Alex Shnaider

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Alex Shnaider (born 1969) is a Russian-born Canadian Jewish businessman and billionaire. He is co-founder with Eduard Shifrin of the Midland Group.

He was educated at York University in Toronto and is Canada's youngest billionaire.

He was named Chairman of the Royal Laser Corporation in May 2006.

[edit] Formula One

Shnaider bought Jordan Grand Prix from Eddie Jordan in the middle 2005 for $60 million, and renamed it Midland F1 Racing for the 2006.

Shnaider was originally going to start the team from scratch, however he purchased Jordan Grand Prix to guarantee his entry into the Formula One world championship without having to pay the bond that otherwise would have been necessary. Almost as soon as he bought the team, it was rumoured that he was unhappy with his purchase. For the 2005 season very little development work was done on the cars, while a technical partnership for 2006 with Dallara failed, as did a plan to set-up a Midland Formula Three team to develop young Russian drivers

On 9 September 2006, it was revealed that the team had been sold to Spyker Cars.^[1] Spyker paid $106.6 million for the team. On 10 September ITV commentators said that Shnaider was no longer involved in the team since the announcement of the sale.

[edit] References

[edit] External links

• Midland Group
• Billionaires:Man of Steel (Forbes)
• Billionaire businessman key supporter of Russian community (Canadian Jewish News)
• Steeled for success (LifeStyles magazine)
• Fast Money (AutoNet.ca)
• Russian-Born Canadian Buys F1 Team (Moscow Times)
• Midlandia Photo of Shnaider's megayacht at the Monaco GP