Have you ever wondered how some individuals transition from humble beginnings to becoming titans of industry? This is the remarkable story of Alexander Abramov, a Russian billionaire who has carved his name in the annals of business history. With a net worth of an astonishing $6 billion, Abramov’s journey from a scientist to the head of Evraz Holding, Russia's largest steel producer, is a testament to the power of vision, strategy, and determination.
Born in 1959 in the vibrant city of Moscow, Abramov's early life was marked by a strong educational foundation. He graduated from the Moscow Institute of Physics and Technology, which laid the groundwork for his scientific career. However, his path took a significant turn during the turbulent times of the Soviet Union's collapse, leading him to explore opportunities in the burgeoning business landscape.
In 1992, he partnered with Alexander Frolov, launching a small metal trading venture that would eventually evolve into Evraz Holding. This bold move not only marked the beginning of a new chapter in his life but also set the stage for his future success as a businessman. Today, Abramov stands as a prominent figure in the global steel industry, overseeing a company that employs 125,000 people and contributes significantly to Russia's economy.
Biography of Alexander Abramov
| Category | Richest Business › Richest Billionaires |
|---|---|
| Net Worth | $6 Billion |
| Birthdate | 1959 (65 years old) |
| Birthplace | Moscow |
| Gender | Male |
| Profession | Scientist |
| Nationality | Russia |
What is Alexander Abramov's Net Worth?
Alexander Abramov is a Russian scientist-turned-industrial magnate who has a net worth of $6 billion. Born in 1959 in Russia, Alexander Abramov has accumulated an enormous fortune as head of Evraz Holding, Russia's largest producer of steel. A graduate of the elite Moscow Institute of Physics and Technology, Abramov made his career beginnings as the head of a research lab before the collapse of the Soviet Union. In 1992, Alexander Abramov united with Alexander Frolov in the formation of a small metal trading business, a precursor to Evraz Holding. He made the first fortune by exporting metals and coal from the Urals and Siberia.
After the Russian financial crisis in 1998, Abramov made a wise move buying up hobbled steel companies and coal mines on the cheap, including two U.S. firms, Claymont Steel and Oregon Steel. A decade later, in 2008, he was elected Chairman of Evraz, stepping in the shoes of Alexander Frolov, who has since served as CEO. Today, Evraz Holding is a true iron empire which has 125,000 employees, controls around 22% of Russia's total steel output and records an annual turnover of $20 billion. It is rumored that Alexander Abramov and fellow billionaire Roman Abramovich, who also has stakes in Evraz, will buy a 5.8% stake in Norilsk Nickel. Aside from enlarging his already huge fortune, Abramov is a married man with three children.
