The newly appointed Deputy Chairman of the State Property Fund of Ukraine (SPFU), Vitaliy Kovalenko, has submitted his financial disclosure, revealing multi-million income from the private sector, a luxury fleet, and massive assets. The official’s total cash savings and bank deposits, who previously worked within the structures of billionaire Rinat Akhmetov, are estimated to exceed 60 million UAH.
According to official data, the bulk of Vitaliy Kovalenko’s financial influx came from the mining and metallurgical sector. Specifically, his salary at LLC Metinvest Holding amounted to 15.62 million UAH, supplemented by 16 thousand UAH in other income.
Additionally, the official received a 1 million UAH salary from PJSC Ingulets Iron Ore Enrichment Works (Ingulets GZK), where he continues to hold a secondary position as a project manager. Kovalenko also declared 175 thousand UAH generated from entrepreneurial activities.
Over the past two years, the newly appointed SPFU deputy head substantially upgraded his personal garage, acquiring three luxury and premium-segment vehicles.
His current fleet includes:
Maserati Levante (2023 model) — valued at 3.48 million UAH;
Zeekr 001 (2024 model) — valued at 1.5 million UAH;
BMW iX1 (2024 model) — valued at 1 million UAH.
The State Property Fund official’s declaration lists 14 real estate properties, including land plots, apartments, residential houses, and commercial premises. His highest-value assets feature a 156.4 sq. m. apartment in Kyiv (acquired for 7 million UAH) and a 559.6 sq. m. house in Chabany, just outside the capital.
Vitaliy Kovalenko is also heavily involved in the investment sector. He holds a 48.37% stake in the closed-end non-diversified venture corporate investment fund «Korf Finance», with shares valued at 10 million UAH. Furthermore, the official is registered as the ultimate beneficial owner of three legal entities, including «Kyiv Estate Processing» and «Vechir Telecom».
The financial assets of the former Metinvest executive are highly diversified. Hundreds of thousands of dollars and euros are distributed across Ukrainian and foreign financial institutions, including the Liechtensteinische Landesbank in Austria and Revolut in Lithuania.
The SPFU deputy chairman holds a significant amount of liquid cash: 3 million UAH, 450 thousand USD, and 100 thousand EUR.
The declaration also lists the official’s children, son Mark and daughter Nicole, both registered in the village of Khodosivka, Obukhiv district, Kyiv region. This transition of a top manager from private enterprise to public service has once again drawn public scrutiny toward high-level appointments within Ukraine’s state asset management sector.