Mordashov vs Jindal
Severstal and JSW Steel.
The differences
- Forbes puts Savitri Jindal about $1.4B ahead of Alexey Mordashov.Forbes figures from 9 Oct 2026 and 9 Oct 2026.
- Alexey Mordashov: built it up. Savitri Jindal: through marriage.
- Savitri Jindal is about 15 years older than Alexey Mordashov.
- Alexey Mordashov is from Russia; Savitri Jindal is from India.
- Savitri Jindal has held a public or government advisory role; Alexey Mordashov has none on record.
Put someone else on either side
Side by side
Mordashov
JindalThe money
- Net worth, Forbes
- $36.9BForbes, 9 Oct 2026
- $38.3BForbes, 9 Oct 2026
- Net worth, Bloomberg
- $27.6BBloomberg, 17 Oct 2026
- $32.7BBloomberg, 17 Oct 2026
- Forbes rank
- No. 61Real-Time list, 9 Oct 2026
- No. 55Real-Time list, 9 Oct 2026
- Billionaire since
- Not stated
- Not stated
Where it came from
- How it started
- Built it upJoined the Cherepovets steel mill as an economist in 1988, became finance director in 1992 and CEO in 1996; Bloomberg says he built his majority stake through two investment funds that bought workers' shares after the 1993 privatisation
- Through marriageTook over as chair of the O.P. Jindal Group and control of her husband's stake after his death in 2005; he founded the group in 1952
- Main source
- Severstal stockBloomberg: the majority of his fortune comes from his 77% stake in Severstal; it also values Nordgold, Power Machines and Lenta
- O.P. Jindal Group: stakes in JSW Steel, JSW Energy, Jindal Steel & Power, Jindal Stainless, Jindal Saw, JSW Infrastructure and JSW Holdings
- Companies
- SeverstalSeverstal: Chairman of the board
- JSW Steel, Jindal StainlessJSW Steel: None stated; run by her son Sajjan Jindal; Jindal Stainless: Chairperson emeritus of the O.P. Jindal Group, listed on the board page
- Biggest stake
- Severstal77% owned
- JSW SteelStake not stated
The person
- Born
- 26 Sep 1965Cherepovets, Russia (then the Soviet Union)
- 20 Mar 1950Tinsukia, Assam, India
- Country
- RussiaLives in Moscow, Russia
- IndiaLives in Hisar, India
- Education
- Graduate degreeLeningrad Engineering and Economic Institute (1988); MBA, Northumbria University (2006)
- No universityMatriculation
- Parents
- Both parents were steelworkers at the Cherepovets mill
- Not stated
What they give
- Giving Pledge
- Not a signer
- Not a signer
- Foundation
- Way Home Charitable FoundationSet up by Severstal in 2005; Severstal says he personally oversees its programme
- Not stated
- Lifetime giving
- Not stated
- Not stated
Role and record
- Role now
- Chair of the boardChairman of Severstal and of Severgroup
- Chair of the boardChairperson emeritus of the O.P. Jindal Group; member of the Haryana Legislative Assembly for Hisar
- Successor
- Alexander Shevelev is CEO of SeverstalNo family member is named in a Severstal executive role in the cited sources
- Her four sons run the group's companies independently: Prithviraj (Jindal Saw), Sajjan (JSW Group), Ratan (Jindal Stainless) and Naveen (Jindal Steel)
- Public office
- None found
- Member of the Haryana Legislative Assembly for Hisar; Haryana power minister; Haryana minister of state for revenue, disaster management, rehabilitation and housing; Haryana minister for urban local bodies; Member of the Haryana Legislative Assembly for Hisar2005-2014; until 2009; 2006; 2013; 2024-
- Legal record
- 2022: Council of the EU; 2022: US Treasury (OFAC); 2023: EU General CourtListed under EU restrictive measures concerning Russia in 2022; the EU listing describes him as a Russian businessperson with close links to the Russian government. Designated by OFAC on 2 June 2022 under Executive Order 14024 (Russia). The 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.
- 2013: Punjab and Haryana High CourtThe court directed her to vacate her official residence, held after her term as power minister ended in 2009, and imposed a penalty.
