Gennadiy Balashov, a well-known Ukrainian businessman, politician, and the founder of the 5.10 party, has died at the age of 64 in the United States. Over the decades, Balashov remained a controversial figure, evolving from an ambitious entrepreneur and member of parliament to a blogger noted for his loud, often pro-Russian statements and scandals.
Born in Dnipro, Balashov studied economics at university and began his career in business and politics in the late 1980s. He established several cooperatives, but his ventures were often accompanied by debt and financial difficulties. These challenges pushed him toward a political career.
In 1998, Balashov became a member of the Ukrainian Parliament and then attempted to form his own political parties, mostly promoting populist programs. After his parliamentary term, he returned to business, worked in real estate, wrote books, and made media appearances.
His greatest fame came in the 2010s when he promoted the 5.10 movement, which advocated for a liberal tax reform with minimum state intervention. The party and Balashov became symbols of radical libertarianism, noted for their colorful populism and eccentric campaigns.
In 2021, he was embroiled in a language controversy after criticizing the status of the Ukrainian language and urging people to emigrate. He also faced accusations of tax evasion and real estate fraud, was investigated and temporarily detained.
During the war, Balashov moved to the United States, remaining active as a blogger with a frequent pro-Russian rhetoric. This led to Ukrainian sanctions against him, with loss of his citizenship and assets.
Gennadiy Balashov leaves a legacy as one of the brightest yet most divisive figures in Ukraine's business and political arenas. His main contribution was promoting economic freedom and entrepreneurship, even though his actions and statements were often controversial and widely debated.
