Leonid Mikhelson
Leonid Mikhelson | |
|---|---|
| Born | August 11, 1955 Kaspiysk, Russia |
| Nationality | Russian-Israeli |
| Occupation(s) | Businessman, CEO, Chairman |
| Known for | CEO, chairman, and principal shareholder of Novatek; Chairman of Sibur |
| Notable work | Founder of V-A-C Foundation |
Leonid Viktorovich Mikhelson (; born August 11, 1955) is a billionaire oligarch of Russian-Israeli nationality, serving as CEO, chairman, and a principal shareholder of the Russian natural gas enterprise Novatek.
Following the dissolution of the Soviet Union, Mikhelson obtained ownership in a privatized pipeline construction company that subsequently transformed into Novatek. He maintains a business alliance with Russian billionaire Gennady Timchenko, who is known to be a close confidant of Vladimir Putin.
Per data from the Bloomberg Billionaires Index and Forbes, Mikhelson's estimated net worth reached around US$29.5 billion in 2025, placing him 64th worldwide and as the second wealthiest individual in Russia. In 2023, Forbes positioned him as the fourth richest Russian billionaire with assets valued at $28.5 billion.
Biography
Originating from an Ashkenazi Jewish background, Mikhelson launched his professional journey as an engineer after earning a degree in Industrial Civil Engineering from the Samara Institute of Civil Engineering in 1977. Early in his career, he managed projects such as the Urengoi-Chelyabinsk gas pipeline in a foreman capacity. By 1985, he ascended to Chief Engineer at Ryazantruboprovodstroy and in 1987 was appointed General Director of Kuibishevtruboprovodstroy, one of the initial enterprises to undergo privatization after the Soviet Union's collapse.
He held the role of managing director at this firm—later renamed NOVA—until 1994 before assuming the position of General Director for its holding company Novafinivest, which eventually became NOVATEK. Between 2008 and 2010, Mikhelson led the boards of OAO Stroytransgas and OOO Art Finance. Presently, he chairs the Board of Directors at ZAO SIBUR, a leading gas processing and petrochemical corporation headquartered in Moscow with 26 production facilities throughout Russia. Mikhelson controls 57.5% ownership of Sibur and possesses a 25% share in Novatek.
He is acknowledged as one of Russia’s foremost oligarchs and possesses luxury assets including the megayacht Pacific.
Mikhelson has cultivated significant involvement in the arts, with an emphasis on Russian and contemporary works. He established the V-A-C Foundation, which supports contemporary Russian art through global collaborations with institutions such as New York’s New Museum, the Tate galleries in the United Kingdom, and London's Whitechapel Gallery. In 2017, this foundation inaugurated an exhibition venue in Venice and is currently developing a major cultural center in Moscow—an adaptive reuse project converting a historic power plant on the Moskva River—designed by Renzo Piano Building Workshop, with an anticipated opening in 2021.
Notable Partnerships
Mikhelson often partners with fellow Russian billionaire Gennady Timchenko on various business ventures and investments. Together, they hold majority stakes in both Novatek and Sibur. In 2013, they divested 12% of Sibur to management partners. Both men are regularly featured on the Forbes list of billionaires.
In 2012, multiple sources including Bloomberg ranked Mikhelson as Russia’s second wealthiest individual. Both Mikhelson and Novatek serve as primary sponsors for the Russian Football Union.
He has been honored with the Order of the Badge of Honor by the Russian Federation.
Personal life
Mikhelson is married with two children and resides in Moscow. His daughter Victoria pursued art history studies at New York University and London's Courtauld Institute. The VAC Foundation’s project titled Victoria, the Art of Being Contemporary bears her name. Additionally, Mikhelson holds citizenship in Israel.
Sanctions
Mikhelson appears on the list of Russian "oligarchs" targeted under the Countering America's Adversaries Through Sanctions Act (CAATSA), which was signed into law by President Donald Trump in 2017. Additionally, the United Kingdom government imposed sanctions on him in 2022 in connection with the Russo-Ukrainian War.
See also
External links
- Bloomberg Stocks Profile
- Leonid Viktorowitsch Mikhelson
- The world's 50 Richest Jews: 31-40 By JERUSALEM POST STAFF, 09/07/2010
- Pages with script errors
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- Russian oligarchs
- Russian Jews
- 1955 births
- Living people
- People from Kaspiysk
- Russian billionaires
- Russian people of Israeli descent
- Russian people of Jewish descent
- People named in the Paradise Papers
- Russian construction businesspeople
- Russian businesspeople in Israel