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Grizzly Bulls’ Billionaires Index

⬅ # 775 Gabe Newell|# 777 Zeng Fangqin ➡

# 776 Petr Aven 

$4.18B

Real Time Net Worth
as of 7/25/2024
-$2.5M (-0.06%)

# 776 Petr Aven 

$4.18B

Real Time Net Worth
as of 7/25/2024
-$2.5M (-0.06%)
OccupationCo-owner, Alfa-Bank
Source of WealthOil, Banking, Telecom
Age69
ResidenceLatvia
Marital StatusMarried
Children3
EducationPh.D, Moscow State University
Age-Adjusted Net Worth$2.27B
Petr Aven
Petr Aven
Russia
Net worth: $4.18B

Self-Made Score 

Wealth History

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Biography

Overview

Petr Aven is a Russian oligarch, businessman, economist, and politician, also holding Latvian citizenship.
He amassed his wealth primarily through his involvement in Alfa-Bank, Russia's largest commercial bank, and co-ownership of LetterOne Group.
Aven is known for his ties to Russian leadership, particularly Vladimir Putin, and his involvement in various economic and political spheres.

Early Life and Education

Born on March 16, 1955 in Moscow to a mixed heritage, his father was a professor of computer science with Latvian roots, while his mother hailed from a Jewish family.
Attended Moscow Physics and Mathematics School No. 2, later graduating from Moscow State University with a PhD in economics in 1980.
Early in his career, he worked at the Institute for Systems Studies at the Soviet Academy of Sciences and the International Institute for Applied Systems Analysis in Austria.

Career

Played a pivotal role in Russian economic reform, advising on currency convertibility and managing foreign debt under Boris Yeltsin's presidency.
Served as Russia's Minister of Foreign Economic Relations from 1991 to 1992, engaging in high-level trade missions and representing Russia in international forums.
Became a key figure in Alfa Group after meeting Mikhail Fridman in 1994, serving as president of Alfa-Bank until 2011 and later assuming leadership roles in ABH Holdings S.A. and AlfaStrakhovanie Group.
Joined LetterOne Group's board in 2013, contributing to its expansion into telecoms, technology, and energy sectors globally.
Co-authored 'Gaidar's Revolution' in 2015, providing insights into Russia's economic transformation, and authored 'The Age of Berezovsky' in 2017, delving into the life of Boris Berezovsky.
Involved in significant acquisitions, including LetterOne's purchase of assets from E.ON in 2015 and strategic moves into Brazilian telecoms.

Sanctions and Legal Issues

Subject to EU sanctions in 2022 following the Russo-Ukrainian War, with assets frozen and personal sanctions imposed.
Facing legal scrutiny in the UK over alleged sanctions evasion, including investigations into financial transfers and property raids.
Engaged in multiple libel suits, notably against the Center for Public Integrity in 2005 and BuzzFeed in 2017 over the publication of unverified Steele dossier allegations.
Won defamation suits against Fusion GPS and Glenn Simpson in the UK, and obtained damages for false claims made in the Steele dossier regarding financial ties to Putin.
Continues legal battles in the US and UK over defamation claims related to the Steele dossier and allegations of involvement in illicit activities.

How long would it take you to become as rich as Petr Aven?

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 Petr Aven's net worth of $4.18B.

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

Petr Aven 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 Petr Aven, Oil, Banking and Telecom 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