Who Are the Richest Newly Elected MPs in the National Assembly?

Following the parliamentary elections on June 7, 2026, the newly formed 9th convocation of the National Assembly will see the "Civil Contract" party hold 64 mandates, the "Strong Armenia" alliance 29 mandates, and the "Armenia" alliance 12 mandates. CivilNet has examined the latest declarations of the newly elected MPs, which were submitted to the Central Electoral Commission prior to the elections. These declarations include data on the property and income of MPs from April 1, 2025, to the same period in 2026. We have highlighted the three richest MPs from each faction.

Civil Contract
Among the richest newly elected MPs from the "Civil Contract" is Rustam Bakoian, one of the candidates elected from the national minority list. He has declared around 140 million drams and 46,000 dollars. This income has not been earned from his parliamentary salary, but rather from agricultural activities. Bakoian has received more than 14 million drams in income from his position as a Member of Parliament. He owns one apartment in the Norq-Marash administrative district of Yerevan (55 sq. m) and an individual residential house in Nor Kyanq village of Ararat Province (322 sq. m).

The second richest among the MPs of the Civil Contract is Gor Arshakyan, who previously served as the executive director of the "Aragatsotn" water users' company. He has declared 14.3 million drams in bank deposits, 17 million drams in cash, and 5,000 dollars. He possesses residential properties in Ashtarak city of Aragatsotn Province, as well as a structure and land in the same province, and one apartment in the Malatia-Sebastia administrative district of Yerevan.

Tigran Galstyan, head of the transport section at the Institute of RadioPhysics and Electronics of the RA National Academy of Sciences and a private entrepreneur, ranks third on this list. His liquid assets total 13.6 million drams, 31,800 dollars, and 2,600 euros. He has received donations of more than 9,000 dollars each from two individuals. The newly elected MP owns plots of land in Ashtarak city of Aragatsotn Province, public-purpose buildings, and an apartment.

Strong Armenia
The richest five MPs from the "Strong Armenia" alliance is headed by Narek Karapetyan, the political force's leader and the nephew of businessman Samvel Karapetyan. Karapetyan has declared 16.5 million drams, over 1.8 million dollars, and 2.1 million euros. He owns several plots of land in Lori Province (approximately two hectares in total) and possesses two vehicles: a 2021 Mercedes-Benz S580 Maybach and a 2025 Toyota Camry 2.5. Karapetyan's income comes from his salary at "Tashir Capital" and a donation of approximately 56.2 million drams from Arthur Hovagimyan. He holds a 100% ownership stake in "Tashir Agro", nearly complete ownership of "Syunenergashini" and half of "Ri Tower". He is also the wealthiest among all the newly formed parliament's MPs.

Second is Davit Ghazinyan, who has declared 100 million drams, 200,000 dollars, and 50,000 euros. Ghazinyan owns several properties in Yerevan, including residential houses in Kanaker-Zeytun and Arabkir, land in Ashtarak, as well as plots of land in Kotayk Province. His vehicle fleet includes a 2025 BYD Sea Lion 06 EV, a 2024 Lixiang L9 Ultra 1.5 Plug-in Hybrid, a 2022 Volkswagen ID6 Crozz Pro, and a 2018 Toyota Camry. Ghazinyan has received around 19.6 million drams in salary from the "Hrazdan Energy Company" and has stakes in four different companies.

The third position is held by Aram Vardevanyan, Samvel Karapetyan's attorney and founder of the "Gen Fi Financial and Technical Office" company. He has declared 175 million drams and 29,000 dollars in cash. Vardevanyan owns a parking lot and two apartments in Yerevan (according to purchase contracts), as well as two cars: a 2024 BYD Yuan Plus and a 2022 Lexus RX 350. His sources of income include "Nairi Insurance" (where the real beneficiary is the son of the second President of the Republic of Armenia, Levon Kocharyan), "Tashir Capital", and the "Gen Fi" office, from which he has received a salary, as well as funds received from "Erebuni Plaza". He holds a 67% stake in the "Gen Fi Financial and Technical Office".

Armenia Alliance
Strangely enough, the richest member of the "Armenia" alliance is not Levon Kocharyan, the son of second President Robert Kocharyan, but MP Lilit Galstyan. She has a deposit of 20.5 million drams and 138,000 dollars, as well as 2 million drams in cash, plus 795 euros and 265 dollars. The majority of her income was derived from her salary as an MP, totaling 14 million drams in one year, and from a deposit at Hayekonom Bank, totaling 2.6 million drams. She also owns two apartments in Yerevan, located on Paronyan and Vardanants streets, one of which is solely owned.

Next is Mesrop Manukyan, the general director of "Ani" LLC and the first registered member of the Yerevan City Council in the National Assembly. He has declared 57.1 million drams, 20,000 euros, and 21,200 dollars. He has a 14.02% stake in the same company, from which he earned more than 144 million drams in income in one year as director.

In third place is Arthur Khachatryan, who has declared more than 22 million drams (both liquid and cash) and 18,000 dollars (from deposit and current account). He has a residential property and a parking lot on Adonts Street in Yerevan, a share of a residential house in Kond, and a plot of land in Yeghvard, in addition to movable property which includes a 2013 Mitsubishi Pajero 3.5. He is also the sole owner of the non-operational "Agrimak" LLC.

Noteworthy Facts from the Declarations of Newly Elected MPs
From the Civil Contract, Levon Levonyan, a former member of the Yerevan City Council and former head of the Inspection Body for Environmental Protection and Natural Resources, declared cryptocurrency—1.5 Ethereum, currently worth 1 million drams. There are also MPs from the Civil Contract who have declared an apartment or vehicle but left their cash assets section entirely blank (0 drams). Such examples include Arusyak Manavazyana, Tsovinar Vardanyan, and Arpine Davoyan. From Strong Armenia, Davit Ghazinyan declared a hand-wound "Breguet Marine" watch valued at 10 million drams. Grisha Tamrazyan declared a watch worth 22,000 dollars—"Hublot Big Bang Aero Bang." The list contains individuals who were not working at the time of candidacy but are in possession of significant wealth; for instance, Grisha Tamrazyan reported that he was not employed but had around 101 million drams in liquid assets and a 22,000 dollar watch. Vahinak Vardanov (whose father is a military figure and founder of the military patriotic organization "Art of Survival Vova Vardanov") also noted he was not working but received about 65 million drams in income over the year (mainly from loans) and declared three SUVs (Jeep, Ford, Toyota). Narek Karapetyan also received over 56 million drams from an individual.

From the Armenia alliance, Ishkhan Saghatelyan declared a ring valued at 8 million drams among his expensive items, but left the movable property (vehicle) section blank.

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