That business has also benefited from pandemic-driven disruptions prices for commodities such as steel and coal have climbed as shipping bottlenecks pile up around the globe, sending revenues soaring for companies that move commodities in bulk.
#THIS ANIMAL I HAVE BECOME PLUS#
Starting with the fall of communism in the 1990s and kicking into gear in the 2000s as Bulgaria entered the European Union, the two brothers have turned a string of investments in these privatized firms, including Huvepharma, into an estimated $4.2 billion fortune that also has interests in real estate and soccer.įorbes estimates that Kiril and his younger brother Georgi, 49, each have a $2.1 billion fortune, made up of equal stakes in their jointly owned conglomerate, Advance Properties, plus cash from past sales and dividends.Īdvance’s next-largest asset after Huvepharma-which makes up 77% of the brothers’ fortunes-is a 70% stake in bulk cargo shipping firm Navibulgar. Kiril was also made an honorary citizen of Nebraska in 2019 for Huvepharma’s investments in the Cornhusker State.įrom a nondescript office building in the Bulgarian capital of Sofia, the Domuschiev brothers have built their multibillion-dollar empire by privatizing state-owned firms and expanding them. That’s helped its owners-brothers Kiril and Georgi Domuschiev-become Bulgaria’s first ever billionaires. A major producer of veterinary medicines and vaccines as well as additives for livestock feed, Huvepharma posted $658 million in revenues in 2020, up 21% since 2018. One of the winners has been Sofia, Bulgaria-based Huvepharma, the world’s sixth-largest livestock health firm, with operations stretching from a vaccine factory in Lincoln, Nebraska to a pharmaceuticals plant in northwestern Italy. "Now that we're more familiar with zoonotic diseases, there's a long-term trend for higher production of (animal) vaccines,” says Citigroup analyst Navann Ty.