The owner of the company "Bemax" Ivan Ubović, with a fortune of 430.916.634, is the highest-ranked Montenegrin citizen on the list of the 100 richest people in the region in 2025.
According to the list compiled by the magazine "Nedeljnik", Ubović ranks 70th on the list of the 100 richest people in the region.
Right behind him is the owner of the company "Voli", Dragan Bokan, with a fortune estimated at 421.114.020.
The list of the 100 richest people in the region includes two more people from Montenegro - the owner of "Hard Discount Laković", Komnen Laković, is in 91st place with a wealth estimated at 311.427.170 euros, and the owner of "KIPS", Risto Drekalović, who is in 94th place with a wealth of 297.927.624 euros.
The list includes a total of 20 billionaires, led by the owner of "Delta Holding" Miroslav Mišković, whose wealth is estimated at 3.011.403.812 euros. The Kostić family, owner of "MK Group", is in second place with a wealth of 2.918.891.445 euros, while the third place on the list is occupied by the Croat Silvio Kutić ("Infobip") with a wealth estimated at 2.524.942.253 euros.
Below we are quoting the complete text from the site. Big stories.
Two billion euros! That's how much the wealth of the 100 richest people in the region increased in one year. In terms of wealth growth, regional businessmen are following the global trend – Forbes says that over the same period, the wealth of the richest 3.028 businessmen, investors and heirs increased by two trillion.
Despite the crisis, the rich are even richer. Despite the crisis, the majority of companies in the region are growing more than they are falling. And this Nedeljnik List of the 100 Richest in the Region, which we worked on with the leading media in the region, confirms the thesis that large companies are anti-cyclical, that they grow in a crisis. Large systems are robust and have proven that they are resistant to crises. And after the pandemic, that word has become key in business philosophy. More important than growth. A major businessman from Serbia once compared his company to a well-equipped supertanker off Tierra del Fuego that neither storms nor large waves (crisis) can force to change direction.
However, not everything in our region is the same as in the developed world. For example, high-tech companies that led the list of the 100 richest people for the past two or three years are now in a slight decline. Although Serbia has been hit by a major political and economic crisis, the list of the 100 richest people is dominated by businessmen from Serbia (48). After two years of dominance by businessmen from Croatia, a tandem from Serbia has returned to the top of the list. The owner of Delta Holding is once again the richest businessman in the region. He is closely followed by the Kostić family, which has successfully taken over the management of the MK Group.
The top 10 richest include four businessmen from Serbia and six from Croatia – the wealth of the four from Serbia is worth 9,8 billion euros, and the six from Croatia – 10,9 billion euros. The simultaneity of the Croatian and Serbian richest businessmen is first disrupted by a businessman from Bosnia and Herzegovina, who ranked 21st on the List of the 100 richest. The four richest Montenegrins are worth as much as Filip Zepter himself. Undoubtedly, the size of the market plays a decisive role in the wealth of company owners.
The regional market is not large, so Croatian business people have the strategic advantage of the large, but also demanding, market of the European Union. It is no coincidence that Miša Šajatović, editor-in-chief of Lider, who participated in the creation of the list, insisted that the priority for Croatian businessmen is the European market, not the Balkan market, because it is only in such a large market that the value of their business is measured.
The latest list of the 100 richest people in the region is dominated by traditional businesses. The most money is made in trade and distribution, agriculture/agriculture and construction/real estate. But also in games of chance. A recent guest in Belgrade, academician Joseph Stiglitz (rebuking European and even Balkan countries for spending a large part of their money on agriculture) stated that agriculture is an industry of the past. A dozen of the largest businessmen in the region, mostly from Serbia and Croatia, made their fortunes "on the ground". Will Stiglitz's observation force them to make a strategic turn?
TOP 100 – COMPLETE LIST
NAME/COMPANY/VALUE (IN EUR)/COUNTRY
1. Miroslav Mišković Delta holding 3.011.403.812 Serbia 2. Kostić family MK group 2.918.891.445 Serbia 3. Silvio Kutić Infobip 2.524.942.253 Croatia 4. Dejan Čakajac and Jadranka Stepanović Mozzart, Vega 2.075.373.994 Serbia 5. Petar Matijević MI Matijević 1.794.545.863 Serbia 6. Mate Rimac (largest co-owner) Rimac group 1.743.316.832 Croatia 7. Mile Ćurković Plodine 1.734.787.500 Croatia 8. Dubravko Grgić Koncern Agram 1.698.000.000 Croatia 9. Davor Lukšić Lederer Plava laguna Poreč 1.628.787.500 Croatia 10. Pavao Vujnovac Vujnovac group 1.582.000.000 Croatia
11. Emil Tedeski Myberg (Atlantic Group) 1.577.420.285 Croatia 12. Filip Cepter Cepter International 1.470.000.000 Serbia 13. Borislav and Dragan Stanojlović Sportvision 1.366.878.700 Serbia 14. Nermin Sefić GNK ASG 1.352.000.000 Croatia 15. Ljubiša Krstajić Karisma group 1.286.000.000 Serbia 16. Oleg Uskoković Medika 1.244.900.000 Croatia 17. Tomislav Mamić Tommy 1.236.248.000 Croatia 18. Petar Matić Mercata VT 1.199.551.910 Serbia 19. Nebojša Šaponjić and Ranko Sočanac NELT 1.130.332.250 Serbia 20. Dragan Šolak United group 1.118.000.000 Serbia
21. Senad Džambič Bingo 1.046.220.360 Bosnia and Herzegovina 22. Marko Pipunić Žito group 1.025.900.000 Croatia 23. Branko Roglić Orbico group 1.008.995.000 Croatia 24. Nebojša Šaranović KAPPA Star 1.007.277.559 Serbia 25. Bisera Dragičević NIRD 1.001.204.000 Croatia 26. Bogoljub Karić Karić Brothers 1.000.000.000 Serbia 27. Tamara Drk Vojnović and Dubravka Drk Mravlinčić Vindija 988.393.506 Croatia 28. Božidar Petković Peštan 978.535.796 Serbia 29. Stanko Popović Elixir group 929.696.752 Serbia 30. Drago Kamenski Kamgrad 899.304.000 Croatia
31. Živko Mukaetov Alkaloid 892.667.020 S. Macedonia 32. Miroljub Aleksić Alco group 830.977.624 Serbia 33. Ivan Bošnjak and Stojan Vujko Millennium team 897.649.350 Serbia 34. Neven Pivac MI Braća Pivac 885.324.675 Croatia 35. Svjetlan Stanić Stanić Beverages BiH 816.813.437 BiH 36. Petar Ćorluka Violeta 805.681.242 BiH 37. Vuk Hamović EFT 797.700.000 Serbia 38. Petar Pripuz CIOS group 793.236.819 Croatia 39. Ante Vlahović Adris group 781.295.382 Croatia 40. Ivan Žabčić and Marko Vuković HS Produkt 764.080.000 Croatia
41. Ivo Usmiani JGL 732.600.000 Croatia 42. Hastor family Asa Invest, Establish 703.320.987 BiH 43. Branislav Grujić PFB Properties 697.500.000 Serbia 44. Nebojša Iković Milšped 686.828.952 Serbia 45. Kožul family TT Kabeli 673.108.356 BiH 46. Dušan Mojsilović Agromarket 630.751.748 Serbia 47. Dragoljub Zbiljić Energotehnika Južna Bačka 630.084.180 Serbia 48. Ilija Gečev IGM Trade 677.686.488 S. Macedonia 49. Andreja Josifovski Makpetrol 662.038.132 S. Macedonia 50. Davor Macura Alta grupa 616.901.709 Serbia
51. Jasna Stanivuk Magnapharmacia, Magna Real Estate 592.810.992 Serbia 52. Željko Mitrović PINK international 591.696.568 Serbia 53. Risović family Tropic 589.683.379 BiH 54. Srđan Milovanović Prva TV, B92, Kopernikus 554.177.306 Serbia 55. Adrej Jovanović Deka inženjering, Imlek 540.000.000 Serbia 56. Miroslav Aleksa Almex 562.957.146 Serbia 57. Gavrilović family MI Gavrilović 519.500.000 Croatia 58. Milenko Kostić Auto Čačak 506.680.242 Serbia 59. Ivan Katavić KTC 505.000.000 Croatia 60. Zoran Tirnanić DIS 501.164.868 Serbia
61. Tihomir Bajić X&Fifth Quarter Ventures 500.000.000 Serbia 62. Gudeljević family Fero-Term 496.620.000 Croatia 63. Vladimir and Nikola Lazarević Forma ideale 485.381.616 Serbia 64. Hamed Ramić Euro-asfalt 479.834.285 Bosnia and Herzegovina 65. Novak Đoković tennis player 455.000.000 Serbia 66. Dobrosav Bojović Napred, Energoprojekt 451.000.000 Serbia 67. Milija Babvić Fashion 448.162.490 Serbia 68. Bogdan FEAL family 438.711.545 Bosnia and Herzegovina 69. Stipo Matić M SAN group 437.550.000 Croatia 70. Ivan Ubović BEMAX 430.916.634 Montenegro
71. Dragan Bokan Voli trade, Voli motors 421.114.020 Montenegro 72. Milenko Bašić Lager 412.896.776 Bosnia and Herzegovina 73. Petr Nemec Amicus 400.200.000 Serbia 74. Nikola Jokić basketball player 385.000.000 Serbia 75. Veselin Jevrosimović COMTRADE 380.209.860 Serbia 76. Izudin Ahmetlić Hifa Oil 373.701.787 Bosnia and Herzegovina 77. Aleksandar and Dragan Obradović ADOC 372.574.070 Serbia 78. Mirko Habijanec Worker Križevci 369.250.000 Croatia 79. Kosta Čolović, Banja Komerc, Bekament 351.006.740 Serbia 80. Kraljić family Strojopromet 350.796.000 Croatia
81. Milutin Nikolić and Pavle Kavran Invigo capital 350.000.000 Serbia 82. Gudelj family FIS 349.382.940 Bosnia and Herzegovina 83. Mladen Grujić Kompresor 344.811.618 Serbia 84. Đorđije Nicović Irva 344.104.000 Serbia 85. Željko Mandarić Manšped 342.642.750 Croatia 86. Milan Radoičić and Zvonko Veselinović Inkop 339.530.620 Serbia 87. Sanja and Nebojša Petrić Promist, Galens invest 334.573.302 Serbia 88. Nenad Milanović Coing/Clockify 330.000.000 Serbia 89. Grbešić family Mepas 321.443.500 Bosnia and Herzegovina 90. Visar Jakupi and Alajdin Dauti Kipper market 317.822.026 S. Macedonia
91. Komnen Laković Hard Discount Laković 311.427.170 Montenegro 92. Goce Kamčev, KAM 309.187.114 S. Macedonia 93. Gordan Pavlović Pavgord 304.958.750 BiH 94. Risto Drekalović KIPS 297.927.624 Montenegro 95. Radun Nectar family 296.565.590 Serbia 96. Slobodan Kutrevski Pekabesko 293.236.756 S. Macedonia 97. Georgijev Stokomak family 284.414.969 S. Macedonia 98. Rodoljub Drašković Swisslion group 284.186.751 Serbia 99. Drago Malinović Komerc-Mali 276.798.251 BiH 100. Milan Beko Luka Belgrade 265.000.000 Serbia
Technical notes
This List of the 100 Richest in the Region was also compiled by experts from two renowned consulting firms working on the New York Stock Exchange. They used the most authoritative multipliers from the Stern School of Business New York University (and comparative companies) and included the results of market transactions in the region and the world in the analysis. A financial methodology and a series of tools were used that allow for the most realistic value of companies. Quality data was taken into account - turnover, EBITDA, net profit, the so-called cash conversion was calculated, comparisons were made in the same industry among similar companies, as well as accumulated uninvested profit. Our consultants collaborated with the leading investment bank Hefestos Capital and its owner Stefan Petrovic, using its methodology for valuing companies, which they adapted to our region. That bank helped with all the analyses and we believe that the list is the closest thing that reflects reality.
The list of the 100 richest people in the region was realized in cooperation with leading media in the region: the Slovenian daily newspaper Finance (and the Finance Manager portal), the Croatian economic weekly Lider, the Bosnian and Herzegovina daily newspaper Oslobođenje, and the economic portal Kapital from North Macedonia.
Lider has traditionally ranked the largest companies by total revenue from financial statements for 2024. Based on this data and using its own methodology for assessing the value of companies, stock market analysts hired by Nedeljnik managed to standardize the methodology. Due to these subsequent calculations, differences arose in the ranking of Croatian businessmen between the list published by Lider and the List of 100 Richest in the Region published by Nedeljnik. In agreement with our colleagues from Finance, we did not include the richest Slovenians in the List of 100 Richest in the Region because the methodology used by Finance Manager is not compatible with the methodology used by Nedeljnik's stock market experts. We publish part of the list of Slovenian millionaires with their consent.
The richest in Slovenia (by asset value in millions of euros)
1. Vesna and Dari Južna Perspektiva 511 2. Iza Sia Login* Outfit7* 414 2. Samo Login* Outfit7* 414 4. Šešok Iskra Family 381 5. Boštjan Bandelj Belektron 324 6. Jure Knez Dewesoft 316 7. Damian Merlak Bitstamp* 313 8. Ivo and Anastasia Taja Boscarol Pipistrel* 263 9. Marko Pistotnik Outfit7* 252
Bonus video:
