Oleg Deripaska

From Wikipedia, the free encyclopedia

Oleg Deripaska

Oleg Deripaska (born 1968) is a Russian billionaire, tycoon, and the Chairman of the Board of RUSAL, a Russian aluminium industry company. His holdings provide him effective control of Russia's profitable metals sector. Though he has generally eschewed politics, Deripaska is considered to be the most well-connected of Russia's oligarchs to President Vladimir Putin.

Oleg Deripaska was born on a small farm in Southern Russia, and graduated with honours from Moscow State University in 1993. In 1996 he graduated from Plekhanov Academy of Economics. He was general manager of Sayanogorsk Smelter (1994-1997) and held the post of president of Sibirsky Aluminium (1997-2001).

In 1999, Deripaska was awarded the Order of Friendship of Peoples by the President of Russia.

In 2005 he was included in the Sunday Times Rich List (on account of the time he spends living in the United Kingdom) with an estimated wealth of £4,375m, but was not listed in 2006. However, according to an August 2006 article in the New York Times, the Russian business newspaper Vedomosti has estimated Deripaska's total wealth at $14 billion, which, if true, would either make him Russia's richest man or possibly tied for the spot with fellow multibillionaire oligarch Roman Abramovich.^[1]

In September 2006, Deripaska was rumoured to be interested in buying Arsenal F.C. for £350m.^[2] However, Arsenal subsequently denied these claims.^[3]

He has also been linked to the Russian silver mining company Polymetal.^[4]^[5]

A law suit against Oleg Deripaska was filed in the Commercial Court of the High Court in London on 24 November 2006 by Michael Cherney, who had introduced Deripaska to the metals business by making him his manager and then his partner. Cherney is seeking $3 billion, which, he claims, represents 20 per cent of Rusal's stock for which he has yet to be paid.

Sources in Moscow allege that Oleg Deripaska is behind a new Russian media campaign that is targeting Michael Cherney. They also allege that the campaign is designed to send a message to the latter: a new criminal investigation against Cherney may be initiated in Moscow as a retaliation for his suit against Deripaska.