Alexander Abramov – Net Worth $8 Billion

titan yacht 1

Alexander Abramov is a Russian oligarch, born in 1959. The Russian businessman is a billionaire with a net worth of $8 billion, thanks to his stake in Evraz, Russia’s mining and steel company.

He acts as the chairman of Evraz and owns several other lucrative companies. He is the owner of the superyacht TITAN.

Name:Alexei Alexander Abromovich
Net Worth:$8 Billion
Source of Wealth:Evraz
Born:1959
Country:Russia
Yacht:TITAN

Alexander Abramov Net Worth

According to Forbes, Abramov has a net worth of $8 billion thanks to his shares, sales, and position in Evraz. The businessman also has investments in real estate in the Turks and Caicos and the Czech Republic.

These investments are not included in an asset breakdown because the stakes are not disclosed. 

Along with numerous investments, Abramovich owns the superyacht, TITAN. TITAN is an 80m vessel with a price tag of $100 million. In addition to the luxury vessel, he also owns an Airbus A319 (D-ALXX), his private jet.

Background

He is married to Svetlana Abramov. The couple share three children, Yegor Abramov, Natalya Abramov, and Alexander Abramov Jr.

Abramov was born in Krasnodar, Russia, USSR, and is of Jewish descent. He attended The Moscow Institute of Physics and Technology, graduating with a degree in physics and mathematics in 1982.

Before beginning his business ventures, he first worked for Russia’s space and defense program as a scientist. Government funding declined for the space program, and so he became a major businessman in Russia. 

Before the collapse of the Soviet Union in 1991, he ran a laboratory at the Joint Institute of High-Pressure Temperatures, studying high energy densities and shock wave physics and applied electrodynamics.

Business

Abramov leaped into business when the Soviet Union collapsed in 1991 and founded his first firm in 1992 that imported and sold fitness equipment.

Later, he joined former classmates to create EvrazMetall, an exporter of Russian steel. This precursor enterprise of Evraz Holding made him a fortune by exporting metals and coals from the Urals and Siberia.

Between 2001 and 2003, Abramov and his partners acquired three steel plants Nizhny Tagil Iron and Steel Plant, West Siberian Iron and Steel Plant, and Novokuznetsk Iron and Steel Plant.

These three plants were the foundation for Evraz, which now has iron ore, coal mining, and steel manufacturing operations. The partners sold shares in Evraz on the London Stock Exchange in 2005 for $400 million.

A year later, the partners sold 41% of the company to billionaire Roman Abramovich, pocketing $3 billion. There are ten partners in Evraz. Abramov has a 29% stake in the country and is a director alongside Alexander Frolov.

Abramov used the process to invest in gold, forestry, and mobile internet services. In 2013, Abramov and Abramovich teamed up again to buy a 5.9% stake in Norilsk Nickel, the world’s second-largest nickel producer.

Abramov and partners sold a 24.5% stake in Trans Container for $436 million. The company is Russia’s largest railways container operator.

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