In this success post, we are going to share the story of Viktor Vekselberg, a businessman who has a net worth of $16 billion, which makes him one of the richest people in Russia.
Viktor Vekselberg personal life
Born in Ukrainian SSR, Soviet Union, Viktor Vekselberg graduated from the Moscow Transportation Engineering Institute in the late 70s. For many years, he worked for the state, doing research in a lab.
Viktor Vekselberg career
He shifted his focus to business in the early 90s and quickly made a name for himself. He began building up his fortune with copper and aluminium smelting businesses and then moved to oil production. Because he became a co-owner and chairman of the Tyumen Oil in the mid-90s, and then brokered a deal with the multinational oil company, BP.
From there, he founded SUAL Holdings, which he grew into the world’s most successful aluminium company.
SUAL has since been renamed RUSAL Company. His ore and oil companies have since been gathered under the umbrella of his holding company, Renova Group. He also heads up Skolkovo, a government-funded project to create a center for computer production in Russia.
In 2005, he became involved in some high priced art intrigue, after placing the winning $20 million bid on what he believed to be Odalisque by Russian artist Boris Kustodiev.
Instead, the painting was found to be inauthentic after the artist supposed signature was analysed as aluminium, based pigment not developed until after the artist death. In 2012, a judge ruled he was entitled to get his money back, plus damages from Christie’s.
Viktor Vekselberg net worth
Viktor Vekselberg fortune is held by Renova Group and Renova. In 2013, Viktor Vekselberg sold a 12.5% stake in oil century TNK-BP for $7 billion. He earned nearly $5 billion worth of dividends from that asset before the sale. He also controls 6% of the United Co. Rusal, the largest aluminium producer in Russia. Also owns significant stakes in Oerlikon, Sulzer, and Schmolz + Bickenbach and owns utility company T Plus among many other investments.
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