Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 443 Alexey Kuzmichev $5.51B

Random fact: Suggested setting up an oil exchange in Russia to the government.

Overview

Kuzmichev is a partner in Alfa Group, an investment company he controls with fellow billionaire Mikhail Fridman. He owns stakes in a Russian food retailer X5, water and sewage company Rosvodokanal as well as in Alfa Strakhovanie insurer. Kuzmichev was sanctioned by the European Union in 2022 over the conflict in Ukraine.

As of :
Last change +$46.4M ( +0.8%)
YTD change -$1.65B ( -23.1%)
Biggest asset Cash
Country / Region Russian Federation
Age 59
Industry Diversified
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Alexey Kuzmichev's net worth of $5.51B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Kuzmichev's fortune is derived from his stake in Alfa Group, which has interests in banking and retail through a web of companies based in Gibraltar, the British Virgin Islands and Luxembourg. He created and controls the holding company with two former college classmates, Mikhail Fridman and German Khan.

The three partners own the businesses controlled by Alfa Group through Gibraltar-based CTF Holdings.

He sold his share of TNK-BP International, Russia's third-largest oil producer at the time, to state-run oil company Rosneft for $2.5 billion in March 2013. He collected about $1.8 billion in dividends from the venture between 2004 and 2012. He's also collected more than $800 million in dividends and share sales through December 2017, according to company filings and an analysis of Bloomberg data. The value of his cash investments is calculated in U.S. dollars and includes the effect of taxes and market performance.

Kuzmichev also holds 11.4% of X5, a Russian food retailer, 24% of Rosvodokanal, a water and sewage company and 16.2% of Alfa Strakhovanie insurer.

He has investment in FreedomPop, a wireless internet mobile service provider.

Kuzmichev was sanctioned by the European Union in 2022 over the escalating conflict in Ukraine.

Biography

Birthdate: 10/15/1962
Family: Married, 3 children
Education: Moscow Institute of Steel & Alloys

Alexey Kuzmichev was born in 1962 in Kirov, a Russian city located west of the Ural Mountains. After serving in the border troops in Siberia's Trans-Baikal region, Kuzmichev enrolled at the Moscow Institute of Steel and Alloys in 1983, where he met German Khan and Mikhail Fridman. In the first year of his studies, he joined the Soviet Union's Communist Party. He graduated in 1988, and has since worked with Fridman and Khan. They first sold electronic goods, carpets and consumer staples -- enterprises that became the basis for Alfa Group, the holding company that today controls many of their investments.

The trio also created a commodities trading company, Crown Trade and Finance, which moved oil between Europe, the U.S., Australia, Cuba and Iraq. Kuzmichev became Crown's CEO in 1996. In 2002, an oil tanker chartered by company successor Crown Resources, was denied entry to a Spanish port, broke during a storm and sank off the coast, spewing 20,000 tons of oil into the Atlantic Ocean. Alfa subsequently sold Crown.

The billionaires landed the TNK deal, Fridman and Kuzmichev's biggest financial success, in 1997. Along with fellow businessmen Viktor Vekselberg and Leonid Blavatnik, the Alfa partners bought a 40 percent interest in the former state-owned oil company with interests in several West Siberian oil fields. Two years later, they also acquired the most productive subsidiary of competitor, Sidanco -- then owned in part by BP -- which had been declared bankrupt by a commercial court in Siberia. BP's CEO at the time, John Browne, later called the legal system "rigged."

BP had paid almost $7 billion by 2004 for half of TNK, while the other half was consolidated by Fridman and his partners under the holding company Alfa-Access-Renova (AAR). The investment formed TNK-BP, Russia's largest foreign oil investment. TNK-BP CEO at the time, Bob Dudley, was forced to leave Russia after a strategy dispute in 2008.

Legal complications arose in 2011. AAR sued BP over a separate Arctic development deal it tried to strike with Russian state-owned company Rosneft, citing a breach in a shareholder agreement. In 2012, BP executives announced that the company would sell its stake and Fridman stepped down from his role as CEO. The billionaires sold their half of the venture to Russia's state-owned oil company, Rosneft, for $27.7 billion in March 2013.

Milestones
  • 1962 Alexey Viktorovich Kuzmichev is born in Kirov, Russia.
  • 1988 Graduates from Moscow Institute of Steel and Alloys.
  • 1989 Founds Alfa-Eco with classmates Fridman and Khan.
  • 1991 Co-creates Alfa Bank, now Russia's biggest non-state bank.
  • 2001 Invests in VimpelCom, Russian mobile operator.
  • 2003 AAR and BP merge Russian assets to form TNK-BP.
  • 2013 State-owned Rosneft buys AAR's TNK-BP stake for $27.7 billion.
  • 2015 L1 Energy acquires RWE Dea.