Alexey Mordashov
Alexey Mordashov | Shareholder and Chairman, Severstal | $25.4B as of 6/30/24
Alexey Mordashov is a Russian billionaire businessman, known for his role as the chairman of Severstal, a major steel and mining company. His investments span various sectors, including tourism and technology, making him one of Russia's wealthiest individuals.
Personal Information:
Full Name: Alexey Alexandrovich Mordashov
Name in the Language of Origin: Алексей Александрович Мордашов
Date of Birth: September 26, 1965
Place of Birth: Cherepovets, Vologda Oblast, Russian SFSR, Soviet Union
Zodiac: Libra
Marital Status and Family: Married to Marina Mordashova; they have five children.
Relatives: No publicly known siblings.
Background and Early Life:
Family Background: Mordashov was born into a working-class family; his father was a steel mill worker, and his mother was an economist.
Ancestry: Russian descent.
Early Influences: Grew up in an industrial town, which influenced his entry into the steel industry.
Has Been Influenced By: Soviet-era industrial leaders and Western business practices post-1990s.
Books that Impacted the Most: Not widely known for specific book influences.
Educational Background:
B.A. in Economics: Leningrad Engineering-Economical Institute (now St. Petersburg State University of Economics)
M.B.A: Northumbria University, UK
Professional Career:
Current Occupation: Chairman of Severstal
Career History:
Joined Severstal in 1988 as an economist.
Became the finance director in 1992.
Appointed CEO in 1996 and has been Chairman since 2006.
In 2015, Mordashov stepped down as CEO, appointing former COO Vadim Larin, in his place.
Career Milestones:
Key Achievements:
Transforming Severstal into a leading global steel producer.
Expanding Severstal's operations internationally.
Innovations and Contributions:
Diversifying Severstal's portfolio into mining and other sectors.
Industry Impact:
Played a crucial role in modernizing the Russian steel industry.
Net Worth and Assets:
Estimated Net Worth: Approximately $29 billion (as of 2023).
Key Assets: Major shareholder in Severstal, investments in gold mining, power engineering, and tourism.
Investments: Stakes in companies such as TUI Group.
Stock Records: Major holdings in Severstal (CHMF.MM on Moscow Exchange).
Business Interests:
Primary Business: Steel and mining through Severstal.
Known Current and Past Board of Directors Positions:
Severstal
TUI Group
Mordashov was elected as chairman of the World Steel Association in October 2012.
Other Ventures: Gold mining, power engineering, machinery.
In 2004, Mordashov started investing in US steel companies, purchasing companies in Dearborn, MI and Columbus, MS. The acquisition included the Rouge Plant in Dearborn. He received a loan from the United States Department of Energy to renovate and refurbish the manufacturing plants in Dearborn. The value of the loan, over $370 million, was revoked in 2012, after growing political tensions between the US and Russia. Between 2004 and 2014, Mordashov and Severstal invested up to $3 billion in both the Dearborn and Columbus plants. In 2011 he sold a number of US assets in Ohio, Maryland and West Virginia to the Renco Group, owned by industrialist Ira Rennert. By 2014 all of Severstal's US investments had been sold for a total of $2.3 billion.
In autumn 2007, Mordashov purchased shares in TUI Travel. As he increased his stake to the largest single shareholder through his S-Group Travel, TUI Travel under Michael Frenzel expanded into Eastern Europe and Russia in 2008, China and India in 2009, and sold off its shipping interests, Hapag-Lloyd AG, to the Albert Ballin Consortium in March 2009. In 2014, he held a blocking stake of more than 25% in TUI Travel when TUI Travel was absorbed by TUI Group. In October 2018, he has a 24.9% stake in TUI Group through his S-Group Travel and has been on the TUI Group supervisory board since 2016.
In 2008, Mordashov, Surgutneftegas and Rossiya Bank created the National Media Group, which now owns packages in TV channels (Fifth, First, REN TV).
In 2011, Mordashov purchased 25% of the shares in steam turbine manufacturer, Power Machines, from Siemens. In 2013, with partner Yuri Kovalchuk, Mordashov bought 50% of Tele2 Russia, the country's 4th largest mobile phone operator.
In 2012, Mordashov consolidated Severstal's gold mining assets into one company, Nord Gold N.V. The company was listed on the London Stock Exchange (LSE: NORD LI). In 2013, Nord Gold was awarded a license to embark on gold exploration in Siberia. In 2017 Mordashov announced plans to delist Nordgold from the London Stock Exchange (LSE) citing unfair valuation as the reason. The LSE requires that companies have at least 25% as free float, while Mordashov owns 91% of the company.
In June 2013, Mordashov was the fifth largest shareholder of Rossiya Bank owning 6%.
Leadership Style and Business Philosophy:
Leadership Approach: Strategic and forward-looking, focusing on sustainability and innovation.
Business Philosophy: Emphasis on long-term growth and diversification.
Philanthropy and Social Contributions:
Charitable Donations: Significant donations to Russian cultural and educational causes.
Foundations and Initiatives:
Supports the Endowment Fund for Education and Science.
Involved in various charitable activities through Severstal.
Philanthropic Goals: Focus on education, culture, and social welfare.
Environmental Stewardship: Initiatives to reduce Severstal’s environmental impact.
CSR: Active corporate social responsibility programs.
Lifestyle and Interests:
Main Residence: Moscow, Russia.
Personal Values: Strong belief in education, sustainability, and social responsibility.
Hobbies and Interests: Sailing, classical music.
Social Circles: Prominent figures in Russian business and politics.
Membership in Private Clubs and Social Organizations: Active in business councils and industry groups.
Associates:
Business Connections:
Vladimir Potanin: Russian billionaire, business associate.
Vagit Alekperov: Lukoil President, industry peer.
Oleg Deripaska: Industrial magnate, occasional collaborator.
Alexey Miller: CEO of Gazprom, professional acquaintance.
Roman Abramovich: Business magnate, acquaintance through industry.
Gennady Timchenko: Businessman, professional connection.
Andrey Melnichenko: Russian industrialist, professional peer.
Igor Sechin: CEO of Rosneft, industry associate.
Dmitry Mazepin: Russian businessman, industry colleague.
Mikhail Prokhorov: Russian businessman, professional acquaintance.
Personal Connections:
Vladimir Putin: President of Russia
Dmitry Pumpyansky: Chairman of TMK, close associate.
Sergei Roldugin: Cellist and businessman, personal friend.
Arkady Rotenberg: Businessman, personal acquaintance.
Mikhail Fridman: Co-founder of Alfa Group, social acquaintance.
Yelena Baturina: Businesswoman, personal acquaintance.
Vladimir Lisin: Steel industry peer, social acquaintance.
Vladimir Yakunin: Former president of Russian Railways, friend.
Alexander Voloshin: Russian state official, close associate.
Alisher Usmanov: Business magnate, friend.
Nikolai Tokarev: President of Transneft, professional and personal acquaintance.
Yury Kovalchuk: Russian billionaire businessman and financier who is "reputed to be Vladimir Putin's personal banker".
Andrey Kostin: President and Chairman, VTB.
Kishore Mahbubani: Former President of the United Nations Security Council.
Alexander Daniltsev: Director of Institute of Trade Policy, Higher School of Economic.
Ruben Vardanyan: Former State Minister of Artsakh.
Mikhail Kusnirovich: Chairman, Bosco di Ciliegi.
Guy Dollé: French businessman. He was the CEO of the European steel manufacturer Arcelor until 2006.
Patrick Ollier: French politician. He is the Mayor of Rueil-Malmaison.
David Yakobashvili: Co-Founder, JSC Wimm-Bill-Dann
Political and Social Influence:
Political Affiliations: Close ties to the Kremlin and Russian government.
Advocacy: Advocates for Russian industry and international trade.
Significant Political Statements: Generally supports Russian government policies.
Future Plans and Projects:
Upcoming Ventures: Continued expansion of Severstal’s international operations.
Forecasts: Focus on sustainability and technology integration in industry.
Legacy: Known for transforming and modernizing the Russian steel industry.
Available Data on Possessions:
Yachts: "Lady M" superyacht.
Superyachtfan
Private Jets: Likely owns private jets; specifics not publicly documented.
Cars: Known to own luxury cars, including brands like Mercedes-Benz and Bentley.
Art: Collector of Russian and European art; specifics not publicly detailed.
Real Estate and Residences: Properties in Russia and abroad; specifics not publicly disclosed.
Collectables: Not widely known for collectible items.
Expensive Accessories: Known for a discreet lifestyle; limited public information on luxury accessories.
Public Persona and Influence:
Media Presence: Active in Russian and international media through business news.
Public Speaking: Regularly speaks at industry conferences and business forums.
Public Appearances:
World Economic Forum
St. Petersburg International Economic Forum
Russian Business Week
International Steel Industry Conferences
Moscow Economic Forum
Business Roundtables in Europe and Asia
Industry Award Ceremonies
Cultural and Philanthropic Events
Economic Summits in Russia and Abroad
Technology and Innovation Conferences
Recognition and Awards: Numerous awards for contributions to industry and business.
On 10 October 2017 Alexey Mordashov became a Commander of the Order of Merit of the Grand Duchy of Luxembourg.
Future Plans and Projects:
Upcoming Ventures: Focus on sustainability initiatives and expanding Severstal’s global reach.
Forecasts: Expected to remain a significant figure in the global steel industry.
Legacy: Renowned for his leadership in the steel industry and contributions to Russian business.
Political and Social Influence:
Political Affiliations: Strong connections with the Russian government.
Advocacy: Advocates for industrial growth and economic development in Russia.
Significant Political Statements: Supports initiatives that promote Russian economic interests.
Other Information:
Unique Contributions: Played a key role in modernizing and expanding the Russian steel industry on a global scale.
Media Search Results for Alexey Mordashov
There are currently no biographical books specifically dedicated to Alexey Mordashov available in public databases.
Controversies and Legal Issues
Controversies
Alexey Mordashov has been involved in several controversies, particularly related to his business dealings and the expansion of Severstal, his steel and mining company. He has faced criticism for his aggressive business strategies, including the acquisition of several companies across various sectors like gold mining and telecommunications.
Legal Issues
Mordashov has been implicated in legal and regulatory issues primarily related to international sanctions. Following the 2022 Russian invasion of Ukraine, the European Union, the United Kingdom, and other countries sanctioned him, leading to the freezing of his assets. Additionally, the Italian authorities seized one of his yachts, "Lady M," in March 2022. At that time, another one of his yachts, the Nord, was outside the European Unions jurisdiction in the Seychelles.
Scandals
Mordashov has faced scrutiny due to his involvement in offshore financial activities revealed by the Pandora Papers were a collection of nearly 12 million leaked confidential financial records compiled by the International Consortium of Investigative Journalists. Within those records are details of how a special unit known as "Cypriot" within accounting firm PricewaterhouseCoopers (PwC) helped Mordashov "build the offshore infrastructure of his business empire." The firm helped set up over 65 shell companies in various "secrecy jurisdictions" such as the British Virgin Islands on behalf of a holding company connected to Mordashov. Through these shell companies, Mordashov expanded his presence in the logging, coal, and media industries inside Russia.
Allegations
There have been allegations that Mordashov's business practices have involved unethical tactics, such as using his influence to secure favorable deals and sidestep regulatory challenges. His close ties with the Russian government and President Vladimir Putin have also been a point of contention.
Criticisms
Critics have often pointed to Mordashov's use of offshore entities to manage his wealth and business interests, which they argue undermines financial transparency. His involvement in various sectors, from steel to telecommunications, has also led to concerns about monopolistic practices.
Public Conflicts
Mordashov has maintained a relatively low profile in terms of public conflicts. However, his business rivalries, particularly in the steel and mining industries, have occasionally brought him into the public eye.
Mordashov and his first wife Elena (sometimes Yelena) have a son, Ilya, and divorced in 1996. In 2001, it was revealed in a St Petersburg divorce court that he was paying only $620 a month to support his ex-wife and son, when she sued him for half of his pre-divorce property but lost the case and incurred large fees. The case was eventually settled after she took it to the European Court of Human Rights.
Curious Information
Little-known Biography Facts
Mordashov started his career at the Cherepovets steel mill, where his father also worked, and rapidly climbed the ranks to become the financial director by 1992.
He holds an MBA from the University of Northumbria and an undergraduate degree from St. Petersburg State University of Engineering & Economics.
In 2011, he was the only Russian participant in a meeting of Bilderberg Club at St Moritz, Switzerland.
Unusual Experience
In addition to his business pursuits, Mordashov is known for his significant investments in the arts and cultural institutions in Russia. He is a council member of the State Tretyakov Gallery and the Valaam Monastery.
Gossip and Rumors
There have been rumors regarding Mordashov's personal life, particularly concerning his family and the distribution of his wealth among his children. Speculations about his relationships and personal investments often surface in media reports.
Mentions in Conspiracy Theories
Mordashov has been mentioned in conspiracy theories primarily due to his connections with the Russian government and President Vladimir Putin. These theories often suggest that his business success is partly due to his political connections and influence.
Psycho-Emotional Profile of Alexey Mordashov
Emotional State and Mood
Alexey Mordashov, chairman of Severstal, generally presents a calm and confident demeanor. Public appearances and his strategic business decisions suggest a stable emotional state, with predominant emotions being determination and optimism. This stability is likely a result of his extensive experience and success in the steel industry, combined with his strategic approach to managing business operations.
Personality Traits
Mordashov demonstrates traits of conscientiousness, introversion, and resilience. His meticulous and strategic approach to business, particularly in managing Severstal and his various investments, highlights his conscientious nature. Despite his significant public influence, Mordashov maintains a relatively low public profile, reflecting introverted tendencies. His resilience is evident through his ability to navigate and thrive in the competitive and volatile steel market, ensuring his company's growth and stability.
Stress Levels and Coping Mechanisms
Given his leadership role and the fluctuating nature of the steel industry, Mordashov likely experiences significant stress. He manages this stress through strategic planning, problem-solving, and maintaining a strong support network of trusted advisors and colleagues. His ability to remain composed and focused during market fluctuations and economic downturns suggests effective coping mechanisms, which include a blend of rational analysis and decisive action.
Self-Esteem and Self-Concept
Mordashov's self-esteem appears high, bolstered by his substantial achievements and the respect he commands in the industry. He views himself as a capable and influential leader, a perception reinforced by his successful management of Severstal and his strategic investments in various sectors. His self-concept is closely tied to his identity as a successful industrialist and a key player in the global steel market.
Interpersonal Relationships
Mordashov maintains strong professional relationships within Severstal and the broader business community. His leadership style fosters loyalty and respect among his employees and business partners. On a personal level, his relationships are supported by a close-knit network, contributing to his emotional and psychological stability. Mordashov’s ability to build and sustain these relationships highlights his interpersonal skills and emotional intelligence.
Behavioral Patterns
Mordashov's behavior is characterized by disciplined, goal-oriented actions. His business practices demonstrate a pattern of calculated risk-taking and meticulous execution, which has been crucial in expanding Severstal's capabilities and market reach. His methodical approach to business and investment decisions suggests a structured and organized lifestyle focused on long-term success. There are no public indications of maladaptive behaviors, reinforcing the perception of a well-regulated personal and professional life.
Psychological Well-being
Overall, Mordashov’s psychological well-being appears robust. His ability to handle significant business challenges while maintaining a positive outlook contributes to high life satisfaction. Despite the pressures associated with his roles, there are no signs of significant mental health issues, indicating a stable psychological state and a positive perspective on his professional and personal life.
Cognitive Functioning
Mordashov’s cognitive abilities are exceptional, evidenced by his strategic thinking and problem-solving skills. His successful navigation of complex business environments and anticipation of industry trends showcase strong memory, attention, and analytical capabilities. His innovative approach to steel production and market expansion reflects a sharp and strategic mind.
Past Experiences and Trauma
Mordashov's experiences, including his rise in the steel industry and his leadership of Severstal, have shaped his resilient and strategic nature. These experiences have contributed to his robust coping mechanisms and his ability to focus on long-term objectives despite facing substantial challenges and market volatility.
Motivations and Goals
Mordashov is driven by a desire to innovate and lead in the steel industry. His personal goals include expanding Severstal’s global influence and continuing to drive technological advancements in steel production. Both intrinsic motivations, such as personal fulfillment from business success, and extrinsic motivators, like financial gain and industry recognition, drive his actions.
Physical Health and Its Impact
There is limited public information on Mordashov’s physical health, but his active involvement in professional activities suggests he maintains good physical well-being. His physical health supports his ability to manage his responsibilities effectively, contributing to his overall psychological resilience.
Conclusion
Alexey Mordashov’s psycho-emotional profile portrays him as a resilient, conscientious, and strategic leader. His strong self-concept, effective stress management, and robust psychological well-being enable his continuous success in the steel industry. His personality traits, cognitive abilities, and motivations align to create a profile of a highly driven and impactful figure in the global business landscape.
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