Bulgarian Daily Announces Richest Person

Tzolo Voutov was announced the richest Bulgarian by the country's Pari Daily. Photo by geotechmin.com

The richest Bulgarian is the President of Geotechmin, Tzolo Voutov, according to the Bulgarian business daily "Pari."

In a special edition, which ranks the top 100 of the richest Bulgarians, Pari daily announced that Voutov's fortune amounts to BGN 438,2 M. He is President of Geotechnim, a company which has activities in the mining and construction industry.

The survey by Pari Daily aimed at distinguishing the companies and names of people who have the biggest contribution to the creation of the country's GDP.

"These are key to the Bulgarian economy people, who regardless of their reasons create not only personal, but also social wealth and work for hundreds of people in the country," the publications states.

The ranking is based on public information. The sources include financial statements and ownership data, published in the Commercial Register, as well as information from the Bulgarian Stock Exchange, the National Statistics Institute, the State Gazette and media reports on transactions with other companies.

"We sorted the key indicators of some 1000 companies and this is a very, very big deal. For us, as a business newspaper, the important businesses are the ones who generate revenues and profit. We are interested in working business models, rather than how anyone would want to demonstrate success," Liliya Apostolova, Executive Director of "Pari," told the Bulgarian National Radio.

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