| Net Worth: | $21 Billion |
|---|---|
| Date of Birth: | March 8, 1972 (52 years old) |
| Gender: | Male |
| Height: | 1.75 m |
| Profession: | Industrialist Billionaire and Philanthropist |
| Nationality: | Russia |
What is Andrey Melnichenko’s Net Worth?
Andrey Melnichenko is a Russian philanthropist, and Industrialist who has a net worth of $21 billion. Coal and fertilizers are two of Andrey’s main commercial interests. Of EuroChem Group AG and SUEK JSC, he is the primary beneficiary.
Early Career
A modest beginning, Andrey Melnichenko was born on March 8, 1972, in Gomel, Belarus. He was a physics student in Moscow during a period of economic unrest following the dissolution of the former Soviet Union.
Andrey and two like-minded classmates discovered market niches while still pursuing their degrees, which would later serve as the cornerstone of their own business empire.
First, they established a currency exchange, and then a bank, which won numerous awards from a variety of reputable international publications, including The Banker and Euromoney. MDM Bank, which they founded, went on to become one of the biggest and most prosperous private banks in Russia.
Second Act
The political connections that would have allowed Andrey to profit from the post-Soviet privatization were not there in him since he was too young.
Instead, he used the money he made from banking in the 1990s to buy fragmented assets in risky and abandoned industries like coal and fertilizer, which at the time were not regarded as “strategic” in Russia and therefore were not subject to the same political influence as other industries like oil and gas, diamond and gold mining.
Andrey founded two new companies, EuroChem and SUEK, by combining and modernizing scattered, under-invested assets from old Soviet-era mines and plants.
Eventually, the businesses developed into well-known worldwide blue chips with cutting-edge coal mines and fertilizer plants, placing them all among the top five in the world for their respective industries.
With its own capacity for all three of the major nutrients—nitrogen, phosphates, and potash—EuroChem rose to become one of the top three high-tech fertilizer producers in the world.
It has facilities for manufacturing, logistics, and distribution in Germany, the United States, Belgium, Lithuania, Brazil, China, Kazakhstan, and Estonia. One of the top 5 coal exporters in the world is a coal energy corporation called SUEK.
With its own logistics network, it is the leading producer of energy and heat in Russia and the country’s largest producer of coal.
Over the last 15 years, his companies have invested nearly $21 billion into the coal and fertilizer industries, creating jobs for over 100,000 people.
Philanthropy
Over $500 million has been spent by his companies on social and charity initiatives. The Andrey Melnichenko Foundation supports gifted youngsters in science and education in addition to the initiatives of businesses, promoting social mobility in Russia.
It supports a variety of initiatives, including funding for educational excursions and programs as well as new research and educational facilities.
In the regions of Russia where Melnichenko’s businesses operate, the centers offer top-notch STEM education to brilliant kids in grades 5–11 while also exposing them to international contests like the International Science and Engineering Fair (ISEF) and expanding their horizons.
Toys
Andrey enjoys taking marine voyages. Melnichenko is the owner of two superyachts, including the $300 million Motor Yacht A, which resembles a submarine, and the more recent $500 million “Sailing Yacht A.”
They represent a large investment in the technology and sailing design that currently fuel innovation in the shipbuilding sector.
Personal Life
Aleksandra, formerly known as Serbian singer Sandra Nikolic, and Andrey are married. They have a son and a daughter.
Real Estate Assets
A $12.2 million penthouse in Central Park West, New York, is owned by Andrey and his wife. The apartment has a roof patio and is spread across two stories.
The Andrey also own Villa Altair in Antibes, which served as the venue for their nuptials.
The home has an addition created by Philippe Starck and Filippo Cantoia. They also own Harewood Estate in Ascot, Surrey, in the UK.
After the 2009 global financial crisis, Melnichenko saw a loss of 80% of his personal wealth. His net worth dropped from $10 billion prior to the crisis to a low of $1 billion at one time. His fortunes have more than recovered as of late.
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