Top Ten Rich People in Armenia
Hayk Newspaper reports, that the Forbs - Armenian service soon to be launched in Armenia, will publish the following list of ten richest people in Armenia in the first issue of the magazine. Hayk draws readers attention to the fact, that 6 of the 10 people in the list are high ranking state officials.
Gagik Tsarukyan - businessman;
Armen Avetisyan - The Chairman of the State Customs Committee;
Mikael Baghdasarov - businessman;
Hrant Vardanyan - businessman;
Suqiasyan Family - businessmen;
Yervand Zakharyan - Mayor of Yerevan;
Robert Kocharyan - President of the Republic of Armenia;
Serge Sargsyan - RoA Minister of Defense;
Andranik Manukyan - Minister of Transport and Communication of the RoA;
David Harutyunyan - RoA Minister of Justice;
According to the same source, the personal worth of Gagik Tsarukyan is around 400-500 million dollars, while Serge Sargsyan’s somewhere around 150 million dollars. I wonder how the USD exchange rates are affecting those guys 
Interesting, but as many officials don’t declare their wealth or incomes properly, I’ guessing these figures are estimates? Do you have any idea?
Comment by Onnik Krikorian — 12/14/2006 @ 10:18 am
The Hayq newspaper is also troubled by this list: they say it is strange that Samvel Aleksanyan, Hovik Abrahamyan, Andranik Margaryan and Tigran Sargsyan haven’t made into the list. Moreover, it expresses surprise at finding, that Robert Kocharyan and Serge Sargsyan are so far below in the list, and suggests that they ought to be the first two.
I can’t say I like “Hayk” newspaper, but this article is definately intersting!!!
Comment by Observer — 12/14/2006 @ 12:43 pm
Here’s a direct link to the source of the information:
http://www.panorama.am/am/society/2006/12/13/z/
Comment by Observer — 12/14/2006 @ 12:46 pm
It’s interesting. I mean, I remember one analyst telling me in 2002 that he estimated Serzh Sarkisyan’s fortune at about $75 million. Then again, we have another problem in that some people believe that Tsarukian is a front for Kocharian or Serzh — probably the former given how Prosperous Armenia is haping up — whereas the Defense Minister is linked very closely to Baghdasarov.
Anyway, interesting to ponder and as you say, the first reaction of people is amazement that some officials have less than others. Everybody knows they’re loaded, of course.
Comment by Onnik Krikorian — 12/14/2006 @ 1:28 pm
According to “168 Hours” semiweekly, Armenian “Forbe’s” has already released, with the list published above.
Comment by Armen — 12/14/2006 @ 5:19 pm
I am shocked at how much money these guys actually have , though.
I didn’t realise it was this bad. Tsarukyan has 500 million ?!! It just goes to show, really, the whole country is stinking of money driven politics.
Comment by Harmick — 12/15/2006 @ 12:20 am
The original postings says Forbes soon to be launched, later reprints in other media say it has already been published… Today I came to work, people here are already call it “official rating”. Guys, I think our natural “բարի նախանձ” sensors have appreciated this information so much that we neglected its legacy. Who and how made those estimations? we have neighbour that does nothing but sitting in the yard from 9am to 9pm with tzvekh. I guess he is know employer by HayForbes. In 90’s he was swearing that Grzo’s net worth exceeded that of Kirk.
Lets calm down and discuss issues really deserving our attention. When will be posting about Jirayr Sifilyan? Anyoone interested in that?
Comment by Հայաստանցի — 12/15/2006 @ 11:26 am
Hi Hayastanci… I’m looking at the Forbes journal right now. Yes, you are right, it was launched today, so my original posting, saying that it isn’t launched is true, but doesn’t contradict with those saying that it was already printed, because in order for the journal to be in my hands today, it must have been printed at least yesterday
Regarding the “official rating” - I didn’t notice anyone at least on this blog, calling it anywhere near being official. Moreover, I’m reading the lines in Forbes (Page 9, Forbes Armenian Version, December 2006 issue)explaining, that this list can in no way be regarded as something serious. They have a lengthy discussion about the methodology, and I think it is only honest, that I don’t disclose it here, and suggest you to go buy the journal of your own and read it.
The other issue your brought up is: When will be posting about Jirayr Sifilyan? I have the following comments:
a) Onnik Krikoryan has covered the issue in his blog so well, that I didn’t find it necessary to create a false and needless sense of competition by doing one myself, especially as I’m very busy these days.
b) I also didn’t have anything more to say, or anything to say differently then Onnik has done, so why would I do it??? If you do have important points -
write an e-mail to blogrel@katypearce.org or myself at angry.root@gmail.com and you can almost be sure, that it will be posted on this blog.
Comment by Observer — 12/15/2006 @ 3:49 pm
I think it’s worth saying again that these figures can only be estimates as none of these guys are fully declaring their wealth or paying the appropiate amount of taxes for their personal income or businesses.
Interestingly, Serzh Sarkisyan has come out and said the same thing in response to claims that he’s worth so much. In particular, he says that the owner of the magazine is actually someone linked to Tsarukian so should therefore be careful what he says.
Still, we know these guys are loaded and avoiding paying their taxes and so on. In the case of Serzh, for example, we know that even his brother is loaded, but small fry compared to what is alleged about his bro.
Regarding Sefilyan, however, I’d just like to say that I wish Armenian blogs would link to each other more. For example, not every reader of this blog reads my blog and vice-versa so not necessarily does someone find out about a particular story. Besides, even if you have nothing to add it would still be interesting to hear your opinion, whether you disagree or agree, or whether you even care at all.
As an example, I could have left out mention of this Top Ten on my site, but rather than assume people had seen it on Blogrel I linked to it and added my own brief 2 cents. That’s how I think blogs should be — creating a network of original material, but also links to each other.
After all, that’s what trackbacks are really set up to show even if none of us seem to be using them. Unfortunately, the trackbacks option for my site doesn’t work unless you enter the full trackback URL and it’s only wordpress.com that seems to have them automatic by default.
Comment by Onnik Krikorian — 12/16/2006 @ 9:10 am
Hi Onnik, regarding the cross-linking issue… now that you spoke your mind I have to note, that I agree to everything you just said. Frankly I have been thinking of this issue since your post called 2007 Parliamentary Elections Monitor, which gave me the idea to post on the issue as well and your comments about it in your original post, where you said:
This got me thinking… maybe I misunderstood somethings, but that’s not the issue. I understood we need some sort of rules and models of cooperation, or “Terms and Conditions” type of something. The stakes are too high, and blogs have too great a potential to risk it and loose it to chaos. Moreover, I’ve been trying to develop some sort of a blogging/commenting nettiquette, especially geared towards commenting/posting in a multicountry / crossboarder environment (meaning: Armenians, Azerbaijanis, Turks, Georgians, Russians posting in the same blog), and thought your ideas and experience in this area would be very helpful. But you are even more busy then I am, so I’ve sort of given up my attempts to try and meet in person:D
At any rate this issue is worth paying some attention to, so if you do find time, let’s discuss it - at least electronically, if face to face meeting is impossible.
Comment by Observer — 12/16/2006 @ 4:05 pm
Well, let me just say this. We don’t have to link to each other, and also, we don’t have to agree. We can choose to link or not, and even if we do, we can agree or disagree. I think the most important thing is to provide reasoned arguments and to believe in the idea that constructive discussion is something we desperately need here.
So, actually, I don’t think we need to have Terms & Conditions other than to not engage in personal insults and threats. As for meeting, I sent you an email after your intitial mail suggesting the idea saying I could, but I guess you didn’t receive it. Anyway, something’s come up to make now a particularly important time to meet to talk about such things.
You’ll understand why when I tell you.
Anyway, think a meltdown of XP has lost me your telephone number, so drop me another email and we’ll arrange something.
Comment by Onnik Krikorian — 12/16/2006 @ 4:33 pm
I think this is outragous to see most of these guys are in politics and sucking out the poor public….
Shame on you calling yourselves ARMENIANS..
I hope some of you give back a little to the people, realize if they succeed, you prosper a lot more.
OWNING MONEY MEANS NOTHING IF YOU DON”T KNOW HOW TO USE IT…
Donating funds is the only way to make a person an unforgetable celebrity in the Armenian History….
Comment by Joel Albarian — 12/17/2006 @ 9:17 pm
well said Joel it is a shame that these politicians arent using their money in a more responsible and helpful way to our home country. its time to make a change!
Comment by Nareg — 12/18/2006 @ 10:26 am
only maybe 10% of those wealthy armenian people could save All armenian people in Iraq and let them out from that hell, Is any body listining???
Comment by Anahit — 4/12/2007 @ 8:45 am
This list should not be neither suprising Armenians nor being a reason of upheaval. It should serve as historical indictment document. Being wealty is not a crime. Curruption is, however. Andranik Manukyan, Minister of Transport and Communication of the RoA is a thug which has used everything in his hands to embazzle millions and millions from Haypost, ArmenTel, etc. Anyone remembers GT Communications, a California Corporation, which acted as passthrough for sale of ArmenTel to OTE. Over $75 million embazzeled. Andy Manukian, the thug was the hand behind this deal. $75 million in 1998! A lot of money. Tigran Sargsyan, the Central Banker of Armenian, turned into philosopher, is personally responsible for the fact that Armenian banking sector, over last 5 years became the weakest one in the entire CIS. It is one uarter of the size it should be. Why, Tiko the Banker, is planting his people into banks, blackmailing everyone and getting ownership positions for nothing. Tiko writes, “How to Do Revolutions”. Tiko jan, why dont you ask “People of Armenia: why dont you execute a banker turned into shady blackmailer and political boogyman. Armenian Rothschild, aborted in the first trimaster. Dodi Gago may be a primitive businessman using the loopholes in tax laws and friends in high places. But he is a businessman, after all. Ando and Tiko are political thugs, blackmailers, currupting entire industries and layers of Armenians.
Comment by Hakob — 11/11/2007 @ 3:05 am