Overview of Alexander Svetakov
Alexander Alexandrovich Svetakov, born on February 15, 1968, is a distinguished Russian billionaire, renowned property developer, and the founder and chairman of Absolut Group. He earned a BA in engineering from the Moscow Institute of Electronic Machine Building (MIEM), marking the beginning of an illustrious journey.
Svetakov’s career highlights include founding Absolute Trade House (Absolute LLP), the largest electronics wholesaler in Russia, and successfully selling Absolute Bank in 2007. Beyond business, he is a philanthropist, having established the Absolute-Help Foundation in 2002, dedicated to supporting orphans, children with disabilities, and those facing grave illnesses.
As of 2023, the financial prowess encapsulated in Alexander Svetakov assets is estimated at a substantial $4 billion. Apart from his business acumen and philanthropy, Svetakov is renowned for owning opulent assets, including the prestigious yacht Cloudbreak and a Gulfstream G650 private jet. Additionally, he owns opulent mansions in Barvikha and Moscow, as well as sizable landholdings in the Moscow region.
Svetakov’s entrepreneurial spirit spans diverse sectors, including real estate, banking, and even caviar extraction. The Absolute Group, under his leadership, strategically invests in a broad spectrum of economic fields—ranging from real estate and banks to gold and coal mining, seaports, food production, metals, asset management, and insurance.
Noteworthy as both a business magnate and a compassionate individual, Svetakov’s philanthropic legacy endures through the Absolut Help Foundation, providing crucial support to children with disabilities and orphans. In the tapestry of his success, the term Alexander Svetakov assets encapsulates not only his financial wealth but also the diverse and impactful holdings amassed over his illustrious career.
Diverse Portfolio of Alexander Svetakov assets
Alexander Svetakov, the Russian billionaire and visionary behind Absolut Group, boasts a diverse array of assets and business ventures. His investments traverse a multitude of sectors, spanning real estate, banking, caviar extraction, insurance, and media. Noteworthy among his possessions is the opulent Cloudbreak yacht, appraised at $200 million, alongside a Gulfstream G650 private jet. Beyond these luxuries, Svetakov has ventured into the casino industry and holds substantial stakes in the NorthEast Company and Absolute Insurance.
Diversifying his portfolio over the years, Svetakov has extended his interests across an extensive range of economic sectors, encompassing real estate, banks, gold mining, coal mining, seaports, food production, and metals. Svetakov’s dedication to philanthropy, which complements his business acumen, is evident in the establishment of the Absolute Help Foundation. This foundation focuses on aiding orphans, children with disabilities, and those facing grave illnesses.
Svetakov’s active involvement in banking, investments, and real estate, among other ventures, highlights his extraordinary journey from a modest background to billionaire status. His enduring commitment to diverse industries and philanthropy sets him apart as a formidable figure in the business landscape.
Founding Absolute Trade House (Absolute LLP), Russia’s largest electronics wholesaler (1990s)
Alexander Svetakov, founder of Absolut Group, launched his career in the 1990s with the establishment of Absolute Trade House (Absolute LLP). This endeavor quickly became Russia’s leading electronics wholesaler, boasting a $2 billion turnover. Svetakov, along with his fellow students Gleb Galin and Andrew Truskov from the Moscow Institute of Electronic Machine Building (MIEM), where he earned a BA in engineering, co-founded the company.
Absolute Trade House originated with Svetakov, Galin, and Truskov identifying the burgeoning demand for electronics, computers, and home appliances. They initiated the importation of electronics from Singapore, laying the foundation for the Absolute Trade House, which ultimately evolved into Russia’s largest electronics wholesaler.
Building on the triumph of the Absolute Trade House, Svetakov and his partners ventured into the financial sector, establishing Absolute Bank in 1993. In 2007, Svetakov successfully sold Absolute Bank to a Belgian group for nearly $1 billion. Subsequently, he redirected his focus toward property development and diversified his interests across various sectors, including real estate, banking, investments, and philanthropy.
Establishment and subsequent sale of Absolute Bank in 2007.
In 1993, Alexander Svetakov co-founded Absolute Bank, which later became one of Russia’s largest financial institutions. The KBC Group, a major European financial entity, acquired 95% of the bank’s equity in 2007, signaling a significant shift in ownership.
Svetakov’s foray into banking was just one facet of his diverse business ventures. He also founded Absolute Trade House (Absolute LLP), Russia’s premier electronics wholesaler, in 1990. This venture quickly emerged as a pioneer in the wholesale market for household appliances, boasting a $2 billion turnover.
Svetakov’s entrepreneurial journey commenced during his student years at the Moscow Institute of Electronic Machine Building (MIEM). Recognizing the demand for electronics, computers, and home appliances, he and his partners established Absolute Trade House, eventually becoming the largest electronics wholesaler in Russia.
After the sale of Absolute Bank, Svetakov redirected his focus to property development and diversified his business across sectors such as real estate, banks, gold and coal mining, seaports, food production, metals, asset management, and insurance. His Absolute Group stands as one of the foremost landowners in the greater Moscow region, overseeing the development of approximately 20,000 hectares of Russian land.
Svetakov’s entrepreneurial pursuits span a spectrum of industries, underscoring his diverse portfolio and strategic investments across various sectors.
The broad spectrum of investments, includes real estate, banking, gold and coal mining, seaports, food production, metals, asset management, and insurance.
Alexander Svetakov’s Absolute Group boasts a diverse investment portfolio spanning real estate, banking, gold and coal mining, seaports, food production, metals, asset management, and insurance. Notably, Absolute Investment Group, established in 1990, manages some of these investments and stands as a prominent real estate development company in Russia, offering homes across different price ranges and conditions, from fixer-uppers to executive residences.
In the banking realm, Svetakov’s co-founded venture, Absolute Bank, emerged as a major financial player in Russia until its 2007 acquisition by the KBC Group, securing the 25th position among Russian banks in terms of assets.
While details on Svetakov’s involvement in the insurance sector are not explicitly outlined in available sources, it’s plausible that Absolute Group holds interests in insurance, considering KBC Group’s dual focus on banking and insurance assets across diverse nations. Forbes has also highlighted the robust standing of Absolute Group’s real estate development projects.
In essence, Alexander Svetakov’s Absolute Group strategically diversifies its investments, demonstrating a broad vision across industries, including real estate, banking, mining, seaports, food production, metals, asset management, and potentially insurance. This comprehensive approach underscores Svetakov’s business acumen in navigating varied sectors.
Ownership and development of 20,000 hectares of Russian land by Absolute Group.
Alexander Svetakov’s Absolute Group possesses and cultivates approximately 20,000 hectares of Russian land. This substantial landholding empowers the company to diversify its investments across various sectors, including real estate, banking, gold and coal mining, seaports, food production, metals, asset management, and insurance.
Notably, Absolute Group has successfully developed over 9 million square meters of residential and commercial rental properties. Some of these projects specifically aim to offer affordable housing in the vicinity of Moscow. The company’s strategic land acquisitions and property development endeavors have played a pivotal role in its accomplishments within the Russian real estate market.
Cloudbreak, a $200 million luxury yacht
Alexander Svetakov, the creator of Absolut Investment Group, possesses the opulent Cloudbreak yacht, valued at $200 million. Constructed in 2016 by Abeking & Rasmussen, Cloudbreak is a 75-meter expedition yacht that comfortably accommodates up to 12 guests in 6 suites. The Christian Liaigre-designed yacht has a helipad, spa, underwater lights, beach club, and gym.
For those seeking a luxurious experience, Cloudbreak is available for charter, with weekly rates starting at €750,000 in the low season and €750,000 in the high season.
Cloudbreak, a 75.3-meter expedition yacht crafted by Abeking & Rasmussen in 2016, epitomizes long-range exploration. Welcoming up to 12 guests in 6 suites, the vessel boasts interior design by Christian Liaigre. Among its highlights are a helipad, spa, underwater lights, beach club, gym, and a captivating fireplace. Known for cutting-edge elements, such as a commercial-grade superyacht helideck, a dedicated ski room, and the most extensive toy chest ever built, Cloudbreak delivers a high-tech maritime experience.
The yacht derives its name from a famed surfing locale in Fiji, mirroring the owner’s adventurous spirit. Open for charter, Cloudbreak seamlessly combines luxury and convivial spaces, ensuring a genuine long-range exploration. Manned by a skilled crew, it offers diverse experiences, from a beach club and deck jacuzzi to easy travel to and from land with its helipad.
Cloudbreak’s interior design creates a comforting ambiance, with amenities tailored for relaxation, fitness, and entertainment. With its impressive features and design, Cloudbreak stands as the epitome of luxury and adventure on the open seas.
Gulfstream G650 private jet
Alexander Svetakov owns the Gulfstream G650, a spacious and high-performing private jet crafted by Gulfstream Aerospace, designated as the Gulfstream GVI. This jet, renowned for its speed and range, can accommodate 11 to 18 passengers. Initially the fastest in Gulfstream’s lineup, the G650 has been outpaced by the larger G700.
The G650ER, an extended-range variant, covers 7,500 nautical miles (13,890 km) at Mach 0.85 with eight passengers. Its cabin is tailored for utmost comfort, boasting up to four living areas for work, dining, entertainment, and relaxation. Enhancing the experience are 16 large panoramic windows, allowing natural light to flood in and offering breathtaking views. Handcrafted seats by Gulfstream, strategically placed by windows, invite passengers to settle in for a serene journey. Notably, the G650 features one of the quietest cabins in business aviation, providing a tranquil environment for relaxation.
In summary, the Gulfstream G650 stands as a pinnacle in private jet travel, marrying high-performance with luxury. Catering to the preferences of high-net-worth individuals and business executives, it combines speed, range, and comfort for an unparalleled travel experience.
Extensive landholdings in the Moscow region
Alexander Svetakov’s Absolute Group commands a sprawling 20,000 hectares of land, strategically located in Naro-Fominsk, Sergiev Posad, and Podolsk districts within the Moscow region. The group’s investments span diverse sectors, including real estate, banking, gold and coal mining, seaports, food production, metals, asset management, and insurance. Operating under its real estate arm, ABS Realty, Absolute Group has acquired numerous Soviet collective farms, solidifying its status as one of the largest landowners in greater Moscow.
Continually expanding its portfolio, the company has amassed over 9 million square meters of residential and commercial rental units. Notably, some housing projects aim to address the demand for affordable living around Moscow. This strategic landholding and proactive property development firmly establish Absolute Group as a key player in the Russian real estate landscape.
Real Estate Holdings
Ownership of luxury mansions in Barvikha and Moscow
Alexander Svetakov, the founder of Absolut Group, possesses upscale residences in Barvikha and Moscow. Barvikha, an esteemed village near Moscow, is renowned for its opulent homes, exclusive boutiques, gourmet dining, and private clubs.
This village boasts some of the most stunning luxury properties, ensuring a premium lifestyle with access to various amenities and services. Notably, the Barvikha Hotel & Spa offers spacious guest rooms adorned with natural finishing materials and a soothing palette of warm tones.
Svetakov’s Absolut Group has diversified its investments across numerous economic sectors, including real estate. As a result, it has emerged as one of the foremost landowners in the greater Moscow region, holding around 20,000 hectares of land across districts like Naro-Fominsk, Sergiev Posad, and Podolsk.
By continuously expanding its land portfolio and property development, the group has amassed over 9 million square meters of residential and commercial rental units. This includes housing projects aimed at providing affordable living options around Moscow.
Svetakov’s varied real estate ventures and strategic property development initiatives have solidified his significant presence in the Russian real estate market, showcasing his astute approach to business and investment.
Adding new information regularly…