Bloomberg Billionaires Index

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

#73 Vladimir Lisin $15.0B

Random fact: Gun enthusiast heads the Russian Shooting Union.

Overview

Lisin is chairman and largest shareholder of Novolipetsk Steel, Russia’s largest steelmaker. The publicly traded company produced 16.6 million tons of steel and had $7.6 billion of revenue in 2016. He also owns Freight One, which controls about 16 percent of Russia's rail cars; port facilities operator UCL Port; and shipping company VBTH.

As of July 21, 2017:
Last change -$216M (-1.4%)
YTD change +$1.89B (+14.4%)
Industry Industrial
Biggest asset NLMK RX Equity
Citizenship Russian Federation
Age 61
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Vladimir Lisin's net worth of $15.0B can buy ...

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barrels of crude oil

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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 Lisin's fortune stems from his 84 percent stake in publicly traded Novolipetsk Steel, Russia’s largest steelmaker by tonnage in 2016, according to the World Steel Association's website. The Lipetsk, Russia-based company exports the metal to Europe, Southeast Asia, the Middle East and the U.S. Lisin owns the shares through Fletcher Group Holdings, a Cyprus-based holding company.

Lisin parlayed dividends collected from Novolipetsk Steel into a $5.5 billion investment in United Cargo Logistics Holding (UCL), a transportation and shipping business, according to the Bloomberg Billionaires Index. Through UCL, he owns Freight One, which controls 16 percent of Russia's railcars, according to the company's website; UCL Port, which owns port facilities; and VBTH, which provides shipping, shipbuilding and tourist cruise services. The valuation methodology for these companies can be found in the assets notes for each. Country risk discounts have been added where appropriate to capture the effect of western sanctions against Russia.

He also owns a 9.9 percent stake in closely held Bank Zenit, according to information on its website. The valuation of Bank Zenit is based on the average price-to-book value of two publicly traded Russian banks: Bank Vozrozhdenie and Bank Otkritie Financial Corporation.

The value of his cash investments is calculated using an analysis of dividends, insider transactions, taxes and market performance. The size of the liability included in the calculation was increased on April 13, 2016 to $5.5 billion to reflect the cost of acquiring Freight One during the company's privatization auctions in 2011 and 2012. Official press releases from state-run OAO Russian Railways, which previously owned Freight One, reveal that state monopoly sold it to Lisin in two stages, collecting $3.9 billion in 2011 and $1.6 billion in 2012. The original calculation used a cost of $3.2 billion.

Biography

Birthdate: 5/7/1956
Family: Married, 3 children
Education: 1992, Economics, Russian Presidential Academy of National Economy & Public Administration, Graduated 1990, National Research University Higher School of Economics, Graduated 1979, Siberian Metallurgical Institute, Graduated Russian Presidential Academy of National Economy & Public Administration, PhD

Russia's richest steel tycoon began his career as an electrical fitter in a Siberian coal mine in the mid-1970s. After graduating from the Siberian Metallurgical Institute in 1979, he worked as an engineer in iron and steel plants around Russia. In 1986, he was named deputy chief engineer at the state-run Karaganda mill in North Kazakhstan, the fourth-largest steelmaker in the former Soviet Union, where he began trading metals.

Lisin moved to Moscow in 1991 with his boss, Oleg Soskovets, who had been appointed minister of metallurgy. He met and started working with businessman Sam Kislin, a Soviet emigrant living in the U.S., who was a pioneer in private, large-scale metal exports from Russia.

Lisin later joined a group of metals traders called Trans-World Group (TWG). Headed by two brothers, Mikhail and Lev Cherney, TWG soon came to dominate Russia’s steel and aluminum export business. When the firm collapsed in 1996, Lisin moved to Novolipetsk Steel (NLMK), one of the companies controlled by TWG. He became chairman of NLMK's board of directors in 1998. By 2004, through a series of transactions and using his profits from metals trading, he had acquired about 90 percent of the company from a group of investors and NLMK management.

The company sold shares on the London Stock Exchange in 2005. Lisin tapped the dividends of his NLMK shares to invest in ports, as well as transportation and shipping companies, which he owns today through United Cargo Logistics Holding. He paid more than $5 billion to acquire Freight One, Russia's largest rail car operator in 2011-2012.

Lisin also owns one of the largest shooting-range complexes in Europe. Lisya Nora (Fox Lodge) is 28 miles north of Moscow. He is president of both the Russian Shooting Union and the European Shooting Confederation.

Milestones
  • 1956 Vladimir Lisin is born in Ivanovo City, Russia.
  • 1975 Starts career as electrical fitter in a Siberian coal mine.
  • 1979 Graduates from Siberian Metallurgical Institute.
  • 1996 Buys initial 13 percent stake in Novolipetsk Steel.
  • 1998 Becomes chairman of Novolipetsk Steel.
  • 2004 Accumulates about 90 percent in NLMK.
  • 2004 Buys iron ore producer Stoylenski GOK and two seaports.
  • 2005 Sells 7 percent stake in NLMK during public offering.
  • 2012 Completes buy of Freight One rail cargo transportation firm for $5.5 billion.