Ukraine Attracts Billionaires: Eric Schmidt Has Invested in Real Estate and Drones
21 July 12:37
Former Google CEO Eric Schmidt and his wife, Wendy Schmidt, have invested tens of millions of dollars in commercial real estate in Kyiv and in Ukrainian companies that manufacture drones. According to international analysts, this signals a shift in big business’s attitude toward Ukraine, which is increasingly viewed not only as a recipient of international aid but also as a promising market for private investment.
This was reported by "Komersant Ukrainian", citing The New York Times.
Former Google CEO Eric Schmidt has been visiting Ukraine regularly since the start of Russia’s full-scale invasion. The first mention of his visits dates back to September 2022. However, most of Schmidt’s visits to Ukraine are private.
According to the publication, Eric Schmidt and his wife have acquired stakes in commercial real estate funds that own shopping centers in Kyiv and are managed by a Ukrainian investment company.
The exact amount of the deal has not been disclosed, but Forbes magazine estimates the value of the acquired stake at $55–70 million.
Investments in Ukrainian Drones
In addition to real estate, Eric Schmidt is investing in Ukrainian companies that develop and manufacture unmanned systems.
In recent years, Ukrainian drones have become a key element of the country’s defense and have significantly influenced the development of modern military technologies. This sector is now considered one of the most attractive areas for foreign investors.
Why Investors Have Begun Putting Money into Ukraine
An article in The New York Times describes the shift in sentiment among the international business community following the conference on Ukraine’s recovery, which took place in Gdańsk.
While international aid was previously the main focus, the emphasis is now increasingly shifting toward private investment.
Foreign businesses view Ukraine as:
- a future major European market;
- a country moving toward European Union membership;
- a country with significant potential once the war ends;
- a promising platform for investments in high technology and energy.
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Not Just Schmidt: What Other Investments Is Ukraine Receiving?
New financial commitments from international partners were also announced during the conference.
Specifically:
- The U.S. Export-Import Bank opened a credit line for Naftogaz of up to $300 million to purchase American equipment and services for the oil and gas industry.
- The European Bank for Reconstruction and Development (EBRD) announced a new financing package of over 500 million euros to support Ukraine’s energy sector, renewable energy generation, and critical infrastructure.
Major international companies are already expanding their operations
Despite the war, a number of international companies that were operating in Ukraine even before the full-scale invasion continue to expand their presence.
Among them are:
- McDonald’s;
- Nestlé;
- other international companies that did not cease operations after 2022.
At the same time, experts note that new major private investors are still entering the Ukrainian market cautiously, although there are an increasing number of positive signs.
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