Bloomberg Billionaires Index

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

#94 Andrey Melnichenko $13.1B

Random fact: Married to Serbian model Sandra Nikolic.


Melnichenko is the largest shareholder of Suek, Russia's largest supplier of thermal coal. He also owns most of EuroChem, a fertilizer producer in the Europe, Middle East and Africa region. His other investments includes stakes in closely held energy company Siberian Generating, as well as utility firms Far East Energy and IDGC of Siberia.

As of Oct. 17, 2017:
Last change +$71.6M (+0.6%)
YTD change +$1.75B (+15.5%)
Industry Industrial
Biggest asset EuroChem
Citizenship Russian Federation
Age 45
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Andrey Melnichenko's net worth of $13.1B 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

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Melnichenko's fortune is derived from his stakes in two closely held Russian companies, EuroChem and SUEK. SUEK is headquartered in Moscow, Russia. EuroChem is based in Zug, Switzerland.

Melnichenko controls 90 percent of EuroChem. It's valued using the average enterprise value-to-Ebitda and enterprise value-to-sales multiples of four publicly traded peer companies: Phosagro, Yara International, Mosaic and Acron. 

He also holds a 92.2 percent stake in SUEK, Russia's largest thermal coal supplier, according to its website. Its valuation is based on the average enterprise value-to-sales multiple of five publicly traded peers: Adaro Energy, Exxaro Resources, Coal India, Banpu and Yanzhou Coal Mining.

The billionaire controls 92.2 percent of privately held energy holding Siberian Generating company. He owns it through the Cyprus-based holding company Siberian Energy Investments.

He also owns shares of publicly held industrial companies, including 30.9 percent of Far East Energy Co. and 36.8 percent of IDGC of Siberia. He owns these stakes through the Cyprus-based holding companies Siberian Energy Investments, Donalink and EuroChem Group SE.

The value of his cash investments is calculated using an analysis of dividends, insider transactions, taxes and market performance.


Birthdate: 3/8/1972
Family: Married, 1 child
Education: 1997, Graduated, Finance, GV Plekhanov Rissian Economic Academy Physics, Moscow State University

Andrey Melnichenko was born in Gomel, Belarus, in 1972. His first business was a currency exchange office he established in Moscow in the early 1990s. After the fall of the Soviet Union in 1993 he created closely held MDM Bank with two former classmates.

MDM had become one of Russia's largest non-state banks by 2000, when Melnichenko partnered with metals and oil trader Sergei Popov. The two started buying industrial plants and coal mines around Russia. Their acquisition spree resulted in three closely held companies: EuroChem, now Russia's largest fertilizer producer; SUEK, Russia's largest thermal coal producer; and TMK, a steel pipe manufacturer.

Popov and Melnichenko sold their TMK stakes to another partner, Dmitry Pumpyansky, in 2006. The following year, Melnichenko and Popov swapped assets: Popov took control of MDM Bank and Melnichenko became the sole owner of EuroChem. Melnichenko later bought Popov's stake in SUEK.

Melnichenko is married to Aleksandra Nicolic, a Serbian model.

  • 1972 Andrey Igorevich Melnichenko is born in Gomel, Belarus.
  • 1991 Quits Moscow State University; starts money-lending business.
  • 1993 Co-founds MDM, eventually one of Russia's largest private banks.
  • 2001 Creates EuroChem, SUEK and TMK.
  • 2005 Marries Aleksandra Nikolic, a pop singer and model from Serbia.
  • 2006 Sells last of TMK stake to Dmitry Pumpyansky for $1.3 billion.
  • 2007 Swaps MDM Bank shares for Sergei Popov's EuroChem stake.