Former tennis player Ion Tiriac, 80, remains the richest Romanian, with an estimated wealth of over EUR 4 billion, according to a ranking compiled by local Business Magazin, based public data, market information and reports published on the Bucharest Stock Exchange.

Tiriac has been one of Romania’s richest since the fall of communism, with investments in banking, retail, insurance, car distribution, leasing, and real estate.

The valuation of Tiriac’s fortune takes into account EUR 750-800 million which he got for selling his stake in UniCredit Bank Romania, the value of his holdings in insurance group Allianz-Tiriac (EUR 110 mln), the value of the Madrid tournament (EUR 300 million) and his other assets in the country, plus about EUR 2 billion representing the value of his investments abroad “in stocks and properties.

His challengers are relatively new entrepreneurs: the owners of the Dedeman DIY chain Adrian and Dragos Paval, who diversified in the real estate and construction materials markets, with an estimated wealth of EUR 2.5 bln to EUR 2.6 bln, and Daniel Dines, the founder of tech unicorn UiPath, with an estimated wealth of EUR 1.4 bln, Ziarul Financiar reported.

The ranking comes just weeks after the local media wrote that Tiriac was no longer the richest Romanian. In recent years, Ion Tiriac has been the only Romanian billionaire included in the famous Forbes ranking, with an estimated net worth of USD 1.1 billion (in September 2019).

However, the meteoric rise of tech unicorn UiPath has turned its Romanian founder and CEO Daniel Dines into a billionaire as well, Forbes wrote recently, putting Dines on its September cover. UiPath is now valued at USD 7 billion and Dines, who holds 20% of the company, has a wealth of USD 1.4 billion, technically surpassing Tiriac in the Forbes ranking.

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editor@romania-insider.com