Dmitry Kamenshchik
Dmitry Vladimirovich Kamenshchik | |
|---|---|
| Born | April 26, 1968 Sverdlovsk, Russia |
| Occupation | Entrepreneur |
| Known for | Chairman and sole proprietor of Moscow Domodedovo Airport |
Dmitry Vladimirovich Kamenshchik (; born April 26, 1968) is a prominent Russian entrepreneur who serves as chairman and sole proprietor of Moscow Domodedovo Airport through his ownership of DME Ltd., the company holding the airport’s assets.
As of April 2024, Forbes placed Kamenshchik at number 62 on the list of Russian billionaires, estimating his net worth at USD 2.2 billion.
Biography
Kamenshchik was born in 1968 in Sverdlovsk, Russia, into a family with a background in radio physics and alumni ties to the Urals Polytechnic Institute. His father directed a computer center at Uralgiprotrans, while his mother was employed in a classified geodesy and mapping institution.
He initially pursued higher education at the Faculty of Physics and Energy Engineering at the Moscow Power Engineering Institute, but his studies were interrupted by military service in the Soviet Army from 1986 to 1988. In 1990, he began studying philosophy at Moscow State University but left to engage in business activities. He later completed a degree in Economic Sociology at MSU's Sociological Faculty in 2000 and earned a PhD in Economics from the same university in 2003.
Business
In 1991, Kamenshchik became the principal representative in Moscow for East Line, an air transport company established by Yekaterinburg businessman Anton Bakov.
During the early 1990s, East Line began operations at Moscow Domodedovo Airport, involving leasing cargo aircraft, renovating infrastructure, and constructing both cargo and passenger terminals.
By 1994, Bakov transferred his ownership stake to Kamenshchik. Towards the end of the decade, East Line negotiated to acquire the government’s share in Domodedovo’s air terminal complex and secured a long-term lease—spanning 75 years—on non-privatized airport facilities such as runways, taxiways, and aircraft stands. Kamenshchik assumed the role of chairman of Domodedovo Airport in 1998.
In 2004, Rosimuschestvo reviewed East Line’s acquisition transactions; however, between 2006 and 2008, the High Court of Arbitration confirmed their legality.
Between 2002 and 2004, Kamenshchik expanded his portfolio by purchasing stakes in Demikhovskiy Machinery Factory, Tsentrosvar Factory, and Oktyabrskiy Electric Car Repair Factory. He also founded Transmash, a transport engineering research and development firm. In 2004, he divested these holdings along with East Line—which by then operated a fleet of approximately 50 aircraft with regional offices—to concentrate exclusively on Domodedovo Airport.
Since 2005, Domodedovo has ranked as Russia’s leading airport by passenger volume. In 2014, it handled around 33 million travelers annually, placing it among Europe’s largest airports according to Airports Council International. To further develop its commercial prospects, Kamenshchik announced plans for Aerotropolis, an adjacent business and industrial zone near the airport.
Following the terrorist bombing at Domodedovo in January 2011, authorities scrutinized airport ownership. During preparations for an initial public offering that same year, Kamenshchik was publicly identified as the sole owner on the London Stock Exchange website; nonetheless, the IPO was ultimately deferred.
On February 18, 2016, Kamenshchik was detained on allegations of criminal negligence related to the 2011 bombing that resulted in 37 fatalities. Both he and Domodedovo Airport refuted any misconduct, maintaining that security measures complied with regulations at that time. He remained under house arrest with stringent conditions until April 2016 and was released on July 1, following intervention from Deputy Prosecutor General Vladimir Malinovsky. Subsequently, on September 21, 2016, the Investigative Committee terminated the case due to insufficient evidence.
Asset Valuation
A review of recent deals involving majority ownership in airports—specifically Tolmachevo (2011), Edinburgh (2012), and Stansted (2013)—reveals an average EV to LTM EBITDA ratio of 17.2. Utilizing this multiple for Domodedovo International Airport suggests its valuation is near USD 7.5 billion.
Personal Life and Interests
Kamenshchik remains unmarried, with sources suggesting he has between four and five children. His recreational pursuits encompass piloting jets, practicing the shangi martial art, diving, kiting, and alpine skiing.