In this success post, we are going to share the story of Alexey Mordashov, a Russian Billionaire businessman. He is the main shareholder and chairman of Severstal, a Russian conglomerate with interests in energy, mining, and metal companies.
In the month of April 2019, CEOWORLD Magazine reports that Alexey Mordashov was the Russia 5th Richest person, with an estimated worth of $20.5 billion.
Alexey Mordashov early life
Alexey Mordashov is the son of parents who were both steel mill workers. He reported that his family used welfare coupons, allowed only 200g of butter, and 400g of sausages per month. He graduated with a bachelor’s degree from the Leningrad Engineering Economical Institute, currently known as the ENGECON. Because he later gained an MBA degree from Northumbria University in Newcastle upon Tyne, England, in the year 2001.
In an address to students at the European University at Saint Petersburg, Alexey Mordashov spoke about his decision to study in Leningrad rather than Moscow and the value his undergraduate studies played in his search for employment and eventual career path. Returning to Cherepovets, he started his career by joining the same steel plant where his parents had worked.
Alexey Mordashov career
In the year 1988, he joined Cherepovestskiy Metallurgical Plant after graduation from Leningrad Engineering Economical Institute as an economist. By the end of 1992, he became the finance director, shortly before the company was privatized. When the plant 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 up a major stake in the factory. In the year 1996, he was appointed as the CEO of the company. He went on to build a conglomerate, Severstal, acquiring steel, mining, and coal companies.
Alexey Mordashov was elected as chairman of the World Steel Association in the month of October 2012. In the year 2011, he was the only Russian Participant in a meeting of the Bilderberg Club at St Moritz, Switzerland.
In the month of June 2013, he was the fifth-largest shareholder of Rossiya Bank, owing 6%.
Alexey Mordashov personal life
He and his wife Elena have a son, Ilya, and divorced in the year 1996. In 2001, it was revealed in a St Petersburg divorce court that he was paying only $620 a month to support his ex-wife and son when she sued him of his pre-divorce property but lost the case and incurred large fees. The case was eventually settled after she took it to the European Courts of Human Rights.
By the end of 2001, he had married his second wife, also Elena, and had two more sons.
Alexey Mordashov Net Worth
According to the latest report, he has a net worth of $16.2 billion. In the list of World Billionaires, he is ranked on the 54th. He is also the 11th richest man in Russia.
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