Len Blavatnik Net Worth: A Real Time Update on Richer Life!

Blavatnik is a British-American businessman and philanthropist who was born on June 14, 1957.

After the fall of the Soviet Union, Blavatnik acquired his wealth through the chaotic privatisation of state-owned oil and aluminium businesses.

In addition to owning a majority position in Warner Music Group, and Access Industries Holdings, he also holds stakes in other publicly traded companies.

Adolescence and Schooling

In 1957, Blavatnik was born to a Jewish family in Odesa, which was then part of the Soviet Union. His parents relocated Blavatnik to Yaroslavl, a city north of Moscow in the Russian Federation, as a child.

Due to his family’s need for emigration visas, while studying at Moscow State University of Railway Engineering, Blavatnik was unable to complete his degree.

Viktor Vekselberg, a fellow Ukrainian Jew, became a close friend of Blavatnik’s at Moscow State University of Railway Engineering.

At the time, it was one of Moscow’s few high-ranking institutions to accept Jews, who were then subject to severe persecution in the nation. Renova Group was founded by Vekelsberg in the future.

His family relocated to the United States from the Soviet Union in 1978, and he earned master’s degrees in computer science and business administration from Columbia University’s School of Engineering and Applied Science and Harvard Business School, respectively, in 1989.

Career

Blavatnik created Access Industries in 1986 and currently serves as chairman and president of the New York-based multinational. Europe and North and South America are two of Access’ long-term investments.

Len Blavatnik Net Worth

Viktor Vekselberg and Mikhail Fridman’s Alfa Group founded the Renova investment vehicle, and the two joined forces to form the AAR joint venture.

A variety of sectors have been added to Access’ investment portfolio since then, including energy, media and telecommunications (including cable television and satellite radio), as well as petrochemicals (including petroleum products like plastics).

Access Industries paid Royal Dutch Shell and BASF $5.7 billion in August 2005 to purchase the plastics and petrochemicals firm Basell Polyolefins. Basell finalised its $19 billion acquisition of Lyondell Chemical Company on December 20th of that year.

Access Industries was one of the few bidders for Metro-Goldwyn-Mayer in the early months of 2010. When Blavatnik lost $100 million following Morgan’s recommendation to buy AAA-rated mortgage securities three years prior, he filed suit against JPMorgan Chase in the same year.

As a result of the fall of the Soviet Union, Blavatnik was able to acquire Russian state assets that had previously been privatised.

In the post-Soviet era of privatisation, Blavatnik accumulated ownership in aluminium smelters, which he later sold. Access Industries, his holding firm, was the conduit through which he carried out this transaction. In Russia’s “aluminium wars,” he has been referred to as a winner. By purchasing these items, Blavatnik accumulated riches.

United Company Rusal, the world’s largest aluminium producer, acquired Saul, one of his investments. From 2007 until 2016, Blavatnik served on the board of Rusal as a member of its executive committee and chairman.

For its energy-intensive aluminium productions, the company invested in regional electricity generating stations. Blavatnik admitted to Bloomberg in 2002 that he was considering building his own railroads.

It’s Worth

Len Blavatnik Net Worth

Forbes estimated Blavatnik’s worth at $35.4 billion as of March 2022, making him the 20th richest person in the world.

Blavatnik was awarded the Knighthood in 2017 for his contributions to philanthropy.

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Private Sphere

Emily Appelson Blavatnik is Blavatnik’s wife.

Laila is one of the couple’s four children.
Number 15 Kensington Palace Gardens, which is considered to be “the most expensive street in the world,” is his prized possession. He purchased the property in 2004 and is able to dwell just a few doors down from the Russian ambassador (number 13 on the block).

In addition, he has a Manhattan mansion that is worth an estimated $250 million. Blavatnik is a Trump supporter and a close friend of the late Israeli Prime Minister Benjamin Netanyahu.

Vekselberg, one of Russia’s richest men, as well as numerous other Russian-linked billionaires who have been subject to Western sanctions for their support of totalitarian regimes or criminal activity, are lifelong friends and business partners of Blavatnik.
In addition to his dual British-American citizenship, Blavatnik is also a dual citizen of Russia.

Honours

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Blavatnik was awarded the French Legion d’Honneur chevalier in 2013.

In the 2017 Birthday Honours, Queen Elizabeth II knighted him for his contributions to philanthropy.

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