Alexey Mordashov Net Worth, Biography and Career

Alexey Mordashov Net Worth $20 Billion

Alexey Mordashov is a self-made billionaire from Russia. He is one of the most talked-about personalities in business currently and that’s partly because his multibillion-dollar net worth is largely noticeable by anyone who cares.

At the time of this writing, Mr. Alexey is ranked as the 11^th richest person in his country and as the 73^rd in the world. His journey to success started back in 1988 when he received an offer from Cherepovetskiy Metallurgical Plant to work as an economist.

He then served as the company’s finance director shortly before the company was privatized. From there, he founded an investment fund and acquired all the shares of the firm before launching Severstal as a mining conglomerate that acquires mining, steel, and coal.

He also invested in companies like Power Machine, and Siemens. More details about the life and accomplishments of the businessman follow below.

Early Life: Childhood, Education

He was born Alexey Alexandrovich Mordashov on the 26th of September 1965, in Cherepovets, Russia. His parents were both steel mill workers and he grew up watching them and learning their ways.

After completing his affairs in high school, Alexey attended the Leningrad Engineering-Economical Institute (currently ENGECON) for his bachelor’s degree. He then moved to England and gained an MBA degree from Northumbria University in Newcastle upon Tyne.

Professional Life: Business Career

In 1988, Alexey Mordashov started working at a steel plant in his hometown. When his company got privatized, he bought up its shares and later became the General Director in 1996.

Even though he later acquired major industrial facilities throughout Europe, America, and Africa, the headquarters of his Severstal company remains in Cherepovets in Russia.

The company is named among the twenty-five largest steel producers in the world. Alexey has built it into a conglomerate with holdings in Cherepovets Airport, Vnukovo Moscow Airport, and Severstal Air, among others.

Through his investment arm, the Severstal Group, Mr. Mordashov has acquired half of Tele2 Russia, the fourth-largest telephone company in Russia. He is also the Chairman of the boards of Power Machines and Nordgold N.V. In 2012, he became the chairman of the World Steel Association.

Personal Life: Wife, Children, Private Interests

Mr. Mordashov and his first wife Elena divorced in 1996. They have a son named Ilya. In 2001, he married another woman also named Elena. They have two sons together, named Nikita and Kirill.

This businessman, who loves the luxurious life, is the owner of a private jet and the yacht Lady M. For his sons Kirill and Nikita, he created the KN-holding company in 2018.

He then transferred his shares to the company from his other companies Nordgold and TUI. In this way, he hoped to transfer business experience to his children who will probably take over from him one day. But in 2021, Nikita lost his portion due to academic failures and leaving for military service.

In 2022, the ICIJ reported that the businessman transferred most of his ownership interest in the tourism conglomerate TUI to a Caribbean shell company managed by Marina Mordashova who is rumored to be the mother of some of his children. His hobbies include touring the world and watching sports events.

Alexey Mordashov Net Worth: Salary, Assets, Income Sources

This Russian businessman is one of the most dedicated men in business that you will ever come across. It’s not surprising that his hard work and focus on his business career over several decades have helped him amass a net worth of more than 20 billion dollars.

He was never an heir in the first place and certainly did not inherit his wealth. Instead, he worked his way up from the grassroots to accomplish all that he has to his name today. Born in Cherepovets, Russia, Mr. Alexey Mordashov is currently one of the wealthiest individuals in Russia.

After short spells working at different establishments, he formed his own investment fund and started buying shares at various businesses, gradually building up his portfolio.

In addition to being very active in a number of philanthropic ventures, including funding both the Mariinsky and Bolshoi Theatres, Mr. Mordashov owns a 79.2 percent interest in the successful Russian steelmaker Severstal.

He owns shares in the German shipping and tourism company TUI and also owns the industrial machine company Siloviye Mashiny.

Likewise, he derives benefits from his ownership of the gold producer Nordgold and also holds significant interests in plywood manufacturer Sveza and the online supermarket Uktonos.

Not to forget, this Russian oligarch owns 2.8 percent of Tele2 Russia Holding, 5.5 percent of Bank Rossiya, 7.3 percent of CTC Media, and 26 percent of National Media Group, all of those enterprises gradually adding significant value to his fortune.