Home Billionaires Alexey Mordashov & family; Forbes 79th Richest People On Earth

Alexey Mordashov & family; Forbes 79th Richest People On Earth

by odoomebenezeryaw
  • Full Name: Alexey Mordashov & family
  • Date of Birth: September 26, 1965
  • Age: 57 years old (as of September 1, 2023)
  • Source of Wealth: Steel, investments (Self Made)
  • Residence: Moscow, Russia
  • Citizenship: Russia
  • Marital Status: Married
  • Children: 7
  • Education: Master of Science in Engineering (Leningrad Institute of Economics), Master of Business Administration (University of Northumbria)

Alexey Mordashov is a prominent Russian billionaire known for his involvement in the steel industry and various investments. Born on September 26, 1965, in Russia, he has built a significant fortune and a reputation as a successful entrepreneur.

Mordashov’s journey to wealth and prominence began in the steel industry. He rose through the ranks from being the finance director of a steel mill to eventually becoming the CEO of Severstal, a major Russian steel company. He served as Severstal’s CEO for 19 years before resigning from the position in 2015.

One notable aspect of Mordashov’s career is his response to Western sanctions in 2022. In response to these sanctions, he took immediate action by transferring ownership of key assets, including shares in leisure company TUI and mining outfit Nordgold.

Severstal, in which Mordashov still holds a 77% stake, faced challenges due to Western sanctions and reportedly lost more than $400 million in 2022 as a result.

Mordashov’s career also includes the sale of two U.S. steel plants by Severstal in 2014, marking the company’s withdrawal from the American market amidst rising tensions between Russia and the West. Severstal redirected its focus to its domestic business operations.

Beyond his business ventures, Alexey Mordashov is known for his involvement in cultural and artistic endeavors. He serves as a council member at the Bolshoi Theatre.

As of September 1, 2023, Alexey Mordashov & family are ranked as the 79th richest individuals in the world, with a reported net worth of $20.9 billion, according to Forbes. His diverse career in the steel industry, strategic responses to economic challenges, and involvement in various ventures have contributed to his significant wealth and influence in Russia and beyond.

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