How he made his pile - Leonard Blavatnik - Oil and metals magnate

Who is he? You may well ask. At 48, the oligarch is Britain's sixth-richest resident, and one of Londongrad's dozens of Russian billionaires. Worth £4.7 billion, he even outbid his compatriot Roman Abramovich for a £41 million pad in Kensington Palace Gardens.

by
Last Updated: 31 Aug 2010

How did he make his billions? At 21, a penniless Blavatnik left the Soviet Union for the US in 1978, taking an MBA at Harvard. Within a decade, he'd made a small fortune through his New York-based Access Industries and started acquiring Russian bargains. In 2003, he co-founded TNK-BP in a joint venture with the British energy giant and it's now Russia's third-largest oil firm. He also has interests in plastics, aluminium, telecoms and Kazakh coalmines.

The secret of his success? Blavatnik quickly saw the commercial potential of post-communist Russia. He has kept a low profile compared to other rich Russians - his US staff have said he doesn't even travel with bodyguards. Let's hope he has a sushi-taster.

Tags:
Enterprise

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Why collaborations fail

Collaboration needn’t be a dirty word.

How redundancies affect culture

There are ways of preventing 'survivor syndrome' derailing your recovery.

What they don't tell you about inclusive leadership

Briefing: Frances Frei was hired to fix Uber’s ‘bro culture’. Here’s her lesson for where...

Should you downsize the office?

Many businesses are preparing for a 'hybrid' workplace.

How to make your team more accountable

‘Do as I do’ works a lot better than ‘do as I say’.

Black talent isn’t hard to find: It’s just you

If you want to attract the widest range of applicants, you need to think about...