The UB Post is featuring a list of the wealthiest politicians in Mongolia based on the Independent Agency Against Corruption’s recent disclosure of the 2015 income statements of new Cabinet and Parliament members.
The annual income statement requires high ranking officials to report on their income, property, vehicles, livestock, jewelry, art, historical artifact, cash, savings accounts, and loans.
We have identified the richest MPs under eight categories as followed:
MP J.Ganbaatar had the highest income in 2015 out of new law makers elected this year, with an annual income of a whopping 10.3 billion MNT. This is almost twice the amount of income earned by the former politician with the highest income, G.Batkhuu, who made 5.7 billion MNT in 2015.
MOST VALUABLE PROPERTY
MP A.Sukhbat owns two commercial properties worth 9.2 billion MNT. MP and Minister of Environment, Green Development and Tourism D.Oyunkhorol came in second in this category with four properties worth 8.75 billion MNT
MP A.Sukhbat leads this category, with jewelry worth 2.2 billion MNT under his name. In the previous Parliament, MP O.Sodbileg topped this category, with jewelry worth 750 million MNT and President Ts.Elbegdorj came in second place, with jewelry worth 635 million MNT.
Most politicians owned one or two vehicles but MP B.Narankhuu reported that he owns five vehicles; a Land Rover Range Rover, Land Cruiser Standard and three Rolls-Royce Phantoms. B.Narankhuu’s vehicles are worth 1.185 billion MNT in total.
MP B.Narankhuu not only has the most number of cars but also has the most savings out of all Mongolian politicians. According to his income statement, he has 21.19 billion MNT in his savings account. Another diligent saver is MP L.Bold, who has 17.86 billion MNT in his savings account.
MP N.Oyundari will easily repay her loan of 60 million MNT if her family tips in on top of her own annual income of 19.5 million MNT. Her family members earned a total of 1.84 billion MNT in 2015, which is considerably higher than the amount earned by other MPs’ families.
BIGGEST LIVESTOCK HERD
MP and Minister of Defense B.Bat-Erdene has had the biggest livestock herd among politicians for several years. He reported that he owns 430 horses, 60 cows, 20 race horses, 400 goats, and 3,000 sheep in his 2015 income statement. However, he might need to reconsider his choice of livestock as his herd of animals is worth less in monetary value than Speaker of Parliament M.Enkhbold’s 60 race horses and 300 horses. B.Bat-Erdene’s livestock is worth up to 618 million MNT but M.Enkhbold’s horses are worth 900 million MNT.
MOST EXPENSIVE LAND
MP M.Bilegt owns a land spanning 1,684 square meters, which is worth 4.21 billion MNT.
Richest Cabinet member: S.Byambatsogt
The following list shows the annual income, stocks and loans of new ministers.
Member of Parliament, Minister of Justice and Internal Affairs
|Annual Income||4.06 billion MNT|
|Stock||Tavantolgoi shareholding company, Business Development Group LLC, Zoos Goyol JSC, Silikat JSC, Future Technology LLC, Agrotech Impex Pte Ltd, Erdenes Tavan Tolgoi JSC|
Minister of Finance
|Annual Income||1.38 billion MNT|
|Stock||Khurd Group LLC, its branches Khurd Khuns LLC, Khurd Auto LLC, Khurd Trans LLC, Khurd Resource LLC, Khurd Center LLC, Khurd Standard LLC, Khurd Mining LLC, Khurd Capital LLC, Khurd Energy LLC, Khurd Properties LLC, Rapid Harsh LLC, South Gobi Black Gold LLC, and Apartment K H LLC; Govi Goyo Saikhan LLC, Umniin Goyo Govi LLC, DTs-Ulaanbaatar OOO LLC, Agenlogistic Bridge LLC, United Trans Group LLC, Bellevue Properties LLC, National Mining LLC, Monkon LLC, and Tumen Nairamdal LLC|
Member of Parliament, Minister of Environment, Green Development and Tourism
|Annual Income||267 million MNT|
|Stock||Otgontenger LLC, Solterra Partners LLC|
Minister of Food, Agriculture and Light Industry
|Annual Income||172.8 million MNT|
Minister of Roads and Transportation
|Annual Income||123 million MNT|
|Stock||Soyo Khairkhan LLC, Khujirt Hot Spring LLC, Govi JSC|
Minister of Education, Culture, Science and Sports
|Annual Income||89.5 million MNT|
Minister of Construction and Urban Development
|Annual Income||60 million MNT|
Minister of Health
|Annual Income||38.4 million MNT|
|Stock||Ulzii Den LLC|
|Loan||2.6 billion MNT from Khaan and Golomt Banks|
Minister of Labor and Social Welfare
|Annual Income||28.78 million MNT|
Minister of Mining and Heavy Industry
|Annual Income||27.7 million MNT|
|Stock||UB Palace LLC, Narantsolmon Holding LLC, Narantsolmon Trade LLC, Narantsolmon Mining LLC, Akhmadiin Khuch Khorshoo LLC, Govi Tugalga LLC, Torgon Khelkhee LLC, SMIT LLC|
Minister of Energy
|Annual Income||24 million MNT|
|Stock||UCS LLC (25 percent shares)|
|Loan||100 million MNT from Golomt Bank|
Minister of Defense
|Annual Income||18.99 million MNT|
|Stock||Ajnai Corporation LLC, Tavan Tolgoi JSC, Invest Capital JSC, MEK Partners LLC, VVU JSC, MMC, Capitron Bank|
Member of Parliament, Minister of Foreign Affairs
|Annual Income||1.802 million MNT (including family members’)|
|Stock||Ulziit LLC, MCS Mining Group Limited LLC, Goyo LLC, Gera Investment Ltd, Thunderbolt LLC|
|Loan||18,851,000 MNT from MCS Holding LLC|