Alexey Mordashov (Aleksei Mordashov) began to build up his fortune while working in the Cherepotsky metallurgical plant, now called Severstal when the old director advised him to buy shares in the plant. He followed the director’s advice and bought most of Severstals shares from the majority of his workers. By the year 2000, Severstals produced 15.7 million tonnes of steel, making it the largest steel producer in Russia and the second largest in Europe.
The company earned $14.1 billion in 2012 and $9.5 billion in 2013, compared with $7.2 billion the previous year.
Mordashev diversified his investment across many industries, including oil and gas and pharmaceutical sector. In 2013, Forbes estimated his net worth at $10.5 billion, making him the 18th richest person in the world. In 2014, he had a net worth of $24.7 billion, and in 2013 and 2014, the total income of more than $1.4 billion. That makes him one of Russia’s richest men and the third richest man in Europe.
EARLY LIFE AND EDUCATION
Alexey Mordashov was born in 1965 in Cherepovets, Vologda Oblast, Russia, and his parents worked in a mill. In any case, he graduated from the Leningrad Institute of Engineering and Economics, known as ENGECON. In 2001 he received an MBA from Northumbria University in England and a B.A. in Economics from Moscow State University in 2004.
FROM ACCOUNTANT TO GENERAL DIRECTOR OF SEVERSTAL
Alexey Mordashov started working as an accountant in the steel mill in his hometown in 1988 and became General Manager of Severstal in 1996. When the company was privatised and transformed into Severstal Aktiengesellschaft, he also bought shares in other steel companies.
Severstal has been one of the most successful steel companies in the world for over 20 years, with a market capitalisation of over $1.5 billion.
Mordaschow has built Severstal into one of the most successful steel companies in the world with a market capitalization of more than $1.5 billion and more than 100,000 employees.
It was rumoured that Mordazov’s Nordgold was in talks to buy parts of Süleyman Kerimov’s poly metals, but that never happened. At the time of his demise, NordGold had a market capitalisation of over $1.5 billion and 1,000 employees. NordGold itself had a turnover of less than 1% of total Russian gold production, with a turnover of more than half.
SEVERSTAL GROUP
Severstal Group is considered then Alexey Mordashov’s investment arm, and in 2013 he worked with Yuri Kovalchuk to create Russia’s first NHL team, the St. Louis Blues. Mordashov is a member of the board of Severstal Group, one of Russia’s largest private equity firms.
Alexei Mordashyov helped finance the construction of the world’s first nuclear power plant in the Soviet Union, the Chernobyl nuclear power plant. Mordazov was also responsible for the development of nuclear reactors in Russia, Belarus, Kazakhstan and Ukraine.
PHILANTHROPY AND PUBLIC SERVICE
Alexey Mordashov is an avid fan of art and sport and a member of the Russian Academy of Arts and Sciences and an active participant in the Sochi Winter Olympics.
Mordazov is a member of many economic organizations that contribute to the Russian economy and business planning. Mordazov has also helped homeless children through the Road Back Home charity and is an active participant in the development of the Sochi Winter Olympics and other sporting events.
