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Russia's Capitalism: for All or for the Few?

  • Date Submitted: 09/16/2011 04:13 AM
  • Flesch-Kincaid Score: 53.2 
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Russia's Top 10 Billionaires
Vladimir Lisin
Rank: #14 in Forbes Billionares
#1 in Russia
Age: 55
Net worth: $24 B
Source: Steel

Now Russia's richest person thanks to soaring value of his publicly traded firm, Novolipetsk Steel. Lisin is a proletarian success story. First job was as a mechanic in a coal mine. After college in Siberia he worked as steelworker. In 1991, when his boss was appointed minister of metallurgy, Lisin came with him to Moscow. In 1992 he joined up with tough group of traders called Trans-World Group; they came to dominate Russia's aluminum and steel exports. He managed the factories, and when the partners went their separate ways in 2000, Lisin got majority stake in Russia's giant Novolipetsk steel mill as his share. He constructed one of the largest shooting-range complexes in Europe's Lisya Nora, which is close to Moscow. Publishes the loss-making newspaper Gazeta. In parallel with his main activity, he bought out shares in several sea ports, shipping and transportation companies, and united them into Universal Cargo Logistics Holding B.V. (UCL Holding), of which he is now sole owner.

Alexei Mordashov
Rank: #29 in Forbes Billionaires
#2 in Russia
Age: 45
Net worth: $18.5 B
Source: Steel

Boss of steelmaker Severstal is $8.6 billion richer this year, thanks largely to rebound in steel prices. Despite recovery though still apparently planning to sell at least part of his international assets including Rouge Industries of Dearborn, Michigan and Italian steel producer Lucchini so he can focus on his Russian interests. No takers yet. In addition to steel, has interests in equipment maker Power Machines, tour operator TUI and Russia's biggest online food shop Utkonos. Son of mill worker parents became finance director of a steel mill. When the plant's elderly general director instructed him to buy up company shares so it would not fall into the hands of an outsider, Mordashov bought most of them himself.


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