Who's the richest in Latvia?

Latvia's top 10 rich list for 2016 is dominated by bankers, with ABLV Bank owners Olegs Fils and Ernests Bernis topping the list of the 100 richest persons in Latvia for the fifth year in a row.

Fils' riches shrank €4m to €310m while Bernis' wealth also reduced €4m to €307m, according to a study by journalists Lato Lapsa and Kristine Jancevska produced by the Kapitāls magazine, corporate finance company Laika stars and Lursoft, reported LETA November 24.

Earlier this year ABLV bank was hit by a record €3.17m fine as Latvia's regulator found violations in the bank's internal control system. ABLV is the largest privately owned bank in Latvia.

Third place in the top 10 is taken by Leonīds Esterkins, who is a majority owner of Rietumu bank, which like ABLV has a history of serving non-resident clients from CIS countries. His riches declined by €16m to €250m. He took third place in last year's top 10 as well.

Mikrotīkls owner Arnis Riekstiņš' coffers grew an impressive €65m to €150m, boosting him one place and making him the fourth richest person in Latvia.

The value of assets belonging to Rietumu bank co-owner Arkādijs Suharenko shrank by €8m to €128m, and now he takes the fifth place instead of last year's fourth.

Property mogul Justs Nikolajs Karlsons kept last year's sixth place, having increased his wealth by €3m to reach the round figure of €80m. 

Jānis Zuzāns, the co-owner of the Alfor gambling company, remains seventh in the top as his assets have grown €4m to €69m. 

Olainfarm shareholder Valērijs Maligins' assets grew €7m to €52m, catapulting him to 8th place from last year's 10th.

Mārcis Martinsons, the owner of MM investīcijas investment company which his father Māris transferred to him, is in ninth place but his riches have decreased by €11m. 

Uldis Asars, owner of the AKZ forestry company, takes tenth place from last year's ninth, with his riches decreasing €3m to €45m.

The makers of the rich list said that while the value of the top ten asset holders continues to grow (€1.74 billion against last year's €1.41 billion), the asset value of the top 100 richest people is shrinking.

None of the top ten named by the report are women.

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