Georgian businessman losses $1.7bln due to unrest in Kazakhstan

Mikheil Lomtadze, a Georgian businessman in Kazakhstan, has lost $ 1.7 billion amid ongoing unrest in Kazakhstan.

His property was reduced by about 32%, Forbes reports.

At the moment, the Georgian businessman’s fortune is $ 3.5 billion and he is 956th in the Forbes’ rankings.

Lomtadze is one of the owners of the fintech company Kaspi. 

The company is the largest provider of financial services in Kazakhstan which is being used by seven million people in the country out of a total 18.5 million.

Shares of the largest Kazakh companies, including Kaspi.kz, fell sharply on the London Stock Exchange amid anti-government demonstrations in Kazakhstan. Kaspi lost more than 30% in one trading day yesterday.