Last year’s wage records paid to an insolvency administrator and the chief of airBaltic

This much is detailed in the 20th July issue of IR magazine. Ventspils ex-Mayor Aivars Lembergs’ debt*, however, remains unmatched.
The magazine compiled information for 20 wealthiest Latvian state officials in 2022.
The leader of this “rating” is Vigo Krastiņš, the insolvency administrator of PNB Bank. This bank lost its licence in 2020. In 2022 he earned from the insolvency process and his work as a sworn attorney an average of EUR 109 000 a month. According to IR,

this is equal to nearly 14 state president’s monthly wages.

Krastiņš was almost as wealthy in 2021, because, when compared with last year, his income has increased by “only” 5%.
The list’s “vice-champion” is Latvian state airBaltic’s board chairman Martin Gauss. In 2022 he earned an average of EUR 105 920 every month (EUR 1.27 million together), which is a significant jump for his income.

Compared with 2021, his income has increased by 53%!

But it is worth adding here that even though in 2022 the airline had successfully reduced its losses by two and a half time when compared with covid-busy 2021, it still operated with losses worth EUR 54 million. The airline explains that together with his wage, Gauss was also paid the amounts held back during Covid-19 pandemic.
Additionally, according to IR magazine, the two previous officials are far ahead of other people on the list. KVV Liepājas metalurgs’ insolvency administrator Argita Jaunsleine earned an average of EUR 25 000 a month last year.
The head of another partially state-owned capital association Tet (previously Lattelecom) board chairman Uldis Tatarčuks, who is in fourth place on the list, earned “only” EUR 24.3 thousand a month last year.
Vigo Krastiņš reported in his income declaration the income received from his economic activities (a total of EUR 1 245 452.61), but also the “gift” received from PNB Bank – EUR 280. He also reported dividends paid by Virši company – EUR 29.04.
His second biggest income position consists of dividends from sworn law firm Skrastiņš un Dzenis revenue – EUR 64 160. Krastiņš has no savings in any private pension funds. He does have accumulative life insurance. The sworn attorney’s cash savings and bank accounts, gifts and loans – while not exceeding EUR 80 000 – seem rather “modest” despite him earning more than a million a year.
Gauss’ reported savings on bank accounts for 2022 accounted for EUR 645 929. His reported loan amounts reached EUR 816 236 last year. He also listed two Tesla cars (released in 2019 and 2021), an Audi e-tron (released in 2022) [even though airBaltic criticised the rent of these cars], as well as a Mercedes GLE (released in 2019).
*IR rating reminds that the debts of the ex-Mayor of Ventspils and Ventspils City Council deputy accused of severe crimes Aivars Lembergs – EUR 15.6 million – is the biggest amount listed in state officials’ income declaration’s debt section.
Also read: Latvian Ministry of Welfare suggests increasing part of pensions at state budget’s expense