Alexei Mordashov
Alexei Mordashov | |
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File:Алексей Мордашов.jpg
Alexei Mordashov (2011)
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Born | Cherepovets, Russia |
26 September 1965
Nationality | Russian |
Alma mater | Leningrad Institute of Ec University of Northumbria |
Occupation | Majority Shareholder of Severstal |
Net worth | US$13.2 billion (June 2015)[1] |
Spouse(s) | Divorced |
Children | 3 |
Alexey Mordashov (born 26 September 1965) in Cherepovets, Vologda Oblast. He is a Russian business oligarch and billionaire. He is the main shareholder and the CEO of Severstal, a large Russian conglomerate with interests in metal, energy and mining companies. As of July 2013 he has an estimated worth of $18.5 billion.[2]
Early life
Mordashov is the son of parents who were both mill workers.[1] He graduated from the Leningrad Engineering-Economical Institute, currently known as ENGECON. He later gained an MBA from Northumbria University in Newcastle upon Tyne, Great Britain in 2001.
Career
In 1988 he joined Cherepovetskiy Metallurgical Plant after graduation from Leningrad Engineering-Economical Institut as an economist. By 1992 he became finance director, shortly before the company was privatised. When the plant's elderly director instructed him to acquire shares to keep them out of the hands of an outsider, he formed two investment funds and, by buying up workers' shares, built a major stake in the factory.[1] He became general director of the company in 1996. He went on to build a conglomerate, Severstal, acquiring steel, coal and mining companies.[3]
In June 2002, he was appointed as Chairman of the Board of Directors at Severstal. He is also CEO of the Severstal Group.[4]
In 2004, Mordashov started investing in US steel companies, purchasing companies in Dearborn, MI and Columbus, MS. The acquisition included the Rouge Plant in Dearborn.[5][6] He received a loan from the U.S. Department of Energy to renovate and refurbish the manufacturing plants in Dearborn.[7] The value of the loan, over $370 million, was revoked in 2012, after growing political tensions between the US and Russia.
Between 2004 and 2014, Mordashov and Severstal invested up to $3 billion in both the Dearborn and Columbus plants.[8] In 2011 he sold a number of US assets in Ohio, Maryland and West Virginia to the Renco Group, owned by industrialist Ira Rennert.[9] By 2014 all of Severstal’s US investments had been sold for $2.3 billion.[10][11]
His company Severstal planned a multi-billion dollar project in joint venture with POSCO in Eastern India. After 10 years of not getting environmental and land clearances, his company opted out in 2008.[12][13]
In 2011, Mordashov purchased 25% of the shares in steam turbine manufacturer, Power Machines, from Siemans.[14] In 2013, with partner Yuri Kovalchuk, Mordashov bought 50% of Tele2 Russia, the country’s 4th largest mobile phone operator.[15]
Mordashov was elected as Chairman of the World Steel Association on 10 October 2012. In 2011, he was the only Russian participant in the meeting of Bilderberg Club at St.Moritz, Switzerland.[16]
Philanthropy
Through Severstal:
- Sponsor of the Bolshoi Theatre
- sponsor of the Mariinsky Theatre
- sponsor of the Tretyakov Gallery
- sponsor of the Russian Museum
- sponsor of the Museum of Frescoes by Dionisius
- sponsor of the Sergei Andriaka Watercolour School
- sponsor of the Moscow International Film Festival
- sponsor of the Road Back Home charity for homeless children
- sponsor of the "Severstal Cherepovets" super-league ice-hockey team
- sponsor of the Dynamo (Moscow) Women’s Volleyball Club
- sponsor of the Russian national male chess team
- sponsor of over 20 Russian sports facilities including sports stadiums, ice rings, heated football fields and athletic centres.
See also
References
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External links
- ↑ 1.0 1.1 1.2 Alexey Mordashov Forbes Profile
- ↑ Russian Capitalist Wiki contributors (01-15-2014). "Alexey Mordashov". Russian Capitalist Wiki. (Retrieved 13 Feb 2014).
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