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#424 Andrey Guryev $4.32B

Random fact: Former Phosagro chairman helped Vladimir Putin defend PhD thesis.

Overview

Guryev is the founder and largest shareholder of Phosagro, Europe's biggest manufacturer of phosphate fertilizers. The Moscow-based company is the world’s largest producer of high-grade phosphate rock, makes ammonia, nitrogen-based fertilizers and feed phosphates for livestock, and had revenue of $3.1 billion in 2015.

As of June 26, 2017:
Last change +$39.4M (+0.9%)
YTD change +$386M (+9.8%)
Industry Industrial
Biggest asset PHOR RX Equity
Citizenship Russian Federation
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Andrey Guryev's net worth of $4.32B can buy ...

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troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Guryev's fortune is derived from his 48.5 percent stake in publicly traded Phosagro, Europe's largest producer of phosphate-based fertilizers, according to its website. Guryev controls the company through two Cyprus-based holding companies: Chlodwig Enterprises and Adorabella. A 4.8 percent stake owned by his wife Evgenia Guryeva is credited to him to reflect his status as chairman.

Guryev and his family collected $565 million selling shares in Phosagro's initial public offering in 2011, $257 million selling shares in a secondary offering in 2013, and more than $800 million in dividends since Phosagro's IPO. He's been selling shares since, including the sale of a 5 percent stake to former Chairman Vladimir Litvinenko in April 2014. The value of his cash and other assets is based on an analysis of share sales, taxes and market performance.

Guryev owns Witanhurst House in London worth about $350 million, according to New Yorker's June 2015 report. It's an “investment project” and Guryev family “never” planned to live there, said Alexei Motlokhov, Guryev’s son-in-law.

Timur Belov, a spokesman for Phosagro, said Guryev declined to comment on his net worth.

Biography

Birthdate: 1960
Family: Married, 2 children
Education: 2006, Economics, St Petersburg Mining University, Graduated 1983, Russian State University of Physical Culture Sports Youth & Tourism, Graduated

Andrey Guryev was born in Lobnya, near Moscow, in 1960. He graduated from the State University of Physical Education in 1983. After his studies he began working as an instructor in the Moscow-based Dimano sports society, part of the former Soviet sports education system that oversaw the development of more than 45 sports disciplines.

He began working at Komsomol, the youth group of the Communist Party, in 1986. He was later appointed secretary of Komsomol's Dimano division and became the first secretary of its Frunzenskiy district division in Moscow. The district also employed Mikhail Khodorkovsky, who would later found Yukos Oil.

Guryev joined Menatep bank in 1990, a division of another Khodorkovsky company, Menatep Group. He moved to a Menatep subsidiary, Rosprom, which was founded to manage the industrial assets the company acquired during Russia's post-Soviet privatization period in the early 1990s. He was later named head of the company's mining and chemical division. He left Rosprom in 2000, and during the next two years began acquiring Menatep's shares in Apatit, the world’s largest producer of high-grade phosphate ore, for an undisclosed amount.

Apatit came under scrutiny in 2003 when Platon Lebedev, a partner of Khodorkovsky's, was arrested on suspicion of illegally acquiring a stake in the company nine years earlier. Khodorkovsky was arrested a year later and Yukos was acquired by state-run oil company Rosneft. Free of any legal troubles, Guryev was appointed in 2001 to the Council of the Federation, an upper chamber in the Russian Parliament loyal to Russia's President Vladimir Putin. He resigned from that position in May 2013. On the base of Apatit, he built Phosagro, Europe's largest producer of phosphate-based fertilizers. In 2008, he was forced to return a 20 percent stake in Apatit to the state after it was determined in court it had been illegally privatized. The government auctioned the shares in 2012, and Phosagro won the asset back with a bid of about $350 million.

Guryev held an initial public offering for Phosagro on the London Stock Exchange in July 2011, collecting $565 million in the transaction. Among the company's shareholders are Vladimir Litvinenko, an exectuive of the Saint Petersburg State Mining Institute who helped Vladimir Putin defend his PhD thesis, who also held a 10 percent stake at the time of the IPO.

Guryev is married and lives in Moscow with his wife.

Milestones
  • 1960 Andrey Guryev is born in Lobnya, near Moscow.
  • 1983 Graduates from the State University of Physical Education.
  • 1986 Works in Moscow for Komsomol, the Communist Party's youth league.
  • 1990 Joins Menatep bank, founded by ex-owners of Yukos oil company.
  • 1995 Becomes head of mining division for Menatep group's Rosprom.
  • 2001 Appointed to the Council of the Federation in the Russian Parliament.
  • 2006 Graduates from The Saint Petersburg State Mining Institute.
  • 2013 Quits post in Russian Parliament's upper chamber after 12 years.