Information published by independent design company IFL Watches on the value of wristwatches worn by NATO leaders has reignited public debate in North Macedonia over the personal wealth of Prime Minister Hristijan Mickoski, raising broader questions about transparency, pre-political earnings, and standards of accountability.
According to IFL Watches, which compiled estimates for 20 leaders of NATO member states, Mickoski wears a Swiss-made IWC watch valued at around $6,900, placing him among the leaders with more expensive timepieces. The data was first reported by the portal Racin. By contrast, Norway’s Prime Minister Jonas Gahr Støre reportedly wears a Swatch worth $84, the lowest-priced watch on the list.
Mickoski’s watches have long been a subject of domestic public interest. The prime minister has previously spoken openly about them, presenting them as a personal trademark. In a televised interview, he said one of the watches he wore was a gift from his wife, a Macedonian language professor at the “Orce Nikolov” high school in Skopje.
However, the latest ranking by IFL Watches has shifted the focus from personal taste to wider questions: how wealthy is the prime minister, when was his wealth accumulated, and from which sources.
During a parliamentary session on MPs’ questions, Mickoski stated that he had paid approximately €500,000 in personal income tax over the course of his career. Given that North Macedonia’s personal income tax rate is 10%, this implies total earnings of roughly €5 million.
While this figure has not been independently verified through detailed public records, it remains the only direct indication of Mickoski’s earnings provided by the prime minister himself.
Ruling party response
In response to criticism from the opposition Social Democratic Union of Macedonia (SDSM), Mickoski’s party, VMRO-DPMNE, said it was “no secret” that he had worked in the private sector before entering politics, particularly in the energy industry, where he cooperated with “well-known international companies” and earned substantial income.
The party said Mickoski ceased all business activities upon entering politics and insisted that his income was earned legally, transparently and fully declared.
Publicly available information on Mickoski’s wealth is contained in his asset declaration submitted to the State Commission for the Prevention of Corruption on 27 April 2024, shortly after parliamentary elections.
According to the declaration, Mickoski owns a 343-square-metre house in the Skopje neighbourhood of Vlae, valued at €437,000, purchased in 2014. He declared a loan of 406,000 denars (approximately €6,600), a relatively small amount compared to the value of the property.
He also declared two wristwatches: one valued at €13,400, acquired in 2015, and another worth €39,000, purchased in 2016 – a period when Mickoski served as director of the state-owned electricity company ELEM. The declaration also lists a painting valued at €10,000. No vehicle was declared.
IFL Watches’ estimate of the IWC worn by Mickoski – roughly €5,800 – is significantly lower than the values listed in his asset declaration. This discrepancy has prompted speculation over whether Mickoski owns additional watches or whether different valuation methods are being used.
Political fallout and social context
SDSM said Mickoski’s declared watch collection is worth around €60,000, equivalent to approximately 150 minimum monthly wages in North Macedonia, where the minimum wage stands at €396.
The opposition argued that an average worker would need more than 12 years of income, without spending on anything else, to earn that amount, linking the debate over luxury items to broader concerns about living standards and wage growth.
VMRO-DPMNE rejected the criticism, counter-attacking former SDSM officials and accusing them of unexplained wealth accumulation while in power. The party said any suspicions of wrongdoing should be addressed by prosecutors and courts.
NATO leaders and personal style
IFL Watches says leaders’ choice of wristwear often reflects personal background and leadership style. Among those with the most expensive watches are Belgian Prime Minister Alexander De Croo, wearing a Franck Muller valued at $19,000, and U.S. President Donald Trump and Slovak Prime Minister Robert Fico, both associated with watches estimated at around $15,000.
In the “mid-range” category, alongside Mickoski, are Albanian Prime Minister Edi Rama with a Montblanc worth $4,700, and Greek Prime Minister Kyriakos Mitsotakis with a Zenith valued at around $9,000. Nordic leaders and Canada’s prime minister tend to wear much cheaper models, mainly Swatch watches.
IFL Watches stresses it is an independent company with no formal links to the brands mentioned.
Structural transparency gap
While asset declarations provide a snapshot of what officials claim to own, they do not require detailed disclosure of how and through which companies’ income was generated before entering politics. Such disclosure is not mandated by law in North Macedonia.
This structural gap between formal transparency and public scrutiny lies at the heart of the debate. Through the symbolism of luxury watches, the controversy has once again highlighted unresolved questions about political accountability, wealth disclosure and social inequality in North Macedonia.