Len Blavatnik Net Worth 2024

Len Blavatnik net worth 2024: Sir Leonard Valentinovich Blavatnik is a British-American business magnate and philanthropist. As of 2024, Forbes listed Blavatnik’s wealth as $37 billion, the 20th-richest in the world. Blavatnik made his fortune after the collapse of the Soviet Union in the tumultuous privatization of state-owned aluminum and oil assets. He owns most of Warner Music Group and has stakes in several publicly traded assets via his company Access Industries Holdings

Len Blavatnik net worth and Biography

Net Worth	$37 billion
Date of birth	June 14, 1957
Occupation	business
Nationality	British-American

As of 2024, Len Blavatnik net worth is valued at $37 billion making him one of the richest people in the world. Blavatnik made his fortune after the collapse of the Soviet Union in the tumultuous privatization of state-owned aluminum and oil assets. He owns most of Warner Music Group and has stakes in several publicly traded assets via his company Access Industries Holdings. Read Rob Walton Net Worth

Biography

Blavatnik was born in 1957 in Odessa, then part of the Soviet Union of the Ukrainian SSR, to a Jewish family. Blavatnik’s parents moved to Yaroslavl, a Russian city north of Moscow, when Blavatnik was a child.

Blavatnik attended Moscow State University of Railway Engineering, but did not complete his coursework due to the family’s request for emigration visas.

At Moscow State University of Railway Engineering, Blavatnik became close friends with Viktor Vekselberg, another Ukrainian Jew.

Len Blavatnik’s net worth is valued at $37 billion

The college was one of the only high-ranking colleges in Moscow to accept Jewish people, who were then subject to widespread discrimination in the country. Vekelsberg would later go on to found Renova Group.

His family emigrated from the Soviet Union to the United States of America in 1978, and he received a master’s degree in computer science from Columbia University’s School of Engineering and Applied Science and an MBA from Harvard Business School in 1989.

In 1986, Blavatnik founded the holding company, Access Industries Holdings, of which he is chairman and president. The New York-based business, which has been described as a “sprawling conglomerate” controls 21% of LyondellBasell, the world’s largest producer of polypropylene.

Through Access Industries Holdings Blavatnik owns most of Warner Music Group and has stakes in several publicly traded assets.

Len Blavatnik’s net worth is valued at $37 billion

After the collapse of the Soviet Union, Blavatnik bought up former state assets in Russia that were privatized by the government.

Blavatnik began his business career by accumulating shares in aluminum smelters in the period of privatisation that followed the collapse of the Soviet Union. He did this via his holding company, Access Industries.

He has been described as a victor in Russia’s “aluminum wars”. Blavatnik made his wealth through the acquisition of these commodities. One of his investments, Sual, later became part of United Company Rusal, the world’s largest aluminium producer.

In 2013, the Russian oil company Rosneft paid AAR $28 billion in cash for its 50% stake in TNK-BP. Their original investment was $8 billion of assets. Up to this point, AAR had taken $19 billion in dividends from the joint venture. The sale represented the liquidation of the majority of Blavatnik’s Russian assets.

In 1999, Blavatnik sought to obtain the competing oil company Chernogorneft, which was being auctioned off under mysterious circumstances. Blavatnik’s TNK company obtained Chernogorneft at $180 million, even though the company had produced $1.2 billion worth of oil the year before.

Len Blavatnik’s net worth is valued at $37 billion

In August 2005, Access Industries bought petrochemicals and plastics manufacturer Basell Polyolefins from Royal Dutch Shell and BASF for $5.7 billion. On December 20, 2007, Basell completed its acquisition of the Lyondell Chemical Company for an enterprise value of approximately $19 billion.

The resulting company, LyondellBasell Industries then became the world’s eighth largest chemical company based on net sales. On January 6, 2009, the U.S. operations of LyondellBasell Industries filed for bankruptcy.

Access Industries purchased the mobile phone technology company Acision from the IT Group Logica for £265 million in 2007. As of 2018, Access Industries owned 60% of Ice Group, Norway’s third-largest telecoms company.