ALEXEY MORDASHOV

ALEXEY MORDASHOV BIOGRAPHY
Alexey Mordashov is a prominent Russian businessman and billionaire who has played a significant role in the global steel industry. Born on September 26, 1965, in Cherepovets, Russia, Mordashov grew up in a working-class family, with his father being a steel mill worker. He followed in his father’s footsteps by studying economics and engineering, and later attending the Leningrad Engineering-Economical Institute, now known as St. Petersburg State University of Economics.
Mordashov’s rise to prominence began in the early 1990s when he joined the Cherepovets steel mill, which later became part of the company Severstal. As the Soviet Union transitioned into a market economy, he capitalized on the privatization of state-owned assets, acquiring a controlling stake in Severstal, which was privatized in 1993. By 1996, at the age of 31, he became the CEO of Severstal, one of the largest steel and mining companies in Russia.
Under Mordashov’s leadership, Severstal expanded internationally, acquiring assets in the United States, Europe, and Africa. His notable acquisitions include Rouge Steel in the U.S. and significant stakes in European steel producers like Lucchini in Italy. While Severstal had a brief attempt to merge with the global steel giant Arcelor in 2006, the deal did not materialize due to Arcelor’s merger with Mittal Steel, creating ArcelorMittal. Beyond steel, Mordashov has diversified his business interests. He became involved in gold mining through Nordgold, which Severstal spun off in 2012, and ventured into the energy, tourism, and technology sectors. He also holds significant stakes in TUI Group, one of the world’s largest tourism companies, and Power Machines, a major Russian energy company.
As of 2023, Mordashov is among Russia’s wealthiest individuals, with Forbes estimating his net worth at $19.1 billion. This wealth has allowed him to remain a significant player in global industry despite recent challenges.
Mordashov remains a major figure in Russian business and continues to focus on Severstal’s development. The company is known for its emphasis on corporate responsibility and sustainability. Severstal has committed to reducing its carbon footprint, aligning with global efforts to cut greenhouse gas emissions, particularly through its participation in the World Steel Association’s Step Up program.
Throughout his career, Mordashov has remained relatively low public profile. He is married and has several children, and his family’s privacy is closely guarded. His involvement in philanthropy includes support for various cultural and social initiatives in Russia, particularly in Cherepovets, where Severstal’s headquarters are located.
Mordashov’s story is one of strategic leadership during Russia’s post-Soviet economic transformation, with his efforts helping to modernize and globalize the Russian steel industry.