⬅ # 308 Mat Ishbia|# 310 Ivar Tollefsen

# 309 Iskander Makhmudov 


Real Time Net Worth
as of 5/29/2024
-$360 (-0.00%)

# 309 Iskander Makhmudov 


Real Time Net Worth
as of 5/29/2024
-$360 (-0.00%)
OccupationFounder, Ural Mining and Metallurgical
Source of WealthMining, Metals, Machinery
ResidenceMoscow, Russia
Marital StatusMarried
EducationMA/Science, Tashkent State University
Age-Adjusted Net Worth$8.58B
Iskander Makhmudov
Iskander Makhmudov
Net worth: $8.58B

Self-Made Score 

Wealth History

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Iskander Kakhramonovich Makhmudov was born on December 5, 1963, in Uzbekistan to a Muslim Uzbek family.
Makhmudov's career began with various roles in Soviet military organizations in Libya and Iraq, including the Principal Engineering Directorate.
He started his business career with the Cherneys and the Reuben brothers' Trans-World Group, the largest metal trader in Russia at the time.
In 1999, Makhmudov founded Uralskaya Gorno-Metallurgicheskaya Kompaniya (UGMK), now the fourth largest non-ferrous metallurgical company in Russia and the country's second-largest copper producer.
Makhmudov's business interests expanded to include various sectors such as mining, publishing, transportation, and hospitality.

Business Ventures and Investments

Makhmudov was a major owner of Ural Mining Metallurgical Company (UMMC), with controlling stakes in over 40 plants across 11 regions of Russia.
He holds a stake in Transmashholding, Russia's largest locomotive and rail equipment manufacturer.
Makhmudov owns a portion of Aeroexpress, a rail transportation service connecting Moscow with surrounding airports.
He acquired a stake in Let Kunovice Aircraft Industries, with plans for aircraft deliveries to the Russian Defense Ministry.
Makhmudov invested in LLC Transoil, one of Russia's leading railway operators for oil transport.
He owns Moscow Passenger Company (MPC), which acquired a significant stake in Central Suburban Passenger Company (CSPC), a major player in Russian suburban transportation.

Notable Projects and Contributions

UMMC constructed the Shayba ice arena for the 2014 Sochi Olympics, donating it to the Russian government after the games.
Makhmudov facilitated partnerships and investments in various industries, including steel production, restaurant chains like Wendy's, and luxury hospitality with Hyatt Hotels.
He contributed to the development of innovative projects, such as collaborating with Skolhovo Foundation on research and development initiatives.

Legal Affairs and Controversies

In 2003, Makhmudov and his former business partner Oleg Deripaska faced accusations of leading a racketeering scheme in American courts, but the lawsuit was dismissed on jurisdictional grounds.
Makhmudov's business dealings have drawn attention, with connections to high-profile figures like Alimzhan Tokhtakhunov and Gennady Timchenko.

How long would it take you to become as rich as Iskander Makhmudov?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Iskander Makhmudov's net worth of $8.58B.

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 42.57% compared to 11.75% for the S&P 500 benchmark.

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Iskander Makhmudov 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 Iskander Makhmudov, Mining, Metals and Machinery 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