Vladimir Potanin’s Impressive Net Worth of $12 Billion

The net worth of Vladimir Potanin is a staggering $12 Billion

The Background of Vladimir Potanin

Vladimir Potanin was being born in Moscow, Russia on 3 January 1961. He was born to prominent communist party members, particularly in the Ministry for Foreign Trade. He is recognized by Forbes magazine as the wealthiest person in Russia and the 60th richest individual globally in 2015.

Vladimir Potanin’s net worth is estimated to be over $15 billion according to Forbes, with the majority of his wealth being amassed using the controversial method of loans-for-shares, prevalent in Russia after the perestroika in the 1990s.

Breaking Down the $15 Billion Net Worth

Vladimir Potanin pursued his studies in the faculty of International Economic Relations at Moscow State Institute of International Relations, completing his education in 1983. This equipped him for a career in foreign affairs and trade, following in his father’s footsteps. During the perestroika era, he co-founded Uneximbank with his partner Mikhail Prokhorov. This venture served as the foundation for the establishment of the holding company Interros, which currently holds a 30% stake in and controls the nickel giant Norilsk Nickel, Alamak Espana Trade, Alisher Usmanov’s Metalloinvest, and the oil company Sidanco, acquired through the controversial “loans-for-shares” privatization auctions.

Potanin has held various significant positions contributing to his net worth. In 1993, he became the President of United Export Import Bank. He briefly served as the First Deputy Prime Minister of the Russian Federation. However, his most impactful role on his net worth has been as the President and Chairman of the Board of Directors of the Interros Company since 1998.

Beyond his business pursuits, Vladimir Potanin has extended his influence and interests. He was appointed to the Board of Trustees of the Solomon R. Guggenheim Foundation in 2001 and in 2003, he was elected as the Chairman of the Board of Trustees of the State Hermitage, one of the most renowned Russian art museums.

Since 2003, Potanin has been responsible for improving legislative regulations, professional, and ethical standards of corporate governance in Russian companies through the National Council on Corporate Governance (NSKU). Additionally, since 2005, he has been a member of the Public Chamber of Russia.

In recognition of his cultural contributions, the French Ministry of Culture and Communications named him an Officer of the prestigious Order of Arts and Literature in 2007.

Potanin parted ways with Prokhorov in 2007, and he became the sole owner of Interros. During the financial crisis, he divested assets like his stake in Polyus Gold. Using personal and borrowed funds, he developed the Rosa Hutor ski resort, which was utilized for the 2014 Olympic Games in Sochi.

Privately, Potanin was married to Natalia from 1983 to 2014, with whom he has three children. He is currently married to Ekaterina, with whom he has a child. There has been a legal dispute wherein Natalia has sued for 50% of his assets, with Potanin offering her $140 million. Despite this, Potanin is well-regarded as a generous philanthropist. In 2013, he joined Bill Gates and Warren Buffett’s ‘Giving Pledge’, committing to donate the majority of his fortune to charitable causes.