Bloomberg Billionaires Index

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# 110 Viktor Vekselberg $14.8B

Random fact: Acquired largest collection of Faberge eggs from the Forbes family.


Vekselberg is chairman of Renova, the investment group that has a stake in United Co. Rusal, Russia's biggest aluminum producer. The Bahamas-based company also owns shares in equipment makers Sulzer and Oerlikon. He owns regional airports in Russia and sold 12.5% of a Russian oil venture for $7 billion in 2013.

As of :
Last change +$95.6M ( +0.7%)
YTD change -$3.71B ( -20.1%)
Biggest asset Cash
Country / Region Russian Federation
Age 65
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Viktor Vekselberg's net worth of $14.8B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

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

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Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Vekselberg holds the bulk of his fortune through Nassau, Bahamas-based holding company, Renova Group, and Russia-based Renova, which control a series of publicly traded and closely held entities, according to Swiss Stock Exchange disclosure documents and the Spark-Interfax database.

He sold 12.5% of Russian oil joint venture TNK-BP for $7 billion to Russia's state-owned oil company, Rosneft, in March 2013. Cash investments reflect dividends as well as asset sales and purchases. They're calculated in US dollars, and reflect taxes and market performance.

Through Sual Partners Vekselberg controls 9.4% of publicly traded United Co. Rusal, Russia's largest aluminum producer, according to his representative. He owns shares in three publicly traded Swiss machinery, industrial equipment and steel manufacturers: 43.9% of Sulzer, 19% of Oerlikon and 7.37% of Swiss Steel. 

He also controls more than a dozen closely held companies whose valuation details are available to Bloomberg clients in the asset note for each business. They include Russian utility company T Plus, which consolidates his investments in four utility businesses, eight regional Russian airports, chemical company Renova Orgsintez, Octo Telematics, a telematics services provider, and a 49% stake in construction company Kortros.


Birthdate: 4/14/1957
Family: Married, 2 children
Education: USSR Academy of Science, Moscow Railway Transport Eng Institute

Viktor Vekselberg was born in the Lviv region of Ukraine in 1957. He graduated with a degree in computer engineering from the Moscow Railway Transport Engineering Institute in 1979, where he met his future partner, Len Blavatnik. He earned a doctorate in mathematics from the USSR Academy of Sciences' Computing Center, and then spent about a decade working as a research associate in a state lab.

He founded Renova in 1990, and through the holding company accumulated interests in Russia's oil and gas, aluminum and financial industries. Renova became one of the leading participants in the Russian government privatization program after the fall of the Soviet Union.

In 1997, Vekselberg, Blavatnik and Mikhail Fridman's Alfa Group acquired a 40 percent stake in TNK, a former state-owned oil company with interests in several West Siberian oil fields. Two years later, they acquired assets in Sidanco, which was owned in part by BP. Sidanco had been declared bankrupt by a commercial court in Siberia. BP's CEO at the time, John Browne, later called the legal system "rigged," and BP paid almost $8 billion to acquire a 50% interest in TNK after the ruling. The other half was consolidated by Vekselberg and his partners under the holding company Alfa-Access-Renova (AAR). The investment formed TNK-BP, Russia's third-largest oil producer, and the partnership paid $38 billion in dividends to both sides between 2004 and 2011.

TNK-BP chief executive officer Bob Dudley -- now CEO of BP -- was forced to leave Russia after a strategy dispute in 2008 and, in 2011, AAR sued BP over a separate Arctic development deal it tried to strike with state-controlled oil company Rosneft. BP executives announced in May 2012 that it would sell its stake and Fridman stepped down from his role as CEO. In October of that year, Rosneft announced it would acquire the entire company, paying the billionaires $27.7 billion for their half of the venture in March 2013.

In 2007, Vekselberg and Blavatnik acquired part of a 16 percent stake in United Co. Rusal, the world's largest aluminum producer outside China, which took over Sual Group, their own aluminum producer. A year later, a dispute erupted over the management of a major Rusal holding, Norilsk Nickel, which is controlled by billionaires Oleg Deripaska and Vladimir Potanin. Vekselberg resigned from his position as chairman of Rusal on March 13, 2012, saying that the company was facing a "deep crisis" over the investment. The dispute was resolved in December 2012, when Potanin was named CEO of Norilsk, and billionaire Roman Abramovich agreed to purchase a 6% stake and take a Norilsk board seat to serve as intermediary between the warring factions.

Dmitry Medvedev, when he was president in 2010, asked Vekselberg to head technology hub Skolkovo outside Moscow, hoping to replicate Silicon Valley's success in Russia.

  • 1957 Viktor Feliksovich Vekselberg born in Drogobych, Ukraine.
  • 1979 Graduates from Moscow Railway Transport Engineering Institute.
  • 1990 Creates Renova investment management company.
  • 1996 Forms holding company Sual for his aluminum interests.
  • 2003 With Russian partners sells 50 percent of TNK oil business to BP.
  • 2006 Begins buying stakes in publicly traded company Oerlikon.
  • 2007 Through mergers, forms aluminum giant United Co. Rusal.
  • 2010 Named head of Skolkovo Foundation.
  • 2013 State-owned Rosneft buys TNK-BP stake for $27.7 billion.