Oleg Deripaska

Oleg Deripaska
Oleg Deripaska
Born	January 2, 1968 (age 58); Dzerzhinsk, Nizhny Novgorod Oblast, Soviet Russia
Occupation(s)	Businessman, industrialist, oligarch
Known for	Founder of Basic Element; former president of En+ Group; chairman of Rusal

Oleg Vladimirovich Deripaska (; born January 2, 1968) is a Russian billionaire and influential oligarch. His professional journey began in metals trading following the Soviet Union's dissolution, where he leveraged earnings to purchase shares in the Sayanogorsk aluminum smelting facility. This investment laid the groundwork for Rusal, now recognized as the largest aluminum producer worldwide.

Deripaska established Basic Element (company), which ranks among Russia's most substantial industrial conglomerates, and founded Volnoe Delo, the nation's premier charitable organization. He held leadership roles as president of En+ Group and chairman of Rusal until stepping down from both positions in 2018.

A prominent participant in Russia's 1990s "aluminium wars," Deripaska created Rusal in 2000 through a collaboration with Roman Abramovich’s Millhouse Capital. In 2007, a merger between Rusal, SUAL Group, and Glencore resulted in UC Rusal, where Deripaska assumed the chairmanship.

Once considered Russia’s wealthiest individual, his fortune significantly declined during the 2008 global financial downturn. By July 2025, Forbes valued his net worth at $4.1 billion, placing him at 887th on the global billionaire list. In 2017, he obtained Cypriot citizenship through the country's investor 'golden visa' scheme.

Deripaska was subjected to U.S. sanctions in 2022 due to Russia’s annexation of Crimea and was among seven oligarchs targeted by the UK that same year for their involvement in the invasion of Ukraine; these measures included asset freezes and travel restrictions.

In 2022, he publicly denounced Russia’s military actions in Ukraine, prompting pressure from the Kremlin and confiscation of a significant asset valued at $1 billion. In August 2024, he reiterated his condemnation of the invasion as "madness" and urged an immediate cessation, eliciting strong criticism from pro-Putin figures such as ultranationalist Alexander Dugin.

Early life and education

Born in Dzerzhinsk, located in Nizhny Novgorod Oblast within Soviet Russia, Deripaska was raised in Ust-Labinsk, Krasnodar Krai. His family roots trace back to Kuban. He spent his childhood on a family farm where his grandparents primarily cared for him after his widowed mother left to seek employment elsewhere. Both grandfathers served during the Second World War; his paternal grandfather Timofey Deripaska (1918–1945), an ethnic Ukrainian, died in combat and was interred in Austria. To honor him, Deripaska later commissioned a Russian Orthodox church in Laa an der Thaya.

At age 11, Deripaska began working at the Ust-Labinsk factory where his mother was employed, apprenticing as an electrician responsible for motor maintenance. His strong mathematical skills earned him admission to Moscow State University’s physics faculty in 1985. After one year of study, he completed military service with the Soviet Strategic Missile Forces stationed in Siberia from 1986 to 1989.

He graduated with honors in physics from Moscow State University in 1993; however, following the Dissolution of the Soviet Union, academic funding sharply declined, curtailing his career prospects as a theoretical physicist. Confronted with financial challenges, he redirected his path and obtained a master's degree from the Plekhanov University of Economics in 1996.

Career

At the age of 25, Deripaska collaborated with experts in physics, engineering, and rocket science to launch his initial metal trading enterprise, VTK. He employed a methodical and scientific strategy in commodity trading, concentrating on export arbitrage—purchasing metals at low prices within Russia and selling them internationally at higher rates. Due to the chaotic nature of Russia's export licensing system, he conducted most of his trading operations through Estonia. Deripaska characterized this era as a distinctive chance created by the Soviet Union's dissolution, which opened doors for both educational advancement and business development.

He funneled nearly all earnings from arbitrage and trading back into acquiring equity in the Sayanogorsk aluminum smelting facility located in Southern Siberia. By 1994, when he was 26 years old, he had risen to become the plant's director general. In 1997, he established Sibirsky Aluminium Group, which merged with Roman Abramovich's Millhouse Capital in 2000 to form RUSAL. By 2003, companies under Deripaska's control had increased their ownership to 75%, purchasing half of Millhouse Capital’s shares. The consolidation finalized in 2004 with the acquisition of the remaining 25% stake previously held by Millhouse Capital.

Deripaska earned the title of businessman of the year from Vedomosti in 1999, 2006, and 2007. Under his guidance, RUSAL grew to become the world’s leading aluminum producer until it was overtaken by China Hongqiao Group in 2015. In 2010, RUSAL became the first Russian corporation to be listed on the Hong Kong Stock Exchange.

Basic Element

Deripaska’s industrial portfolio extends beyond metals into sectors such as energy, manufacturing, commercial vehicles, automotive parts, financial and insurance services, leasing, construction, aviation, and agriculture. Among his principal holdings are EuroSibEnergo—the largest private energy firm in Russia; a 10% share in Ingosstrakh, a prominent Russian insurance company; GAZ Group, a significant automotive manufacturer; and Kuban Agro Holding in the agricultural domain. He also founded Basel Aero, which manages airports in the Krasnodar area including Sochi and Krasnodar airports.

These assets form Basic Element, a diversified investment group Deripaska founded in 1997. Basic Element oversees investments spanning energy, metals and mining, machinery manufacturing, financial services, agriculture, construction projects, and aviation. Its major subsidiaries include United Company RUSAL (the world’s largest aluminum producer), GAZ Group, Aviakor aircraft manufacturer, EuroSibEnergo energy company, Glavmosstroy construction firm, Kuban Agroholding agricultural enterprise, and Basel Aero—a joint venture with Changi Airports International operating key airports in Krasnodar. Basic Element manages investments across Russia and CIS nations as well as Africa, Australia, Asia, Europe, and Latin America employing approximately 250,000 personnel. It also holds control over Strikeforce Mining and Resources.

The group invested upwards of $1.4 billion into infrastructure development for the Sochi 2014 Winter Olympics. Projects included constructing the Coastal Olympic Village, expanding Imeretisnkiy seaport, extending Kurortny Avenue, and renovating Sochi International Airport.

Amid the 2008 financial downturn, Deripaska divested his 25% interest in Austrian construction company Strabag but repurchased it two years later in 2010. In return for this transaction, Strabag acquired a 26% stake in Transstroy.

Difficulties with US Travel, 2006–2009

In 2008, as Deripaska attempted to acquire the Daimler Chrysler Group, the United States withdrew his entry visa, citing concerns over "criminal connections and associations." These actions were reportedly linked to alleged involvement with Russian organized crime and suspicions of money laundering through real estate transactions. Deripaska had originally been granted a multiple-entry visa in 2005. Efforts to influence this decision included lobbying by former Senate Republican leader Bob Dole and his law firm, Alston & Bird, which received approximately US$260,000 for work related to visa regulations affecting Deripaska.

By 2009, Deripaska was allowed back into the U.S. and made two visits. Unnamed FBI sources reported that he met with agents concerning an ongoing criminal probe. During these trips, he also held discussions with senior officials from investment banks Goldman Sachs and Morgan Stanley as his aluminum firm, United Company RUSAL, prepared for an initial public offering. The relaxation of visa restrictions helped calm investor apprehension. The State Department declined to provide comments on the visa revocation or subsequent entries. Deripaska denied any criminal affiliations, attributing the visa complications to rival smear campaigns. In a 2009 interview with the BBC, he accused U.S. authorities of attempting to coerce him through blackmail by undermining investor trust.

In October 2021, NBC News revealed that Russia had granted Deripaska diplomatic status, allowing him entry into the U.S. with immunity.

Magna Partnership and Litigation Against Morgan Stanley, 2015

In May 2007, Magna International chairman Frank Stronach declared Deripaska a strategic partner. Through his investment vehicle Veleron, Deripaska acquired Magna shares financed by a $1.2 billion loan from BNP Paribas, using those shares as collateral. Morgan Stanley participated in the transaction via a swap agreement with BNP Paribas, taking on loan risks in exchange for fixed payments.

Following the global financial crisis in September 2008, Magna’s stock value plummeted. BNP Paribas issued a $93 million margin call to Veleron, which was unlikely to be met, prompting Morgan Stanley to short sell the shares. Deripaska accused Morgan Stanley of breaching fiduciary responsibilities and engaging in insider trading, resulting in losses estimated between $15 million and $25 million.

In 2015, Deripaska filed suit against Morgan Stanley alleging that the firm used insider knowledge to short sell his $1.5 billion Magna stake in 2008. A New York jury concluded that Morgan Stanley had traded on inside information but found no intent to defraud Veleron. Veleron contested this verdict and intended to appeal.

En+ Group

Established in 2006 with Deripaska serving as president and majority shareholder, the En+ Group is a diversified conglomerate operating across mining, metals, and energy sectors. It holds controlling interests in UC Rusal (48.13%) and EuroSibEnergo.

In 2017, En+ reported adjusted core earnings amounting to $2.3 billion on revenues of $9.8 billion. That November marked En+’s initial public offering on the London Stock Exchange, where it raised $1.5 billion.

RUSAL

United Company RUSAL ranks as the world’s second-largest aluminum manufacturer, surpassed by China’s Chalco in 2019. As of 2018 data, RUSAL contributed approximately 5.8% of global primary aluminum output and accounted for 6.2% of alumina production worldwide.

Under Oleg Deripaska’s leadership, RUSAL ensured consistent alumina supplies by acquiring strategic assets such as bauxite mines in Guinea and an alumina refinery located in Australia. In 2007, RUSAL merged with SUAL Group and Glencore to create the world’s largest aluminum and alumina producer at that time, incorporating assets in Jamaica, Italy, and Ireland—transforming it into a vertically integrated enterprise.

Deripaska prioritized modernization of Russian smelting operations by implementing Japanese production methodologies like kaizen, aimed at boosting efficiency and empowering improvements at the factory level. A notable achievement was constructing the Khakas smelter in Siberia—the first new aluminum smelter built in post-Soviet Russia—with an annual capacity of 300,000 tons featuring advanced technology.

Reassuming the CEO role in 2009 amid a debt crisis, Deripaska executed a 25% reduction in costs and negotiated refinancing agreements worth $17 billion with more than seventy creditors. In 2017, RUSAL issued Eurobonds totaling $1.1 billion and became the first foreign company to issue panda bonds on the Shanghai Stock Exchange. Additionally, it secured a $1.7 billion pre-export financing facility to assist with debt restructuring.

Deripaska was honored with the Metal Bulletin Aluminium Industry Ambassador Award in 2013 for his global influence within the sector. He resigned from RUSAL’s board in May 2018 following U.S. sanctions and a corporate restructuring that lowered his EN+ ownership below 50%, facilitating sanction relief by early 2019.

Cherney Litigation, 2008

In 2007, Michael Cherney initiated legal proceedings against Deripaska in the Commercial Court of the High Court in London, asserting his entitlement as the ultimate owner of a 20% stake in RUSAL shares that Deripaska purportedly held on trust. The court dismissed this claim. On 3 May 2007, Justice Langley determined that Deripaska had not been properly served with the claim and ruled that the court lacked jurisdiction because Deripaska was neither resident in England nor Wales.

By July 2008, Justice Christopher Clarke concluded that despite Russia being the "natural forum" for the dispute, the case should proceed in England, citing concerns about potential risks associated with a Russian trial and deeming England a more appropriate venue for justice. Although Deripaska was permitted to appeal this decision, the Court of Appeal denied his request in July 2009.

During a case management hearing in June 2011, the judge deferred a decision on whether Cherney could provide testimony via video link from Israel due to an unresolved Interpol arrest warrant obstructing his travel to the UK. Subsequently, by late July 2011, the High Court authorized Cherney to testify remotely and set the trial date for April 2012.

Deripaska refuted Cherney’s ownership allegations, explaining that earlier payments represented unavoidable "protection" fees amid widespread violence threatening business activities. He asserted ongoing efforts to reform Russian industry and assist law enforcement agencies, acknowledging that paying criminal groups was a necessary risk during those turbulent times. In September 2012, Cherney withdrew his UK lawsuit against Deripaska.

EuroSibEnergo

EuroSibEnergo operates a network of 18 power stations with a combined capacity of 19.5 GW, including 15 GW generated from hydropower sources. The company supplies approximately 9% of Russia's total electricity output and dominates the Siberian energy sector with a 41% market share. Its primary customers include Russia’s largest aluminum production facilities. EuroSibEnergo controls coal reserves amounting to 1.26 billion tons, which fulfill over 85% of its thermal power plants' coal requirements, producing in excess of 12 million tons annually.

En+ Group, EuroSibEnergo’s parent company, is actively investing in a partnership with China Yangtze Power Co, China’s leading hydroelectric operator, to develop new hydroelectric projects in Siberia with an anticipated capacity reaching up to 10 GW.

Russian Machines

Established in 2005, Russian Machines unifies Deripaska's machine-building enterprises spanning automotive original equipment manufacturing (GAZ Group), automotive parts (RM-Systems), rail transport (RM Rail), aircraft production (Aviacor), road construction equipment (RM-Terex), and agricultural machinery (AGCO-RM). The corporation maintains operations across 24 facilities located within 12 Russian regions.

In September 2017, Russian Machines partnered with AGCO to create a joint venture named AGCO-RM SPIC dedicated to manufacturing agricultural machinery.

GAZ Group

Deripaska began acquiring machine-building assets in 2000 by purchasing the Nizhny Novgorod-based Gorkovsky Automobile Plant (GAZ), which had previously been state-owned. The formation of GAZ Group occurred in 2005 through consolidation of his machine-building enterprises.

GAZ Group stands as a leading Russian automotive conglomerate operating 18 manufacturing sites across eight regions. Its product range includes light and medium commercial vehicles, heavy-duty trucks, buses, passenger cars, road construction equipment, powertrain units, and automotive components.

In March 2019, GAZ Group sought $468 million in governmental aid due to US sanctions imposed on Deripaska that threatened to reduce production capacity by nearly 40% during the latter half of the year.

Airports

Sochi, Krasnodar, and Anapa airports are managed by Basel Aero, a partnership between Changi Airports International, Basic Element, and Russia's Sberbank. Together, these airports account for more than 7% of passenger traffic within Russia. Notably, Sochi International Airport served as the central hub during the 2014 Winter Olympics.

In October 2014, Sochi Airport was granted open skies status, permitting foreign airlines to operate without restrictions on aircraft type or flight frequency.

Financial services

Oleg Deripaska owns a 10% stake in Ingosstrakh, a prominent insurer specializing in complex risk coverage such as marine, ship hull, aviation, space-related, and transportation insurance. The company maintains a network of 83 branches throughout Russia and has offices in 220 cities and towns.

Agribusiness

Established in 2011 by Deripaska, Kuban Agroholding spans 75,000 hectares in the Krasnodar region. Its operations include two dairy farms, a pig breeding facility housing 16,000 animals, three grain elevators with a combined storage capacity exceeding 270,000 tonnes, three grain processing plants, a sugar refinery, and the Sunrise horse breeding farm focused on English thoroughbred horses. Kuban Agroholding ranks among Russia’s top 20 largest agribusiness enterprises and is recognized as one of the top five most efficient land users.

The company employs cutting-edge embryo transfer techniques to propagate high-yield dairy cows using less productive surrogate animals. It has also garnered media attention for its corn-seeding initiative involving dozens of genetically selected corn varieties.

As reported by Forbes in June 2019, Deripaska’s Kuban land holdings ranked as Russia’s fourteenth largest agricultural land bank.

Redut PMC

Redut—also referred to as Redoubt or Redut-Antiterror and previously known as "Shield"—is a Russian Private Military and Security Company (PMSC) affiliated with the "Antiterror-family" group. This cluster consists of similarly named PMSCs tasked with safeguarding Russian commercial interests. Redut has been actively engaged by Russia during its invasion of Ukraine, which has resulted in international sanctions against the organization. Several members have faced convictions for war crimes committed during the conflict.

Prominent supporters reportedly include Oleg Deripaska and Gennady Timchenko, who are said to provide armored personnel carriers along with helmets and protective equipment. However, Deripaska denies any involvement in financing or supporting these military entities.

Additional Positions

In 2004, Deripaska was designated by the President of Russia to act as Russia's representative within the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC), and he has led ABAC Russia since 2007. He holds the position of vice president at the Russian Union of Industrialists and Entrepreneurs, chairs the executive board of the Russian national committee for the International Chamber of Commerce, and participates as a member of the Russian government's Competitiveness and Entrepreneurship Council.

Deripaska has been a frequent attendee at World Economic Forum events since 2007, coinciding with RUSAL's status as a strategic partner of the WEF.

Investigations

Authorities in Spain, England, and the FBI questioned Deripaska in 2009 regarding allegations related to money laundering, though no charges were filed against him. A 2010 Financial Times report explored his business associations with Sergei Popov and Anton Malevsky, who were purported leaders of Russian organized crime factions. Deripaska accused Michael Chernoy of leveraging Malevsky and the Izmailovskaya syndicate to extort $250 million from him; nevertheless, Deripaska himself has been connected to Malevsky, who along with his brother held a 10% ownership in Deripaska’s firm—a claim he denies.

In 2011, Spanish law enforcement interrogated both Deripaska and Iskander Makhmudov, head of UGMK, as part of a money laundering investigation. Subsequently, Spain’s High Court transferred criminal cases involving Deripaska back to the Russian General Prosecutor’s office due to their Russian jurisdiction.

Vladimir Putin

Deripaska is recognized for his close association with Russian president Vladimir Putin. Their relationship encountered difficulties during Deripaska’s financial troubles in 2009 when Putin publicly criticized management at a cement plant owned by Deripaska that had stalled operations and pressured him into signing an agreement to cover nearly $1 million in overdue wages. The relationship later improved, with Deripaska being described as "Putin’s favored industrialist". Leaked U.S. diplomatic cables from 2006 identified Deripaska as one of the select oligarchs whom Putin regularly consults and often includes on international trips. In 2011, Kinross Gold CEO Tye Burt recognized Deripaska’s influential role in rejuvenating Russia’s domestic industries and infrastructure.

Nathaniel Rothschild and Peter Mandelson

Deripaska maintains a friendship with Nathaniel Rothschild, a principal investor in both Glencore and United Company RUSAL. During summer 2008, Deripaska and Rothschild hosted UK politicians George Osborne and Peter Mandelson aboard Deripaska’s yacht in Corfu. At that time, Osborne served as Shadow Chancellor and was a longtime associate of Rothschild. Mandelson reportedly sustained private communications with Deripaska over multiple years.

These affiliations stirred controversy because Mandelson, serving as European Union Trade Commissioner, oversaw a reduction in aluminium tariffs from 6% to 3%, which benefited RusAl, Deripaska’s company. Mandelson denied any discussions about tariffs with Deripaska. On 26 October 2008, Shadow Foreign Secretary William Hague demanded transparency regarding Mandelson’s meetings with Deripaska; meanwhile, Prime Minister Gordon Brown defended Mandelson’s conduct as "above board". Mandelson asserted that engaging with business leaders from emerging markets was part of his official responsibilities. Additionally, during an October 2008 visit to Moscow, it was reported that Valery Pechenkin, head of security at Deripaska's Basic Element, facilitated expedited visa arrangements for Mandelson’s 2005 trip to Russia.

Paul Manafort

On 22 March 2017, the Associated Press reported that Paul Manafort, who formerly managed Donald Trump’s campaign, had entered into a $10 million per year agreement with Deripaska from 2005, aimed at advancing Russian interests in European and American political, business, and media spheres. Both parties acknowledged previous cooperation but rejected the specific allegations, with Manafort asserting that his activities were neither "inappropriate nor illicit."

On 28 March 2017, Deripaska issued public letters in The Washington Post and The Wall Street Journal refuting claims of any $10 million contract with Manafort intended to support the Putin administration. He expressed readiness to testify before the United States Congress, yet characterized the accusations as influenced by "the adverse atmosphere surrounding current US-Russian relations." Congressional insiders revealed that lawmakers declined his offer after he requested immunity from prosecution, citing potential interference with ongoing federal inquiries.

On 15 May 2017, Deripaska initiated a defamation suit against the Associated Press in the U.S. District Court for D.C., contending that the report inaccurately asserted he had contracted Manafort to promote Russian government objectives. The case was dismissed in October 2017 because Deripaska did not challenge the essential facts presented by the AP.

During the 2016 United States presidential election, Manafort reportedly proposed delivering updates on political developments to Deripaska through Kyiv-based agent Konstantin Kilimnik. Experts interpreted these efforts as attempts by Manafort to gain favor with an oligarch associated with Putin’s regime.

Alleged involvement in Russian interference in the 2016 United States elections

In February 2018, Alexei Navalny published a video depicting a meeting between Deripaska and Russian Deputy Prime Minister Sergei Eduardovich Prikhodko aboard a yacht near Norway. Navalny implied that Deripaska served as a liaison between the Russian government, represented by Prikhodko, and Paul Manafort during Russian interference in the 2016 United States elections. Prikhodko denied these allegations, accusing Navalny of "conflating facts" involving Deripaska, Donald Trump, and Manafort, and expressed intent to confront Navalny personally.

Shortly after the video’s release, Roskomnadzor added it to the Federal List of Extremist Materials, thereby prohibiting Russian citizens from accessing it. The agency also instructed YouTube and Instagram to remove related content; this represented an unprecedented judicial order against these platforms within Russia. The New York Times observed that this action might indicate a stricter approach by Russian authorities toward online content regulation.

In March 2018, Belarusian escort Anastasia Vashukevich, also known as Nastya Rybka, who claimed possession of over sixteen hours of audio recordings potentially revealing Russian interference in U.S. elections, sought asylum in return for handing over the tapes but was instead deported and detained in Russia. Vashukevich stated that recordings from August 2016 captured Deripaska discussing election strategies with three English-speaking individuals she believed to be American. She later apologized in court and reported pressure from Russian operatives to cease public statements about Deripaska. Although Deripaska denies any personal relationship with her, the New York Times suggested her assertions gain credibility when considered alongside Navalny’s footage.

Allegations of involvement in a child sexual exploitation network

Investigations by Verstka and iStories linked Deripaska to a child sexual exploitation ring operating between 2018 and 2019, which was reportedly concealed under the guise of regional beauty contests for adolescent girls throughout Russia. The alleged incidents took place in June 2019 within Krasnodar Krai. Following the publication of these findings, both media outlets experienced distributed denial-of-service (DDoS) attacks targeting their Telegram channels.

Sanctions

Australian sanctions

On 18 March 2022, Australia officially included Deripaska on its list of sanctioned individuals.

Canadian sanctions

Canada imposed sanctions on Deripaska under the Special Economic Measures Act in response to Russia’s invasion of Ukraine, citing serious violations of international peace.

European Union sanctions

The European Union enacted asset freezes and travel restrictions against Deripaska on 8 April 2022. He filed an appeal against this measure on 30 November 2022. Ukrainian authorities claim that Deripaska transferred assets to Siegfried Wolf, an Austrian national who receives payments from him, as a method to circumvent the sanctions.

United Kingdom sanctions

Following Russia’s 2022 invasion of Ukraine, the UK government froze Deripaska’s assets and barred him from traveling. Additionally, in December 2018, authorities raided Terra Services Ltd, a company linked to Deripaska, as part of an undisclosed investigation by U.S. officials.

United States sanctions

In April 2018, the U.S. government sanctioned Deripaska alongside other Russian oligarchs under the Countering America’s Adversaries Through Sanctions Act, citing allegations such as threats toward competitors and extortion. By May 2018, Deripaska surrendered three private aircraft owned by Credit Suisse and Raiffeisen as a consequence of these sanctions.

In October 2018, the U.S. extended the deadline for full sanctions on Rusal and En+ Group while considering proposals for Deripaska to reduce his ownership stake below 45%. Sanctions on these companies were lifted in January 2019; however, restrictions on Deripaska personally remained. In April 2019, as part of a divorce settlement concluded prior to the sanctions, he transferred his shares in En+ Group to a trust fund benefiting his children.

Greg Barker, a British legislator appointed chairman of En+ Group in February 2019, played a key role in negotiating the agreement that led to lifting sanctions on En+ Group.

Deripaska initiated legal action against the U.S. government over the sanctions in March 2019; however, the case was dismissed in June 2021. His appeal was subsequently denied by the U.S. Supreme Court in October 2022.

On 29 September 2022, U.S. prosecutors accused Deripaska of attempting to evade sanctions through Gracetown Inc., involving illicit use of the American financial system for real estate deals. Two associates were arrested and charged with conspiracy alongside him for violating U.S. sanctions laws. UK businessman Graham Bonham-Carter also faced charges related to assisting Deripaska’s evasion efforts.

In January 2023, Charles McGonigal, former head of FBI counterintelligence, was charged with conspiring to provide services to Deripaska in breach of U.S. sanctions by investigating a rival oligarch based on concealed payments from Deripaska routed through shell companies and falsified contracts.

Personal life

Deripaska was married to Polina Yumasheva, who is the daughter of Valentin Yumashev—an influential advisor during Boris Yeltsin’s presidency—and stepdaughter to Yeltsin’s daughter Tatyana. Throughout Yeltsin’s time in office, Deripaska maintained close connections within the inner circle nicknamed "The Family." Their marriage spanned from 2001 until 2018 and produced two children: Pyotr (born 2001) and Maria (born 2003). His personal interests include yoga, swimming, horseback riding, and hiking; he keeps seven horses and six dogs at his Moscow home.

In 2017, Deripaska obtained Cypriot citizenship via Cyprus's golden visa program—a significant revenue source for the country. His initial attempt to acquire EU citizenship was delayed due to an investigation in Belgium but was ultimately dismissed in 2016.

Deripaska’s ranking on Forbes fluctuated with market dynamics: he was placed at No. 164 in 2009 amid substantial debts but climbed to No. 57 in 2010 with an estimated net worth of $10.7 billion. He restructured his debts through negotiations involving the Russian government, financial institutions, and creditors after replacing leadership at his two largest enterprises. He has consistently maintained that wealth estimates overstate his actual net worth due to outstanding liabilities.

Forbes assessed his net worth at $3.3 billion in 2015, $5.2 billion in 2017, $3.3 billion again in 2019, and $3.2 billion as of June 2022.

Deripaska’s Edenfield Investments—registered in Cyprus—acquired Hamstone House, a Grade II listed property located in Weybridge, Surrey, in 2001. Since 2006, he has owned the Haft mansion near Embassy Row in Washington D.C., held through a Delaware-incorporated entity. Additionally, he possesses a mansion situated in London’s Belgravia district.

Charitable and other activities

Oleg Deripaska is a member of the board of trustees at the Bolshoi Theatre and has supported prominent ballet productions such as Flames of Paris, La Sylphide, and Paquita, along with operatic works including The Legend of the Invisible City of Kitezh and the Maiden Fevroniya, Carmen, and Wozzeck.

In 1998, he established the Volnoe Delo charitable foundation in Russia, which promotes education, scientific research, cultural heritage conservation, and public health projects. Since its foundation, the organization reports funding over 500 initiatives across 50 regions in Russia. A significant contribution includes backing archaeological excavations at the ancient city of Phanagoria, dating back 2,550 years, where more than $10 million was invested over 14 years to create one of the country's most advanced archaeological sites. In 2014, Volnoe Delo initiated JuniorSkills, a vocational training program for youth, with its inaugural competition held in Yekaterinburg. During the COVID-19 crisis in 2020, the foundation supplied ambulances to twelve communities in Siberia and the Urals.

Deripaska was affiliated with Harvard University's Belfer Center International Council. Responding to the 2014 Ebola outbreak in West Africa, he spearheaded the development of a Centre for Epidemic and Microbiological Research in Guinea’s Kindia region, with RUSAL contributing $10 million toward this effort.

In 2014, he funded shelters for stray dogs left homeless following construction activities at the Sochi Olympic Village. The following year, Deripaska publicly expressed opposition to the Paris climate agreement, criticizing its absence of enforceable commitments and advocating for increased participation from nations such as India and China to prevent competitive imbalances.

Amid the 2020 pandemic, he provided financial support for hospital construction projects in Siberia. In April 2021, as part of a public relations initiative, Deripaska contested official Rosstat poverty figures, asserting that the true number of impoverished Russians was closer to 80 million rather than the reported 17.8 million.

Deripaska has openly condemned the 2022 Russian invasion of Ukraine. On 20 December 2022, authorities in Russia ordered the seizure of his $1 billion luxury hotel complex located in Sochi, an action possibly connected to his anti-war position.

He holds trustee roles at Moscow State University’s Schools of Business Administration, Public Administration, Economics, as well as at St. Petersburg State University's School of Business Administration. Additionally, Deripaska co-founded both the National Science Support Foundation and the National Medicine Fund. In recognition of his contributions, he was awarded the Order of Friendship by Russia in 1999.

External links

Profile and asset details of Deripaska on Russian Asset Tracker