Andrey Melnichenko is a Russian billionaire with a net worth of $26.3 billion. He is one of the richest people in Russia and also one of the youngest Russian billionaires.
|NET WORTH||$26.3 BILLION|
|SOURCE OF WEALTH||EUROCHEM|
|YACHT||SAILING YACHT A|
Andrey Melnichenko’s NETWORTH
Melnichenko is one of Russia’s youngest billionaires. He has a net worth of $26.3 billion, according to Forbes.
Melnichenko is the owner of two high tea sailing yachts, the SAILING YACHT A and MOTOR YACHT A. These were both designed by Philippe Starck.
Boat International called SAILING YACHT A, the biggest sailing yacht in the world, a “boundary pushing superyacht,” reflecting the same innovation and high-tech detail of her owner.
He owns several houses, including a Villa Altair in Cap D’Antibes and a $12 million penthouse in New York, the Harewood Estate in the UK worth $40 million.
Melnichenko studied at the Advanced Education and Science Centre of the Lomonosov Moscow State University and later became a student of the Faculty of Physics at Moscow State University. He later transferred to the Plekhanov Russian University of Economics, graduating in finance.
Melnichenko began his entrepreneurial ventures at university by opening a currency exchange on campus. He and his two like-minded partners received a banking license from the Bank of Russia after making their first $50,000.
At the age of 21, he co-founded the MDM Bank. He grew the bank as the chair of the Board of Directors and bought his partners out in 1997. The bank had impressively come through the 1998 Russian financial crisis thanks to the conservative banking policies.
MDM Bank snagged the biggest Russian companies as clients as other competing banks went under.
The bank continued to grow and was called the “Best Russian Bank” in 2004 by Global Finance. In 2000, he began developing industrial assets with Sergei Popov, a former metals trader from the Urals. He then began selling his shares in MDM Bank to Propov to continue focusing on his industrial assets in fertilizer and coal.
He is the major shareholder of EuroChem, a fertilizer company, and coal producer SUEK. Melnichenko’s companies employ more than 100,000 people and have invested $23 billion into fertilizer and coal production over the last 15 years.
In March 2022, Melnichenko was sanctioned by the EU and other Russian billionaires during Russia’s invasion of Ukraine.
Melnichenko was born in 1972. He married Aleksandra Nikolić, a former Serbian pop singer and model. The couple shares two children, Tara Melnichenko and Adrian Melnichenko.
Andrey Melnichenko is an active philanthropist and supports talented children in science and education with The Andrey Melnichenko Foundation. The foundation launched a network of education and scientific centers for gifted children in Russia.
The foundation also awards scholarships for studying in higher education. Melnichenko’s companies have spent over $500 million on social and charitable programs and are recognized in Russia’s “Leaders in Corporate Philanthropy.”