Bloomberg Billionaires Index

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#531 Sergei Popov $3.90B

Random fact: Has a degree in thermal power engineering.

Overview

Popov made his fortune in post-Soviet Russia building a collection of industrial assets during the early 2000s with his former partner, billionaire Andrey Melnichenko. The two unraveled their joint holdings between 2006 and 2012, and in the transactions he received more than $3 billion as well as MDM Bank, which he sold in 2015.

As of Dec. 16, 2017:
Last change No change
YTD change +$325M (+9.1%)
Industry Diversified
Biggest asset Cash
Citizenship Russian Federation
Age 46
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sergei Popov's net worth of $3.90B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
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
0%
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:

All Popov's fortune is held in cash and investable assets, more than half of which was collected after he unraveled his partnership with fellow billionaire Andrey Melnichenko in 2006-2012. Popov sold his stake in SUEK, Russia's largest thermal coal producer, for about $2.5 billion and took control of MDM Bank, a Novosibirsk, Russia-based bank of which he owned 58.3 percent. He held the stake through Cyprus-based MDM Holding SE and sold it in 2015.

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

Victoria Abramenko, a spokeswoman for Popov, said the billionaire declined to comment on his net worth.

Biography

Birthdate: 8/12/1971
Family: Single, 1 child
Education: 1993, Ural Federal University, Graduated

Sergei Popov was born in 1971 in Yekaterinburg, Russia. He graduated from Urals State Technical University in 1993. Popov started his first business with partners in the midst of Russia's privatization era, founding the Urals-Siberia Trading and Industrial Co., which specialized in energy and pipe trading, as well as supplying raw materials to Russian metallurgical plants.

Popov created the MDM industrial group in 2000 with Andrey Melnichenko, co-founder of MDM Bank. The partners 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 stakes in TMK to Dmitry Pumpyansky in 2006, and then began swapping assets between themselves, with Popov taking control of MDM Bank and Melnichenko becoming sole owner of EuroChem. Melnichenko later bought Popov's stake in SUEK. Popov merged MDM with Novosibirsk-based URSA bank in 2008, creating the banking group which he sold in 2015.

He's single and lives in Moscow.

Milestones
  • 1971 Sergei Popov is born in Yekaterinburg, Russia.
  • 1993 Graduates from Urals State Technical University.
  • 1993 Forms Urals-Siberia Trading and Industrial Company with partners.
  • 2000 Establishes MDM industrial group with partner Andrey Melnichenko.
  • 2006 Sells TMK stake to Pumpyansky for $1.3 billion.
  • 2011 Melnichenko purchases half of his SUEK stake.
  • 2015 Unravels his stake in MDM Bank.