Gevorg Nalbandyan
Gevorg Nalbandyan is the controlling shareholder of "Radio Van," owning the company indirectly through his wholly-owned GMLC LLC, which holds a 49% stake. Beyond media, Nalbandyan operates diversified businesses spanning food production, furniture manufacturing, trade, and aviation.
The Armenian multimillionaire businessman moved to Sweden at a young age and built his fortune through Swedish Smokeless Solutions (formerly GN Tobacco), a company specializing in snus production and export. His Swedish operations generated approximately 500 million SEK (roughly $47.3 million USD) in earnings, though he paid only 15% tax by utilizing a double taxation agreement with Armenia. This arrangement attracted regulatory scrutiny: the Swedish Tax Agency imposed fines, and Swedbank blocked Nalbandyan's accounts due to suspicious transfers totaling tens of millions to Russia, Azerbaijan, and Armenia, plus 40 million SEK (approximately $3.8 million USD) to his personal Swiss account.
Nalbandyan's citizenship status changed from Swedish to Armenian between 2022 and 2023. Since establishing Armenian residency, he has actively acquired various domestic businesses which, according to "Joghovurd" newspaper, primarily report tax losses. His aviation interests began in February 2021 when he acquired a 50% stake in "Hayways" airline, expanding to full ownership by May 2025.
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| affiliated_business_interests | Food & Beverage
Manufacturing
Retail
Transport & Logistics
Finance
Architecture and Related Services
Telecommunications
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| Data Publicly Available | ownership data is easily available from other sources, e. g. public registries etc. | |
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| Meta Data | Biographical information about Gevorg Nalbandyan is limited in public sources. Information about his activities has become partially accessible through investigative journalism and regulatory proceedings. | |
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