⬅ # 82 Elaine Marshall|# 84 Gennady Timchenko

# 83 Alexey Mordashov 

$24.8B

Real Time Net Worth
as of 5/21/2024
-$9.6M (-0.04%)

# 83 Alexey Mordashov 

$24.8B

Real Time Net Worth
as of 5/21/2024
-$9.6M (-0.04%)
OccupationChair, Severstal
Source of WealthSteel, Investments
Age58
ResidenceMoscow, Russia
Marital StatusMarried
Children7
EducationMS in Engineering, Leningrad Institute of Economics; MBA, University of Northumbria
Age-Adjusted Net Worth$28.3B
Alexey Mordashov
Alexey Mordashov
Russia
Net worth: $24.8B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Alexey Alexandrovich Mordashov was born on September 26, 1965
Son of Russian steel mill workers
Family lived on welfare coupons with limited monthly allowances
Graduated with a bachelor's degree from Leningrad Engineering-Economical Institute
Obtained an MBA from Northumbria University in 2001

Career

Joined Cherepovetskiy Metallurgical Plant in 1988 as an economist
Became finance director by 1992, shortly before the company was privatized
Formed investment funds to acquire shares, building a major stake in the factory
Appointed CEO of Severstal in 1996
Expanded Severstal into a conglomerate, acquiring steel, coal, and mining companies
Co-owner of Rossiya Bank in 2003
Invested in US steel companies between 2004 and 2014, selling all US assets for $2.3 billion
Purchased shares in TUI Travel in 2007 and held a blocking stake in TUI Group in 2014
Co-created the National Media Group in 2008
Purchased 25% of Power Machines shares in 2011
Bought 50% of Tele2 Russia in 2013 with partner Yuri Kovalchuk
Consolidated Severstal's gold mining assets into Nord Gold N.V. in 2012
Elected chairman of the World Steel Association in 2012

Sanctions and Controversies

Blacklisted by the EU in 2022 after the Russian invasion of Ukraine
UK government sanctions in 2022 related to Russo-Ukrainian War
Mentioned in the Pandora Papers for using shell companies to expand business
Underwent asset freezing, including yacht seizures, due to EU sanctions

Personal Life

Married twice, first to Elena with whom he has a son, Ilya (divorced in 1996)
Married second Elena, with whom he has two sons, Kirill and Nikita
Created KN-holding company in 2018–2019 to transfer shares to sons for business experience
Reportedly transferred ownership stake in TUI to a Caribbean shell company controlled by Marina Mordashova in 2022

How long would it take you to become as rich as Alexey Mordashov?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Alexey Mordashov's net worth of $24.8B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Alexey Mordashov is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Alexey Mordashov, Steel and Investments are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey