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Georgian Business Tycoon`s wife to Launch a Political Party

Published: January 12, 2012 | 2:16 pm
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The COMMERCIAL TIMES

Georgian business tycoon’s wife  intends to set up a political party. Ekaterine Khvedelidze`s lawyer said at the briefing on January 11 that Bidzina Ivanishvili`s wife wants to be an MP and intends to participate in parliamentary elections.

Khvedelidze has applied for granting her the citizenship of Georgia. She has called on the court to fulfill its decision on restoration her citizenship as quickly as possible. Her husband Bidzina Ivanishvili is a leader of the Georgian Dream public movement.

Meanwhile, Bidzina Ivanishvili has launched an attempt to regain his Georgian citizenship through naturalization. One of his lawyers, Zakaria Kutsnashvili, said on January 11 that Ivanishvili submitted relevant papers to the authorities on January 5.

Without having the Georgian citizenship Ivanishvili, who now has a French passport, has no right to personally either establish or finance a political party.

In March 2011, Bidzina Ivanishvili was ranked 185th in 2011 Forbes List of Billionaires, with a net worth 5.5 billion dollars.

Bidzina Ivanishvili was born the youngest of five children to a poor family in the Georgian village of Chorvila. His father worked in a manganese factory. He graduated high school in Sachkhere and went to Tbilisi State University to study engineering and economics. In 1982, he went to Moscow to pursue a Ph.D in economics at the Moscow State University of Railway Engineering.

The source of his wealth is metals and banking. Forbes’s description of the secret of his success could apply to dozens of other oligarchs. “He bought firms that nobody needed for tens of millions of dollars and sold them for billions of dollars.”

 

 

 

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