Cyprus Among Europe’s Top 15 Countries by Number of Billionaires

Cyprus has achieved a remarkable position in Europe’s wealth rankings, taking 15th place on the continent by the number of billionaires, according to recent reports from Forbes and Euronews. The island managed to surpass Denmark, Austria, and Portugal, cementing its status as one of Europe’s emerging financial centers.

Despite its modest scale a population of roughly one million residents and an economy that accounts for only 0.2% of the EU’s total GDP, Cyprus continues to attract affluent investors and entrepreneurs drawn by its stable legal framework, favorable taxation, and EU membership advantages.

The 2025 Forbes Billionaires List features ten individuals holding Cypriot citizenship. Among them are three native Cypriot business owners, four Russian nationals, one Norwegian, one Indian, and one Israeli.

The wealthiest Cypriot citizen is John Fredriksen, a Norwegian-born shipping magnate who gave up his Norwegian citizenship after relocating parts of his corporate empire to Cyprus. His estimated fortune stands at $17 billion, and his company Mowi, a global leader in aquaculture commands up to 30% of the world’s salmon and trout production. 

Cyprus is viewed as an exceptional case in Europe’s billionaire landscape. While Germany (171 billionaires), Italy (74), and the United Kingdom (55) remain the continent’s leaders, the presence of ten billionaires in Cyprus given its limited economic scale highlights the island’s growing appeal as an international base for investment, business, and wealth management.

Source: Forbes, Euronews