Overview of Iskander Makhmudov
Iskander Makhmudov, an Uzbek-born Russian entrepreneur, was born on December 5, 1963, in Bukhara, Uzbekistan. He currently serves as the President and Founder of the Ural Mining and Metallurgical Company (UMMC).
As of May 25, 2021, the Bloomberg Billionaires Index estimated Makhmudov’s net worth at a substantial US$9.41 billion. Beyond his business pursuits, Iskander Makhmudov assets are notable for his philanthropic contributions, actively supporting various charitable initiatives.
Makhmudov’s professional journey commenced with roles in various Soviet military organizations in Libya and Iraq. Over time, he emerged as the primary owner of Uralskaya Gorno-Metallurgicheskaya Kompaniya (UGMK) Holding, a company he co-founded with the support of his childhood friend, Jalol.
Diverse Portfolio of Iskander Makhmudov Assets
Ural Mining and Metallurgical Company (UMMC)
Iskander Makhmudov serves as the President and Founder of the Ural Mining and Metallurgical Company (UMMC), a prominent Russian metallurgical firm located in Verkhnyaya Pyshma. Established in 1999, UMMC holds the position of the second-largest copper producer in Russia and is active in both mining and manufacturing.
With a network spanning over 40 companies and a workforce exceeding 80,000 professionals across various Russian regions, UMMC engages in the mining and metallurgy of non-ferrous metals, coupled with mechanical manufacturing. Covering the entire copper value chain, the company participates in extraction and extends its operations to the production of finished goods.
UMMC stands out as a diversified producer of copper, zinc, gold, and coal, boasting its rail and port infrastructure for global market reach. Under Makhmudov’s leadership, the company has witnessed substantial growth, solidifying its success in the Russian industrial landscape.
The Trans-World Group, founded by David and Simon Reuben, is a global organization dedicated to fostering innovation and investing in groundbreaking projects. Initially, it operated as an association of commodities traders, holding significant stakes in many of Russia’s aluminum smelters.
Despite its promising beginnings, the company faced allegations of engaging in illegal activities, including alleged involvement in various murders. In 1997, the Russian police and the National Criminal Intelligence Service of Britain launched an investigation into the company. However, no charges were ultimately brought against Trans-World Group.
As the late 1990s unfolded, the organization found itself under pressure from Russian financial groups, leading to a loss of control over some of its holdings. This marked a significant shift in the company’s trajectory, highlighting the challenges it encountered and the subsequent impact on its control and operations.
Izdatelskiy Dom Rodionova (Rodionov Publishing House)
Rodionov Publishing House (Russian: Издательский дом Родионова) was a prominent Moscow-based publishing house that held a leading position among monthly business and financial publications in Russia from 1999 to 2009. Founded by Sergey S. Rodionov and his father, the company underwent significant changes in 2004 when Iskander Makhmudov and Andrey Bokarev acquired a 50% stake.
Evgeny Dodolev served as the CEO from 2005 to 2009, overseeing the publication of various magazines, including Politburo (closed January 2004) and Paradox (closed July 2004). Among its notable titles was Kariera (The Career), the premier magazine in the career development arena in 1998. Additionally, Rodionov Publishing House expanded its reach by licensing Profil magazine in Ukraine and acquiring Domovoy, the first glossy magazine in Russia, in 2005.
Despite its earlier success, the company faced challenges and eventually became defunct in 2017. The legacy of Rodionov Publishing House remains embedded in its significant contributions to the Russian media landscape during its active years.
Iskander Makhmudov holds a 17.5% stake in Aeroexpress, a company facilitating rail transportation services connecting Moscow with nearby airports. Established in 2005, Aeroexpress is jointly owned by Russian Railways, TransGroup AS, Iskander Makhmudov, and Andrei Bokarev.
The company operates 19 trains, completing a total of 200 journeys daily and having served 70 million passengers by October 2012. Aeroexpress prioritizes enhancing passenger experience by focusing on factors like comfort, reducing service intervals, streamlining payment and booking processes, and overall improving travel convenience.
Notably, in July 2012, Aeroexpress initiated a regular train route linking Vladivostok and Vladivostok. Subsequently, in May 2013, an Aeroexpress connection was established between Kazan and Kazan International Airport, boasting a brief 20-minute travel duration.
What is Iskander Makhmudov’s net worth?
Iskander Makhmudov‘s net worth varies across multiple sources. According to Forbes Real Time Net Worth, it stood at $6.8 billion as of December 3, 2023. However, the Bloomberg Billionaires Index reported a higher figure, estimating his net worth at US$9.41 billion as of May 25, 2021. Celebritynetworth.com states his net worth as $10 billion, while richestrussian.com mentions it as $6.6 billion. Consequently, Iskander Makhmudov’s net worth is estimated to range between $6.6 billion and $10 billion, depending on the source.
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