The Russian billionaire landscape is characterized by a remarkable assemblage of influential figures who have accumulated vast fortunes through diverse ventures. These individuals not only wield significant financial power but have also left indelible marks on various initiatives ranging from oil and gas to technology and retail.
This document provides an insightful list detailing the net worth and business endeavors of some of the most prominent billionaires in Russia, shedding light on their journeys, partnerships, and strategic investments that have propelled them to the apex of wealth.
German Khan
In the Biography of German Khan, it is noted that the billionaire’s net worth is estimated to be $8.5 billion. He started his first business after graduating from university, engaging in tailoring and selling clothes at the cooperative “Alexandrina” with Alexander Furman, a future State Duma deputy. In 1989, he joined “Alfa-Photo” with Mikhail Fridman and Alexei Kuzmichev, whom he knew from MISiS.
He is the second-largest owner, after Fridman, of LetterOne Holdings (L1), which includes the German oil and gas company Wintershall DEA (33%), VEON (56.2%), Turkcell (19.8%), and the assets of the Alfa-Group consortium (Alfa-Bank — 90.1%, AlfaStrakhovanie, X5 Group — 47.9%) (as of February 24, 2022).
Leonid Fedun
His net worth is calculated to be $10.5 billion. His first business venture included working as a lecturer in the “Knowledge” society, where he met Vagit Alekperov in Kogalym in 1987. In 1995, he founded the brokerage company “Lukoil-Reserve-Invest,” which became the foundation of a future investment holding. As of September 31, 2021, he owns a 9.3% stake in Lukoil and, together with Alekperov, is a co-owner of the company “Private Assets,” which manages their closed-end funds.
Andrei Skoch and Family
An entrepreneur with a fortune of $6.7 billion, he met Alisher Usmanov in the early 1990s while attempting to purchase a batch of oil for the Moscow Oil Refinery. Although the deal fell through, they became partners. His assets include a 30% stake in USM and a 61.5% stake in Vnukovo Airport, managed by his father Vladimir Skoch and daughter Varvara.
Iskander Makhmudov
Has a net worth of $8.3 billion. He began his career at the Ministry of Foreign Economic Relations of the USSR, meaning the country’s interests in Libya and Iraq, and earned his first capital trading consumer goods. In 1994, he met Andrey Kozitsyn, with whom he bought shares of “Uralelectromed,” which became the foundation of UMMC. His current capital includes the Violan holding, which owns stakes in various companies such as the Transport Components Group, the Central Suburban Passenger Company, the National Agricultural Company, and the Seaport in Trinity Bay.
Dmitry Bukhman
Dmitry Bukhman’s net worth is $9 billion. Dmitry began his career while still in high school; he and his brother Igor started earning from selling online games, making their first $60 in a month from four buyers. Currently, he and his brother own the company Playrix.
Viktor Vekselberg
In 1988, he organized a software development cooperative, and in 1989, he created the “KomVek” Scientific and Production Enterprise, which earned money by exporting stripped copper cables abroad. In October 1990, together with his college friend Leonard Blavatnik (No. 52 on the global Forbes list), who was already a U.S. citizen, he founded the joint venture “Renova.” His net worth is estimated at $7 billion, and his capital includes stakes in U.C. Rusal (12.58%), Swiss companies Oerlikon (18.98%) and Sulzer (48.82%). In March 2013, he received $7 billion from selling his stake in TNK-BP to Rosneft.
