Andrey Melnichenko

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Andrey Melnichenko
Melnichenko Andrey.jpg
Born Andrey Igorevich Melnichenko
(1972-03-08) 8 March 1972 (age 42)
Gomel, Belarus
Residence Moscow, Russia
Nationality Russian
Alma mater Plekhanov Russian Economic University
Net worth Decrease $11.4 billion (March 2013)[1]
Spouse(s) Aleksandra Melnichenko

Andrey Igorevich Melnichenko (Russian: Андрей Игоревич Мельниченко, Belarusian: Андрэй Мельнічэнка, born 8 March 1972 in Gomel, Belarus) is a Russian businessman and billionaire.

With an estimated personal wealth of $11.4 billion, in 2014 he ranked 97th in the Forbes World’s billionaires list (9th in Russia).[2]

Career[edit]

Andrey Melnichenko graduated from Boarding School of the Specialized Education and Research Centre under the auspices of the Lomonosov Moscow State University, formerly known as the Boarding School at Kolmogorov Physics-and-Mathematics School #18.

Upon graduation, Andrey Melnichenko was admitted in the School of Physics at Moscow State University, later transferred to and graduated from the Plekhanov Russian University of Economics.[3]

In 1993, Andrey Melnichenko co-founded the MDM Bank which grew to become one of Russia’s largest private banks within ten years.[citation needed]

From 1993 to 1997, Andrey Melnichenko chaired the management board of MDM Bank.

In 1997, Andrey Melnichenko graduated from the Plekhanov Russian University of Economics as Finance and Credit major. He then bought out MDM Bank shares from his partners and became the sole shareholder of the Bank.

Between 2000 and 2001, Andrey Melnichenko co-founded the MDM Group comprising industrial assets including Siberian Coal Energy Company (“SUEK”) and Mineral and Chemical Company “EuroChem”.

From 2001 to 2005, he chaired MDM Bank's board of directors.[4]

Andrey Melnichenko also became one of the founders of Pipe and Metallurgic Company, Russia’s largest manufacturer and exporter of steel pipes.

In 2004, he sold his share in the transaction related to public placement of the company’s stock[5] with the London Stock Exchange;[4][4]

From 2001 to 2004, he was the president of the MDM Group.

From 2004 to 2007:, Andrey Melnichenko phased sale of all personally owned shares of MDM Bank to his MDM Group partner Sergei Popov, and focused on the development of industrial/mining assets.[4]

In 2007, Melnichenko acquired a stake of about 7% in the German competitor K+S, a potash and fertilizer producer based in the German town of Kassel. In 2008, Melnichenko increased his stake in K+S to about 15%.[6]

In 2011, he created the SGC on the basis of electricity assets of SUEK.

In 2013, Andrey Melnichenko became the primary shareholder of SUEK and SGC after he has bought his ex-partner shares. Andrey Melnichenko was non-concurrently elected to the Board of RAO UES of Russia and TMK.

Since 2007, Andrey Melnichenko has been part of the Bureau of the Board of Directors of the Russian Union of Industrialists and Entrepreneurs (RSPP).

Wealth[edit]

Dmitry Medvedev and Andrey Melnichenko

Once a noted member of the international elite "under 40" billionaire's club, Forbes magazine reported Melnichenko lost 80% of his personal fortune in 2009 as the value of his interests plummeted to $US1 billion.[7] In 2010, a year later, the magazine estimated Melnichenko's fortune at $US4.4 billion, indicating the value of Melnichenko overall worldwide holdings has substantially recovered.[citation needed]

In 2013 he ranks 56th in the Forbes World’s Billionaires list (#6 in Russia).[2]

Andrey Melnichenko's assets include:

  • Open Joint-Stock Company EuroChem: Russia's largest and one of the top world producers of mineral fertilizers (2012 earnings: RUR166.5bn). Andrey Melnichenko holds 92.2% of the company's shares.[8]
  • Open Joint Stock Siberian Coal Energy Company: the largest in Russia and one of the major coal-producing companies globally (2012 earnings: RUR175.2bn). Andrey Melnichenko holds 91.2% of the company's shares.[9]
  • OOO Siberian Generating Company: the leading electric power generating company in Siberia (2011 earnings: RUR52bn). Andrey Melnichenko holds 86.2% of the company's shares.

Andrey Melnichenko chairs Boards of Directors of EuroChem, OAO SUEK and OOO SGC.

Personal life[edit]

The Motor Yacht A designed by Philip Starck

Melnichenko's wife, Aleksandra Melnichenko, is a former Serbian model and pop singer.[10] They were married in the South of France in 2005.[11] Whitney Houston, Julio Iglesias and Christina Aguilera performed at the event.[12] Jennifer Lopez was paid £1 million to come to the UK in 2007 to play at Aleksandra's birthday party at their Ascot Estate.[11]

Andrey Melnichenko owns the Motor Yacht A, which was launched in the Summer of 2008 following a four year build. The yacht was designed by Philippe Starck and Martin Francis[13] and built at the Blohm + Voss shipbuilding yard near Hamburg, Germany.[14] Andrey Melnichenko is currently suing Dulux owner Akzo Nobel for $100 million claiming the paint company’s incompetence forced him to redecorate "A" as he argues the paint appeared to be ‘running’ and the coats began separating from each other causing ‘lines and sags.[15] Melnichenko also owns a Boeing 737 BBJ (registered M-YBBJ).[16]

Melnichenko has also taken legal action over the height of a sculpture he purchased for £423,000 claiming it was half the size he and his wife Aleksandra expected it to be. The sculpture is entitled Sonno Grande (Big Sleep) by Polish artist Igor Mitoraj and should have been over seven foot tall according to the Melnichenkos. The sculpture that was delivered was under four feet in height. Melnichenko sued through the Isle of Man based art company Hamilton Art Ltd, New York art dealer David Benrimon who supplied it. He was sued for £2.6 million in damages for breach of contract and fraud. Benrimon has reached a settlement with the Melnichenkos.[17]

Andrey Melnichenko and his wife Aleksandra Melnichenko own a $12.2 million penthouse in Central Park West New York. The apartment is over two floors with a roof terrace.[18]

The Melnichenkos also own a villa in Antibes known as Villa Altiar which was also the location for their wedding and features an extension designed by Filippo Cantoia and Phillipe Starck.[19] They also own Harewood Estate in Ascot, Surrey in the United Kingdom which has been valued at £24 million.[20]

See also[edit]

References[edit]

  1. ^ "Andrey Melnichenko - Forbes". Forbes. 
  2. ^ a b Biography Andrey Melnichenko, Forbes, March 2013
  3. ^ Biography Andrey Igorevich Melnichenko, Siberian Coal Energy Company
  4. ^ a b c d Euro am Sonntag, 26th April 2008
  5. ^ TMK-Group http://www.tmk-group.com/invest_faq.php#_-On_which_stock
  6. ^ Antonio Ligi, Stefanie Haxel, K+S Shares Rise as Russian Melnichenko Buys Stake (Update4), Bloomberg, September 14, 2007
  7. ^ "Youngest billionaires lose money". BBC News. March 11, 2009. 
  8. ^ "EuroChem Pre-reports Selected IFRS Financial Information for Q3 2010". Eurochen archives. November 18, 2010. 
  9. ^ Consolidated statement of comprehensive income page 48 http://www.suek.ru |url= missing title (help). 
  10. ^ Derek Blasberg, Smooth sailing: Aleksandra Melnichenko, Harper's Bazaar, November 16, 2011
  11. ^ a b "I'm buying you J-Lo's greatest hits - and paying her £1m to sing them". Daily Mail (London). 20 April 2007. 
  12. ^ Noon, Chris. Forbes http://www.forbes.com/2005/09/06/melnichenko-aguilera-billionaire-cx_cn_0906autofacescan01.html |url= missing title (help). 
  13. ^ Robert Franck, Baccarat Meets Bomb-Proof Glass on the High Seas, The Wall Street Journal, July 28, 2009
  14. ^ Motor Yacht, Super Yacht Times
  15. ^ Davies, Rob (2 October 2013). "Russian tycoon sues Dulux owners for £62 million over ‘botched paint job’ on his 391ft luxury yacht". Daily Mail (London). 
  16. ^ "M-YBBJ_NZAA_9372". Retrieved 12 March 2014. 
  17. ^ Kay, Richard (1 November 2013). "Billionaire oligarch suing Dulux for £62million now takes legal action over 'too small' statue he bought for £423,000". Daily Mail (London). 
  18. ^ http://www.bornrich.com/andrey-melnichenko.html
  19. ^ http://cote-dazur.in/starsonthecote.htm
  20. ^ http://www.express.co.uk/dayandnight/5905/Cut-price-Sunninghill-is-sold

External links[edit]