Bloomberg Billionaires Index

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#46 Vladimir Lisin $19.7B

Random fact: Served as a vice president of the Russian Olympic Committee.

Overview

Lisin is the chairman of Novolipetsk Steel, Russia’s largest steelmaker. The publicly traded company produced more than 17 million metric tons of steel and had $10.1 billion of revenue in 2017. He also owns Freight One, the largest freight rail operator in Russia; port facilities operator UCL Port; and shipping company VBTH.

As of June 18, 2018:
Last change -$214M (-1.1%)
YTD change +$1.64B (+9.1%)
Industry Industrial
Biggest asset NLMK RX Equity
Citizenship Russian Federation
Age 62
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Vladimir Lisin's net worth of $19.7B can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
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Confidence rating:

The majority of Lisin's fortune is derived from his 84 percent stake in Novolipetsk Steel, a publicly traded miner. The Lipetsk, Russia-based company exports steel to Europe, Southeast Asia, the Middle East and the U.S. Lisin owns the shares through Fletcher Group Holdings, a Cyprus-based holding company, according to the company's website. Novolipetsk Steel is Russia’s largest steelmaker by tonnage in 2017, according to the World Steel Association's website.

Lisin parlayed dividends collected from Novolipetsk Steel into a $5.5 billion investment in United Cargo Logistics Holding (UCL), a transportation and shipping business. Through UCL, he owns Freight One, the largest freight rail operator in Russia; UCL Port, which has port facilities; and VBTH, which provides shipping, shipbuilding and tourist cruise services, according to Lisin's press office. 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 5.8 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 one publicly traded Russian bank: Bank Vozrozhdenie.

The value of his cash investments, which is calculated U.S. dollars and not rubles, reflects the cost of acquiring Freight One, as well as an analysis of dividends, insider transactions, taxes and market performance.

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

One of the Russian richest steel tycoons 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 1992 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 1997, Lisin moved to Novolipetsk Steel (NLMK). 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.
  • 1997 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.