Estonia may get its own Forbes billionaire
15.03.2011, 09:01Estonian businessman Hillar Teder who owns part of a Russian supermarket chain O’Key and has several real estate projects underway in Ukraine may soon become the first Estonian to make it into the Forbes list of billionaires, writes Äripäev.
However, in the race between the three Baltic countries Teder who is believed to be worth 300 million dollars is second behind Lithuanian businessman Nerijus Numavicius who owns Maxima supermarket group and has three times as much, 960 million dollars.
Teder who owns 11% of O’Key has said that his objective is to list his real estate developments in Ukraine. If successful, he may soon be worth a billion.
The two Russian business partners of Hillar Teder who both own 32% of O’Key are in the Forbes list with estimated worth of a billion dollars each.
Teder himself remains modest and says that sometimes journalists tend to value assets higher than what is their actual value. He added that his two Russian business partners are in the Forbes list because they own a stake in St. Petersburg Bank.