Andrey Molchanov – Net Worth $1 Billion

aurora yacht 1

Andrey Molchanov is the chairman of the LSR Group with a net worth of $1 Billion. He made most of his wealth with his property and building company LSR Group, which he founded in 1993. He has close political ties with the Russian Government and owns the superyacht AURORA.

Name:Andrey Molchanov
Net Worth:$1 billion
Source of Wealth:LSR Group
Born:1971
Country:Russia
Yacht:Aurora

Andrey Molchanov Net Worth

With a net worth of $1 billion, he is the owner of the $120 million superyacht, AURORA. The vessel is possibly named after the Russian Navy cruiser Aurora, which was based in St Petersburg.

The original ship Aurora was a cruiser that played an important role in Russia’s 1917 October Revolution. She now is in a navy museum based in St Petersburg.

Molchanov owned a residence in Barvikha near Moscow. He also owns property in St Petersburg and Sardina. He holds a private jet which is a Bombardier Global 5000 model. This model of the plane has a $50 million price tag.

Background

Andrey Molchanov is married to Elizaveta Molchanova, and they have four children. He was born in 1971 in Saint Petersburg, Russia. He graduated from the economic faculty in 1993 at Saint Petersburg State University.

In 1998 he graduated from the Russian Academy of Public Administration. He also holds a doctorate in Economic Sciences. His stepfather, Yuriy Molchanov, was a vice-rector for international relations at Leningrad State University and, between 2004 and 2012, the deputy Governor of Saint Petersburg.

He has been placed on the United States Department of Treasury “Oligarchs List,” which lists people close to President Vladimir Putin.

Business

Andrey Molchanov founded Open Joint Stock Company LSR Group, which he was the president of until 2007 after beginning the company in 1993. LSR is one of Russia’s leading real estate development, construction, and building materials companies.

The company combines real estate development and construction and the production of building materials. The group has more than 12000 employees.

LSR is one of Russia’s leading real estate developers, with a portfolio of 7.8 million square meters of space. After a stint at the Federation Council, he returned in 2013 to the LSR Group.

He took the role of chairman of the board of directors from 2013 to April 2015. He again headed the position from August 2018 to 2019.

In April 2019, Molchanov reduced his shares in the LSR Group to 50.33%, reducing his ownership by 9.71%. Molchanov was listed in Forbes with his wealth at $950 million upon this sale. He has continued as the general director of the LSR Group since 2019. 

Political Ties

Molchanov is noted to have close relations with Russian President Vladimir Putin. In 2007, he was appointed as the Assistant of the Russian Federation’s public health services and social development Minister.

From 2008 until 2013, he was on the Council of the Federation of the Federal Assembly for the Russian Federation.

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