Vladimir Yevtushenkov
Vladimir Yevtushenkov | |
|---|---|
| Born | Vladimir Petrovich Yevtushenkov September 25, 1948 |
| Occupation(s) | Business magnate, investor |
| Years active | 1982–present |
| Known for | Founder and majority stakeholder of Sistema |
Vladimir Petrovich Yevtushenkov (; born 25 September 1948) is a Russian billionaire and influential business magnate. He holds a 49.2% majority stake and formerly served as chairman of Sistema. Since 2002, he has chaired the Russian delegations of both the Russian-Saudi and Russian-Arab Business Councils under the Chamber of Commerce and Industry (CCI). Through these roles, he has cultivated significant connections with Saudi Arabia and the broader Arab world.
Early life
Yevtushenkov earned master's degrees in chemistry (1973, from D. Mendeleev Moscow Chemical Engineering Institute) and economics (1980), along with a PhD in economics awarded in 1986. His early career included work as an engineer at Karacharovo Plastics Works until 1982, followed by positions as chief engineer and first deputy general director at Polymerbyt Scientific and Production Association until 1987. That year, he was appointed head of the Department of Science and Technology within Moscow's city administration.
In 1993, shortly after Yuri Luzhkov assumed the mayoralty of Moscow, Yevtushenkov departed from municipal government to establish Sistema, which developed from his former department known as the Moscow Committee on Science and Technology.
He is said to maintain close relationships with notable individuals such as Serhiy Taruta, Viktor Yanukovych, and Mykola Bilokon.
Career
Yevtushenkov initially gained control over the Moscow City Telephone Network (MGTS) by acquiring a 55% share during its privatization. In 1993, he purchased the Moscow Bank for Reconstruction and Development, which was rebranded as MTS Bank in 2012. This financial institution became the primary banking partner for Moscow's city government, substantially boosting its liquidity. In February 2018, MTS Bank secured an exclusive five-year agreement to manage payment processing on the Mayor of Moscow’s official portal mos.ru.
Since 1995, Yevtushenkov has been the principal shareholder and chairman of the board at the Russian investment holding company Sistema, working alongside executives including Evgeny Novitsky. In April 2022, he reduced his ownership in Sistema below controlling levels (to 49.2%) and stepped down from its board. Sistema was an early backer of Russian mobile telecom pioneer VimpelCom, divesting its shares after VimpelCom became the first Russian firm listed on the New York Stock Exchange in 1996. The company went public itself in February 2005 through a $1.35 billion initial public offering—the largest IPO ever conducted by a Russian company at that time. By October 2022, Sistema opted to divest its interest in East-West United Bank (EWUB).
In 2009, Sistema broadened its portfolio into oil and gas by acquiring enterprises in Bashkortostan, laying the groundwork for Bashneft.
At present, Yevtushenkov retains a 49.2% stake in Sistema. According to Forbes, he ranked as Russia’s 15th wealthiest individual in 2014 with an estimated net worth near US$9 billion. His fortune subsequently diminished: by 2016, he was placed #722 globally with US$2.4 billion; by February 2018, his net worth declined to US$2 billion (#1215 worldwide); and as of November 2018, he was Russia’s 62nd richest person valued at US$1.4 billion, ranked #1541 internationally.
Sanctions
In 2014, Vladimir Yevtushenkov faced charges connected to the "Bashneft case," which involved the purchase of shares in the oil company Bashneft, with 70% ownership held by Sistema. Later that year, in December, Bashneft was re-nationalized. Subsequently, in February 2015, the Moscow Arbitration Court ruled in favor of Sistema, awarding RUB 70.7 billion (approximately $1.1 billion) as compensation for the expropriation. By January 2016, all allegations against Yevtushenkov were dropped due to lack of evidence of wrongdoing.
As of March 2022, neither Yevtushenkov, Sistema, nor its affiliate East-West United Bank (EWUB) were subject to sanctions related to Russia’s actions in Ukraine. Nevertheless, on 7 April 2022, Australia added Yevtushenkov to its sanctions list.
In April 2022, the United Kingdom enforced sanctions that froze his assets within the UK. Following this development, Yevtushenkov reduced his personal holding in Sistema to 49.2% by transferring a 10% stake to his son.
On September 1, 2022, Ukraine’s High Anti-Corruption Court mandated the seizure of Yevtushenkov’s assets, including seventeen real estate properties and shares in Ukrainian enterprises. Yevtushenkov has stated he is unaware of any Ukrainian assets under his name that could be subject to confiscation.
Personal life
Vladimir Yevtushenkov and his wife Natalya Nikolayevna () live in Moscow’s Odintsovo district, specifically in the area of Zhukovka (). He is of Jewish heritage.
He has two children:
- Felix (born 1978), his son, is a Russian businessman and investor who holds the position of Senior Managing Partner at AFK Sistema. Felix also served as Chairman of MTS’s Board of Directors from 2019 until April 2023.
- Tatiana Yevtushenkova (born 1976), his daughter, has held senior executive roles at MTS including Vice President for Investments and Securities and membership on the Board. In 2008, she acted as an advisor to the President of Sberbank of Russia and later managed the investment fund Redline Capital starting in 2015.