Bloomberg Billionaires Index

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#197 Oleg Deripaska $7.58B

Random fact: Served in the Soviet Army's Strategic Missile Forces.

Overview

Deripaska controls Basic Element, a closely held investment company. The Moscow-based business operates in 19 countries and manages his 48 percent stake in United Co. Rusal a publicly traded aluminum producer. Through Russian Machines he also owns 80 percent of GAZ group, Russia's largest maker of commercial motor vehicles.

As of July 24, 2017:
Last change -$100M (-1.3%)
YTD change +$1.47B (+24.1%)
Industry Commodities
Biggest asset 486 HK Equity
Citizenship Russian Federation
Age 49
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Oleg Deripaska's net worth of $7.58B can buy ...

0
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:

Deripaska's most-valuable asset is his 48 percent stake in United Co. Rusal, a publicly traded aluminum producer. He owns the interest through En+ Group, a holding company he controls, in part, through Moscow-based investment vehicle Basic Element. His other publicly traded assets include construction company Strabag.

Deripaska has investments in closely held industrial assets, many of which report financial data. Through En+ Group, he owns 96 percent of En+ Downstream (metals mining), En+ Coal (coal mining), SMR (molybdenum and copper mining), En+ Logistics (transportation services) and Eurosibenergo (energy utility). Through Russian Machines he also owns 80 percent of GAZ group, Russia's largest manufacturer of commercial motor vehicles.

He also controls 60 percent of Moscow-based Bank Soyuz. It's valued using the average price-to-earnings and price-to-book value multiples of two publicly traded peer companies: Bank Otkritie Financial Corporation and Vozrozhdenie Bank. Deripaska owns at least 10 percent of insurance company Ingosstrakh, and is the controlling shareholder of Basel Aero, which controls Russia's Krasnodar International, Sochi International, Anapa and Gelendzhik airports.

The billionaire is one of the biggest private investors who helped finance development projects for the 2014 Sochi Olympics, including through RogSibAl, which built a 3,000-room Olympic village, and Port Sochi Imeretinsky. RogSibAl is valued based on his investment in the project, which is majority financed by state-controlled VEB bank.

Biography

Birthdate: 1/2/1968
Family: Married, 2 children
Education: 1996, Master's Degree, Economics, GV Plekhanov Rissian Economic Academy 1993, Graduated, Physics, Moscow State University

Oleg Deripaska was born in 1968 in Dzerzhinsk, a small town in Russia's Volga region. He served two years in the Russian army, and studied physics at Moscow State University, graduating with honors in 1993. Three years later, he earned a degree from the Plekhanov Russian Academy of Economics.

In the early 1990s, he opened an aluminum trading business, and soon began acquiring stakes in Russian smelting companies, in part by buying shares from factory employees. He was buying at the start of Russia's so-called aluminum wars, the details of which are included in a lawsuit filed by exiled Russian businessman Michael Cherney in London's High Court.

In the case, Deripaska cites a number of events that led him to hire a private security guard and pay protection money, or "krysha," to Cherney, including threats, public beatings, attacks on executives and an April 1995 shareholder meeting described as "a very threatening situation." Four days before that meeting, a senior executive, his bodyguard and driver were assassinated in a daylight attack in Moscow. Cherney claims he was a partner in the business and is owed a share of Deripaska's fortune. Deripaska claims Cherney is a member of organized crime. The case was settled in September 2012 for an undisclosed amount.

Deripaska combined his aluminum assets to create Siberian Aluminum (Sibal) in 1997, eventually merging them with the aluminum businesses of billionaire Roman Abramovich to create Russian Aluminum (Rusal). He created Basic Element in 2001, a holding company that now has investments in Russia's insurance, steel, auto, energy, coal and finance industries. That year he also married the daughter of Valentin Yumashev, once the head of former Russian President Boris Yeltsin's administration. He later became an indirect member of the Yeltsin family when Yumashev married Yeltsin's daughter, Tatyana.

Abramovich began unraveling the investments he had with Deripaska in 2003, including Rusal and car maker RusPromAvto. In 2006 and 2007, he formed United Co. Rusal by merging his aluminum assets with those owned by two other Russian billionaires, Viktor Vekselberg and Len Blavatnik, and a pair of companies owned by Glencore. Today, United Co. Rusal is Russia's largest aluminum producer.

During the global financial crisis of 2008, Deripaska's companies faced a margin call on about $20 billion of debt lent to them by cash-strapped banks. He was forced to sell his stakes in a number of assets, including less than 20 percent of Canadian auto-parts maker Magna, 10 percent of German construction company Hochtief and 25 percent of Austrian construction company Strabag. He began rebuilding in 2010, buying back a stake Strabag and striking alliances between Gaz and international automakers.

He stepped down as CEO of Basic Element in July 2012, appointing longtime executive Gulzhan Moldazhanova as CEO. He remains the chairman of the supervisory board.

Milestones
  • 1968 Oleg Vladimirovich Deripaska born in Dzerzhinsk, Russia.
  • 1988 Completes national service in the Russian Army.
  • 1993 Earns physics degree from Moscow State University with honors.
  • 1996 Graduates from Plekhanov Russian Academy of Economics.
  • 2000 Creates Rusal in merger with Roman Abramovich's aluminum assets.
  • 2001 Marries Polina Yumasheva, daughter of Yeltsin's son-in-law.
  • 2007 Forms world's largest aluminum company, United Co. Rusal.
  • 2009 Rusal forced into $17 billion debt restructuring, Russia's largest.
  • 2010 Hong Kong initial public offering for Rusal raises $2.2 billion.
  • 2014 Becomes Rusal president, steps down as CEO.