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Wealth

Billionaire Len Blavatnik Unloads Last Major Russia Asset With Rusal Sale

  • $33.5 billion fortune was built amid post-Soviet privatization
  • Blavatnik owns large stakes in Warner Music, LyondellBasell
Rolls of aluminum foil at a Rusal facility in Sayanogorsk, Russia.

Rolls of aluminum foil at a Rusal facility in Sayanogorsk, Russia.

Source: Bloomberg

Updated on

Len Blavatnik has sold his stake in Russian aluminum producer United Co. Rusal International PJSC, divesting his last major asset in the country where he seeded his $33.5 billion fortune.

Blavatnik sold the shares in the second half of last year, according to people familiar with the sale who declined to comment on the buyer or other details of the transaction. His interest in Rusal amounted to about 1.2 billion shares, which had a market value of about $610 million at the end of 2022.