⬅ # 381 Tamara Gustavson|# 383 Alexander Abramov

# 382 Viktor Vekselberg 

$7.28B

Real Time Net Worth
as of 4/12/2024
-$15.4M (-0.21%)

# 382 Viktor Vekselberg 

$7.28B

Real Time Net Worth
as of 4/12/2024
-$15.4M (-0.21%)
OccupationFounder and Chair, Renova Group
Source of WealthMetals, Investments
Age66
ResidenceMoscow, Russia
Marital StatusMarried
Children2
EducationMS, Moscow State University of Railway Engineering
Age-Adjusted Net Worth$4.85B
Viktor Vekselberg
Viktor Vekselberg
Russia
Net worth: $7.28B

Self-Made Score 

Wealth History

Hover or tap to reveal net worth by year
Loading Chart

Biography

Early Life, Family and Education

Viktor Felixovich Vekselberg was born on April 14, 1957, in Drohobych, Ukrainian Soviet Socialist Republic, to a Ukrainian Jewish father and a Russian mother.
Tragically, Vekselberg's family, numbering seventeen, were victims of the Holocaust, with all but his father and cousin perishing. They were murdered and buried in a mass grave during Nazi repressions in Drohobych.
In 1979, he graduated from the Moscow State University of Railway Engineering and began his career as a researcher and later headed the laboratory of the Design Bureau for rodless pumps.
Vekselberg's cousin is Andrew Intrater.
He is married to Marina and has two children, a daughter, and a son.
His father is Jewish, and his mother is Christian, and Vekselberg identifies himself as multi-national, not adhering to weekly synagogue or church services.

Russian Activities

In 1988, Vekselberg founded Komvek, capitalizing on Gorbachev's policies of Perestroika and Glasnost, and later co-founded Renova Group in 1990 with college classmates Leonard Blavatnik and Vladimir Balaeskoul.
He played a significant role in accumulating interests in aluminum smelters, leading to the establishment of Siberian-Urals Aluminium Company (SUAL) in 1996.
SUAL, under Vekselberg's leadership, pursued a consistent social policy in regions, supporting local communities and small entrepreneurs.
In 1997, Vekselberg joined forces with Alfa Group to acquire an interest in Tyumen Oil Company (TNK), which later became one of Russia's largest oil and gas companies.
Vekselberg played a key role in negotiating and closing the merger of TNK-BP with British Petroleum (BP) in 2003, creating the largest private transaction in Russian history.
In 2006, Renova Group diversified its business, moving away from oil and gas sectors to expand into manufacturing, hi-tech, renewable energy, and transport infrastructure.

International Activities

In 2004, Renova Group established a branch in Zurich, Switzerland, as part of its strategic plan for diversification into hi-tech sectors.
Renova Group's acquisition of stakes in Unaxis Holding AG (later OC Oerlikon) and Sulzer in Switzerland raised concerns with Swiss authorities, although no wrongdoing was confirmed.
Vekselberg played a pivotal role in the restructuring of Oerlikon in 2010, injecting capital as part of a long-term solution amid the global financial crisis.
In 2017, Vekselberg was offered citizenship of the Republic of Cyprus due to his investments there, although he maintained Russian citizenship.
Vekselberg's international activities faced scrutiny and sanctions, notably under the Countering America's Adversaries Through Sanctions Act (CAATSA) in 2017 and subsequent measures imposed by various countries.
In April 2022, Vekselberg's motoryacht Tango was seized by Spanish Civil Guard and U.S. federal agents in Mallorca, following economic sanctions imposed by the United States.

Art Collection

Vekselberg acquired nine Fabergé Imperial Easter eggs from the Forbes family in 2004, making him the largest owner of such eggs globally.
He spent over $100 million on the nine eggs and later opened the Fabergé Museum in Saint Petersburg in 2013 to display his collection.
In 2006, Vekselberg facilitated the return of the historic Lowell House Bells from Harvard University to the Danilov Monastery in Moscow.
He also made headlines for purchasing 'Odalisque,' a painting by Boris Kustodiev, at a Christie's auction in 2005, although its authenticity was later questioned.
Vekselberg's passion for art extends to philanthropy, with notable donations to cultural institutions like the Jewish Museum and Tolerance Center in Moscow.
He has a significant collection of art and artifacts, demonstrating his commitment to preserving and showcasing Russian cultural heritage.

Charitable Donations

Renova, Vekselberg's firm, donated between $50,000 and $100,000 to the Clinton Foundation.
Vekselberg contributed $4.5 million to the construction of the Jewish Museum and Tolerance Center in Moscow and actively supports the restoration of synagogues in Russia.
He donated $300,000 for the creation of a monument in Moscow commemorating resistance heroes in concentration camps and ghettos.
During the COVID-19 pandemic in 2020, Vekselberg donated 180 million rubles for medical equipment and assistance to vulnerable citizens.
In 2021, he was recognized by Russian Foreign Minister Sergey Lavrov for his contributions to repatriating Russian tourists during the pandemic.
Vekselberg's philanthropic endeavors span various sectors, reflecting his commitment to social welfare and cultural preservation.

Sanctions and Legal Issues

Vekselberg and his businesses faced sanctions from the U.S. Treasury Department, freezing over $1.5 billion in assets and restricting financial transactions.
He was questioned by Robert Mueller's team in 2018 and subject to scrutiny for his connections to the Kremlin.
In April 2018, the U.S. imposed sanctions on Vekselberg and Renova Group in relation to Russia's annexation of Crimea, further impacting his financial assets.
Subsequently, his properties were searched by the FBI and Department of Homeland Security in 2022, indicating ongoing legal scrutiny.
Vekselberg's international activities, particularly during the Russo-Ukrainian War, led to intensified sanctions from multiple countries, seizing assets and imposing travel bans.
His involvement in various legal and sanctions-related issues underscores the complexities of operating in global business environments amid geopolitical tensions.

How long would it take you to become as rich as Viktor Vekselberg?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Viktor Vekselberg's net worth of $7.28B.

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 36.27% compared to 8.51% for the S&P 500 benchmark.

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

Viktor Vekselberg 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 Viktor Vekselberg, Metals 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