Alexei Kuzmichev Assets: From Alfa Group to Luxury Mansions and Yachts with $2.5 B fortune
Overview of Alexei Kuzmichev
Born in 1962 in Kirov, Russia, Alexey Viktorovich Kuzmichev, also known as Alexei Kuzmichev, is a prominent Russian businessman and a co-founder of both the LetterOne Group and the Alfa Group, which are the Alexei Kuzmichev Assets. Renowned for his engagements in diverse enterprises, including VimpelCom, Alfa-Bank, and X5 Retail Group, Kuzmichev played a pivotal role as a stakeholder in the TNK-BP energy venture, ultimately selling it to Rosneft for $2.5 billion in 2013. Forbes magazine has consistently ranked him among the world’s wealthiest individuals.
However, recent years have seen Kuzmichev entangled in legal challenges. The UK government imposed sanctions on him in 2022 concerning the Russo-Ukrainian War. Subsequently, in 2023, he faced detention in France on charges of alleged tax evasion, money laundering, and violating international sanctions. As part of these sanctions, French authorities seized two of his yachts, highlighting his connections to Russian President Vladimir Putin.
Forbes’ real-time tracker estimates Kuzmichev’s net worth at $6.4 billion, underscoring his financial standing despite legal tribulations. Undeterred, he maintains a prominent presence in the business arena, steering investments towards the telecoms, technology, and energy sectors through the LetterOne Group.
Diverse Portfolio of Alexei Kuzmichev Assets
Alexei Kuzmichev, a Russian billionaire and co-founder of Alfa Group, boasts a diverse portfolio of assets and investments. Key holdings in his expansive portfolio include:
- Alfa Group: Investing in diverse businesses globally, Alfa Group is a major player in Russia’s business landscape. Among its notable assets are X5, one of Russia’s leading retail groups, and investments in Vympelcom, a significant player in the cellphone and telecommunications sectors.
- TNK-BP: Kuzmichev played a pivotal role in selling his stakes in TNK-BP, a joint venture with partners Fridman and Khan. In 2013, their 50% stake was lucratively sold for $28 billion to Rosneft, a state-owned company, with Kuzmichev personally realizing $2.5 billion from the transaction.
- A1: Serving as the Chairman of A1, Kuzmichev guides this private equity firm with a diverse asset portfolio. Notable holdings include Formula Kino, BelMarket, and Nezavisimost, the largest Russian car sales company.
- BIN Group: As the majority shareholder of BIN Group, Kuzmichev oversees a diversified conglomerate with a range of business interests.
- Art and Philanthropy: Beyond business, Kuzmichev actively engages in international art and philanthropy. His participation in auctions and events reflects a commitment to supporting cultural and charitable causes.
Kuzmichev’s wealth of experience extends beyond the boardroom, encompassing a spectrum of industries and initiatives that underscore his influence in both the business and philanthropic realms.
Alfa Group
Kuzmichev’s partnership with Alfa Group
Alexei Kuzmichev, a notable figure in the Alfa Group, one of Russia’s premier financial and investment conglomerates, partnered with fellow billionaires Mikhail Fridman and German Khan. The group, a major player in the banking, retail, and oil sectors, engaged in diverse business ventures. Kuzmichev played a pivotal role in the group’s global trading operations, notably selling his stake in the energy venture TNK-BP to the state-run oil company Rosneft for $2.5 billion in 2013.
Kuzmichev’s collaboration within the Alfa Group stands as a cornerstone of his business achievements and financial standing. The group’s varied investments and activities have significantly contributed to Kuzmichev’s wealth and influential position in the business landscape.
TNK-BP venture and its sale to Rosneft for $2.5 billion
In 2013, Rosneft completed the acquisition of TNK-BP, a joint venture between BP and a group of Russian billionaires, including Mikhail Fridman, German Khan, Viktor Vekselberg, and Len Blavatnik. The deal involved several transactions, catapulting Rosneft to the position of the world’s largest listed oil producer. Here are the key details:
- Rosneft acquired BP’s 50% stake in TNK-BP for $16.65 billion in cash and 12.84% of Rosneft shares.
- BP received approximately $12.5 billion in cash and retained a 19.75% stake in Rosneft.
- The A.A.R. Consortium, representing BP’s former Russian partners, received a substantial $27.7 billion for their 50% stake in TNK-BP.
- The acquisition positioned Rosneft as the world’s largest listed oil company by output, boasting a production of over 4.5 million barrels per day.
- BP’s objective was to mend its strained relationship with Russian partners in TNK-BP by forging a new alliance with Rosneft.
- This monumental deal stands as the largest takeover in Russian history, signifying the resolution of BP’s tumultuous association with the TNK-BP billionaires.
- These details underscore the considerable financial and strategic implications of Rosneft’s TNK-BP acquisition, fundamentally reshaping the global oil industry landscape.
LetterOne Group
Kuzmichev as a founder
Alexei Kuzmichev, a key figure in the establishment of the LetterOne Group, an international investment business headquartered in Luxembourg, has played a pivotal role in shaping the group’s investment focus. The group, organized into L1 Energy and L1 Technology, concentrates its investments in the telecom, technology, and energy sectors.
Furthermore, Kuzmichev served as a partner in Alfa Group, an investment conglomerate he co-owned with fellow billionaires Mikhail Fridman and German Khan. The bulk of Kuzmichev’s wealth stems from his ventures within Alfa Group, a conglomerate involved in banking and retail. Notably, Kuzmichev, alongside his former college classmates Fridman and Khan, established and oversaw the operations of these companies.
These details underscore Kuzmichev’s influential contributions to both the founding and evolution of the LetterOne Group, as well as his significant role in the Alfa Group conglomerate.
X5 Retail Group
Alfa Group’s ownership of X5
Mikhail Fridman and Alexei Kuzmichev are the leaders of Alfa Group, a group of Russian oligarchs that owns a small stake in X5 Retail Group, Russia’s top retailer by revenue. The shareholder makeup of X5 Retail Group is as follows:
- CTF Holdings S.A.: 47.86%
- Intertrust Trustees Ltd (Axon Trust): 11.43%
- X5 directors: 0.10%
- Treasury shares: 0.01%
- Shareholders with less than 3%: 40.60%
In November 2021, X5 Group and Alfa Bank introduced a collaborative financial service named “X5 Bank,” with each entity possessing a 49.99% stake and “Alfa Investments” holding the remaining 0.02%. This venture aligns with X5 Group’s strategic goal of being involved in every aspect of the customer journey, from product to purchase.
VimpelCom
Alexei Kuzmichev, a Russian entrepreneur and co-founder of LetterOne Group, held a stake in VimpelCom, a telecommunications company based in Russia. Unfortunately, specific details regarding his stake in VimpelCom are not clearly stated in the search results. Kuzmichev’s active participation in several enterprises, such as Alfa Group and X5 Retail Group, has significantly contributed to his financial success and influence within the business realm.
Rosvodokanal
Alexei Kuzmichev, a Russian businessman and co-founder of the LetterOne Group, maintains a share in Rosvodokanal, a water and sewage company. As per the Spark-Interfax database, Kuzmichev possesses a 21.8% stake in Rosvodokanal. Additionally, Kuzmichev is a partner in the Alfa Group, which holds investments in diverse companies such as X5 Retail Group, Alfa-Bank, and VimpelCom.
A1 Group
Alexei Kuzmichev has chaired the Advisory Committee at A1 Group since 2009. Formerly known as Alfa Eco, A1 is a member of the Alfa Group, which Kuzmichev co-founded with Mikhail Fridman and German Khan. The group boasts diverse assets, including Formula Kino, BelMarket, and Nezavisimost—the largest Russian car sales company.
Kuzmichev, a former partner in Alfa Group, an investment conglomerate he shared with billionaires Fridman and Khan, garnered a significant portion of his fortune from investments in Alfa Group. The conglomerate had interests in banking and retail, as well as LetterOne.
Assets under A1, including Formula Kino, BelMarket, and Nezavisimost
As the Chairman of A1, Alexei Kuzmichev oversees a diverse portfolio that includes Formula Kino, BelMarket, and Nezavisimost—the largest Russian car sales company. A1, formerly known as Alfa Eco, is a component of the Alfa Group, which Kuzmichev co-founded with Mikhail Fridman and German Khan.
The Alfa Group, with global investments, spans various industries. Notable holdings include X5 Retail Group, one of Russia’s largest retail entities, and Vympelcom, a major player in the telecommunications sector. These assets underscore Kuzmichev’s pivotal role in steering a broad spectrum of investments and businesses within the A1 Group.
Real Estate Holdings
Kuzmichev’s luxury mansions in New York City and Paris
Alexei Kuzmichev possesses two opulent residences, one in New York City and the other in Paris. Let’s delve into the specifics:
New York City: Kuzmichev’s New York abode is a 10,090-square-foot, four-story townhouse situated at 33 East 74th Street, famously known as the “Atterbury Mansion.” Originally constructed in 1901 by the renowned architect Grosvenor Atterbury for banker Julian Wainwright Robbins and his wife Sarah, who happened to be Cornelius Vanderbilt’s niece, this mansion boasts a rich history.
In 2016, Kuzmichev acquired four floors of this architectural gem for $42 million. However, in 2022, he listed the quadruplex for $41 million. The residence itself features five bedrooms, five bathrooms, a parlor with 12-foot ceilings, an elevator, and a private terrace.
Paris: In Paris, Kuzmichev holds ownership of three properties situated in a spacious residential building located at 2 and 4 Rue de Solférino and 9 and 11 Quai Anatole. Regrettably, French authorities have frozen these properties as part of their sanctions against Kuzmichev.
Yacht Holdings
Kuzmichev’s luxury yachts
Alexei Kuzmichev, a Russian billionaire, owns several luxury yachts, some of which have been subject to legal issues and sanctions.
La Petite Ourse
Kuzmichev owns the opulent yacht “La Petite Ourse,” embroiled in legal disputes with French authorities. The vessel accommodates 10 guests and a crew of 5, boasting a cruising speed of 8 knots and a range exceeding 2000 nautical miles.
Little Bear I and Little Bear II
Kuzmichev’s 17-meter yacht, “Little Bear I,” valued at $22 million, faced confiscation in Cannes. Simultaneously, his second yacht, “Little Bear II,” worth almost $100 million, has encountered legal challenges leading to disputes and asset freezes.
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