Last year Marcis Martinsons was on the 1st place on the list of Latvia’s Top 100 earners, leaving behind the largest earners of previous years: ABLV Bank owners Oleg Fil and Ernests Bernis, according to a study by journalist Lato Lapsa, Lursoft and Kapitals magazine.
Lursfoft IT board member Daiga Kiopa informs that the 22-year-old Martinsons has managed to take the lead from the largest earners of previous years.
«In the entire history of this list, we have never seen a precedent in which such a young businessman took the first place. It should be added, however, that this accomplishment was only possible because the young businessman’s wealthy father, Maris Martinsons, and the young businessman’s direct revenue from previous financial results of BE projekts, MM investments, Profs Real Estate may be minimal. Nevertheless, conclusions based on publicly believable data and documents reflect the following – the total revenue volume from Martinsons’ owned companies exceeded EUR 30 million in 2014,» – admits Kiopa.
The 1993-born Marcis Martinsons holds 100% of stocks in MM investments, which holds stocks in 16 companies – Moduls-Rīga, GRIF 23, MMA Invest, Palladium Rīga, Extron Investments, BE Projekts, viensviens.lv, Agelluss rosae, Dzintara rezidence, Priežceļi, LENVEST, MM investīciju risinājumi, Moduls Interjers, MN Invest, AN Projekts and GRIF 29, according to information from Firmas.lv.
The previous owner of MM investments was Marcis’ father – Maris Martinsons.
Since September 2014, Marcis Martinsons is the owner of 70% of shares in Profs Real Estate. In addition, he owns 50% of shares in BE Projekts.
In September 2014, accused of financial crimes, Maris Martinsons left the post of Chairman of the board of Moduls-Rīga. Due to the investigation launched in regard to defrauding of VAT, Maris Martinsons also left his post as deputy Chairman in Moduls Rīga in July 2015.
He explained that his decision to resign is related to the ongoing investigation processes he is involved in.
The name ‘Moduls Rīga’ was mentioned in summer 2014 in relation to Finance Police’s launched case against companies that possibly use fictive firms in order to defraud VAT from the state. The criminal group remained active for two years. The total estimated damage to the state budget is more then EUR 11 million.
The police hold Jelgava Court Chairperson Iveta Salaka’s husband Juris Salaka and civil wife of KNAB operative Janis Mikelsons, Anta Disereite, suspect of organizing the criminal group. Disereite’s role in the criminal group was to sort out accounting. Finance Police requested to have her put under arrest, but the court released her in exchange for bail of EUR 50,000.
In 2013, police launched an investigation of Maris Martinsons’ owned company Evopipes for a possible attempt to defraud money from European funds. Evopipes had signed a contract with Latvian Agency for Investments and Development in 2009. The total value of the contract was EUR 5 million. Evopipes stated the requested equipment will be supplied by German and Polish companies. However, the agency noticed that the Polish company offered equipment for prices significantly above market prices. Once employees of the agency found out the Polish company has not been carrying out any economic activities for a long period of time, Latvian Agency for Investments and Development refused to provide co-financing to Martinsons’ company. Evopipes called off the request for money, but police had already launched an investigation by then.
Creators of the list of earners say this year’s list did not bring too many surprises. The 2nd place is held by ABLV Bank owner Oleg Fil with EUR 27,434,000. The 3rd place is held by ABLV Bank co-owner Ernets Berins with EUR 26,859,000.
Similar to previous years, the list mainly consists of men, which is backed by statistics – only 18% of the biggest earners are women. It is worth mentioning that only 12% of the largest earners in last year’s list were women. The average age of top earners is 51 among men and 46 among women.
The latest list of TOP 100 earners in Latvia was compiled based on information from Lursoft and Enterprises Register. As for banks – information about their financial developments was taken from their annual accounts.