In 2017, Andrey Melnichenko, a Russian manufacturer and philanthropist, was placed 89th on Forbes’ list of the world’s billionaires (9th in Russia). He is one of the country’s self-made business magnates, having laboriously risen to the top with his keen business acumen and skill sets. Melnichenko began his career in banking and finance but quickly moved on to establishing industries. After establishing the Siberian Coal Energy Company (SUEK), he acquired a share in the mining and chemical firm EuroChem. He also founded Siberian Generating Corporation, an energy generation company. Melnichenko currently holds approximately 90 percent of EuroChem’s shares and approximately 92,2 percent of SUEK’s and SGK’s shares, respectively. He holds the position of chairman of the strategy committee of EuroChem Group AG, SUEK Group, and SGK. His estimated personal wealth is $13.2 billion, making him the ninth richest person in Russia. Aside from business, Melnichenko is one of Russia’s most prominent humanitarian investors and philanthropists. Currently, he has invested over $16 billion in the economic and industrial sectors of Russia.
Youth and Early Life
Andrey Melnichenko was born in Gomel, Belarus on March 8, 1972. Born a Belorussian, he immigrated to Russia as a child.
Melnichenko completed his early education at the Specialized Education and Research Centre’s Boarding School. The center prepares students for entry into the best institutions in Russia.
Later, he studied in the School of Physics at Moscow State University but quickly changed to the Plekhanov Russian University of Economics, from which he graduated in 1997 with a Bachelor of Arts/Science in Finance Credit.
Andrey Melnichenko’s Career
Andrey Melnichenko began his career by operating a number of currency exchange booths in Moscow but quickly shifted his focus to banking and finance, where he excelled.
Melnichenko co-founded MDM Bank in 1993 and served as its chairman of the board until 1997. In 1997, he purchased his partners’ shares and became the institution’s sole shareholder. By 2003, MDM Bank was one of the largest private sector banks in Russia.
Melnichenko led MDM Bank’s board of directors from 2001 to 2005. Melnichenko co-founded the MDM Group in 2001, which included industrial assets that later became Siberian Coal Energy Company (SUEK) and mineral and chemical company EuroChem, therefore expanding the scope of his business. He also served as President of the MDM Group from 2001 until 2004.
In addition to coal and minerals, Melnichenko was a co-founder of TMK Pipe and Metallurgical Company. In a short period of time, it became the leading producer and exporter of steel pipes in Russia. Melnichenko sold his portion of the company’s shares on the London Stock Exchange later in 2004.
Melnichenko gradually transferred all of his shares in the MDM Bank to his close friend and business colleague Sergei Popov between 2004 and 2007. Although his decision was originally questioned, it was later revealed that he did so in order to focus on the growth of his industrial and energy businesses, including the fertilizer company EuroChem, the coal manufacturer SUEK, and the Siberian Generating Company (SGC).
Melnichenko founded the SGK in 2011. Two years later, he purchased all of his former partners’ shares to become the primary shareholder of SUEK and SGK. In addition, he presided over the Board of Directors of OJSC SUEK between March 2004 and April 2015.
Melnichenko now serves as Chairman of the Strategy Committee (non-executive director) of EuroChem Group AG and Chairman of the Strategy Committee of SUEK LTD. He is the most significant recipient of EuroChem, SUEK, and SGK.
Since 2007, Melnichenko has been a member of the Bureau of the Board of Directors of the Russian Union of Industrialists and Entrepreneurs (RSPP), in addition to his business endeavors. He also serves as the head of the Mining Commission.
His Major Opera
Andrey Melnichenko began his career in banking and finance, but it was his foundation in the chemical and metallurgical sectors that propelled him to the top of his field.
His EuroChem Company is not only Russia’s largest fertilizer manufacturer but also one of the top mineral fertilizer manufacturers in the world. In addition, his SUEK (Siberian Coal Energy Company) Group is the leading coal producer in Russia at the present time.
It is also considered among the top coal firms in the world. Melnichenko’s OOO Siberian Generating Company (SGK) has become the dominant Siberian electric power generator.
Awards & Achievements
In 2016, the President of Russia presented Andrey Melnichenko with a special award for ‘good actions’ and philanthropic acts.
Personal History and Legacy
Andrey Melnichenko married Aleksandra Melnichenko, a former model and pop singer, in the south of France in 2005.
Melnichenko, a self-made billionaire, has been in the spotlight for his lavish lifestyle and costly assets. He owns the M/Y A and S/Y A yachts. Philippe Starck is responsible for the design of both yachts. Moreover, he owns a Boeing 737 BBJ.
His expansive Antibes house, Villa Altair, also served as the location for his wedding. Additionally, the Melnichenkos own the Harewood Estate near Ascot, Berkshire, United Kingdom.
Melnichenko has a deep appreciation for the arts and culture, as evidenced by the Impressionist paintings that adorn his home and yacht. The collection includes paintings by the internationally known artist Claude Monet.
Estimated Net Worth
Andrey Melnichenko is a millionaire manufacturer and philanthropist from Russia. Andrey Melnichenko has a $21 billion net worth. Andrey Melnichenko has diverse economic interests, including coal and fertilizers. He is the principal recipient of EuroChem Group AG and SUEK JSC.