| Net Worth: | $2 Billion |
|---|---|
| Date of Birth: | January 2, 1968 (56 years old) |
| Gender: | Male |
| Profession: | Businessperson, Investor, Entrepreneur |
| Nationality: | Russia |
What is Oleg Deripaska’s Net Worth?
Oleg Deripaska is a Russian businessman who has a net worth of $2 billion. He is a billionaire industrialist from Russia who created the industrial group Basic Element in 1997.
In addition, he developed and served as the CEO of the aluminum firm United Company RUSAL and the energy firm En+ Group.
Deripaska, who was involved in various economic and political scandals, was one of many Russian billionaires that Western nations sanctioned in the years leading up to Russia’s invasion of Ukraine in 2022.
Childhood
Oleg Deripaska was born on January 2, 1968, in Dzerzhinsk, Soviet Russia. He was primarily reared by his grandparents when his mother, a widow, left to look for employment. At the Ust-Labinsk facility where his mother obtained employment, Deripaska started working there as a young child.
He started working as a trainee electrician when he was 11 years old. Deripaska was able to enroll in Moscow State University at the age of 17 thanks to his strong arithmetic abilities. In contrast, he was enlisted in the military after a year of college.
After some time away from school, Deripaska went back to Moscow State to finish, earning a physics degree in 1993. At the Plekhanov University of Economics, he later completed his master’s degree in 1996.
Early Career
Deripaska founded the metal trading business VTK in the early 1990s in collaboration with other scientists. He was able to make a considerable profit by purchasing metal at cheap Russian prices and reselling it abroad for considerably higher prices.
For his initial purchase of shares in the Sayanogorsk aluminum plant in South Central Siberia, Deripaska used nearly all of his arbitrage and trading income. He was appointed plant director general in 1994.
Deripaska established the Sibirsky Aluminum Group a short while thereafter. In 2000, this group joined Millhouse Capital to form RUSAL.
Career
When Deripaska took over as CEO of RUSAL, he made the company the biggest producer of aluminum in the world. The first of its kind to be created in post-Soviet Russia, he managed the development of the Khakas aluminum smelter in Siberia.
Over time, Deripaska continued to acquire shares in businesses operating in a variety of sectors, including energy, manufacturing, transportation, banking, aviation, and agriculture. His noteworthy holdings include the power business EuroSibEnergo, the insurance company Ingosstrakh, and the automotive group GAZ Group.
These and other properties are a part of the broad investment portfolio of Deripaska’s industrial conglomerate Basic Element, which he established in 1997. Deripaska established the diversified mining, metals, and energy business En+ Group in 2006 as one of his many other businesses.
It controls and oversees power plants through its majority ownership of RUSAL and EuroSibEnergo. Kuban Agroholding, a 75,000-hectare agricultural enterprise, was founded by Deripaska in 2011.
Deripaska also holds other leadership positions in the corporate sector, including vice president of the Russian Union of Industrialists and Entrepreneurs and head of the Asia-Pacific Economic Cooperation Business Advisory Council.
Additionally, he has been a participant in 2007 the World Economic Forum. The right to acquire Norilsk Nickel from the defunct Soviet Union was obtained by Mikhail Prokhorov and Vladimir Potanin in 1995. Norilsk Nickel’s growth was ferocious throughout the following ten years.
The business upgraded its hardware, sold off all non-core assets, and actively sought for new areas with natural resource potential under Prokhorov’s leadership. In 1995, Norilsk Nickel’s annual income was $400 million. By 2007, it had increased to almost $10 billion.
Mikhail was detained by authorities in the French Alps in January 2007 after they got a tip that he had flown a private plane packed with prostitutes to the town for a wild week-long party with his companions.
Mikhail had to sell his Norilsk stock as a result of the ensuing incident. In the end, he agreed to sell his interest to Oleg Deripaska for $7 billion in cash and $3 billion in stock in one of Oleg’s aluminum firms.
This ended up being incredibly fortunate timing since by late 2008, only a few months after the purchase was eventually finalized, the global economy started to crumble.
Charity Works
In terms of philanthropy, Deripaska founded the Volnoe Delo charitable foundation, which provides funding for programs in Russia that support public health, research, history, and education. Along with the National Medicine Fund, he also co-founded the National Science Support Foundation.
Deripaska serves on a number of boards of trustees, including those at several colleges affiliated with Moscow State University and the Bolshoi Theatre, where he has funded countless ballets and operas, in the meantime.
Controversy
Oleg Deripaska has been embroiled in several scandals involving his business dealings and political connections. Due to his connections to leaders of organized crime Sergei Popov and Anton Malevsky, he is being looked into for money laundering.
He has also drawn criticism for his associations with British financier Nathaniel Rothschild, politician Peter Mandelson, and American crook Paul Manafort.
Notably, Deripaska was charged with serving as a go-between for the Russian government and Manafort during Russia’s meddling in the 2016 US elections. Extortion, racketeering, and eavesdropping on government officials are just a few of the numerous offenses for which Deripaska has been charged.
As a result, he received sanctions from the United States in 2018. He was accused of breaking the sanction four years later, and the UK and EU also imposed sanctions on him at the time of Russia’s invasion of Ukraine.
Relationship
Deripaska wed Polina Yumasheva 2001, the child of Valentin, the top advisor to Russian President Boris Yeltsin. Before separating in 2018, the couple gave birth to a son named Pyotr and a daughter named Maria. Deripaska also owns numerous horses and dogs. He obtained Cypriot citizenship in 2017.
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