Bidzina Ivanishvili Net Worth, Biography and Career

Bidzina Ivanishvili Net Worth $5 Billion

According to Bloomberg, Georgian businessman Bidzina Ivanishvili is the wealthiest person in Georgia. His wealth of more than 5 billion dollars is equal to 50 percent of Georgia’s GDP, and he has used it to provide for the underprivileged people in the country, particularly those living in his hometown of Chorvila where he’s creating a modern feudal municipality.

Also, a politician, Mr. Ivanishvili, 2011, came out against Georgian President Mikhail Saakashvili. He created a political party called Georgian Dream and still leads it as its chairman. Full details are available in the article below.

Early Life: Childhood, Education

He was born on 18 February 1956 in Chorvila, Georgian SSR, Soviet Union, as the youngest of five children in a struggling family in the village of Chorvila. His father, a manganese factory worker, was able to provide for the family through his occupation.

Bidzina completed his high school education in Sachkhere. He then attended Tbilisi State University where he graduated from the Faculty of Engineering and Economics in 1980. Two years later, he went to Moscow in Russia to pursue a doctorate degree in economics at the Moscow State University of Railway Engineering.

Professional Life: Business Career

While living in Moscow in the 1980s, Bidzina Ivanishvili met a Russian businessman Vitaly Malkin and befriended him. The two of them formed a partnership selling computers. They later started importing push-button phones, which were by that time, a novelty.

Bidzina’s major source of wealth is metals and banking. With the money he made from his small importation business, he went on with acquiring dying firms that weren’t looked at by any other businessmen. He spent around thousands to millions of dollars on such companies and finally sold them for billions after rebuilding and repackaging them.

In 1990 he and his business partner Vitaly Malkin set up the company called Rossiysky Kredit which is now Ivanishvili’s biggest holding. Over the years, the businesses that he accumulated during the privatization era in Russia were sold by him for billions of dollars. He turned around and invested the proceeds in the Russian stock market.

Mr. Ivanishvili also has business interests in hotels, including Hotel Lux. He is also invested in the popular Russian chain of drugstores known as Doctor Stoletov.

Asides from his accomplishments in the world of business, this billionaire is also quite active in the political scene of his country. He founded his own political party known as the Georgian Dream-Democratic Georgia party back in 2012 and became the leader of the coalition of the opposition parties that he created.

This eventually became instrumental in his victory in the 2012 parliamentary elections. On 25 October 2012, he was voted in as the prime minister of Georgia. A year later, he voluntarily left the prime minister seat on the basis of a statement he made earlier and returned to the civil sector where he continued his businesses.

In 2018, he returned to politics and was voted as the chairman of the Georgian Dream-Democratic Georgia party which he had earlier founded.

Personal Life: Wife, Children, Private Interests

Mr. Bidzina Ivanishvili is a happily married man and father figure.

A citizen of Georgia, he additionally attained French citizenship in May 2010. In October of the following year, he was deprived of his Georgian citizenship shortly after he had announced his plan to set up a political party to oppose Georgian President Mikheil Saakashvili.

Bidzina Ivanishvili Net Worth: Salary, Assets, Income Sources

Mr. Bidzina Ivanishvili’s net worth is pegged at 5 billion dollars. He has been able to assemble such an amount of money by engaging in numerous things that brought him profit in the course of his professional life.

A Georgian billionaire tycoon who is currently the wealthiest person in the country of Georgia, Bidzina Ivanishvili, who graduated from Tbilisi State University and the Moscow State University of Railway Engineering, has made his wealth from being a politician and businessman.

He co-founded Rossiysky Kredit as a holding firm and bought up many small coal and metal mining companies through it, before later selling such companies for large profits. He is involved in multiple real estate developments to date and also owns portions of a range of hotels and drug businesses.

Likewise, the political party, Georgian Dream – Democratic Georgia, which is currently under investigation on charges of alleged vote-buying, was founded by him and was instrumental in his political victories many years ago. Mr. Bidzina’s wealth is equal to half the GDP of Georgia. He uses his resources to provide for the underprivileged people in his hometown of Chorvila, giving them better lives.