Georgia’s 100 Richest Entrepreneurs

A new chapter for Forbes Georgia: for the first time, we present a consolidated ranking of the 100 richest entrepreneurs in Georgia. For 15 years, we have covered the country’s wealth creators. Now, for the first time, a structured and comprehensive measure of Georgia’s private capital is available to the public.

Editor-in-Chief: Shota Dighmelashvili
Head of Research: Egnate Shamugia
Reporters: Tato Kokaia and Kakhi Chakvetadze

In its 15-year history, Forbes Georgia has never before published a consolidated ranking of the country’s wealthiest entrepreneurs. This list represents a structured valuation of private business assets across sectors and industries—a snapshot of where economic power resides in Georgia today.

The combined net worth of the 100 entrepreneurs on this year’s list exceeds ₾60.1 billion. That figure is equivalent to nearly 60% of the country’s GDP and roughly three times Georgia’s central government revenue.

As in many economies, wealth at the top is highly concentrated. The top ten individuals control approximately 60% of the total wealth represented in the ranking, while the top five alone account for nearly half. The average net worth across the list stands at approximately ₾600 million. Yet the median wealth is just ₾227 million — a gap that underscores the steep internal concentration of capital even within the country’s economic elite.

In a small economy, such asymmetry is not incidental. It shapes market competition, influences capital allocation, and affects the speed and direction of economic development.

Counting What Counts: For the First Time, Forbes Georgia Ranks the Country’s 100 Richest

The sectoral breakdown tells a consistent story. Finance, telecommunications, healthcare, and real estate account for the largest share of wealth in the ranking. These industries reward scale, entrenched market positions, and steady cash flow generation. Unlike technology-driven ecosystems characterized by rapid valuation surges, wealth accumulation in Georgia is largely systematic, built on operational dominance and long-term consolidation.

This ranking does not address inequality; it measures capital. For the first time, conversations about Georgia’s richest entrepreneurs can move beyond speculation and anecdote to structured, consolidated, comparable, and verifiable data.

Methodology

This is the first ranking of Georgia’s 100 richest entrepreneurs in the 15-year history of Forbes Georgia.

The list is based on the valuation of business assets held in Georgia by individuals and families and reflects their entrepreneurial capital—specifically, their equity stakes in companies.

In assessing company valuations, we estimate the price at which a business could be reasonably valued in the market if its shareholders decided to sell their holdings.

Because most of Georgia’s largest companies are privately held and not publicly traded, private company valuations are primarily determined using the EV/EBITDA approach, applying an appropriate sector multiple to the company’s EBITDA.

For companies with negative operating profit but demonstrable growth trajectories, valuations are based on the EV/Sales approaching a revenue multiple. .

From the resulting enterprise value, net debt is deducted, and the final equity value is allocated according to ownership stakes.

Financial institutions are valued using the P/B ratio approach. The following European financial sector multiples (Q2 2023) were applied:

Commercial banks — 0.8x P/B
Insurance companies — 1.3x P/B (adjusted for ROE)
Other financial services — 1.5x P/B

The ranking reflects the valuation of business assets exclusively. It does not represent a full accounting of an individual’s or family’s total wealth across all jurisdictions.

Only individuals whose business assets could be assessed responsibly, based on public and verifiable information, were included in the ranking.

Core financial data is based on 2023 financial statements submitted to Georgia’s Accounting, Reporting and Auditing Supervision Service portal. Ownership data was obtained from the Public Registry, financial reporting portals, official company websites, direct communication with company representatives, and other publicly available sources.

The net worth of Mikheil Lomtadze and Bidzina Ivanishvili is based on valuations from the global Forbes ranking and converted at an exchange rate of 2.687.

For the English edition of the ranking, all valuations originally calculated in Georgian lari have been converted into U.S. dollars using the 2023 average exchange rate of 2.623.

All other valuations represent the Forbes Georgia editorial team’s conservative assessment based on information available at the time of calculation.

The net worth of Mikheil Lomtadze and Bidzina Ivanishvili is based on valuations from the global Forbes ranking and converted at an exchange rate of 2.687.

1. Mikheil Lomtadze

Wealth: ₾15,853.3 million | $5,900.0 million| $5.9 billion
Primary Source: Kaspi
Sector: Finance and Investment
Age: 50

Position in Forbes Global Ranking: #597

Mikheil Lomtadze is CEO and Chairman of the Board of Directors of Kaspi, Kazakhstan’s leading digital and banking services company. More than half of Kazakhs use their application. In 2024, the company’s revenue was $2.5 billion. Mikheil Lomtadze was born in Batumi and received his Bachelor’s degree in Business in Tbilisi (ESM), but accumulated his wealth in Kazakhstan. Since 2024, he has owned the English football club Wycombe Wanderers, which currently competes in the third-tier league.

2. Bidzina Ivanishvili and Family

Wealth: ₾7,254.9 million | $ 2,700.0 million | $2.7 billion
Primary Source: Investments
Sector: Finance and Investment
Age: 70

Position in Forbes Global Ranking: #1362

Bidzina Ivanishvili accumulated his wealth in Russia after the collapse of the USSR in banking and metallurgy, and returned to Georgia in 2003. In 2012, he was elected Prime Minister of Georgia, but left office the following year and has maintained influence from behind the scenes ever since. Bidzina Ivanishvili is credited with the phrase: “A person doesn’t need billions. Two hundred million is enough. The rest is just sport.”

3. Giorgi Jokhtaberidze

Wealth: ₾2,764.51 million | $1,051.94 million
Primary Source: Magti
Sector: Telecommunications
Age: 72

Giorgi Jokhtaberidze owns 75% of shares in Magticom, the leader in Georgia’s telecommunications market. The company was founded in 1996 and the first call on its network was made the following year. According to Forbes’ ranking, Magticom is Georgia’s 5th most valuable company. Giorgi Jokhtaberidze is the son-in-law of Georgia’s second president, Eduard Shevardnadze, and a collector of contemporary Georgian art – up to 3,500 works from his family’s collection are displayed in the Museum of Georgian Fine Arts, which he founded.

4. Irakli Rukhadze

Wealth: ₾2,227.01 million | $847.42 million
Primary Source: Magti, Georgian Cement
Sector: Telecommunications and Industry
Age: 59

Irakli Rukhadze’s assets include 25% of Magti’s assets, 41% of Georgian Cement, almost all of Liberty Bank, and all of Rustavi Steel. Georgian Cement is the 7th most valuable Georgian company, Magti – 5th. An active supporter of Georgian Dream, Rukhadze owned Georgia’s highest-rated TV channel Imedi until 2026, which continues to operate at a loss to this day.

5. Temur Chkonia

Wealth: ₾1,745.52 million | $664.20 million
Primary Source: McDonald’s
Sector: Fast Food and Non-alcoholic Beverages
Age: 75

Temur Chkonia has an 87% stake in Coca-Cola Bottlers Georgia and a 90% stake in T&K Restaurants LLC, which owns the McDonald’s fast-food restaurant chain. Chkonia’s company has been bottling soft drinks since 1993 and now also owns Coca-Cola licenses in Armenia and Azerbaijan. In 1999, the opening of the first McDonald’s restaurant was attended by the then-president, Eduard Shevardnadze. “Cola” and “Mac” brought Chkonia such popularity among young people that in 2024 he was the protagonist of a trending TikTok song: “The coolest guy is Temuri / Praised by Generation Z.”

6. Paata Kurtanidze

Wealth: ₾1,562.84 million | $594.69 million
Primary Source: Aversi
Sector: Healthcare
Age: 58

Paata Kurtanidze owns Aversi – a pharmacy chain that is Georgia’s 10th highest-revenue company in Forbes’ ranking. Kurtanidze also has an 85% stake in Aversi Rational – his own pharmaceutical enterprise. The Aversi holding also includes Aversi Clinic, which Forbes named Georgia’s third most profitable hospital last year.

7. Giorgi Ramishvili

Wealth: ₾1,485.22 million | $565.15 million
Primary Source: Silk Road
Sector: Telecommunications and Real Estate
Age: 58

Giorgi Ramishvili owns a 62% stake in Silk Road Group, the fifth most valuable Georgian company according to Forbes’ ranking. Their main areas of activity are telecommunications, real estate, energy and transportation. The company’s portfolio includes internet provider Silknet, which in 2018, as part of the largest corporate acquisition in Georgia’s history, merged with Geocell. The holding’s hotels include Radisson Blu Iveria and Telegraph. Giorgi Ramishvili also has a 16% stake in Wissol Petroleum. In the early 2010s, Silk Road Group planned to build Trump Tower in partnership with Donald Trump, but the agreement fell apart after the latter became president.

8. Kakha Okriashvili

Wealth: ₾1,141.63 million | $434.41 million
Primary Source: PSP
Sector: Healthcare
Age: 59

PSP, where Kakha Okriashvili owns 95% of shares, is Georgia’s 9th highest-revenue company according to Forbes. In addition, he owns the pharmaceutical manufacturing company GM Pharma and a 33% stake in Hospital West Georgia Medical Center. Okriashvili was a member of parliament for five terms from 2004-2024 – first from National Movement, then from Georgian Dream, and then again from National Movement.

9. Khvicha Makatsaria

Wealth: ₾1,132.07 million | $430.77 million
Primary Source: Telasi
Sector: Utility Services and Telecommunications
Age: 61

Khvicha Makatsaria owns a 25% stake in Tbilisi Energy, which has a monopoly on Tbilisi’s gas supply, and a 12% stake in Telasi, which has a monopoly on Tbilisi’s electricity supply. In 2022, Khvicha Makatsaria bought Cellfie Mobile (formerly Beeline) – the third largest company in the Georgian mobile communications market.

10. Gia Gorgoshadze

Wealth: ₾1,045.14 million | $397.69 million
Primary Source: Gorgia
Sector: Retail
Age: 55

Gia Gorgoshadze is the sole owner of Gorgia – the region’s largest company in construction and renovation, which was founded in 1998 and currently manages a total of 13 branches in 8 Georgian cities.

11. Vakhtang Karichashvili

Wealth: ₾835.32 million | $317.85 million
Primary Source: Georgian Spirit
Sector: Alcoholic Beverages
Age: 53

Vakhtang Karichashvili owns an 80% stake in K and Georgian Spirit LLC, registered in 2017. The company and its associated group of enterprises process more than half of Georgia’s grown grapes. They produce wine and cognac spirit. Vakhtang Karichashvili is a dual citizen of Georgia and Russia.

12. Maka Asatiani

Wealth: ₾806.56 million | $306.91 million
Primary Source: TRADE STONE IBERIA
Sector: Automotive Industry and Trade
Age: 52

Maka Asatiani and her family own several large companies. Among them is Mercedes-Benz Georgia (AKA LLC), which Asatiani shares with her sister and mother, and the real estate company Trade Stone Iberia LLC. Through the latter, Asatiani owns 30% of Blacksea Petroleum, the operator of the new oil terminal in Kulevi, which started processing crude oil imported from Russia in October.

13. Levan Pkhakadze

Wealth: ₾791.73 million | $301.27 million
Primary Source: Alma
Sector: Gas Stations and Outdoor Advertising
Age: 52

Levan Pkhakadze owns a diversified portfolio together with his brother, Soso Pkhakadze. It includes Wissol Petroleum Georgia, advertising company Alma, and V-Geo Restaurants, which brings together fast-food chains – Wendy’s, Subway, and Dunkin’ Donuts. While the brothers share shares equally in most companies, in Wissol a 7% larger stake makes Levan richer than Soso.

14. Soso Pkhakadze

Wealth: ₾767.24 million | $291.95 million
Primary Source: Alma
Sector: Gas Stations and Outdoor Advertising
Age: 54

Soso Pkhakadze, together with his brother Levan Pkhakadze, has a diversified portfolio – he owns a 31% stake in Wissol Petroleum Georgia and 50% of shares in advertising company Alma and V-Geo Restaurants. The latter brings together fast-food chains – Wendy’s, Subway, and Dunkin’ Donuts. Soso Pkhakadze is also president of the Georgian Business Association, which protects the interests of large companies.

15. Mindia Sabanadze

Wealth: ₾766.98 million | $291.85 million
Primary Source: City Mall
Sector: Real Estate
Age: 55

Mindia Sabanadze owns IG Development, which Forbes named the most valuable real estate management company in October. IG Development owns City Mall Saburtalo, City Mall Gldani, and the business center City Tower.

16. Temur Kokhodze

Wealth: ₾758.27 million | $288.54 million
Primary Source: Tegeta
Sector: Automotive Industry
Age: 67

Temur Kokhodze’s largest business is Tegeta Motors, where he owns 92% of shares. Tegeta was founded in 1995 and was originally a small shop selling spare parts. In 2025, Forbes named Tegeta Georgia’s 6th highest-revenue company. Their activities also cover Transcaucasia and Central Asian countries. Kokhodze was a parliamentarian in 2008-2012.

17. Mamuka Togonidze

Wealth: ₾740.15 million | $281.64 million
Primary Source: Telasi
Sector: Utility Services
Age: 52

Mamuka Togonidze owns a 25% stake in Tbilisi Energy, which has a monopoly on gas supply to Georgia’s capital.

18. Mamuka Khazaradze

Wealth: ₾732.28 million | $278.65 million
Primary Source: TBC Bank
Sector: Finance and Development
Age: 59

Mamuka Khazaradze is one of TBC’s founders and owns 10% of shares. From 1992-2019, he was chairman of the company’s supervisory board. He also owns a 25% stake in Lisi Development c Company. In 2019, he moved into politics and founded the Lelo party. He was a member of parliament in 2020-21.

19. Giorgi Diasamidze

Wealth: ₾600.03 million | $228.32 million
Primary Source: Todua Clinic
Sector: Healthcare
Age: 27

Giorgi Diasamidze owns Todua Clinic, which was founded by his grandfather, Fridon Todua, in 1991. Todua Clinic currently has three branches in Tbilisi.

20. Davit Bezhuashvili

Wealth: ₾593.36 million | $225.78 million
Primary Source: GIG
Sector: Diversified
Age: 57

Davit Bezhuashvili is the founder and chairman of the board of directors of GIG Holding, founded in 1994. The holding manages a diverse portfolio that includes companies from more than 10 industries, including energy, healthcare, and education.

21. Grigol Tchirakadze

Wealth: ₾569.61 million | $216.75 million
Primary Source: UGT
Sector: Information Technology
Age: 51

Grigol Tchirakadze owns an 85% stake in UGT, a company founded in 1997 that serves clients in both classical IT direction, as well as in building management, payments, and video monitoring.

22. Nana Aroshidze

Wealth: ₾496.37 million | $188.88 million
Primary Source: Anagi
Sector: Development and Real Estate
Age: 64

Nana Aroshidze owns 100% of Anagi, one of Georgia’s largest construction companies, founded in 1989.

23. Badri Japaridze

Wealth: ₾478.82 million | $182.20 million
Primary Source: TBC Bank
Sector: Finance and Development
Age: 65

Badri Japaridze is TBC’s co-founder and owns 6% of shares. Through a 25% stake in Lisi Lake Development, he also has large assets in the real estate sector. Badri Japaridze was a member of Georgia’s first convocation Supreme Council and signed the Act of Restoration of Independence. He was a member of parliament in 2020-2022.

24. Zaur Elizbarashvili and Family

Wealth: ₾421.54 million | $160.40 million
Primary Source: Elizi
Sector: Wholesale Trade
Age: 65

Zaur, Gia, and Tornike Elizbarashvili own a 60% stake in Elizi Group, founded in 1998, which imports and distributes tobacco. Among the brands they import are Winston, Sobranie, and Camel. Initially, Zaur and Gia Elizbarashvili’s partner was their brother Tamaz, who later transferred his share to his son, Tornike.

25. Irakli Gilauri

Wealth: ₾418.19 million | $159.13 million
Primary Source: Georgia Capital
Sector: Finance and Healthcare
Age: 49

Irakli Gilauri is CEO and chairman of the supervisory board of Georgia Capital, Georgia’s 4th most valuable company, a financial and investment holding. Georgia Capital’s total portfolio value is ₾4.6 billion. From 2011-2018, Irakli Gilauri was CEO and chairman of the supervisory board of Bank of Georgia, associated with Georgian Capital. His brother, Nika Gilauri, held the position of Prime Minister in 2009-2012.

26. Vasil Sukhiashvili

Wealth: ₾375.50 million | $142.88 million
Primary Source: Nikora
Sector: Grocery Store
Age: 57

Vasil Sukhiashvili is Nikora’s largest shareholder – a supermarket chain and meat products manufacturer. Nikora, under whose management are also Libre and Nugeshi supermarkets, was named by Forbes in 2025 as Georgia’s largest grocery chain and Georgia’s 4th highest-revenue company.

27. Akaki Akhvlediani

Wealth: ₾374.13 million | $142.36 million
Primary Source: AgroHub
Sector: Grocery Store
Age: 53

Akaki Akhvlediani owns 100% of the supermarket chain AgroHub. AgroHub appeared on the market in 2015, and now has a total of nine branches in Tbilisi, Kutaisi, and Batumi. In 2025, Forbes named AgroHub Georgia’s most profitable supermarket chain (by profit margin).

28. Davit Kokhreidze

Wealth: ₾373.58 million | $142.15 million
Primary Source: Impexpharm
Sector: Healthcare
Age: 58

Davit Kokhreidze is the sole owner of the pharmacy chain Impex. Impexpharm LLC was founded in 1999 and, according to Forbes’ ranking, is Georgia’s 48th most valuable company.

29. Ioseb Tatarashvili

Wealth: ₾360.78 million | $137.28 million
Primary Source: Clean House
Sector: Retail
Age: 52

Ioseb Tatarashvili owns the Clean House store chain, which entered the market in 2014 and currently has up to 250 branches in all regional centers of Georgia. In Forbes’ ranking of most valuable Georgian companies, Clean House is in 47th place.

30. Elguja Gotsiridze

Wealth: ₾346.11 million | $131.70 million
Primary Source: Chachava Clinic
Sector: Healthcare
Age: 67

Elguja Gotsiridze owns 76% of Chachava Clinic, registered in 2001. In April 2025, Forbes named Chachava Clinic Georgia’s most profitable hospital. Since 2020, Elguja Gotsiridze has been a member of parliament from Georgian Dream.

31. Gocha Tskitishvili

Wealth: ₾344.53 million | $131.10 million
Primary Source: Ori Nabiji
Sector: Grocery Store
Age: 60

Gocha Tskitishvili owns a third of Ori Nabiji, a supermarket chain founded in 2009. In Forbes’ ranking of largest supermarket chains, Ori Nabiji is in second place and its value equals ₾979 million. The chain brings together approximately 470 retail stores and employs up to 4,300 people..

32. Guram Talakvadze

Wealth: ₾339.56 million | $129.21 million
Primary Source: Mnkorp
Sector: Industry
Age: 45

In August 2024, Guram Talakvadze acquired a 100% stake in Mnkorp LLC, which is engaged in the sale of manganese concentrate. According to Forbes’ ranking, Mnkorp is Georgia’s 66th most valuable company.

33. Gocha Chkhaidze

Wealth: ₾332.83 million | $126.65 million
Primary Source: Askaneli
Sector: Alcoholic Beverages
Age: 57

Gocha Chkhaidze owns 100% of Askaneli Winery & Distillery LLC. Askaneli has been producing wine, sparkling wine, brandy, and chacha since 1998. It owns factories in Kakheti, Guria, and Tbilisi. Gocha Chkhaidze is a dual citizen of Georgia and Russia.

34. Giorgi Chelidze

Wealth: ₾329.64 million | $125.43 million
Primary Source: Steel International Trading
Sector: Industry
Age: 47

Giorgi Chelidze’s main source of income is Saknakhshiri LLC, where he owns 100% through Steel International Trading Company LLC. Saknakhshiri trades in manganese and metallurgical raw materials and manages Tkibuli mines. Steel International is in 15th place in Forbes’ list of highest-revenue Georgian companies.

35. Giorgi Chkheidze

Wealth: ₾326.25 million | $124.14 million
Primary Source: Ori Nabiji
Sector: Retail
Age: 58

Giorgi Chkheidze owns a third of Ori Nabiji, a supermarket chain founded in 2009. In Forbes’ ranking of largest supermarkets, Ori Nabiji is in second place, and in the list of highest-revenue companies – in seventh. The company’s value equals ₾979 million. The chain includes approximately 470 stores.

36. Kakhi Bekauri

Wealth: ₾326.25 million | $124.14 million
Primary Source: Ori Nabiji
Sector: Retail
Age: 57

Kakhi Bekauri owns a third of Ori Nabiji. In Forbes’ ranking of largest supermarkets, Ori Nabiji is in second place and its value equals ₾979 million. The chain brings together approximately 470 retail stores and employs up to 4,300 people. From 2017-2026, Bekauri headed the Communications Commission and was one of the country’s highest-paid public officials.

37. Dimitri Nishnianidze

Wealth: ₾324.52 million | $123.49 million
Primary Source: Charm Trading
Sector: Wholesale Trade
Age: 25

Born in 2000, Dimitri Nishnianidze owns a 34% stake in the distribution company Charm Trading, founded the same year. He owns a 100% stake in Meidan LLC operating in the real estate sector. He has dual citizenship of Georgia and Russia.

38. Suliko Varsemashvili

Wealth: ₾313.98 million | $119.47 million
Primary Source: Betlive
Sector: Gaming Business
Age: 48

At the time of rating compilation, Suliko Varsemashvili owned a 38% stake in online casino Betlive, which is Georgia’s 25th most valuable company according to Forbes’ ranking. Suliko Varsemashvili also owns an 85% stake in coffee manufacturing company Meama and a 45% stake in Hotel Episode.

39. Tsezar Chocheli

Wealth: ₾296.67 million | $112.89 million
Primary Source: Mixor
Sector: Alcoholic Beverages and Industry
Age: 58

Tsezar Chocheli’s most significant assets are chocolate manufacturing company Barambo and beer and non-alcoholic beverage enterprise Zedazeni. Tsezar Chocheli was a member of the Georgian parliament for two terms, and from 2008-2012 held the position of Governor of Mtskheta-Mtianeti.

40. Elguja Keburia

Wealth: ₾289.20 million | $110.05 million
Primary Source: Ambassador
Sector: Hotel and Healthcare
Age: 64

Elguja Keburia is a shareholder in Academician O. Ghudushauri National Medical Center. According to Forbes’ ranking, Ghudushauri Clinic is Georgia’s 6th most profitable hospital. Elguja Keburia also owns 100% of Club Ambassador LLC. He is a dual citizen of Georgia and Russia.

41. Temur Ugulava

Wealth: ₾282.47 million | $107.48 million
Primary Source: Rooms
Sector: Hotel
Age: 55

Temur Ugulava initially accumulated capital from the gaming company Acharabet, which appeared on the market in 1998 and became an online casino from 2003. Later, Ugulava moved into the hotel business. Part of his Achara Group’s portfolio includes three Rooms hotels, Stamba and Fabrika. Achara Group mostly restores non-functional places and turns them into new attraction points.

42. Lasha Papashvili

Wealth: ₾276.65 million | $105.27 million
Primary Source: Redix
Sector: Real Estate and Agriculture
Age: 57

Lasha Papashvili’s largest asset is half of the shares of real estate company Redix, the other half belongs to his brother, Sulkhan. Lasha Papashvili fully owns the dairy supplier company Kvareli Baga, which was involved in a scandal in 2025 – according to Radio Liberty’s investigation, Kvareli Baga was feeding cattle chicken offal.

43. Kakha Khazaradze

Wealth: ₾273.99 million | $104.26 million
Primary Source: ICR
Sector: Retail
Age: 58

Kakha Khazaradze is the largest shareholder in clothing and footwear store chain ICR, which ranked 49th in Forbes’ ranking of most valuable companies.

44. Revaz Darchidze

Wealth: ₾272.07 million | $103.53 million
Primary Source: DAR BUILDING
Sector: Development
Age: 65

Revaz Darchidze is the sole owner of construction and development company DAR Building, founded in 2013. The epicenter of the company’s activities is the city of Batumi. In Forbes’ hundred most valuable Georgian companies, DAR ranked 68th.

45. Sulkhan Papashvili

Wealth: ₾249.17 million | $94.81 million
Primary Source: Redix
Sector: Real Estate
Age: 60

Sulkhan Papashvili owns half of the shares of real estate company Redix, the owner of the other half is his brother, Lasha. Before the Rose Revolution, he held high positions in public service, then moved to the private sector.

46. Anton Obolashvili

Wealth: ₾244.61 million | $93.08 million
Primary Source: GlobalPharm
Sector: Healthcare and Real Estate
Age: 51

Anton Obolashvili is the sole owner of pharmaceutical company GlobalPharm, founded in 2004. The company’s main activity is importing and distributing medicines, while operating in parallel in the real estate sector. Anton Obolashvili has been a member of the Georgian parliament since 2020 from Georgian Dream.

47. Dali Urushadze

Wealth: ₾242.99 million | $92.46 million
Primary Source: Rico
Sector: Finance
Age: 75

Dali Urushadze owns 100% of microfinance organization Rico Express, founded in 2004. The company currently has 56 branches in 19 Georgian cities.

48. Ivane Chkhartishvili

Wealth: ₾240.38 million | $91.47 million
Primary Source: Smart Capital Group
Sector: Diversified
Age: 62

Chkhartishvili’s diversified portfolio is controlled by his holding, Smart Capital Group. They have companies in winemaking, real estate, hotels, and tobacco. Before the Rose Revolution, he held the position of Minister of Economy, and from 2004-2008 was also a member of parliament.

49. Mukhamed Artmeladze

Wealth: ₾238.11 million | $90.61 million
Primary Source: Medcentre
Sector: Healthcare
Age: 46

Mukhamed Artmeladze owns the High-Tech Multi-profile Hospital Medcentre, registered in 2015. The hospital operates in Batumi and has five branches. Mukhamed Artmeladze is a dual citizen of Georgia and Russia.

50. Aleksandre Samkharadze

Wealth: ₾227.30 million | $86.49 million
Primary Source: Dressup
Sector: Retail
Age: 60

Aleksandre Samkharadze owns an 88% stake in Dressup Group (Tradeline LLC), which was founded in 1994 and has clothing and footwear stores.

51. Amiran Darchidze

Wealth: ₾226.65 million | $86.24 million
Primary Source: Modus
Sector: Construction Materials
Age: 56

Amiran Darchidze is the sole owner of construction hypermarket chain Modus, which trades in furniture and renovation materials. Modus has a total of four branches in Tbilisi and Batumi.

52. Giorgi Gvelesiani

Wealth: ₾218.80 million |$83.26 million
Primary Source: GT Group
Sector: Auto Industry
Age: 59

Giorgi Gvelesiani, Giorgi Tavdishvili and Temur Ustiashvili – these three own GT Group equally (one-third each). GT Group started operations in 1999. GT Group trades in light vehicles, trucks, construction, agricultural, and municipal equipment. Among other brands, it exclusively represents BMW, Ford, Land Rover, Jaguar, and Suzuki in Georgia.

53. Giorgi Tavdishvili

Wealth: ₾218.80 million | $83.26 million
Primary Source: GT Group
Sector: Auto Industry
Age: 62

54. Temur Ustiashvili

Wealth: ₾218.80 million | $83.26 million
Primary Source: GT Group
Sector: Auto Industry
Age: 49

55. Tengiz Bakuridze

Wealth: ₾212.52 million | $80.87 million
Primary Source: Bakuri
Sector: Real Estate and Development
Age: 70

Tengiz Bakuridze owns construction company Bakuri, founded in 1996. Bakuri’s main area of activity is Batumi. In Forbes’ hundred most valuable companies, Bakuri is in 96th place.

56. Levan Kakabadze

Wealth: ₾192.17 million | $73.12 million
Primary Source: Sharm Trading
Sector: Wholesale Trade
Age: 65

Levan Kakabadze owns a 30% stake in distribution company Sharm Trading, founded in 2000. In Forbes’ ranking of most valuable companies, Charm Trading is in 30th place.

57. Giorgi Ghambashidze

Wealth: ₾174.45 million | $66.38 million
Primary Source: Georgian Spirit
Sector: Alcoholic Beverages
Age: 63

Giorgi Ghambashidze owns a 20% stake in K and Georgian Spirit LLC, registered in 2017. The company and its associated group of enterprises process more than half of Georgia’s grown grapes. They produce wine and cognac spirits. Ghambashidze is a dual citizen of Georgia and Russia.

58. Levan Kacharava

Wealth: ₾174.19 million | $66.28 million
Primary Source: GBG
Sector: Industry and Wholesale Trade
Age: 50

Levan Kacharava owns a 60% stake in Georgian Building Group LLC through Global Invest LLC, founded in 2005, whose main activity is the production and sale of cement, concrete, and inert materials.

59. Nino Bregvadze

Wealth: ₾173.51 million | $66.02 million
Primary Source: Europroduct
Sector: Grocery Store
Age: 61

Nino Bregvadze owns a 50% stake in supermarket chain Europroduct. The company was founded in 2004 and for the first 10 years only engaged in distribution, opened its first supermarket in 2014 and now has 40 branches. Europroduct, according to Forbes, is Georgia’s 58th most valuable company.

60. Zaur Kortoshidze

Wealth: ₾170.80 million | $64.99 million
Primary Source: Geo Sky
Sector: Air Transport
Age: 64

Zaur Kortoshidze owns 100% of Geo Sky LLC, which was founded in 2017 and is one of the major companies in Georgia’s aviation market. Its main activity is technical service of aircraft.

61. Merab Nikabadze and Family

Wealth: ₾169.96 million | $64.67 million
Primary Source: GRC
Sector: Industry and Trade
Age: 62

The Nikabadze family has a total 60% stake in GRC, which trades in construction materials. GRC ranked 71st in Forbes’ list of most valuable companies.

62. Davit Giorgobiani

Wealth: ₾159.89 million | $60.84 million
Primary Source: Hyundai
Sector: Automotive Industry
Age: 60

Davit Giorgobiani owns Hyundai Auto Georgia JSC, founded in 2005, whose main activity is trading in light and cargo vehicles, spare parts, and car technical service. Davit Giorgobiani is a veteran basketball player and in the 1980s played for Tbilisi Dynamo and the USSR youth national team.

63. Archil Gegenava

Wealth: ₾157.87 million | $60.07 million
Primary Source: Spar/Ioli/Kalata
Sector: Grocery Store
Age: 50

Archil Gegenava owns Foodmart LLC through Holding.G LLC, founded in 2013, which includes Spar, Ioli, and Kalata supermarket chains. From 2008-2012, Archil Gegenava was a majoritarian MP for Mtatsminda constituency from the National Movement.

64. Ioseb Mchedlishvili

Wealth: ₾156.62 million | $59.60 million
Primary Source: Peri
Sector: Construction
Age: 69

Ioseb Mchedlishvili owns 96% of Peri LLC, founded in 1991, whose main activity is design, construction and installation work, construction of hydrotechnical structures, tunnels, roads, and other construction.

65. Levan Mzhavanadze

Wealth: ₾153.97 million | $58.59 million
Primary Source: Like House
Sector: Construction
Age: 53

Levan Mzhavanadze owns 100% of Like House LLC, founded in 2016, whose main activity is construction and installation activities.

66. Nana Janashia

Wealth: ₾150.42 million | $57.24 million
Primary Source: Betlive
Sector: Gaming Business
Age: 44

According to 2023 data, Nana Janashia owns 19% of Betlive LLC, whose main activity is organizing gambling in electronic form and offers customers online totalizator and online casino gaming platforms.

67. Vasil Sopromadze

Wealth: ₾150.23 million | $57.17 million
Primary Source: Fresco
Sector: Grocery Store
Age: 63

Vasil Sopromadze owns supermarket chain Fresco through companies registered in the British Virgin Islands. He is a dual citizen of Georgia and Russia.

68. Giorgi Salakaia

Wealth: ₾144.90 million | $55.14 million
Primary Source: Badagoni
Sector: Alcoholic Beverages
Age: 56

Giorgi Salakaia is the sole shareholder of Badagoni JSC. The company was founded in 2003 and is engaged in winemaking. Badagoni exports Georgian wine to 35 countries.

69. Zurab Zakariadze

Wealth: ₾136.30 million | $51.86 million
Primary Source: Spar/Ioli/Kalata
Sector: Grocery Store
Age: 47

Zurab Zakariadze owns a 22% stake in Foodmart LLC, founded in 2013, which includes Spar, Ioli, and Kalata supermarket chains.

70. Tengiz Kapanadze

Wealth: ₾134.10 million | $51.03 million
Primary Source: McDonald’s
Sector: Fast Food
Age: 54

Tengiz Kapanadze owns 10% of T&K Restaurants LLC. The company was founded in 1997 and operates McDonald’s fast-food chain and represents McDonald’s Corporation’s franchise.

71. Davit Kukhalashvili

Wealth: ₾123.93 million | $47.16 million
Primary Source: Spar/Ioli/Kalata
Sector: Grocery Store
Age: 47

Davit Kukhalashvili owns 9% of Foodmart LLC, founded in 2013, which includes Spar, Ioli, and Kalata supermarket chains.

72. Irakli Burdiladze

Wealth: ₾122.32 million | $46.54 million
Primary Source: BK Construction
Sector: Development
Age: 51

Irakli Burdiladze owns 50% each of BK Construction LLC, founded in 2017, whose main activities are construction of residential apartments, commercial properties, and hotels.

73. Shota Berekashvili

Wealth: ₾122.32 million | $46.54 million
Primary Source: BK Construction
Sector: Development
Age: 51

Shota Berekashvili owns 50% each of BK Construction LLC, founded in 2017, whose main activities are construction of residential apartments, commercial properties, and hotels. Shota Berekashvili has been a member of parliament since 2024 from Georgian Dream.

74. Irakli Kervalishvili

Wealth: ₾122.18 million | $46.49 million
Primary Source: Pace
Sector: Transport
Age: 59

Irakli Kervalishvili owns 38% each of Pace Georgia LLC, founded in 1993, whose main activity is freight transportation and their management in Poti port.

75. Laura Larioni

Wealth: ₾121.56 million | $46.26 million
Primary Source: Pace
Sector: Transport
Age: 90

Laura Larioni owns 38% each of Pace Georgia LLC, founded in 1993, whose main activity is freight transportation and their management in Poti port. Laura Larioni is the oldest representative on our list.

76. Elguja Turmanidze

Wealth: ₾119.02 million | $45.29 million
Primary Source: ELT Group
Sector: Development
Age: 44

Elguja Turmanidze fully owns ELT Building LLC, founded in 2015, whose main activities are building apartments and commercial spaces and their subsequent sale with management rights.

77. Zurab Zurabishvili

Wealth: ₾118.96 million | $45.27 million
Primary Source: Eliz
Sector: Wholesale Trade
Age: 60

Zurab Zurabishvili owns 20% of Elizi Group, founded in 1998, which imports and distributes tobacco. Among the brands they import are Winston, Sobranie, and Camel.

78. Revaz Vashakidze

Wealth: ₾118.57 million | $45.12 million
Primary Source: Chirina
Sector: Agriculture
Age: 71

Revaz Vashakidze fully owns Chirina LLC, founded in 2010. The company’s field of activity is poultry farming. Their product is sold on the market under the name Biu-Biu. Vashakidze was in a legal dispute with another representative on our list, Lasha Papashvili – according to Radio Liberty’s investigation, Papashvili’s Kvareli Baga was buying chicken offal from Chirina, which it was feeding to cattle.

79. Taliko Tsirekidze

Wealth: ₾116.53 million | $44.34 million
Primary Source: Nikora
Sector: Grocery Store
Age: 86

Taliko Tsirekidze owns 10% of supermarket chain and meat products manufacturer Nikora. Nikora, under whose management are also Libre and Nugeshi supermarkets, was named by Forbes in 2025 as Georgia’s largest grocery chain and Georgia’s 4th highest-revenue company.

80. Zaal and Davit Dugladze

Wealth: ₾115.95 million | $44.12 million
Primary Source: Dugladze Wine Company
Sector: Alcoholic Beverages
Age: 54

Zaal and Davit Dugladze own a 67% stake in Dugladze Wine Company LLC, founded in 2013, whose main activity is wine and spirits production and trade. Zaal Dugladze has been a member of parliament since 2024 from Georgian Dream.

81. Davit Takidze

Wealth: ₾115.15 million | $43.82 million
Primary Source: Toyota Tbilisi
Sector: Automotive Industry?
Age: 54

Davit Takidze owns 33% stake in Toyota Center Tbilisi LLC. Toyota Center Tbilisi LLC was founded in 1997 and offers customers Toyota brand automobiles, their spare parts, accessories, and technical service.

82. Irakli Gurchiani

Wealth: ₾113.19 million | $43.07 million
Primary Source: Toyota Tbilisi
Sector: Automotive Industry
Age: 62

Irakli Gurchiani owns 29% stake in Toyota Center Tbilisi LLC. Toyota Center Tbilisi LLC was founded in 1997 and offers customers Toyota brand automobiles, their spare parts, accessories, and technical service.

83. Tengiz Apkhaidze and Family

Wealth: ₾111.69 million | $42.50 million
Primary Source: Elizi
Sector: Wholesale Trade
Age: 71

Natia, Tengiz, and Besik Apkhaidze own a 20% stake in Elizi Group, founded in 1998, which imports and distributes tobacco. Among the brands they import are Winston, Sobranie, and Camel.

84. Khatia Goglidze

Wealth: ₾106.11 million | $40.38 million
Primary Source: Caucasus University
Sector: Education
Age: 47

Khatia Goglidze owns 93% of shares of Caucasus University and is its vice president. The university was founded in 1998 by Goglidze’s husband, Kakha Shengelia, who still holds the position of president.

85. Giorgi Chivadze

Wealth: ₾102.49 million | $39.00 million
Primary Source: Sharm Trading
Sector: Wholesale Trade
Age: 51

Giorgi Chivadze owns 16% of Sharm Trading LLC, founded in 2000, whose field of activity is import and distribution of daily consumption hygiene, chemical products, and food products throughout Georgia.

86. Ucha Lursmanashvili

Wealth: ₾101.76 million | $38.72 million
Primary Source: Connect
Sector: Gas Stations
Age: 46

Ucha Lursmanashvili fully owns Repsol LLC, founded in 2014, whose main activity is retail and wholesale trade in petroleum products through gas stations and oil depots.

87. Giorgi Aghdgomelashvili

Wealth: ₾101.13 million | $38.48 million
Primary Source: GRC
Sector: Industry and Trade
Age: 50

Giorgi Aghdgomelashvili owns a 40% stake in GRC LLC, founded in 2003, whose main activity is production and import of construction materials.

88. Roin Dumbadze

Wealth: ₾93.54 million | $35.59 million
Primary Source: Batmsheni
Sector: Development
Age: 42

Roin Dumbadze fully owns Batmsheni LLC, founded in 2011. The company’s main activity is construction of residential buildings.

89. Grigori Gudavadze

Wealth: ₾92.76 million | $35.30 million
Primary Source: Megatechnica
Sector: Household Appliances Trade
Age: 65

Grigori Gudavadze owns a 50% stake in Omega LLC, founded in 1996, whose main activity is wholesale and retail trade in electronic household appliances and devices.

90. Davit Zhghenti

Wealth: ₾92.73 million | $35.29 million
Primary Source: New Road
Sector: Construction
Age: 40

Davit Zhghenti owns 50% each of New Road LLC, founded in 2010, whose main activity is construction of roads and highways, asphalt concrete production, and processing of gravel and sand quarries.

91. Givi Chochia

Wealth: ₾92.73 million | $35.29 million
Primary Source: New Road
Sector: Construction
Age: 52

Givi Chochia owns 50% each of New Road LLC, founded in 2010, whose main activity is construction of roads and highways, asphalt concrete production, and processing of gravel and sand quarries.

92. Tea Kakabadze

Wealth: ₾91.45 million | $34.80 million
Primary Source: Alta
Sector: Household Appliances Trade
Age: 57

Tea Kakabadze owns a 29% stake in Alta LLC, founded in 1997, which trades in household appliances. Along with the online store, Alta currently has a total of 16 stores in 7 Georgian cities.

93. Nani Andiashvili

Wealth: ₾90.33 million | $34.37 million
Primary Source: ICR
Sector: Retail
Age: 62

Nani Andiashvili owns a 25% stake in International Corporation ICR LLC, founded in 1995, which is a trading and service company.

94. Suliko Tsulukidze

Wealth: ₾88.38 million | $33.63 million
Primary Source: Betlive
Sector: Gaming Business
Age: 58

Suliko Tsulukidze is a shareholder in Betlive, which is Georgia’s 25th most valuable company according to Forbes’ ranking.

95. Davit Khechikashvili

Wealth: ₾88.09 million | $33.52 million
Primary Source: IBG
Sector: AutoIndustry
Age: 25

Davit Khechikashvili owns a 40% stake in IBG Holding LLC, founded in 2017, whose main activity is selling automobiles and car spare parts and warranty service for automobiles. Davit Khechikashvili is the son of businessman and former Sports Minister Tariel Khechikashvili.

96. Giorgi Zhordania

Wealth: ₾83.23 million | $31.67 million
Primary Source: GBG
Sector: Industry and Real Estate
Age: 52

Giorgi Zhordania owns a 40% stake in Georgian Building Group LLC, founded in 2005, whose main activity is production and sale of cement, concrete, and inert materials.

97. Ibraim Shalikadze

Wealth: ₾81.46 million | $31.00 million
Primary Source: Miniso
Sector: Trade and Real Estate
Age: 60

Ibraim Shalikadze owns a 12.5% stake in Miniso Georgia LLC, founded in 2016, whose main activity is retail trade in imported goods and represents Chinese store chain Miniso in Georgia.

98. Maka Salukvadze

Wealth: ₾80.93 million | $30.80 million
Primary Source: Nikora
Sector: Grocery Store
Age: 57

Maka Salukvadze owns a 6% stake in Nikora JSC, founded in 1998, which brings together supermarket chains, meat products and other food or beverage import/distributor companies. Nikora, under whose management are also Libre and Nugeshi supermarkets, was named by Forbes in 2025 as Georgia’s largest grocery chain and Georgia’s 4th highest-revenue company.

99. Irine Kosashvili

Wealth: ₾80.60 million | $30.67 million
Primary Source: Goodwill
Sector: Grocery Store
Age: 54

Irine Kosashvili owns a 95% stake in Goodwill, which is Georgia’s first hypermarket chain. Currently, Goodwill has six branches in Tbilisi and two in Batumi.