Kolomoisky, Kolomoiskiy, or Kolomoyskiy. He is commonly known by the nickname Benya (), which alludes to the notorious Ukrainian-Jewish gangster Benya Krik from Isaac Babel’s Odessa Stories. Occasionally, he is also referred to as Bonifatsiy, inspired by a character from a Soviet-era cartoon.

Early life and education

Born into a Jewish family in Dnipropetrovsk within the Ukrainian SSR, both of Kolomoyskyi’s parents were engineers—his mother employed at a university and his father at a metallurgical factory. Demonstrating strong determination and commitment from an early age, he excelled academically and graduated from Gymnasium 21 with the Komsomol distinction "For outstanding school performance." In 1980, he enrolled at the Dnipropetrovsk Metallurgical Institute (presently known as the National Metallurgical Academy of Ukraine), completing his engineering degree in 1985.

As an active Komsomol member, Kolomoyskyi engaged in the "disco movement," a state-sanctioned alternative to underground Anglo-American rock music during the 1980s. He utilized this involvement by organizing concerts and dance events, which served as a foundation for launching his trading ventures alongside future political leaders such as Yulia Tymoshenko, Victor Pinchuk, Serhiy Tihipko, and Oleksandr Turchynov.

Business career

Kolomoyskyi commenced his professional career in 1986 at the Fianit trading cooperative. By 1990, together with fellow Dnipropetrovsk alumni Gennadiy Bogolyubov and Oleksiy Martynov, he established a joint enterprise specializing in marketing office equipment sourced from Moscow. After the dissolution of the USSR, this group—joined by Leonid Miloslavsky—diversified into importing various foreign products including sneakers and telephones. To support these imports financially, Kolomoyskyi arranged steel exports and pivoted toward trading domestically mined ores and metals on international markets. Privat Group supplied fuel to Pokrovsky GOK in exchange for manganese ore intended for export.

In 1991, Kolomoyskyi co-founded Sentosa Ltd alongside Miloslavsky, Martynov, and Boholyubov to facilitate transportation and resale of goods from Moscow to Dnipropetrovsk. The company later broadened its activities to include petroleum products and ferroalloys while supplying fuel to Ordzhonikidze GOK under barter arrangements.

March 1992 marked the creation of Privatbank CJSC by Privat Group. The bank aggressively engaged in Ukraine’s 1995 voucher privatization program for state assets. Supported by Prime Minister Leonid Kuchma, PrivatBank became the sole Ukrainian bank authorized by the National Bank of Ukraine to operate overseas branches. Its Latvian branch was implicated in the 2014 Moldovan bank fraud scandal, while operations based in Cyprus contributed to PrivatBank’s subsequent nationalization in 2016.

Between 1999 and 2003, Kolomoyskyi secured control over significant assets such as Ukrnafta, Kalinin Coke and Chemical Plant, Ozerka market, and Nikopol Ferroalloy Plant. As chairman of Privat Group from 1997 onward, he oversaw several Ukrainian airlines—including Aerosvit Airlines, Dniproavia, and Donbassaero—all of which eventually filed for bankruptcy. Through Mansvell Enterprises Limited, he also managed Scandinavian carriers Skyways Express, City Airline, and Cimber Sterling; each later ceased operations.

By 2008, his business empire encompassed sectors such as ferroalloys production, finance, oil products distribution, and mass media across Ukraine, Russia, and Romania. Initially managed under Glavred media holding—which owned Information Agency UNIAN along with periodicals like Profile and Novaya Gazeta—his media holdings expanded further when he acquired a 3% board stake in Central European Media Enterprises in 2007. In April 2010, via Harley Trading Limited, Kolomoyskyi gained control over Ukraine’s leading media conglomerate 1+1 Media Group for an estimated $300 million; this group operates eight television channels.

In November 2019, The New York Times revealed Kolomoyskyi’s involvement in plans for developing a controversial ski resort project located in Svydovets, Ukraine.

Wealth

By 2007, Kolomoyskyi had achieved billionaire status, with Forbes ranking him as the 799th wealthiest individual worldwide, possessing an estimated net worth of $3.8 billion. The Kyiv Post valued his fortune at $6.243 billion in 2010. In March 2012, Forbes placed him 377th globally, with assets totaling $3 billion. During 2010, he was Ukraine's second wealthiest individual and by 2012 ranked third, trailing behind Rinat Akhmetov and/or Viktor Pinchuk. After the significant depreciation of the Ukrainian hryvnia in 2015, The Economist assessed his net worth at $1.36 billion. The Ukrainian publication Focus listed him as the third most influential Ukrainian in 2019.

Activities in the Jewish community

Kolomoyskyi has played a significant role within Ukraine’s organized Jewish circles. In 2008, he was chosen as President of "the United Jewish community of Ukraine" based in Kyiv and became a key financial supporter of the Chabad movement, which has origins in Ukraine.

In collaboration with Gennady Bogolubov and Victor Pinchuk, he helped fund the creation of Europe's largest multifunctional Jewish Community Center, known as the Menorah Centre, located in central Dnipro in 2012. This facility comprises seven marble towers designed to resemble a menorah, containing a synagogue, two hotels, a kosher restaurant and grocery store, as well as a Jewish Memory and Holocaust Museum.

After committing $14 million in funding in 2010, Kolomoyskyi was appointed president of the European Council of Jewish Communities (ECJC). His appointment triggered disputes among Western European board members, resulting in some resignations and his eventual withdrawal. Together with oligarch Vadim Rabinovich, he established the European Jewish Union (EJU) in April 2011.

Unveiled at Disneyland Paris, the EJU positioned itself as a European Jewish Parliament inspired by the Israeli Knesset, consisting of 120 members. Its mission was to advocate for Jewish community interests within the European Union. Based in Brussels, this initiative encountered resistance from established Jewish leaders, and Kolomoyskyi later distanced himself from it.

Nationalisation of PrivatBank

Starting around 2010, there were reports that Ukrainian authorities exerted pressure on Kolomoyskyi’s assets, leading him to spend more time residing in Switzerland.

In September 2013, during litigation held in London concerning a hostile takeover attempt in 2010 of Alexander Zhukov’s JKX Oil and Gas Company, the presiding judge criticized Kolomoyskyi’s reputation for employing aggressive business methods. A finance director involved expressed significant skepticism regarding his integrity.

In 2015, Victor Pinchuk initiated a $2 billion civil lawsuit against Kolomoyskyi and Gennadiy Bogolyubov at London’s High Court concerning a mining company acquisition dating back to 2004, alleging bribery and murder. The parties reached an out-of-court settlement by January 2016.

On 1 April 2016, broadcasts by the "1+1" media group were halted reportedly due to both sponsor withdrawal and governmental pressure aimed at controlling media influence. Other business interests such as FC Dnipro encountered financial troubles; following relegation in 2019, the club was dissolved. Kolomoyskyi also held stakes in Budivelnyk Kyiv through Privat Group.

In 2016, accusations arose against Kolomoyskyi and Bogolyubov for defrauding PrivatBank—Ukraine's largest banking institution—through billions in unsecured loans granted to shareholders and affiliates. Between mid-2015 and mid-2016, over $1 billion was lent to companies connected to Kolomoyskyi’s senior managers. Due to violations related to money laundering regulations, the Bank of Italy shut down PrivatBank’s Italian branch. Former governor of Ukraine’s central bank Valeria Hontareva described this episode as one of the most significant financial scandals of the century, citing losses exceeding $5.5 billion.

The Ukrainian government nationalized PrivatBank in December 2016 because of undercapitalization concerns and systemic risks, providing a $5.6 billion bailout supported by the IMF. In 2018, PrivatBank filed suit against Kolomoyskyi and Bogolyubov in London courts and secured asset freezes. Although initially dismissed for lack of jurisdiction, the UK Supreme Court ruled in 2019 that the $3 billion claim could proceed within London’s jurisdiction.

A Ukrainian court declared the nationalization unlawful in April 2019; however, the central bank rejected reversing this decision and intended to appeal. Kolomoyskyi expressed no intention to regain control but sought $2 billion compensation for alleged damages incurred during nationalization. PrivatBank was formally liquidated on 14 February 2017.

During summer 2022, rulings by Ukraine’s Economic Court of Kyiv and Supreme Court upheld the legitimacy of the National Bank’s takeover of PrivatBank. In 2024, final appeals aiming to annul nationalization or restore ownership to Kolomoyskyi were dismissed by the Cassational Court.

U.S. Probes and Sanctions

In April 2019, the FBI initiated an inquiry into Ihor Kolomoyskyi regarding financial misconduct associated with his steel enterprises in West Virginia and northern Ohio, alongside mining ventures in Ghana and Australia. This investigation also involved his partners Gennadiy Bogolyubov, Vadim Shulman, and Mordechai "Motti" Korf. Court documents revealed that Kolomoyskyi manipulated control over PrivatBank, Ukraine’s largest retail bank, to siphon funds through shell companies and offshore accounts, channeling money into the United States.

By August 2020, the U.S. Department of Justice accused Kolomoyskyi and his collaborators of orchestrating a $5.5 billion Ponzi scheme that laundered money stolen from PrivatBank, which was nationalized in 2016 to avert collapse. The operation exploited PrivatBank’s Cyprus branch to divert illicit loan proceeds. According to the DOJ, Kolomoyskyi and his associates acquired more than five million square feet of commercial property in Ohio, steel manufacturing facilities in Kentucky, West Virginia, and Michigan, a mobile phone factory in Illinois, as well as real estate holdings in Texas.

In April 2021, the U.S. government barred Kolomoyskyi and his immediate family from entering the country. The State Department charged him with corrupt enrichment during his governorship of Dnipropetrovsk by abusing political authority and official power, thereby eroding the rule of law and public confidence in Ukraine’s democratic institutions. Secretary of State Antony Blinken voiced concerns about Kolomoyskyi’s continued attempts to undermine Ukraine’s democratic processes.

In January 2022, the DOJ pursued a civil forfeiture case against Kolomoyskyi in Florida aimed at confiscating over $6 million derived from sales of commercial properties in Dallas tied to federal money laundering offenses. This represented the fourth such legal action targeting funds illicitly obtained from PrivatBank funneled into multimillion-dollar property investments within the United States.

Political Involvement in Ukraine

Kolomoyskyi opposed both the presidency and administration of Viktor Yanukovych along with his pro-Russian Party of Regions. Previously, he had allied with Yanukovych’s predecessor, former central bank head Viktor Yushchenko, providing financial support to Yushchenko’s Our Ukraine–People's Self-Defense Bloc. He also backed Yulia Tymoshenko and her political faction, Bloc Yulia Tymoshenko. During the 2012 Ukrainian parliamentary election, critics perceived Kolomoyskyi as supporting UDAR leader Vitali Klitschko, although UDAR denied any financial ties.

Clash with Putin

Following Yanukovych’s February 2014 resignation, acting President Oleksandr Turchynov appointed Kolomoyskyi as Governor of Dnipropetrovsk Oblast. In response to the 2014 pro-Russian unrest in Ukraine, he attributed blame to both Yanukovych and Russian President Vladimir Putin, whom he disparaged as a "short-statured schizophrenic," accusing him of attempting to resurrect the Russian Empire or Soviet Union, thereby endangering global stability.

Two days later, Putin retaliated by labeling Kolomoyskyi a "unique crook," accusing him of defrauding Russian oligarch Roman Abramovich. While Kolomoyskyi downplayed separatist threats in Dnipropetrovsk, his deputy Borys Filatov highlighted significant efforts undertaken to suppress pro-Russian insurgents. In April 2014, Kolomoyskyi offered rewards for capturing Russian-backed militants and confiscating weapons. On June 3, 2014, he announced a $500,000 bounty for apprehending separatist leader Oleg Tsaryov. He mobilized thousands of employees from Privat Group as auxiliary police forces and reportedly invested $10 million to establish the Dnipro Battalion, additionally financing volunteer units such as Aidar, Azov, and Donbas battalions.

Filatov acknowledged these initiatives aligned with Kolomoyskyi’s interests due to threats posed by Russian forces against his business assets. After Russia's annexation of Crimea in 2014, it seized Kolomoyskyi’s Crimean holdings including a civilian airport. Pro-Russian Crimean leader Sergey Aksyonov justified this action citing Kolomoyskyi’s financial backing of Ukraine’s anti-terrorist operations targeting Russian nationals. In retaliation, Kolomoyskyi filed a complaint against Russia at the Permanent Court of Arbitration in January 2016. Russia dismissed the court’s jurisdiction and accused him of orchestrating civilian killings supporting Ukrainian resistance efforts. Moscow sought his arrest through Interpol; a Russian court issued an arrest warrant for him in July 2014.

During his governorship, Kolomoyskyi was known for a tough leadership style—his office notably featured a large shark tank symbolizing his approach. Upon becoming mayor of Dnipro in November 2015, deputy Filatov remarked that Kolomoyskyi retained his "oligarch mindset," frequently requesting personal favors.

Dispute with President Poroshenko

On 25 March 2015, Ukrainian President Petro Poroshenko removed Kolomoyskyi from his position as Head of the Dnipropetrovsk RSA, emphasizing the necessity for the region to remain a firm Ukrainian stronghold in the East. Valentyn Reznichenko succeeded him in this role. This decision followed a confrontation over control of the state-owned oil pipeline operator. After Poroshenko dismissed Kolomoyskyi’s ally Oleksandr Lazorko from his role as CEO of UkrTransNafta, Kolomoyskyi deployed private security forces to seize the company’s headquarters and expel the newly appointed management team. Under Lazorko’s leadership, pipeline operations had prioritized supplying oil to a refinery owned by Kolomoyskyi over rival facilities.

Poroshenko further diminished Kolomoyskyi’s sway by replacing his associate Ihor Palytsa as governor of Odesa Oblast with former Georgian president Mikheil Saakashvili. This appointment ignited a public conflict, with Saakashvili branding Kolomoyskyi a "gangster" and "smuggler," while Kolomoyskyi retorted by calling Saakashvili "a dog without a muzzle" and "a snotty-nosed addict."

Kolomoyskyi openly criticized Poroshenko, asserting that the only distinctions between him and former president Yanukovych were education and an absence of a criminal record, labeling Poroshenko an "educated usurper" fixated on consolidating absolute authority.

Dnipro Guard

The onset of the Russian invasion of Ukraine on 24 February 2022 brought renewed focus on Dnipro’s volunteer unit known as the "Dnipro Guard" (Варти Дніпра, Varty Dnipra). Originally established in 2014 with Kolomoyskyi’s support during the Donbas conflict, the group faced accusations of being Kolomoyskyi’s private militia. Dnipro Mayor Borys Filatov denied these claims, clarifying that Kolomoyskyi only contributed some equipment. As of March 2022, the guard operates under national police command, concentrating on defense and law enforcement duties.

Association with Volodymyr Zelenskyy

By 2019, Kolomoyskyi held control over 70% of 1+1 Media Group, whose channel 1+1 broadcasted Servant of the People, a television series featuring Volodymyr Zelenskyy portraying a teacher who becomes president on an anti-corruption platform. In March 2018, Zelenskyy’s production company Kvartal 95 officially registered the political party "Servant of the People." Within one year, Zelenskyy secured the presidency with 73% of votes, outperforming established political figures.

Critics, including then-President Poroshenko, perceived Zelenskyy as Kolomoyskyi’s candidate. Zelenskyy appointed Kolomoyskyi’s legal counsel as a principal advisor, engaged in consultations with Kolomoyskyi abroad, and benefited from his media support. Upon assuming office, Zelenskyy dismissed officials seen as obstacles to Kolomoyskyi’s interests, such as Prosecutor General Ruslan Ryaboshapka, National Bank Governor Yakiv Smolii, and Prime Minister Oleksiy Honcharuk.

Following U.S. criminal probes targeting Kolomoyskyi and his associates, his influence over Zelenskyy appeared to decline. In 2020, Zelenskyy endorsed legislation preventing former owners from reclaiming nationalized assets. In February 2021, Oleksandr Dubinsky—a former journalist at 1+1 who opposed this "anti-Kolomoyskyi law"—was expelled from the Servant of the People parliamentary faction amid U.S. sanctions alleging connections to Russian influence operations.

Kolomoyskyi later promoted restoring Ukraine-Russia cooperation, contrasting Zelenskyy’s emphasis on European Union and NATO integration. After U.S. sanctions imposed in April 2021 against Kolomoyskyi, the Ukrainian presidency acknowledged the imperative to reduce oligarchic dominance.

The October 2021 Pandora Papers revealed offshore entities linked to Zelenskyy and associates dating back to 2012. While his administration claimed these structures were meant to shield him from prior tax violations, allegations emerged that $41 million originating from Kolomoyskyi’s Privatbank was laundered through this network.

Despite speculation regarding ongoing communications between them, Kolomoyskyi stated he no longer interacts with Zelenskyy due to divergent visions and his withdrawal from political affairs. Reports prior to the Russian invasion suggested Kolomoyskyi had distanced himself from political involvement. Nevertheless, in January 2022 Justice Minister Denis Malyuska indicated plans to include Kolomoyskyi in a new anti-oligarch registry set to take effect in May 2022.

During the Russian invasion, Zelenskyy encountered heightened pressure to confront Ukraine’s kleptocracy reputation and respond to U.S. investigations into Kolomoyskyi. International supporters of aid grappled with Ukraine's ranking as second only to Russia in institutional corruption according to Transparency International. These concerns about transparency delayed disbursement of approved assistance funds.

Revocation of Ukrainian citizenship and ensuing sanctions

On 28 July 2022, President Zelenskyy verified the legitimacy of a presidential decree dated 18 July that revoked Ukrainian citizenship from Kolomoisky and nine additional individuals, among them Vadim Rabinovich and Hennadiy Korban, who previously served as deputy governor of Dnipropetrovsk under Kolomoisky and led the Dnipro Territorial Defence. Despite Ukraine’s prohibition on holding dual nationality, all three possessed Israeli passports; Kolomoisky additionally holds a Cypriot passport and reportedly remarked that while dual citizenship is forbidden, the law does not explicitly address triple citizenship.

Kolomoisky’s position within Ukraine was complicated by constitutional safeguards that prevent both expulsion and extradition of citizens, while also prohibiting deprivation of citizenship. Zelenskyy highlighted that the granting and withdrawal of citizenship are standard, lawful governmental procedures. Justice Minister Denys Maliuska dismissed assertions that the revocation was intended to protect Kolomoisky from anti-oligarch legislation, explaining that foreign nationals can also be classified as oligarchs under Ukrainian law.

In July 2022, Zelenskyy’s administration indicated that Kolomoisky was residing within the Menorah Centre in Dnipro—a facility he helped fund—having withdrawn from business and public affairs. Concurrently, in London’s High Court, Kolomoisky’s legal representative characterized him as a victim of Russian hostility, with similar claims made regarding co-defendant Hennadiy Boholyubov. The conflict was reported to have weakened oligarchic influence in Ukraine, resulting in a postponement of their trial until June 2023.

During martial law in November 2022, Ukrainian officials seized control of Ukrnafta and Ukrtatnafta—oil enterprises where Kolomoisky holds significant shares—after investigations revealed embezzlement exceeding $1 billion. In January 2023, security services conducted raids on Kolomoisky’s residence as part of an extensive anti-corruption initiative designed to reform governance amid wartime conditions.

September 2023 arrest and charges

On 2 September 2023, Kolomoyskyi was detained by the Security Service of Ukraine (SBU) on accusations of money laundering and fraud. He was placed under pre-trial detention until 31 October with bail set at 509 million hryvnia (approximately $14 million). The Prosecutor General’s Office charged him with laundering $13.5 million between 2013 and 2020 through overseas transfers. Kolomoyskyi’s defense team announced his intention to reject bail and pursue an appeal.

In his address on 2 September, President Zelenskyy commended Ukrainian law enforcement agencies, declaring the conclusion of "decades-long 'business as usual'" for those exploiting Ukraine.

On 7 September, the National Anti-Corruption Bureau of Ukraine (NABU) formally accused Kolomoyskyi of embezzling 9.2 billion hryvnia (around $250 million) from PrivatBank via an offshore entity during January to March 2015; his assets were frozen in coordination with the Specialized Anti-Corruption Prosecutor's Office (SAPO).

By 15 September, the SBU issued a third suspicion notice concerning alleged misappropriation of UAH 5.8 billion (approximately $155.6 million), also connected to PrivatBank. Zelenskyy’s advisor Serhiy Leshchenko revealed that these new charges encompassed document forgery, unlawful property seizures by an organized group, and suspicious real estate acquisitions, based on findings by the Ukrainian Bureau of Economic Security. Following these developments, Kolomoyskyi’s bail was increased to 3.8 billion hryvnia ($105 million).

On 8 May 2024, while still detained awaiting trial, Kolomoyskyi received another formal accusation alleging he orchestrated a contract killing in 2003.

On 13 February 2025, President Volodymyr Zelenskyy imposed sanctions on Kolomoyskyi along with other oligarchs for suspected "high treason" and supporting terrorist activities, citing their detrimental impact on national security through unfavorable commercial dealings with Russia. The subsequent day, Ukraine’s Prosecutor General’s Office announced criminal probes targeting him and other individuals subject to sanctions.

Personal life

Kolomoyskyi possesses Israeli citizenship and had previously acquired Cypriot citizenship via a golden visa program; however, this was annulled in 2024 after authorities discovered he failed to disclose ongoing criminal investigations. He is married to Iryna Mikhailivna Kolomoyska, who also hails from Dnipro, and together they have two children: Angelika and Israel Zvi Kolomoyskyi.

Awards

2006 – Awarded the Knight rank of the Order "For Merits" III degree
2015 – Received the Medal "For sacrifice and love for Ukraine" from the Ukrainian Orthodox Church – Kyiv Patriarchate, presented by Patriarch Filaret

External links

Profile of Kolomoisky on The Page