Early Life and Education
Anatoly Lomakin was born on June 30, 1952, in Grodno, Belarusian SSR. In 1975, he graduated from the Moscow State Institute of International Relations, marking the beginning of a journey that would see him rise to prominence in both the business and political spheres.
Soviet Career and International Ventures
In the 1980s, Anatoly Lomakin entered the professional arena, working within Soyuzpromexport and eventually serving as the director of the enterprise “Potassium VAO Agrokhimexport.” His international experience extended to the USSR Trade Representation in Denmark and later as the commercial director of Fershimex in Belgium from 1985 to 1989.
Entrepreneurship and the Birth of International Potash Company
In 1992, Lomakin founded the International Potash Company (IPC), a pivotal move that brought together major Russian potash fertilizer producers, including Belaruskali. The company initially focused on marketing products from Silvinit, Uralkali, and Belaruskali. By 1994, Anatoly Lomakin assumed the role of General Director at CJSC International Potash Company.
Details of Silvinit
Silvinit is a Russian company involved in the production of mineral fertilizers, with a focus on potassium chloride, potassium fertilizers, and salt. The company has two branches, one in Belarus and one in Germany, and operates through eight affiliated companies and eight subsidiaries.
Silvinit delivers its products to all regions of Russia and to over 50 countries worldwide, including Brazil, China, India, the United States, Southeast Asia, and Latin America. In December 2010, Uralkali announced plans to buy Silvinit for $7.8 billion in cash and shares.
The merger was approved in February 2011 and finalized in July of the same year. Together, they form one of the world’s largest potash producers. Silvinit is controlled by board members Pyotr Kondrashev and Anatoly Lomakin, who is also the chief executive of the company’s trader, International Potash.
Lomakin’s Strategic Moves
Lomakin’s involvement in the company establishes his connection to Silvinit. In 2010, Lomakin and his partners sold their stakes in Silvinit, Russia’s second-largest producer of potassium fertilizer, for roughly $3 billion.
He also founded the International Potash Company (MMK) in 1992 and was able to join Silvinit, a large Russian mineral fertilizer company, in a stunning business move.
Silvinit is controlled by board members Pyotr Kondrashev and Anatoly Lomakin, who was the chief executive of the company’s trader, International Potash.
International Potash Company (IPC)
The International Potash Company functions as a wholesale distributor specializing in potassium-based fertilizers, offering a range of products including standard, granular, and industrial-grade varieties. The company is actively engaged in the exploration and development of potassium sulphate minerals, catering to diverse industries.
In the realm of potash-related organizations, the International Potash Institute (IPI) stands out. Established in 1952, IPI operates as a non-governmental and non-profit entity with a distinct mission—to foster the development and promotion of balanced fertilization practices. The organization’s team comprises agronomists and soil scientists who advocate for the importance of balanced fertilization. They emphasize the crucial role of potash in enhancing yield performance, ensuring quality, promoting stress tolerance, and fostering sustainable value for farmers.
IPI goes beyond advocacy and actively organizing events and competitions. For instance, the 2020 IPI Photo Contest stands as a notable initiative, held in memory of their late colleague, Ricardo Melgar.
Another player in the potash industry is JSC IPC (International Potash Company). This entity expresses openness to potential partnerships with entrepreneurs and companies looking to enter the Russian market.
Adding to the landscape, there’s the International Potash Company (UK) Limited, a registered entity in the UK with information accessible on Companies House.
Shifts in Potash Market Dynamics
The early 2000s witnessed shifts in the dynamics of the potash market, with Uralkali and Belaruskali discontinuing services with MCC, alleging favouritism toward Silvinit. From 2005 onward, the International Potash Company exclusively exported Silvinit products, solidifying its presence in the industry.
Political Stint and Resignation
In August 2012, Anatoly Lomakin entered the political arena as a deputy of the State Duma of the VI convocation, representing the United Russia party. However, his political career was relatively short-lived, as he resigned in February 2013, citing health reasons. Notably, during his time in the State Duma, he played a role in the introduction of the “Dima Yakovlev Law.”
What is the Dima Yakovlev Law?
The Dima Yakovlev Law, also referred to as the anti-Magnitsky Law, is legislation enacted in Russia that imposes sanctions on American individuals involved in “violations of the human rights and freedoms of Russian citizens.”
Formally designated as Federal Law of December 28, 2012, No. 272-FZ, “On Sanctions for Individuals Violating Fundamental Human Rights and Freedoms of the Citizens of the Russian Federation,” this law establishes a roster of U.S. citizens barred from entering Russia and grants the government the authority to freeze their assets and investments.
Its inception was a response to the Magnitsky Act, which levied sanctions against Russian officials implicated in human rights abuses. The Dima Yakovlev Law additionally halts the operations of politically active non-profit organizations that receive funding from American entities.
Furthermore, it includes a provision prohibiting U.S. citizens from adopting Russian children, a measure that has sparked international controversy.
Wealth and Recognition
Anatoly Lomakin‘s business acumen contributed to his inclusion in Forbes magazine’s “Russia’s 200 Richest Businessmen” in 2011. In 2017, he ranked 62nd with a capital of $1.4 billion, showcasing the financial success derived from ventures like the International Potash Company.
Net Worth of Anatoly Lomakin
Anatoly Lomakin, a wealthy Russian entrepreneur, has amassed a significant fortune of $1.4 billion, mainly by establishing the International Potash Company (MMK) in 1992. In 2010, Lomakin and his business partners effectively sold their stake in Silvinit, which is the second-largest potassium fertilizer producer in Russia. This transaction resulted in a significant profit of $3 billion.
Lomakin presently possesses a 50% ownership interest in Investstroy, a company specializing in investments in the housing and residential property development sector. In 2012, Lomakin affiliated himself with Yedinaya Rossiya, the political party established by Vladimir Putin, and assumed the role of a deputy in Russia’s State Duma.
Throughout his political career, Anatoly Lomakin played a crucial role in the enactment of legislation that banned the adoption of Russian children by American citizens. In February 2013, he unexpectedly stepped down from his position, attributing it to health concerns, thus prematurely ending his political career.
|Net Worth (in billions)
Family and Personal Ventures
Anatoly Lomakin is a married individual with two children. His business portfolio extends beyond potash, as he owns 50% of Investstroy, a company involved in housing and residential property development. His involvement in various enterprises, including OJSC Uralkali, reflects a diverse investment strategy.
Academic and Philanthropic Contributions
Beyond his entrepreneurial pursuits, Anatoly Lomakin holds a Doctor of Economic Sciences degree. His dissertation, titled “Strategy for Increasing the Competitiveness of Potash Fertilizers in Russia and Belarus on the World Market,” reflects his commitment to academic pursuits. Additionally, he became a platinum donor to the MGIMO (U) Alumni Association Foundation.
Are there any controversies surrounding Anatoly Lomakin?
Share Theft Scandal at Silvinit
Anatoly Lomakin, a shareholder of the prominent Russian potash producer Silvinit, became the victim of a share theft amounting to 1.3 billion rubles. Unofficial reports suggested that during the summer, Lomakin’s shares were allegedly redeemed by the new owners of Silvinit, Zelimkhan Mutsoev and Anatoly Skurov.
According to sources, Lomakin’s ordeal began in June 2010 when approximately 0.6% of his Silvinit shares, valued at 1.3 billion rubles, were fraudulently stolen using a false passport. The perpetrators then attempted to sell the shares through brokerage firm BrokerCreditService. Lomakin only became aware of the theft when he received documents for an extraordinary general meeting on September 25, 2010, revealing the unauthorized removal of shares from his account.
Despite the severity of the situation, the Moscow Arbitration Court rejected Anatoly Lomakin‘s claim against Silvinit and its registrar. The court’s decision, dated December 10, 2010, left Lomakin seeking recovery from insurers, as the court refused to examine his claims against the company and its registrar.
Lomakin, who previously held approximately 0.6% of Silvinit’s shares, argued that the fraudulent actions of unknown individuals resulted in the removal of his shares from his personal account. He reported the theft on October 7, 2010, after discovering a significant reduction in the number of shares associated with his account.
Silvinit, the largest potash producer in Russia, faced a change in ownership in August 2010 when 47% of its shares were acquired by Zelimkhan Mutsoev and Anatoly Skurov. These shares were reportedly purchased from the former general directors Peter Kondrashov and Lomakin for approximately $2.5 billion.
Anatoly Lomakin estimated the damages at 1.3 billion rubles, based on closing prices at the time of the theft. Silvinit expressed its commitment to assisting Lomakin and law enforcement authorities in resolving the matter. Lomakin also filed a similar lawsuit in Perm, though it has yet to be considered.
Legal experts suggested that Lomakin might have a strong case for reimbursement, with the court possibly rejecting the claim due to procedural issues. However, some legal opinions differed, arguing that seeking the reinstatement of the shares and recognizing the sale as worthless might have been a more logical approach.
Anatoly Lomakin, born in 1952, is a prominent Russian entrepreneur with a diverse career spanning business and politics. After graduating in 1975, he worked in various Soviet enterprises and international roles. In 1992, he founded the International Potash Company (IPC), aligning with major Russian fertilizer producers like Belaruskali. IPC played a pivotal role in the merger of Silvinit and Uralkali, forming one of the world’s largest potash producers.
Lomakin entered politics in 2012 but resigned in 2013, citing health reasons. Notably, he was involved in enacting the controversial “Dima Yakovlev Law” in response to the Magnitsky Act. Forbes listed him among Russia’s richest businessmen, with a net worth of $1.4 billion. Anatoly Lomakin faced a share theft scandal at Silvinit, alleging a loss of 1.3 billion rubles, but legal outcomes were inconclusive. His ventures extend beyond potash, including housing development, reflecting a diverse investment strategy. Lomakin holds a Doctor of Economic Sciences degree and contributes to academic and philanthropic causes.