Gold Magazine September - October 2013, Issue 30 | Page 18

Alisher
UsmAnov (60)

up front

RUSSIA’S RICHEST

Co-Owner of USM Holdings
Net WOrtH: $19.9 billiON

BILLIONAIRES

After the collapse of the soviet Union,
Usmanov identified a niche for plastic
bags when such items were scarce. investing in machinery to produce them,
he quickly cornered the market. later
he moved into the commodities sector,
buying stakes in metals, mining and
gas companies. he is now co-owner of
metalloinvest, the world’s fifth largest commercial iron ore producer. he
recently bought a $100 million stake in
Apple and is the second-biggest shareholder in Arsenal football club.

1
4

Following the collapse of the Soviet Union in 1991, Russia was ripe for entrepreneurs snapping up formerly state-owned assets in metals, mining and the financial
sector. The ten billionaires on this list, compiled for CNBC by research firm
Wealth-X, started their rise to wealth during the 1990s. Now, many are famiiar
names in the world of international business, owning diverse interests from global
mining companies and banks to basketball and football clubs. At least one of them
has the headquarters of his business in Cyprus. Which one? Read on…

2

mikhAil
FridmAn (49)

3

Co-founder of Alfa Group
Net WOrtH: $16 billiON
Fridman, co-owner of the Alfa
Group Consortium, was one of
four oligarchs who jointly owned a
50% stake in oil exploration firm
Tnk-BP, the failed joint venture
between BP and Alfa Access
renova. BP and Fridman and
his partners sold their stakes in
Tnk-BP to oil giant rosneft in
2013. in June it was reported
that the Alfa Group would
invest more than $20 billion
in global oil and gas projects.

=5

leonid mikhelson (58)

Andrey meln

Chairman of euroCh iChenko (41)
Net WOrtH: $13.6 em
billiON

Chairman of Sibur
Net WOrtH: $15.2 billiON

The chairman of petrochemicals company sibur
and Ceo of russia’s largest gas producer, novatek,
began his career as foreman of a construction company. in 1987, mikhelson inherited the management
of novatek, which built pipelines, roads and industrial facilities at the time. Between 2010 and 2011,
he bought a 57.5% stake in sibur, which operates in
60 countries and employs 30,000 people. Bloomberg estimates the firm is worth over $12 billion.

=5

melnichenko made
his fortune in coal an
d fertilizer,
although in 1993 he
co-founded mdm ba
nk which went
on to become one of
russia’s largest ba
nks.
he later sold his sta
ke in mdm and acqu
ired a holding in
eurochem, the la