Tony Halpin
Win 100 iconic DVDs
Viktor Vekselberg celebrated his 50th birthday earlier this month as Russia’s ninth-richest man with a fortune estimated at $10.4 billion (£5.2 billion).
Until the collapse of the Soviet Union, he had spent his career as a laboratory researcher in a state engineering company.
Soon afterwards he engineered Russia’s first successful hostile takeover, taking charge of the Vladimir Tractor Factory. He moved into aluminium plants and bauxite mines, creating a $1 billion company, Sual Holding.
However, his career as an oligarch really took off when he joined forces with Mikhail Fridman’s Alfa Group to take control of the Tyumen Oil Company. The pair earned $6.75 billion in cash and shares when they merged the company with BP in 2003 in a $14 billion joint venture that was the largest deal in Russia at that time.
Mr Vekselberg now owns 22 per cent of the world’s largest aluminium producer after the merger this year of Sual’s assets with Glencore and Rusal, which is owned by his fellow Russian billionaire Oleg Deripaska.
Mr Vekselberg has sought to stay on the right side of the Kremlin by spending some of his vast fortune on bringing important cultural artefacts back to Russia. In 2004, he spent an estimated $90 million (£45 million) to buy nine Fabergé eggs from the Forbes family, saying that he was returning one of Russia’s “most revered treasures”.
Last September, he spent $1 million to return the Lowell House Bells from Harvard University to their original home at the Danilov Monastery in Moscow.
Mr Vekselberg also promised to pay for 17 replacement bells at Harvard.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
36-month car lease
on contract hire for
£359.99 plus VAT pm
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
c£100,000 + car, bonus & bens
Lord Search & Selection
Midlands
Competitive salary + NHS pens
The Council for Healthcare Regulatory Excellence (CHRE)
London
Not Specified
The Sheppard Trust
London
£31,842 – £38,378pa
Charity Commision
London, Liverpool or Taunton
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Book now & save over £100pp.
11 cool resorts, lowest prices... Early Booking offers 15 Nov.
20% off selected Azores holidays taken in October with Sunvil Discovery
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.