Russian billionaire pays out to the proles

One of the richest men in Russia, oligarch Oleg Deripaska, has decided to distribute his £2m bonus among his best workers.

by Michael Northcott

Given the ostentatious displays of wealth by Russian oligarchs such as Roman Abramovich (who has three of the largest private yachts in the world), a bit of recognition for the little guy is not normally what you’d expect.

Oleg Deripaska is the chief executive of Rusal, the world’s biggest producer of aluminium: according to Forbes he’s worth around £5.6bn. So it’s not that surprising he isn’t too bothered about giving away the £2m bonus he earned from the company last year.

But instead of pocketing it or buying a new boat, he's putting the cash into a fund to buy shares in Rusal, which will then be awarded to 120 of the best factory workers throughout his company. That means each of them would receive an average of £16,600 in shares, although because it is not being split equally, some will get  more.

Sign in to continue

Sign in

Trouble signing in?

Reset password: Click here

Email: mtsupport@haymarket.com

Call: 020 8267 8121

Register

FREE

  • Up to 4 free articles a month
  • Free email bulletins

Register Now

Become a subscriber

From £66 a quarter

  • Full access to managementtoday.co.uk
  • Exclusive event discounts
  • Management Today's print magazine
  • Plus lots more, including our State of the Industry Report.

Choose a Package