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Oleg Deripaska

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Oleg Deripaska

Date of Birth: 02.01.1968

Oleg Vladimirovich Deripaska is a Russian oligarch, billionaire, chairman of the board (2009-2012 CEO) and founder of 'Basil Element', head of the unified company 'Rusal' (until 2018) and En+ Group (until 2017). He was chairman of the board of 'Russian Aluminium' (2000-2007), president of 'Siberian Aluminium' (1997-2001), and CEO of the Sayanogorsk Aluminium Plant (1994-1997).

Since April 2018, he has been under US sanctions for financing projects of Vladimir Putin, and from 2022, under sanctions from the European Union, Britain, and several other countries due to the extensive Russian invasion of Ukraine.

Birthplace. Education. Born in Dzerzhinsk, Nizhny Novgorod Oblast (Russia). In 1993, he graduated from the physics faculty of Lomonosov Moscow State University. 1996 - Plekhanov Russian University of Economics.

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Career. After graduating from university, Oleg Deripaska founded a small metal trading company, whose profits were almost entirely used to purchase shares of the Sayanogorsk Aluminium Plant (Republic of Khakassia). Even while studying, he became the financial director of the Military Finance Investment Company LLC.

In 1994, 26-year-old Oleg Deripaska became the general director of the Sayanogorsk Aluminium Plant. Under his leadership, the third-largest electrolysis plant in Russia became a leader in the industry in terms of profitability, technological level, product quality, and environmental safety.

In 1997, he was the initiator of the establishment of the first vertically integrated industrial company in the former Soviet Union - the 'Siberian Aluminium' group (renamed 'Basil Element' in 2001), which was based on the Sayanogorsk Aluminium Plant. Later, the company united a number of leading aluminium companies in Russia, producing a wide variety of aluminium and alloy products - from rolled products and semi-finished products to complex architectural constructions and supply components for the aerospace industry, automotive industry, and shipbuilding. Three years after its foundation, the 'Siberian Aluminium' group was counted among the ten leading aluminium producers in the world.

In 2000, Oleg Deripaska became the CEO of 'Russian Aluminium' (RUSAL), which included the aluminium and bauxite plants of the 'Siberian Aluminium' and 'Sibneft' companies. In 2007, a merger took place between the aluminium and bauxite assets of the RUSAL company's, which ranked third in the world in aluminium production, with the SUAL group, which was among the ten leading aluminium producers in the world, and the bauxite assets of the Swiss company 'Glencore'. The resulting company 'Russian Aluminium', where Deripaska chaired the board, became the world's largest producer of aluminium and bauxite.

The merged company 'RUSAL' is the second largest aluminium producer in the world. Its share of global primary aluminium production is 7%, and the share of bauxite is also 7% of global production volume. On March 15, 2018, Vladislav Solovyov was appointed CEO of the company instead of Deripaska, and he also became CEO of En+ Group. Oleg Deripaska is the main shareholder of En+ Group. The En+ Group is an industrial group that unites companies in the energy, non-ferrous metals, and mining sectors, as well as related industries.

The main assets of 'Basil Element' are concentrated in six areas - energy, resources, construction, engineering, financial services, and aviation. In 2006, the consolidated revenue of the group companies exceeded $18 billion. The market capitalization of the assets is estimated at over $23 billion, according to data published on the company's website. The total number of employees is about 300,000.

In the portfolio of 'Basil Element', in addition to 'Russian Aluminium', are the GAZ Group (the second largest car manufacturer in Russia), Ingosstrakh (the oldest and largest insurance company in Russia), Eurosibenergo (managing the assets of the two largest energy producers in Siberia), Glavmosstroy (the largest construction holding in Moscow and the Moscow region), Bank 'Union' (ranked among the 30 largest Russian banks by assets) and so on.

Interests in Ukraine. The 'Russian Aluminium' holding company is a co-owner of the joint-stock company 'Nikolaev Aluminium Factory' (NAZ). Control is exercised through the subsidiary 'Aluminium Ukraine', which acquired 30% of the shares of NAZ in 2000. Since then, 'Russian Aluminium' has invested more than $180 million in the development of the Nikolaev enterprise, according to the company's management.

At the end of 2007, the Russian 'Basil Element', the Ukrainian group 'Development Construction Holding' by Alexander Jaroslavski, and the Austrian company 'Strabag SE' founded the multidisciplinary construction holding 'Strabag Ukraine'. The focus of the new structure is on the construction of infrastructure projects (especially in light of Ukraine's preparation for EURO 2012).

Wealth. According to the Russian and American editions of Forbes magazine, the wealth of the co-owner of 'Russian Aluminium' reached nearly $28.6 billion by the end of 2007, exceeding the previous year's value by $12 billion.

In January 2018, Oleg Deripaska was ranked 247th by Forbes magazine with a fortune of $7.1 billion.

In December 2019, Deripaska topped the ranking of Russian entrepreneurs whose wealth had declined the most over the past decade. According to the magazine, Deripaska's wealth fell from $10.7 billion in 2010 to $4 billion by the end of 2019.

Sanctions. On April 6 2018 he was added to the US sanctions list. The stock prices of Deripaska's companies plummeted. Deripaska announced that one of his main companies - 'Rusal' might go bankrupt. Within a few days, the billionaire lost about 20% of his fortune - $1.6 billion.

On January 28, 2019, the US lifted sanctions against 'Rusal', En+ Group, and 'Eurosibenergo', but Deripaska himself remained under sanctions.

Since 2022, he has been under sanctions from the European Union, Britain, and several other countries due to the extensive Russian invasion of Ukraine.

Social Activities. Oleg Deripaska is the vice president of the Russian Union of Industrialists and Entrepreneurs, chairman of the board of the Russian national committee of the International Chamber of Commerce, and a member of the competition and entrepreneurship committee of the Government of the Russian Federation. He is also a member of the board of trustees of the foundation to promote domestic research, the state academic Bolshoi Theatre, and the business schools of Moscow State University and St. Petersburg State University.

By decree of the President of the Russian Federation, Vladimir Putin, he was appointed as Russia's representative on the Business Advisory Council of the Asia-Pacific Economic Forum. Since 2007, he has been the chairman of the Russian part of this council.

Honors. Recipient of the Order of Friendship. In 1999, 2006, and 2007, he was named 'Entrepreneur of the Year' by the newspaper 'Vedomosti' of 'The Wall Street Journal' and the 'Financial Times'.

Private Life. Divorced. From 2001 to 2018, he was married to Polina Deripaska (Yumasheva), the daughter of Valentin Yumashev, the former head of the administration of President Boris Yeltsin, and the stepdaughter of Tatiana Dyachenko, the daughter of the first Russian president. They have two children, Pyotr (2001) and Marina (2003).

12.26.2023