**Ukraine’s Tech Titans Make Their Mark in the US**
In a significant milestone for Ukraine, four Ukrainian billionaires have entered the top 10 countries by the number of billionaire immigrants in the United States. This achievement was reported on July 15 by Forbes Ukraine.
The combined fortunes of these four Ukrainian billionaires total $25.3 billion, with three of them making their wealth in the technology sector through companies like WhatsApp, OnlyFans, PayPal, and Affirm. This reflects Ukraine’s growing reputation as a tech powerhouse, where entrepreneurs are creating billion-dollar companies such as GitLab and Grammarly.
**A Closer Look at Ukraine’s Tech Success**
One of the Ukrainian billionaires, Jan Koum, ranks ninth on the list with a $16.9 billion fortune built from his time as WhatsApp’s co-founder. He sold the messaging app to Facebook for $22 billion in 2014 and now invests through his firm, Newlands.
Leonid Radvinsky, another Ukrainian billionaire, ranks 50th with $3.8 billion after acquiring OnlyFans in 2018. The adult entertainment platform generated $1.3 billion in revenue last year, enabling him to collect $1.1 billion in dividends since 2021.
Michael Polsky, a renewable energy developer, has propelled himself to 75th place with $2.5 billion through his company Invenergy LLC. His plans include building 1,000 wind turbines in Kansas and a massive 1,300-kilometer transmission line worth $7 billion.
Rounding out the group is Max Levchin, who brings $2.1 billion from his roles as PayPal co-founder and Affirm Holdings CEO. He owns nearly 11% of Affirm, which offers buy-now-pay-later credit services.
**A Record Number of Foreign-Born Billionaires in the US**
The United States now hosts a record 125 foreign-born billionaires from 41 countries, according to Forbes. This milestone highlights the growing influence and success of international entrepreneurs on American soil.
Ukraine’s tech sector has shown remarkable growth, with professionals increasing from 75,000 in 2014 to 307,000 in 2023, accounting for nearly 5% of the country’s GDP. However, Russia’s full-scale invasion has significantly impacted this sector, with up to 57,000 tech specialists moving abroad and another 52,000 relocating to safer western cities.
**Challenges Ahead**
Despite their success, Ukraine’s tech sector faces ongoing challenges due to martial law restrictions preventing male tech specialists from traveling abroad. This limits their ability to meet with international clients such as Deloitte, Siemens, Google, and Microsoft.
In conclusion, the four Ukrainian billionaires who have entered the top 10 countries by the number of billionaire immigrants in the US are a testament to Ukraine’s growing reputation as a technology powerhouse. While challenges lie ahead for the sector, their success is an inspiration to entrepreneurs around the world.
Read More @ kyivindependent.com
