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Grizzly Bulls’ Billionaires Index

⬅ # 433 Michal Solowow|# 435 Nathan Kirsh ➡

# 434 Andrei Skoch 

$6.60B

Real Time Net Worth
as of 7/25/2024
-$241 (-0.00%)

# 434 Andrei Skoch 

$6.60B

Real Time Net Worth
as of 7/25/2024
-$241 (-0.00%)
OccupationPartial Owner, Lebedinsky Mining
Source of WealthMetals And Mining
Age58
ResidenceMoscow, Russia
Marital StatusSingle
Children10
EducationState Central Institute of Physical Culture
Age-Adjusted Net Worth$7.56B
Andrei Skoch
Andrei Skoch
Russia
Net worth: $6.60B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Andrei Vladimirovich Skoch was born on January 30, 1966, in Nikolskoye, Moscow region.
He served in the Soviet Army in 1984 before pursuing higher education.
Skoch attended the Institute of Physical Culture and later graduated from Moscow State University for Humanities, specializing in psychology.

Business Ventures

In the late 1980s, Skoch ventured into business, initially opening a bakery with Lev Kvetnoi.
He transitioned to selling computer components and owning fuel distribution companies.
Skoch held executive positions such as Deputy General Director at 'Kuznetsov and Partners LLC' and later joined the investment company 'Interfin' as Deputy General Director.

Partnership With Alisher Usmanov

Skoch entered the metals business after meeting fellow billionaire Alisher Usmanov in 1995 and collaborated with him.
Together with Lev Kvetnoi, they acquired Lebedinsky Mining and a steel production plant in Belgorod.
Skoch owns 30% of Metalloinvest, although the shares are held under his father's name, Vladimir Skoch.

Political Career

Skoch's political career began in 1999 when he became a member of the State Duma, representing the Belgorod region.
He has been re-elected multiple times, serving across different convocations of the State Duma.
Throughout his tenure, Skoch has been involved in various legislative initiatives and amendments, co-authoring 163 of them.

Philanthropic Activities

Since 2005, Skoch has been organizing the 'New Generation' seminar, a charitable event held annually.
He established the Pokolenie Foundation, which supports cultural workers, families with three or more children, veterans, and funds medical facility constructions and cemetery restorations.

Controversies and Sanctions

Skoch has faced sanctions from the U.S., EU, and UK, primarily due to alleged ties to organized crime and his political actions.
Despite denying allegations, Skoch's inclusion in sanctions lists has impacted his business and personal affairs.
The U.S. sanctions were imposed in 2018, citing longstanding ties to Russian organized criminal groups.

Personal Life

Skoch is the father of ten children, including quadruplets born in 1994, and has a granddaughter as of February 2022.
He transferred his business shares to his father, Vladimir Skoch, upon being elected to the State Duma.
Skoch's daughter Varvara is involved in managing his shares in businesses due to restrictions placed on Duma members.

How long would it take you to become as rich as Andrei Skoch?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Andrei Skoch's net worth of $6.60B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

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

Andrei Skoch 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 Andrei Skoch, Metals And Mining is the primary source. 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