Samvel Karapetyan: Who is the billionaire at the center of the Church defense scandal
Russian-based businessman Samvel Karapetyan, considered one of the wealthiest Armenians, is once again in the public eye. In response to criticism directed at the Armenian Apostolic Church, Karapetyan publicly stood by the church with a statement that sparked sharp political reactions. Hours later, the National Security Service (NSS) conducted a search at his house, and law enforcement actions were interpreted as political pressure.
Builder of a Business Empire
Samvel Karapetyan was born in 1965 in the town of Tashir, Lori Province. He received higher education at Yerevan Polytechnic Institute and moved to Russia in the mid-1990s. There, he founded his multi-sector business empire—Tashir Group.
Today, Tashir Group includes around 200 companies working in real estate, construction, energy, trade, and services. The company employs over 30,000 people. Karapetyan has also made significant investments in Armenia, participating in several major projects, including the renovation of Etchmiadzin Cathedral, the construction of a hospital in Stepanakert, and the modernization of the Electric Networks of Armenia.
Wealth According to Forbes
Karapetyan’s wealth has been estimated differently over the years. In 2021, Forbes listed him among billionaires with an approximate net worth of $5 billion. In recent years, according to several sources, his wealth fluctuates around $2.8 to $2.9 billion. In Forbes’ 2023 ranking, Karapetyan was listed at 1104th place globally.
He is considered one of the major players in the Russian real estate sector and is also recognized as a businessman with close ties to the political elites of both Moscow and Yerevan.
At the Center of the Scandal
On June 17, during an event organized at the Mother See of Holy Etchmiadzin, Samvel Karapetyan made a direct, sharp statement defending the church and accusing the authorities of conducting an attack against it.
“A small group, forgetting Armenian history, has attacked the Armenian Church. If politicians fail, we will intervene in our own way,” Karapetyan said.
A few hours after this statement was made, law enforcement officials began searches at his residence in Yerevan. During the operation involving special police units, dozens of individuals, including Karapetyan himself, were detained.
Political and Public Reactions
Following Karapetyan’s statement, the Mother See issued an open support, while opposition circles appreciated his stance as courageous and principled. The authorities responded with counter-statements, and Prime Minister Nikol Pashinyan addressed the issue, accusing the Church and its “oligarch benefactor” of engaging in politics.
For many years, Samvel Karapetyan avoided voicing political opinions, but this time, his direct statement is seen as a change—both in his personal approach and in the political landscape.
