Bloomberg Billionaires Index

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

#402 Alexander Abramov $4.61B

Random fact: Takes business partners on fishing trips.

Overview

Abramov is the co-founder of Evraz, the second-largest steelmaker in Russia, and owns 21.2 percent of the business. He also owns 3.3 percent of Norilsk Nickel, the world's biggest nickel producer; 40 percent of London-based Truphone and 22 percent of Siberian timber and transport business Russia Forest Products Group.

As of July 23, 2017:
Last change -$22.8M (-0.5%)
YTD change +$229M (+5.2%)
Industry Industrial
Biggest asset Cash
Citizenship Russian Federation
Age 58
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Alexander Abramov's net worth of $4.61B 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 Abramov's fortune stems from a 21.2 percent stake in publicly traded Evraz, the second-largest steelmaker in Russia, according to the World Steel Association. He owns the stake through Cyprus-based holding company Lanebrook, which he controls with Russian billionaire Roman Abramovich and his partners. Abramov has collected about $1.8 billion in Evraz dividends and from selling shares in the company's 2005 IPO and secondary offering in 2007. He collected another $1.9 billion in 2006, when he and his partner Alexander Frolov sold 41 percent of Evraz to Abramovich.

Abramov and Frolov invested $130 million in London-based Truphone in August 2012, giving the billionaire 40 percent of the mobile Internet company. The partners also control Iroko Pharmaceuticals and Compound Photonics Group.

Abramov owns 22 percent of Russia Forest Products Group, a forestry company operating in eastern Siberia, and has minority stake in publicly traded gold producer Highland Gold Mining and premium-food retailer Azbuka Vkusa. He bought a 5.9 percent stake in Norilsk Nickel with Abramovich in 2013.

Investments in real estate in Turks and Caicos Islands, as well as in the Czech Republic are not included in the assets breakdown because stakes aren't disclosed. 

The value of his cash investments is based on an analysis of dividend income, taxes and market performance.

Maria Starovoyt, a spokeswoman for Evraz, said Abramov declined to comment on his net worth.

Biography

Birthdate: 2/20/1959
Family: Married, 3 children
Education: 1982, Moscow Institute of Physics & Technology, Graduated Moscow Institute of Physics & Technology, PhD

Alexander Abramov was born in Krasnodar, Russia, in 1959 and began his career as a scientist in the early 1980s. He graduated from The Moscow Institute of Physics and Technology in 1982, and ran a laboratory at the Joint Institute for High Temperatures, a research body that studies high energy densities and shock wave physics and applied electrodynamics.

He entered business after the collapse of the Soviet Union in 1991, and founded his first firm in 1992, importing and selling fitness equipment. He later joined former classmates from the Moscow Institute to create EvrazMetall, which exported Russian steel. Abramov and a minority partner Alexander Frolov acquired three steel plants in Russia between 2001 and 2003 -- Nizhny Tagil Iron and Steel Plant, West Siberian Iron and Steel Plant, and Novokuznetsk Iron and Steel Plant -- which formed the foundation of Evraz, with now has operations in iron ore and coal mining and steel manufacturing.

The partners sold shares in Evraz on the London Stock Exchange in 2005, raising more than $400 million, and a year later collected $3 billion more when they sold 41 percent of the company to billionaire Roman Abramovich, who had just sold his stake in Sibneft for almost $10 billion. Abramov used the proceeds to invest in gold, forestry and mobile Internet companies. He teamed with Abramovich again in 2013 when the pair bought a 5.9 percent stake in Norilsk Nickel, the world's second-largest nickel producer.

Abramov lives in Moscow with his wife.

Milestones
  • 1959 Alexander Abramov born in Krasnodar in the south of Russia.
  • 1982 Graduates from The Moscow Institute of Physics and Technology.
  • 1985 Begins work at the Institute for High Temperatures.
  • 1992 Founds EvrazMetall trading company with partners.
  • 2005 Evraz sells shares in a public offering on the London stock exchange.
  • 2006 Sells a 41 percent stake in Evraz to a billionaire Roman Abramovich.
  • 2008 Returns as the chairman of the board of Evraz.
  • 2013 Buys a 5.87 stake in Norilsk Nickel with Roman Abramovich.