Pursuits

Billionaire No More: Ukraine President’s Fortune Fades With War

A production line at the Roshen Confectionary Corp. factory in Kiev, Ukraine. Photographer: Joseph Sywenkyj/Bloomberg

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By Volodymyr Verbyany, Kateryna Choursina and Alex Sazonov

May 8, 2015 at 4:00 AM UTC

Updated on

May 8, 2015 at 5:57 AM UTC

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At the November 2013 World Economic Forum in Kiev’s Intercontinental Hotel, billionaire Petro Poroshenko predicted a European Union trade pact would kick-start Ukraine’s economy and enrich his Roshen Confectionery Corp. by dramatically increasing EU-bound chocolate exports.

Eighteen months later, Poroshenko -- now Ukraine’s president -- has seen his wealth head in the other direction.