Mikhail Gutseriyev

Mikhail Gutseriev
Born	gandia (1958-03-09) 9 March 1958 Tselinograd, USSR
Residence	Moscow, Russia
Nationality	Russia
Alma mater	Gubkin Russian State University of Oil and Gas Plekhanov Russian University of Economics
Occupation	Entrepreneur Businessman
Net worth	US$6.2 billion (March 2016)
Spouse(s)	Heena
Awards	Order of Friendship Order of the Badge of Honour

Mikhail Safarbekovich Gutseriev (Russian: Михаи́л Сафарбе́кович Гуцери́ев; born 9 March 1958) is a Russian entrepreneur, businessman and poet.

He is the owner of "Russneft", NK "Neftisa", OAO "Russian Coal", ZAO "Mospromstroy" and also GCM Global Energy, a British company, with annual revenue of $1 billion controlling large oil assets in Kazakhstan and Azerbaijan. Gutseriev also owns large assets in real estate including the "National" Hotel and luxury shopping centres such as Petrovskiy, Smolenskiy and Novinskiy Passage. In 2012. Gutseriev began to invest into the media business, and has acquired seven radio stations thus far.

According to Forbes, Gutseriev has a personal fortune of $6.2 billion as of March 2016, up from $2.4 billion the previous year.^[1]

Early life

Gutseriev was born into an Ingush family with many children in Tselinograd (now named Astana), in the then Kazakh Soviet Socialist Republic. He graduated from high school in Grozny.

He began his career as a porter, while taking night courses at Dzhambulsky Technological Institute, majoring in chemical engineering. Later, he got degrees from the Moscow-based Finance Academy as well as the Gubkin Russian State University of Oil and Gas. He also got graduate degrees from Saint Petersburg Law Institute, including a Ph.D. from the Plekhanov Russian Academy of Economics. He holds degrees in law and a Ph.D. in economics, majoring in free economic zones.^[2] Gutseriev also holds awards for Academician of "Russian Academy for Natural Sciences", Academician of Russian Academy for Social Sciences, Academician OF International Academy of Economics and Law.

Business and political career

From 1976 to 1992 he worked his way up from laborer to General Director in the Grozny Industrial Association. Gutseriev was a pioneer in the private banking sector in the Soviet Union—in the late 1980s he founded one of the first cooperative banks in the country.

In 1992 he started B.I.N. Bank, an industrial-financial company, in Moscow, bringing together industrial enterprises, trading companies, and financial institutions.

In 1994 he was named administrative head of the Ingushetia economic aid zone, a Russian Federation government appointment.

In 1995 he was elected deputy to the State Duma, where he acted as a Deputy Chairman.

In 2000 he was elected to the State Duma, this time as an independent candidate for District 12.

On 14 January 2000 Gutseriev was elected president of NGK Slavneft OAO at a shareholders meeting.

On 27 February 2001 he was elected vice-president of the Russian Union of Industrialists and Entrepreneurs.

In September 2002 he started and ran Russneft.

By 2007, Russneft was in the top-10 for Russian oil companies, with oil production of 14.8 million tonnes per year (300,000 bbls/day), 2 refineries and the biggest network of retail stations. At this point, Russneft's yearly net profit was in the region of $1Bn.

A non-profit charitable organization "Charity Fund- SAFMAR" was established 16 September 2013. The fund was established by JSC "RussNeft", headed by Mikhail Gutseriev. This organization continues church-building projects and restoration of churches; along with other culture, arts, and education endeavors in Russia.

In May 2017 Bloomberg News Service published an article reporting Mikhail Gutseriyev having purchased control of several businesses. These are in the area of e-commerce and brick and mortar retail with the intention of doing a roll up to offer nationwide private delivery service.^[3]

Family

Guteriev is married, and had one daughter and two sons.^[4] His eldest son, 22-year-old Chingis Gutseriev died suddenly at home on 22 August 2007. On this day he had been involved in a minor car accident. After which he made his way home, called relatives to say that he was fine, went to sleep, and died from heart failure. There was no data on a car accident in the bulletins of the Office of Internal Affairs.^[5]

His youngest son, Said, was educated at Harrow School and Oxford University. On 26 March 2016, 28-year-old Said Gutseriev married 20-year-old student Khadija Uzhakhova in Moscow. The lavish wedding party was rumoured to have cost up to $1 billion, with the bride wearing a $1 million dress designed by Elie Saab, and Jennifer Lopez, Enrique Iglesias and Sting among the performers.^[6]

Fight

In 2007, Gutseriyev fell into a conflict with Murat Zyazikov, the president of Ingushetia. At the end of July 2007, Mikhail Gutseriev publicly revealed that unprecedented pressure was being put on him by the Russian government, and announced the sale of Russneft to Bazovy Element (Basic Element), a holding company owned by Oleg Deripaska, a businessman loyal to the Kremlin. Gutseriev quit his post as president of Russneft and announced his retirement from business activities (aside from Russneft, he held a 50% stake in a company named Russian Coal, etc.), and his entry into science.^[7][8]

According to some sources, the pressure brought to bear on Mikhail Gutseriev by the Russian power structure was a result of his financial opposition to the current president of Ingushetia, Murat Zyazikov.^[9]

On 18 October 2008, Gutseriev was believed to be living in Great Britain and Russia had requested his extradition.^[10]

Arrest warrant

On 28 August 2007 the Tver Court in Moscow issued a warrant for the arrest in absentia of Gutseriyev in response to a petition from the investigative committee of the Ministry of Internal Affairs of the Russian Federation.^[11]

The arrest warrant was cancelled by the court on 27 October 2009.^[12] The charge of tax evasion was dropped, and that led to his warrant being cancelled, but he apparently still faces the charge of "illegal entrepreneurship" (the top punishment on that charge is below 5 years, house arrest is the usual measure for "less serious" crimes like that and arrest warrants are not issued.)^[13]

Return to Russia

In 2010, after all charges were dropped against him, Gutseriyev returned to Russia. He subsequently bought back his old oil company Russneft.^[14] Other oil companies he owns include Neftisa.^[15] He has bought a number of hotels in central Moscow.^[16]

Government and social awards

The Order of Friendship, the Order of the Badge of Honour, the Medal "For Labour Valour", the Medal "For Distinguished Labour" and the FSB Medal "For Distinction in Special Operations". He won the Peter the Great National Prize, as well as being named "Best Mayor of the Year" by the magazine Kompaniya. Mikhail Gutseriev was honored with the Philanthropist of the Year of Culture award in 2014, as Saratov region proposed his candidacy for his support of the expansion of Saratov Regional College of Art.,^[17]

For widespread charitable aid to religious organizations, war veterans, orphanages, educational and cultural organizations Mikhail Gutseriev has been awarded with order signs, diplomas and letters of gratitude from President of the Russian Federation, President of the Belarus Republic, Patriarch of All Russia, Chairman of Russia Muftis Council, Chief Rabbi of Russia and Jewish Communities Federation leaders, officials of a number of Russian regions, leaders of some state, public and power organizations of this country. He is trustee of Moscow's Jewish Museum and Tolerance Center.

Mikhail Gutseriev has authored papers and a series of scientific publications on the problems of development of free economic zones and off-shore business in Russia.

He also holds a degree in athletics for the decathlon.

See also

• List of Russian billionaires

References

External links

• Official Biography
• NK Russneft
• Article by Gutseriev explaining reasons for leaving Russneft (in Russian)