Wealth-X, the ultra high net worth (UHNW) intelligence provider, has uncovered what it says is Albania's first billionaire: ex-refugee Samir Mane, president and CEO of Balfin Group.
He introduced the first shopping mall and logistics park to the southeastern European nation and his fortune is estimated to be US$1.2 billion.
Wealth-X CEO Mykolas D. Rambus said: "Little is known about the ultra wealthy in emerging economies such as Albania but with relative peace comes prosperity and we expect to uncover more UHNWs in Albania and its neighbouring countries."
Mane's Balfin Group is Albania's largest privately owned company, focusing on real estate, property management services, investment and electronics and fashion retail. Neptun, his Vienna-based consumer electronics business, has more than 20 outlets in Albania, Bosnia-Hercegovina, Kosovo, Macedonia and Serbia.
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The self-made billionaire left Albania for Austria in 1991 when Communism fell and was housed in the Traiskirchern refugee camp, 20 km from Vienna, before he was transferred to Altenmarkt. He briefly worked as a translator before starting Albatrade in 1993, an electronic appliances trading company selling televisions and video recorders through a chain of stores in the Albanian capital Tirana.
Mr Mane, as president and CEO of Balfin Group, opened Qendra Tregtare Univers, the first and most successful shopping centre in Albania. In 2011, the Group invested €48 million euros (US$66.72 million in 2011 rates) to build Tirana East Gate, which has become the country's biggest shopping centre at 90,000 square metres.
Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally, defined as those with assets of US$30m and above. Headquartered in Singapore, Wealth-X has 12 offices around the world.
