Oleg Deripaska

In this name that follows Eastern Slavic naming customs, the patronymic is Vladimirovich and the family name is Deripaska.

Oleg Deripaska
Олег Дерипаска
Deripaska in 2020
Born (1968-01-02) 2 January 1968 (age 56)
Dzerzhinsk, Gorky Oblast, Soviet Union
CitizenshipRussia, Cyprus[1]
Alma materMoscow State University
Plekhanov Russian University of Economics
Occupation
Known forFounder of RUSAL
Founder of En+
Founder of Basic Element
Founder of Volnoe Delo
Spouse
Polina Yumasheva
​
​
(m. 2001; div. 2018)​
Children2
Awards
Websitederipaska.com

Oleg Vladimirovich Deripaska (Russian: Олег Владимирович Дерипаска; born 2 January 1968)[2] is a Russian oligarch and billionaire.[3][4] Deripaska began his career as a metals trader after the breakup of the Soviet Union. He used accumulated funds from trading to acquire stakes in the Sayanogorsk aluminum smelter from a consortium of businessmen who privatized it in the aftermath of the collapse of the Soviet Union.[5][6] The Sayanogorsk aluminum smelter served as the foundation of what later became the world's largest aluminium company Rusal.[5]

Deripaska is the founder of Basic Element, one of Russia's largest industrial groups, and Volnoe Delo, Russia's largest charitable foundation. He was the president of En+ Group, a Russian energy company, and headed United Company Rusal, the second-largest aluminum company in the world, until he quit both roles in 2018.[7][8]

He has been characterized as a victor in the "aluminium wars" in Russia during the 1990s, which were frequently violent conflicts between businesspeople to obtain state-owned assets.[9][10] In 2000, Deripaska founded Rusal, the result of a partnership between Sibirsky Aluminium and Roman Abramovich's Millhouse Capital.[11] In 2007, Rusal merged with SUAL Group and Glencore International AG to form UC Rusal, with Deripaska as chairman.[12]

He was once Russia's richest man, but lost a substantial part of his fortune amid the 2007–08 financial crisis. As of June 2022, his wealth was estimated by Forbes at $3.2 billion, making him the 920th richest person in the world.[13] In 2017, Deripaska obtained a Cypriot citizenship through the country's 'golden visa' program, which allows major investors in the economy to apply for a national passport.[1]

He was placed under U.S. sanctions in 2018 for reasons relating to the 2014 annexation of Crimea by Russia.[14][15] Deripaska was one of seven oligarchs sanctioned by the British government over the 2022 Russian invasion of Ukraine, including asset freezes and travel bans.[16]

As early as 2022 Deripaska was one of a handful Russian businessmen to openly denounce the Russian invasion of Ukraine. After making his statements, he faced pressure from the Kremlin, leading to the seizure of a major asset he owned, valued at USD 1 billion.[17] Nonetheless, he returned to the subject in early August 2024, when he characterized the invasion as "madness" and called for it to be stopped immediately.[18] He came under strong fire from the pro-Putin camp in Russia for his statements, notably from the ultranationalist Alexander Dugin.[19]

  1. ^ a b Farolfi, Sara; Harding, Luke (2 March 2018). "EU citizenship for sale as Russian oligarch buys Cypriot passport". The Guardian. Retrieved 5 March 2018.
  2. ^ "Oleg Vladimirovich Deripaska" (in Russian). deripaska.ru. Archived from the original on 8 February 2016. Retrieved 7 November 2012.
  3. ^ Oleg Deripaska, Russian oligarch under siege for Putin ties, Financial Times, 4 May 2018.
  4. ^ U.S. Agents Tried To Turn Oligarch Into an Informer - New York Times, 1 September 2018.
  5. ^ a b "Вещий Олег: биография Дерипаски". Forbes.ru (in Russian). 26 August 2009. Retrieved 1 October 2024.
  6. ^ Palma, Stefania (19 October 2021). "FBI searches home linked to Russian metals tycoon Oleg Deripaska". Financial Times. Retrieved 28 February 2022.
  7. ^ Devitt, Polina. "Russian magnate Deripaska to quit roles at his two biggest firms". U.S. Retrieved 14 August 2018.
  8. ^ "Management". United Company Rusal. Archived from the original on 8 February 2016. Retrieved 2 June 2017.
  9. ^ "Biting the bullet, not the dust: Deripaska gives up his aluminum empire". Reuters. 21 December 2018. Retrieved 28 February 2022.
  10. ^ "The war of the four oligarchs". the Guardian. 13 April 2008. Retrieved 28 February 2022.
  11. ^ Whalen, Jeanne (25 September 2003). "Aluminum Shake-Up May Loom in Russia". Wall Street Journal. ISSN 0099-9660. Retrieved 2 June 2017.
  12. ^ "RUSAL, SUAL, Glencore complete aluminium merger". Reuters. 27 March 2007. Retrieved 2 June 2017.
  13. ^ "Oleg Deripaska". Forbes. Retrieved 6 July 2022.
  14. ^ "Oleg Deripaska resigns from Rusal amid US sanctions row". BBC News. 25 May 2018. Retrieved 26 March 2022.
  15. ^ "Treasury Designates Russian Oligarchs, Officials, and Entities in Response to Worldwide Malign Activity". U.S. Department of the Treasury. Retrieved 26 March 2022.
  16. ^ "Ukraine war: Roman Abramovich sanctioned by UK". BBC News. 10 March 2022. Retrieved 10 March 2022.
  17. ^ "Billionaire Oleg Deripaska's Sochi hotel complex seized after Russian court order". www.ft.com. 19 December 2022.
  18. ^ "Миллиардер Дерипаска назвал безумной войну Путина в Украине и призвал немедленно ее остановить".
  19. ^ "Russia's Deripaska under fire for rare anti-war comments". Yahoo News. 9 August 2024. Retrieved 16 August 2024.