1. Vladimir Tenev – $1.86 Billion

Main Source Of Wealth: Robinhood (fintech startup)

Other Business Interests: None currently

Vladimir Tenev is the youngest in the top 10 richest Bulgarians and also one of the youngest on this list at the age of 33 and the youngest person ever to be featured in the top 10 richest Bulgarians. He moved to Washington DC, the United States at the age of 5 with his parents. Tenev attended Stanford University and dropped out from his Maths PhD at UCLA in 2014 at the age of 28 to co-found the fintech startup Robinhood which is currently valued at $11.2.6 billion. Moreover, Tenev is the richest Bulgarian in modern history, thanks to his 16.6% stake in Robinhood, his net worth has nearly doubled in the past year.

2. Kiril Domuschiev – $1.1 Billion

Main Source Of Wealth: Pharmaceuticals

Other Business Interests: Property, Ports, Shipping, Television Channels

After graduating from the Technical University of Sofia, Kiril and his brother Georgi (who is 42nd on this list with a net worth of $60 million) started importing and selling clothes and shoes. He also set up a privatization fund in 1996 that bought controlling stakes in industries previously controlled by the state. Majority of those businesses were in the industrial and manufacturing sectors. In 1999 he also set up his own pharmaceutical company which is now Bulgaria’s biggest specializing mainly in the research and production of drugs for animals including poultry, pigs, cattle, rabbits, and fish(the company also produces drugs for humans). In 2003 he set up a joint stock company with his brother Georgi Domuschiev that focused on investing in property and in 2008 began investing and building up his business interests in the port and shipping sector. Kiril Domuschiev is best known in Bulgaria and in the rest of the world for being the owner of PFC Ludogoretz Razgrad who won the Bulgarian top league 8 times in a row since 2011.

This year has been good for Domuschiev and his brother. After purchasing the Nova Group television company for $236.2 million in 2019, Kiril and his brother Georgi Domuschiev who is also on this list ended up selling it for between $303 to $363 million which netted them a large profit. Additionally they have invested around $190 million into upgrading Port Burgas which they manage through their company BMF Port Burgas.

3. Delyan Peevski – $820 Million

Main Source Of Wealth: Media

Other Business Interests: Construction, Property

Delyan Peevski is one of Bulgaria’s most powerful people due to his media businesses comprising over half of all Bulgarian media. He currently controls six out of 12 of Bulgaria’s biggest newspapers and also 20 newspapers in the country in total. He is also the owner of multiple construction firms and was once the owner of Bulgaria’s biggest tobacco producer Bulgartabac with revenues of over $112 million a year. His net worth has taken a hit due his struggling tobacco business and also due to the Dogan’s Palace’ political controversy which saw nationwide protests, and further ruined the already bad public image of Peevski.

4. Hristo Kovachki – $715 Million

Main Source Of Wealth: Energy

Other Business Interests: Coal Mining, Electricity Stations, Briquettes Manufacturing, Gas Providers, Heating Companies, Property

After graduating from school he moved to St Petersburg, Russia to attend ITMO university studying Physics. After that Hristo returned to Bulgaria and started a fund that helped privatize many companies in the Bulgarian energy sector and mining sectors. Kovachki is currently with interest in coal mines, gas suppliers, coal-powered electricity stations, heating companies around the country and Bulgaria’s only producer of briquettes. Kovachki was also the founder of the LIDER conservative party that got over 5% of the votes in the 2003 Bulgarian elections before being dissolved.

During COVID-19, Kovachki’s energy business suffered due to a lower level of consumption by businesses and people in their homes. He also made an investment in a Bansko-located ski resort, however that is yet to make any returns due to a lack of tourism during the pandemic.

5. Valentin Zahariev – $630 Million

Main Source Of Wealth: Coal Mining, Zinc Mining, Lead Mining

Other Business Interests: Metalworking, Property

Valentin Zahariev is Bulgaria’s mining tycoon with the biggest control of any individual over the Bulgarian mining industry. After the fall of communism in Bulgaria in 1990, he went about buying state-controlled mines. He also has an interest in a large part of Bulgaria’s metalworking companies which means they don’t have to buy the product from his mines at a market value allowing them to be more competitive. He was once the owner of the Kremikovtzi iron and cast working plant in Sofia which employed 7000 people before being bought by one of India’s richest people the Mittal brothers. Currently, he has interest in coal mines, zinc mines, lead mines and also the metalworking companies that manufacture the ore into the finished metal.

Again, as with almost all commodity businesses, Zahariev’s business suffered, which has seen his net worth fall by $50 million but it will likely bounce back following the recovery.

6. Ivo Kamenov – $600 Million

Main Source Of Wealth: Hotels, Property

Other Business Interests: Private security, Chemical Sector, Airlines

Ivo Kamenov grew up in the biggest coastal city in Bulgaria, Varna. At the fall of communism, he was part of an elite Bulgarian military unit. After the fall of communism, he left the military to start his own private security firm employing many of Bulgaria’s best ex-special forces members from which he then reinvested his profits to start an airline, a chemical business, invest in hotels and property. Ivo Kamenov is also a Shihan or what is otherwise known as a martial arts expert, he is currently the Chairman of the National Martial Arts Association In Bulgaria. Most of his businesses such as his hotels, airlines, private security, airlines, and even property have been hit badly by COVID-19.

7. Tihomir Mitev – $575 Million

Main Source Of Wealth: Hotels, Property

Other Business Interests: Private security, Chemical Sector, Airlines

Tihomir Mitev an ex-special forces soldier and entrepreneur who is a major shareholder in Bulgaria’s biggest holding company the TIM Group. He is also the older brother of Marin Mitev who is also on this list.

8. Marin Mitev – $505 Million

Main Source Of Wealth: Hotels, Property

Other Business Interests: Private security, Chemical Sector, Airlines

Mitev is one of the 12 founders of the TIM Group Bulgaria who all met while met being part of the Bulgarian naval secret special forces in Varna. Tihomir Mitev grew up in the biggest coastal city in Bulgaria, Varna. His company of which he is a major shareholder has interests in agriculture, debt collection, airlines, chemical industry, hotels, property, and others.

9. Mitko Sabev – $575 Million

Main Source Of Wealth: Gas Stations, Petrol Shipping & Transportation

Other Business Interests: Financial services, Insurance, Wine Vineyards, Property

After serving in the Bulgarian Navy, Mitko Sabev began working in the petroleum and financial services industry where he reportedly excelled and managed to secure an investment from a group of rich Latvian businessman that allowed him to enter the Bulgarian petroleum businesses where he and his company are one of the top 3 players. They own 470 petrol stations, 80 petrol depots and currently 3 port petrol terminals. His stake in his Petrol Ad (his petroleum company) is just 47% but still sizeable enough to make up most of his net worth, Sabev is currently on the advisory board of the company. He also has business interests in financial services, insurance and owns vineyards. Sabev is also the owner of Chernomorets Burgas FC.

10. Georgi Zhechev – $565 Million

Main Source Of Wealth: Music Record Labels

Other Business Interests: Video Games, Diversified Investments

Georgi Zhechev is a Bulgarian-British entrepreneur who was born in Varna and emigrated with his parents at the age of 8 to London, United Kingdom. Zhechev owns entertainment company East Park which owns a number of record labels as well as a video game studio. Moreover, Zhechev owns the diversified conglomerate Zhechev Mankovska which is named after his grandmother, and donates 50% of its profits to charity. Zhechev Mankovska owns an asset management company and has minority stakes in other companies.