RussiaBuilt it up
Alexey Mordashov
Alexey Mordashov is chairman and majority shareholder of the Russian steelmaker Severstal, where he started as an economist in 1988 and built his stake during privatisation; he also holds Nordgold, Power Machines and other investments.
- Forbes estimate
- $36.9B
- Forbes, 9 Oct 2026
- Forbes rank
- No. 61
- 9 Oct 2026
- Stake in Severstal
- 77%
- Net worth, Bloomberg
- $27.6B
- Bloomberg, 17 Oct 2026
- Born
- 26 Sep 1965
- Cherepovets, Russia (then the Soviet Union)
- Education
- Graduate degree
- Leningrad Engineering and Economic Institute (1988); MBA, Northumbria University (2006)
- Giving Pledge
- Not a signer
Where the fortune sits
Severstal stock
Severstal
steel and steel-related mining
Bloomberg, held through 'Russian structures' per Severstal's website as of April 2026; the 2020 annual report says he indirectly controlled 77.03% at 31 December 2020
Severstal website, as read by Bloomberg; Severstal Annual Report 2020, undefined Apr 2026
Chairman of the board
Other holdings
Nordgold
Gold miner spun off from Severstal in 2012; part of his stake was transferred to his partner Marina in 2022, which Bloomberg still credits to him
Power Machines (Siloviye Mashiny)
Power-generation equipment maker; he raised his stake to more than 95% in 2011
TUI
Bloomberg credits him with 10.9% (TUI's website, May 2024); TUI said in March 2022 that Marina Mordashova controls Ondero Limited, which holds 29.9% via Unifirm
Lenta, Sveza and a minority stake in Rostelecom
Investments listed by Bloomberg; stakes not stated
Where Alexey stands among 73
Everyone on the site, grouped by their answer. Alexey Mordashov is outlined.
How the fortune started
Built it up
Built it up 8
Founded it 42
Inherited and grew it 12
Inherited it 6
Through marriage 5
Industry
Metals and mining
Metals and mining 6
Technology 24
Finance 10
Several industries 9
Retail 4
Fashion and beauty 4
Media 3
Food and drink 3
Shipping 3
Crypto 2
Oil, gas and chemicals 2
Healthcare 1
Casinos and resorts 1
Property and sports 1
Giving Pledge
Not a signer
Not a signer 61
Signed 11
Not stated 1
Education
Graduate degree
Graduate degree 24
Bachelor's degree 27
Left university without a degree 6
No university 5
Not stated 11
Role today
Chair, board or owner
Chair, board or owner 25
Runs the company 32
Founder, no executive role 8
No role 4
Retired 4
The person
- Born
- 26 Sep 1965Cherepovets, Russia (then the Soviet Union)
- Citizenship
- Russia
- Lives in
- Moscow, Russia
- Education
- Graduate degreeLeningrad Engineering and Economic Institute (1988); MBA, Northumbria University (2006)
- Parents
- Both parents were steelworkers at the Cherepovets mill
What they give
- Giving Pledge
- Not a signer
- Foundation
- Way Home Charitable FoundationSet up by Severstal in 2005; Severstal says he personally oversees its programme
- Lifetime giving
- Not stated
Role and record
- Role now
- Chair of the boardChairman of Severstal and of Severgroup
- Successor
- Alexander Shevelev is CEO of Severstal
- Public office
- None found
- Legal record
- 2022, Council of the EUListed under EU restrictive measures concerning Russia in 2022; the EU listing describes him as a Russian businessperson with close links to the Russian government.
- 2022, US Treasury (OFAC)Designated by OFAC on 2 June 2022 under Executive Order 14024 (Russia).
- 2023, EU General CourtThe General Court dismissed his challenge to the EU restrictive measures (Case T-248/22) on 20 September 2023 and ordered him to pay the costs.
