The richest Russian family clans – 2016
Forbes has been ranking the most successful business dynasties for the third year, assessing the value of their business in a manner that is used in the preparation of billionaires ranking. Compared with last year, combined wealth of the top ten increased by almost 40%, from $ 18 billion to $ 25 billion.
The main contribution to the overall result is made by the Gutseriev family (№1 in the list), its wealth has increased by two and a half times to $ 9.8 billion. Their BIN Group conducted transactions in amount of $ 1.5 billion: it bought banks, pension foundations, development and oil companies. The Gutserievs were taking their money from the reserves accumulated overseas. In addition, Mikhail Gutseriev has earned $ 700 million having realized an oil option. He, on the advice of the President of Sberbank German Gref, hedged against decreasing prices on time.
Another $ 2.4 billion in the common fund have contributed the newcomers – the Shamalovs father and son. Kirill Shamalov, whom the media called the son in law of the President Putin, in March 2016, for the first time appeared in the Forbes’ rating of billionaires. Then, his fortune was estimated at $ 1.2 billion. The basis of Shamalov Jr.’s wealth is the stake (21.3%) in the petrochemical company Sibur, the estimate of which since the preparation of the billionaires rating has increased by 40%. In general, as of the date of the rating of the richest families (20 July 2016), Kirill Shamalov’s wealth has almost doubled, by $ 1.1 billion.
The Rotenberg family, just like last year, got the second place. Their wealth, on the contrary, suffered a slight $ 150 million decrease, and went down to $ 2.8 billion. The infrastructure companies, which made the brothers billionaires, still are very cheap compared to pre-crisis levels.
1. The Gurserievs
The founder of the BIN Group Mikhail Gutseriev, by his own admission, has about 40 cousins and nephews, but only his younger brother Sait-Salam and his sister's son Mikhail Shishkhanov own shares in his business. Gutseriev’s real share in the oil companies RussNeft, Nephthys and others is 70%, and Shishkhanov and Sait-Salam own 15% of the shares each. Slightly more than the half of the remaining assets (Russky Ugol (Russian coal), finance and real estate) belongs to Gutseriev himself. Sait-Salam and Shishkhanov in respect of the most of the remaining 49% divided the shares equally. An exception is the BIN, where Shishkhanov has almost 60% of the shares, and Mikhail Gutseriev got only 39%.
The elder brother in the family Khamzat, according to Gutseriev, does not have to have a share of business: he is 61 years old Lieutenant General, the former Head of the Interior Ministry of Ingushetia, and he does not participate in the capital of the Group but in its profits.
Gutseriev’s son Said, on the contrary, formally owns shares, but does not actually participate in business. Said Gutseriev’s family owns 20% stake in the oil company Nephthys, the remaining 80% share belongs to his father (50% stake), Sait-Salam (15%) and Shishkhanov (15%). The shareholders and managers of the Orsk refinery, in the modernization of which Said is engaged since the end of 2014, also call him their shareholder. But this, according to Gutseriev, is a premature notion: his son must first demonstrate that he is capable of making results, and then the father will provide him with a share in the new oil company.
Today, the BIN Group includes four oil companies (except small-scale ones), the two major banks - BIN and MDM Bank, Financial Group Safmar which brought together several pension funds, retail, office and logistics centers, hotels and construction companies, eight radio stations, real estate abroad and three private aircrafts.
2. The Rotenbergs
Arkady Rotenberg’s family gathered a billionaire wealth thanks to the Gazprom contracts. The company Stroygazmontazh (SGM), which the brothers Arkady and Boris established in 2007, has become the largest contractor in the Russian oil and gas market. In the Forbes ranking of Kings of public procurement in 2016, Arkady Rotenberg (right now he owns 100% of SGM) took the first place: he got contracts from the state and state-owned companies for a total amount of 556 billion rubles, including the order of Gazprom for the pipeline Power of Siberia (198 billion rubles).
The Kerch bridge is also being built by the SGM. For this project 228 billion rubles from the budget will be allocated. His shares in the development company TPS Nedvizhimost and infrastructure companies Gazprom bureniye and TEK Mosenergo Arkady Rotenberg after the US and EU sanctions imposed on him in 2014, sold to his son Igor.
Arkady’s brother Boris, being a citizen of Finland got only under the US sanctions. He still owns stakes in TPS Nedvizhimost, Gazprom bureniye and TEK Mosenergo.
The Boris Rotenberg’s eldest son Roman in autumn of 2014, received the brothers’ common assets in Finland, but in the summer of 2015, he found himself under the US sanctions. Roman owns 100% of the Finnish holding Langvik Capital: the Langvik Hotel (100%), the management company Tanskarlan Centrum (85%) and Arena Events (49,5%). Another 1% of the Arena Events’ shares are owned by Roman directly, his junior partner in the Arena Events (49,5%) is Gennady Timchenko. The Arena Events owns 49% of the Finnish hockey club Jokerit and 100% of its home stadium Hartwall Arena. According to Langvik Capital’s recent report (in 2014), the abovementioned companies are estimated at € 21 million, and to purchase them earlier € 26 million was spent. Roman in an interview with Forbes admitted that in order to buy the assets he took a "couple of tens of millions" loan from his father and uncle.
3. The Ananievs
The Ananiev brothers’ Promsvyazkapital owns two major banks: PSB and Renaissance, the system integrator Technoserv, the developer Promsvyaznedvizhimost and two of the largest printing houses in Moscow. In July 2016, the Ananievs announced their plans to create an investment company P.S. Capital with the registered capital of € 100 million.
4. The Shamalovs
Nikolay Shamalov, as a member of the cooperative Ozero and Putin's friend, was placed in the sanctions list in 2014. The basis of his wealth is a 10.2% share in the Rossiya bank. The younger son Kirill is married to Katerina Tikhonova, whom Bloomberg and Reuters called Putin's daughter. Kirill owns 21.3% of Sibur. Over the past six months, his fortune has increased by $ 1.1 billion.
5. The Shaymievs
Airat and Radik Shaimievs own 19.5% of the TAIF Group (TAIF-NK, Nizhnekamskneftekhim, Kazanorgsintez, TGC-16) each. Tatarstan's first President Mintimer Shaimiev’s sons are the richest people in the country. Over the past six months, their combined wealth rose by $ 300 million due to the growth of quotations of petrochemical companies.
6. The Sarkisovs
The Sarkisov brothers own more than 60% of the shares of the insurance company RESO-Guarantiya, a significant portion of their wealth is now concentrated in the overseas real estate: a land plot in Monaco, three houses in Los Angeles, the building of the Chamber of Commerce in Paris, a mansion in London, real estate in France and Vilnius.
7. The Bazhayev’s
In the autumn of 2014, the Alliance Group sold its main asset, Alliance Oil Company, to the Nezavisimaya neftegazovaya kompaniya (the Independent Oil and Gas Company) (NNK) of ex-president of Rosneft Eduard Khudainatov. Musa Bazhaev and his nephew, the son of the group founder Zia Bazhaev Deni has 40% in the Rossiyskaya platina (Russian platinum). The elder brother Mavlit is not involved in this project.
8. The Rakhimkulovs
The Rahimkulovs own shares of the Hungarian OTP Bank, the oil company MOL, Gazprom and VTB. The investments are managed by the family company Kafijat. The eldest son from Rahimkulov’s first marriage Rinat (47 years old) together with half-brothers is a member of the Board of the company, but does not own share in its assets, according to the OTP Bank’s statements.
9. The Magomedovs
The Magomedov brothers in the 1990s were engaged in the banking business and oil trading. In 2002, the elder brother Magomed became a senator, and Ziyaudin continued to do business and set up the Summa group. Today, the brothers own equal shares in Novorossiysk commercial seaport. Almost 100% of the oil and gas company YATEC belong to Ziyaudin.
10. The Mutsoyevs
Zelimkhan Mutsoev with his brother Amirkhan Mori in the late 1980s sewed down jackets. In 1998, the partners acquired 94% of Pervouralsky novotrubny zavod (Pervouralsk New Pipe Plant), and then in 2004, sold it for $ 400 million to the ChTPZ owner Andrey Komarov. His group Regions is included in the ranking of Forbes so-called Kings of the Russian Real Estate - 2016 (9th place).