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VEKSELBERG, Victor Feliksovich

Businessman, Owner and President of Renova Group and head of Skolkovo Technology Park Viktor Vekselberg 06/22/2010

Viktor Vekselberg (Виктор Феликсович Вексельберг) was born April 14, 1957, in the town of Drogobych in the Lvov region of Ukraine. He amassed a large fortune in the metals and oil industries following the collapse of the Soviet Union and remains one of Russia’s richest men.

Vekselberg graduated in 1979 from the Moscow Railway Transport Engineering Institute, specializing in systems engineering. In the 1980s he worked as an engineer before moving into business in the late 1980s. In 1988 he founded KomVek, a research and production company, linked to the Irkutsk Aluminium Plant.

In 1990 alongside Leonard Blavatnik, he founded conglomerate Renova. Two thirds of the company’s shares were owned by KomVek and one third by Blavatnik’s investment fund Access Industries.

Having already accumulated assets in the aluminum industry, in 1996 Vekselberg was involved in the establishment of Siberia-Ural Aluminum (SUAL) which comprised Irkutsk and Ural Aluminum Plants. During the 1990s, SUAL acquired further aluminum plants and bauxite mines. Vekselberg was president of the company from 2000 to 2003.

Also beginning in 1996, Renova under Vekselberg’s management, began purchasing shares in oil companies. In September 1997, Vekselberg became a member of the board of directors of the Tyumen Oil Company (TNK) and was named chairman of the board in 1998. In this role he negotiated a 50-50 joint venture with British Petroleum and is currently a member of the board of directors and the vice-president of TNK-BP.

In March 2010 Russian President Dmitry Medvedev appointed Viktor Vekselberg as the head of the Russian section of the coordination council of the Innovation Center Project in Skolkovo.

In February 2004 Vekselberg purchased nine Faberge eggs from the Forbes family in a Sotheby’s auction. Along with the eggs, he purchased various other items of Faberge jewelry and sent them all back to Russia to be displayed at the Kremlin. Vekselberg also financed the return of the Lowell House Bells from Harvard University to the Danilov monastery in Moscow, their original home, in 2008.

Vekselberg is married and has two children. Forbes magazine ranked him as the 16th richest man in Russia in March 2010, with an estimated fortune of $ 6.4 billion.

Related links:

Renova Web site

Skolkovo Technology Park Web site


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