Andrey Melnichenko Biography

Biography and facts

Andrey Melnichenko studied at the Physics Department of Moscow State University. At that time the future billionaire lived in the university's dormitory and organized a currency exchange office in the main building of Moscow State University. Over time, it turned into a whole network, on the basis of which MDM-Bank was created.

In 1997, Melnichenko met Sergei Popov at the gym. "We had complementary qualities. It was easy and simple for us to understand each other," Melnichenko later explained his decision. In 2000, Melnichenko and Popov became equal partners with MDM Group, which in 2000-2002 acquired a number of production assets, creating SUEK, Pipe Metallurgical Company (TMK) and Eurochem on their basis. Total investments amounted to $1 bln. Later on, the Siberian Generating Company was founded on the basis of SUEK energy assets.

In 2004, Dmitry Pumpyanskiy became the third shareholder of the company. Melnichenko left TMK in 2006 during the company's IPO. In 2004 the MDM group was liquidated. By 2007 the partners split the business, Melnichenko became the main owner of the industrial assets, and Popov got MDM Bank. On the basis of industrial assets were created "Eurochem" and SUEK, the beneficiary of which he was until March 9, 2022.

Capital of SUEK, Eurochem (as of February 24, 2022).

Partner Vladimir Rashevsky, head of Eurochem Group and 7.8% owner of SUEK (as of February 24, 2022)

Transaction In August 2019, Eurochem bought a 10% stake in the company from its former head, Dmitry Strezhnev, for $785 million.

EU and UK sanctions, March 2022.

The figure is $7.8 billion Eurochem has invested in potash projects in Perm Krai and Volgograd Oblast, as well as new ammonia and urea projects in Kingisepp (Leningrad Oblast), with nearly $700 million of that in 2021.

Event In March 2019, Donalink Ltd, an offshore holding company that owns Melnichenko's minority stakes in various companies, in particular Far Eastern Energy Company, changed its registration address from Cyprus to Russky Island.

In 2020 Melnichenko's structures and Rusgidro exchanged assets - his holding Donalink gave up 41.98% of shares in Far Eastern Energy Company and in exchange received Luchegorsk coal strip mine and Primorskaya State District Power Plant.

Taxes According to Forbes, Melnichenko is not a tax resident of Russia. "He literally lives on his boat," said his acquaintance.

A collection of Impressionist paintings.

Melnichenko owns the motor yacht "A" with an estimated value of $255 million and the world's largest sailing yacht "A" ($425 million). The latter was detained in early March 2022 in Italy as part of the implementation of EU sanctions.

Impact Over the last 10 years, SUEK has invested more than $1.3 billion in modern environmental technologies for coal production and transportation, heat and electricity generation. Another asset ( as of February 24, 2022), fertilizer producer Eurochem, has reduced specific air emissions by 30% since 2006, to an average of 0.84 kg per 1 ton of production. Melnichenko's companies have invested some $500 mln in social and charitable projects; for example, they finance the foundation named after him, which supports talented children mostly in natural and exact sciences, opens free educational centers (there are some in eight cities at present), holds a large-scale scientific competition for schoolchildren, and supports a number of educational projects. Among the most recent, for example, are the Mendeleev Chemistry Olympiad and a chess festival.


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