Who is Alexey Mordashov? This question has been on many people’s minds lately, especially in light of the current political situation in Russia. Mordashov is a Russian oligarch who made his fortune in the steel industry.
He may even be Russia’s richest man and the 55th richest person in the world. This blog post will take a closer look at Mordashov’s life and business ventures.
All About Russian Oligarchs
What is an oligarch, you may ask? An oligarch is a person who has amassed great wealth and power, typically through political means. In Russia, the term “oligarch” has taken on a negative connotation, as many of the country’s richest people have gained their fortunes through corrupt practices.
Mordashov is one of the so-called “Red Oligarchs,” a group of Russian billionaires who made their money after the fall of communism. The red oligarchs are often associated with the Russian president, Vladimir Putin, and his inner circle.
Alexey Mordashov: Russian Oligarch
Early Life & Education
Mordashov was born in Cherepovets, Russia, in 1965. He comes from a working-class background; his parents were both steelworkers.
He graduated from the Leningrad Engineering Economical Institute with an economics degree. For his postgraduate degree in business, he studied at Northumbria University.
Career
After his undergraduate education in Leningrad, he went to Cherepovets to work at the same steel company his parents worked at. He got promoted to finance director before the privatization of the company.
Shortly after, the plant’s elderly director instructed him to buy shares in the company. He started buying up shares in the steel mining company till he became a significant shareholder in the factory. This led to him becoming the Chief Executive Officer of the Russian company in 1996.
He is currently the owner of Severstal, Russia’s largest steel company.
His Investments
Alexey Mordashov is a Russian billionaire with a wide range of investments. In addition to his stake in the steel company Severstal, he also has interests in coal, gold, banking, insurance, and media.
He is the largest shareholder in his personal bank, Bank VTB, and also has a controlling stake in the insurance company SOGAZ. His media holdings include a minority stake in the Russian news channel RT and a majority stake in the online newspaper Vedomosti.
Mordashov’s investment strategy focuses on the long-term growth potential and he is known for taking a hands-on approach to his businesses. As a result of his successful investments, Mordashov is one of the wealthiest people in Russia with an estimated net worth of $18.4 billion.
Personal Life
Mordashov’s marital life is a messy one. He married his first wife, Elena in 1986 and divorced her in 1996. They have a son together. The divorce was messy because his ex-wife sued him for paying a small amount of money as child support.
In 2001, he married Marina Mordashov and they have two children together- Kirill and Nikita Mordashov. Nikita is in the military while Kirill works in the family business. His wife also owns shares in one of his companies.
Philanthropy
Russian billionaire Alexey Mordashov has donated millions of dollars to charitable causes over the years. His philanthropy extends to a wide range of areas, including education, healthcare, and the arts.
In 2010, he established the Mordashov Foundation, which provides financial support to various charitable organizations. He has also been an active supporter of the Skolkovo Institute of Science and Technology, a leading research institution in Russia.
In addition to his monetary donations, Mordashov has also donated his time to various causes. He is a member of the board of trustees of St. Petersburg State University and serves on the board of directors of the Russian Cultural Foundation.
Through his philanthropy, Alexey Mordashov is making a positive impact on numerous aspects of Russian society.
His Luxury Possessions
Mordashov’s wealth has allowed him to indulge in several luxury possessions, including a yacht, private jet, and several properties around the world. In 2008, he purchased Lady M, an 86-meter yacht formerly owned by Roman Abramovich. Lady M is one of the largest yachts in the world and features a helipad, swimming pool, and 12 guest cabins.
Mordashov also owns a Bombardier Global Express 5000 private jet, which he uses to travel between his homes in Moscow, London, and Palm Beach. In addition to his primary residence in Moscow, Mordashov owns property in the UK, France, Italy, and the US.
His real estate portfolio includes a $30 million mansion in Knightsbridge and a $13 million penthouse overlooking Central Park. With an impressive collection of luxury possessions, Alexey Mordashov is truly living the life of the ultra-rich.
Sanctions Placed On Him
In June 2022, the United States government imposed sanctions on Russian billionaire Alexey Mordashov in response to Russia’s “continued malign activity.” The sanctions froze all of Mordashov’s assets in the U.S. and prohibited Americans from doing business with him.
In addition, the U.S. Treasury Department issued a statement saying that Mordashov had “amassed his fortune through corrupt deals with the Russian government.”
The European Union also placed sanctions on Mordashov in 2022, freezing his assets in the EU and banning him from traveling to member countries. This is due to the Russia-Ukraine crisis.
In response to European Union sanctions, Russian billionaire Alexey Mordashov has announced plans to sell his stakes in several EU-based companies. Alexei Mordashov, who is the majority shareholder of steelmaker Severstal, said that he will sell his shares in ArcelorMittal, the world’s largest steel producer.
He will also sell his shares in Swedish- Finnish mining company Outokumpu. The sanctions, which were imposed in response to Russia’s involvement in the conflict in Ukraine, have severely hurt the Russian economy. Mordashov’s decision to sell his stakes in EU companies is a sign of the growing pressure that the sanctions are putting on the Russian Federation.
Conclusion
In conclusion, Alexey Mordashov is a Russian oligarch who has amassed a great fortune through his businesses and investments. He is also a prominent philanthropist, donating millions of dollars to charitable causes each year.