Oligarchs Assets

Igor Altushkin Assets: From Copper Industry to Madonna’s London Home $3.5B

Overview of Igor Altushkin

Igor Altushkin, a prominent figure in the Russian metals industry, is the founder and principal shareholder of the Russian Copper Company (RMK), ranking as the country’s third-largest copper producer.

Born on September 10, 1970, in Yekaterinburg, Russia, Altushkin is the main owner and chairman of the board of directors at RMK. Diverse Igor Altushkin assets, including a significant 20% stake in the Ural Bank for Reconstruction and Development, underscore his substantial influence.

As of March 2020, Altushkin’s net worth stood at $4.6 billion, placing him at the 452nd spot on the 2019 Forbes Billionaires list. Beyond the metals industry, he invests notably in zinc and copper-rich projects, such as those in Kazakhstan.

Altushkin’s impact extends to philanthropy, with investments in church construction and restoration in Russia’s Sverdlovsk region and Chechnya. Known as an “Orthodox billionaire” for his support of the Russian Orthodox Church, he resides in Yekaterinburg with his family.

Diverse Portfolio of Igor Altushkin Assets

Altushkin residence in London

Igor Altushkin’s London residence is an elegant three-story stucco house nestled in the Royal Borough of Kensington and Chelsea. Acquired from Madonna in 2000 for $7.4 million, this historic property, dating back to 1862, graces a prime location near London’s renowned museums, Hyde Park, Kensington Palace, and Kensington High Street.

While detailed information about the interior and exterior remains undisclosed, the residence undoubtedly occupies a prestigious spot in London, surrounded by cultural and recreational treasures

 Altushkin residence in London

Business Ventures and Investments

Igor Altushkin’s involvement in the metals industry

Igor Altushkin, a prominent Russian business executive in the metals industry, holds the distinction of being the founder and primary shareholder of the Russian Copper Company (RMK), ranking as the third-largest copper producer in Russia.

Altushkin has seamlessly integrated all facets of the metal industry into his business portfolio, covering mining, processing, and manufacturing. Additionally, he has diversified his interests by venturing into the zinc sector through an investment in a leading Russian zinc processing company.

As of March 2020, Forbes estimates Altushkin’s fortune at $4.6 billion. He not only serves as the main owner and chairman of the board of directors for the Russian Copper Company Ltd but also holds a substantial 20% stake in the Ural Bank for Reconstruction and Development.

Born in Yekaterinburg, Russia, Altushkin embarked on his career in the metal industry as a scrap metal trader, marking the inception of his successful journey in this dynamic sector.

Shareholding in the Ural Bank for Reconstruction and Development

Igor Altushkin holds a 20% stake in the Ural Bank for Reconstruction and Development (UBRD)5. UBRD stands as the largest bank in Russia’s Ural region, securing a spot among the top 25 commercial banks in the country, according to the Bank of Russia5. The bank offers a comprehensive range of financial services, catering to both legal entities and individuals. These services encompass loans, deposits, cash management, transfers, payments, and remote account access.

With over 550 branches spanning 67 regions of Russia, UBRD boasts a workforce of over 6,000 employees. In February 2022, shareholders injected 3 billion rubles into the bank’s capital, a move aimed at propelling business development, expanding lending capabilities, and fortifying overall reliability and stability. In the past year alone, UBRD garnered 6.2 billion rubles from shareholders, pushing its equity beyond 20 billion rubles by the end of February 20221.

Altushkin’s 20% ownership in UBRD is just one facet of his diverse business portfolio, which also includes the Russian Copper Company (RMK), ranking as Russia’s third-largest copper producer.

Financial Profile

Net worth estimation as of March 2020 ($4.6 billion)

As of March 2020, Forbes estimated Igor Altushkin’s net worth at $4.6 billion. His wealth primarily stems from the metals industry, where he serves as the founder and largest shareholder of the Russian Copper Company (RMK), ranking as Russia’s third-largest copper producer. Additionally, Altushkin holds a 20% stake in the Ural Bank for Reconstruction and Development, the largest bank in the Ural region of Russia.

While Altushkin’s net worth has experienced fluctuations over the years, it has consistently grown since the early 2010s.

Sports Promotion

Co-founding RCC Boxing Promotions

Igor Altushkin, co-founder of RCC Boxing Promotions through his company RMK in 2016, aimed to organize and host combat sports and boxing matches. Previously known as Titov Boxing Promotion, RCC Boxing Promotions operates in the Ural Mountains, actively engaging in the coordination of diverse boxing events. Altushkin’s commitment to this initiative highlights his keen interest and investment in the sports sector, with a specific focus on promoting boxing and combat sports, contributing significantly to their development in the region.

Social and Philanthropic Activities

Igor Altushkin is deeply committed to philanthropy, actively supporting initiatives in education, healthcare, environmental conservation, and social welfare.

He plays a pivotal role in various social development initiatives, serving on the board of the Gorny National University of Mineral Resources and actively participating in the Sverdlovsk Regional Union of Industrialists and Entrepreneurs.

Through his company’s charitable foundation, Altushkin extends financial backing to orphaned children, those facing severe illnesses, and families in need. His dedication to helping others has inspired the establishment of charitable foundations focused on healthcare, education, and social welfare.

Altushkin’s altruistic efforts have garnered recognition, with accolades such as the Order of Friendship and the Order of Alexander Nevsky, highlighting his significant contributions to both the Russian business landscape and society.

Adding new information regularly

Alexander Harris

Alexander Harris began his career as a journalist. He is one of the founders of the " Russian Oligarchs Tracker Unit ".

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