Oleg Deripaska
From Wikipedia, the free encyclopedia
Oleg Vladimirovich Deripaska (Russian: Олег Владимирович Дерипаска) (born January 2, 1968 in Dzerzhinsk) is a Russian billionaire, tycoon, and the Chairman of the Board of RUSAL, a Russian aluminium industry company. His holdings provide him effective control of Russia's profitable metals sector.
Deripaska is the sole owner of the Basic Element investment firm, which owns En+ Group, an energy and aluminium business which is the controlling shareholder of United Company RUSAL[1].
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[edit] Biography
[edit] Education and early career
Deripaska is of Belarusian origin and was born Dzerzhinsk, Nizhny Novgorod Oblast, but he grew up in Krasnodar krai. He graduated with honours in physics from M.V. Lomonosov Moscow State University in 1993 and in 1996 he earned an economics degree from the Plekhanov Russian Academy of Economics. He was general manager of Sayanogorsk Smelter (1994-1997) and held the post of president of Sibirsky Aluminium (1997-2001).
In 1999, Deripaska was awarded the Order of Friendship of Peoples by President Boris Yeltsin.
[edit] Later career
In 2008 his fortune was accumulated to about $28 billion making him the richest man in Russia. In 2005 he was included in the Sunday Times Rich List (on account of the time he spends living in the United Kingdom) with an estimated wealth of £4,375m, but was not listed in 2006. However, according to an August 2006 article in the New York Times, the Russian business newspaper Vedomosti has estimated Deripaska's total wealth at $14 billion, which, if true, would either make him Russia's richest man or possibly tied for the spot with fellow multibillionaire oligarch Roman Abramovich.[2]
Deripaska has a London home at 6 Belgrave Square, which was originally the town residence of the Dukes of Bedford. In September 2006, Deripaska was rumoured to be interested in buying Arsenal F.C. for £350m.[3] However, Arsenal subsequently denied these claims.[4]
He has also been linked to the Russian silver mining company Polymetal.[5][6]
A law suit against Oleg Deripaska was filed in the Commercial Court of the High Court in London on 24 November 2006 by Michael Cherney, who had introduced Deripaska to the metals business by making him his manager and then his partner. Cherney is seeking $3 billion, which, he claims, represents 20 per cent of Rusal's stock for which he has yet to be paid.
Sources in Moscow allege that Oleg Deripaska is behind a new Russian media campaign that is targeting Michael Cherney. They also allege that the campaign is designed to send a message to the latter: a new criminal investigation against Cherney may be initiated in Moscow as a retaliation for his suit against Deripaska.
In 2005, David and Simon Reuben pursued legal action against Oleg Deripaska for alleged breach of contract worth up to $300 Million, The dispute was settled out of court after Oleg Deripaska ageed to a substantial settlement with the billionaire brothers.
In April 2007 Deripaska acquired 30% (1.05 billion €) of Austrian STRABAG SE which is owned by Hans-Peter Haselsteiner. STRABAG SE is the 6th largest construction business in Europe. He also bought big stakes in the German construction company HOCHTIEF. Insider plans saying that he planing forging with his own Russian operations, his stakes of STRABAG and HOCHTIEF and new construction giant.
In May 2007, Magna International chairman Frank Stronach announced that Deripaska was becoming a strategic partner in Magna, bringing with him to Magna the resources necessary to place a competitive takeover bid for Chrysler. [7]
He is currently the richest person in Russia according to an April 18, 2008 FORBES magazine report "with a fortune of $28.6 billion -- $11.8 billion more than he was worth last year."[8]
It is reported in May 2008, Oleg Deripaska has shown an interest in purchasing a English Premier League Football Club, and has been strongly linked to purchasing West Bromwich Albion FC.
In June 2008, West Brom announced that they are looking for Serious Investors and/or buyer and The Daily Mirror stated that the move of Oleg Deripaska taking over is a possibility. However, Deripaska has made no indication that he is interested in buying West Brom.
