He is a Russian businessman famous for being the main owner or shareholder (owned 95% of the shares) and chairman of the board of directors of the United Chemical Company Uralchem. He is currently the former co-owner of Uralchem and former CEO of the company. Earlier, the businessman and his son were on the EU sanctions list and billionaire Dmitry Mazepin has ceased to be the controlling shareholder of Uralkali, so it is very interesting to see how his net worth has fared over what most of the world considers a repentant Russian war on Ukraine!
Dmitry Mazepin: What Is His Net Worth After His Assets Got Frozen?
What is Dmitry Mazepin’s net worth?
According to Forbes, Mazepin’s fortune is now estimated at $800 million. He ranks 150th in the top 200 richest people in Russia. In 2010, Forbes magazine included Mazepin in the list of 100 richest businessmen in Russia, estimating his fortune at $950 million, which is equivalent to 833rd in the world list and 70th place in the Russian ranking. In 2015, he rose to 63rd place in the Russian segment of the Forbes rating, which estimated his fortune at $1.3 billion. In 2017, the fortune increased to $7.7 billion according to Forbes magazine. Let’s take a look at how he accumulated and lost a little bit of his wealth this year:
2022 place in ranking:
According to Forbes, Dmitry Mazepin’s place in the ranking is: #150.
Mazepin sold a 52% stake in Uralchem Basic Chemical Company LLC, which owns UCC Uralchem JSC, one of the largest fertilizer producers in Russia. The buyer of the stake in the company is not disclosed. The businessman owns 48% of the LLC.
In the mid-2000s, Mazepin was drawn into a conflict over the assets of Gazprom, which were sold at the end of 2002 by Nikolai Gornovsky (the director of Mezhregiongaz) by the management of Gazprom. Some of these assets ended up in the ownership of Mazepin after some time. In 2006, Gazprom returned the assets through the court, in particular, 18% of the shares of AHC Azot.
In 2018, one publication claimed that he bought a hotel in Jurmala. His other asset there is the Skonto football club, which was put up for sale in 2017. Moreover, in 2009 there were rumors that Mazepin would move to Latvia altogether and move his head office there. However, the headquarters is now still located in Moscow near the Delovoy Tsentr metro station in the Empire skyscraper. It is part of the Moscow City complex.
Dmitry and Nikita Mazepin own a $105 million villa in Sardinia, Italy through a corporate venture, according to the Italian Financial Guard. This asset is currently frozen in 2022. The villa is located inside Italy within the city of Portisco in the province of Sassari in northern Sardinia estimated at $105 million.
In Italy, the residential property complex owned by Dmitry Mazepin, and his son, former Formula 1 driver Nikita, who fell under Western sanctions, has been seized by the Italian Financial Guard, simply because the financial police considered that the residential complex belongs to a foreign company, which is owned by the Mazepins through their “foreign corporate enterprise”.
After an investigation into the identification of economic assets that belong to persons from the sanctions list imposed by European countries against Dmitry and Nikita Mazepin on March 9 2022. Later, the European Union clarified that after a meeting of businessmen with Russian President Vladimir Putin on February 24, restrictive measures against these individuals were introduced.
In 2012, Mazepin donated $0.7 million of his personal funds to the purchase of cars for families with many children in the Kirov region.
The next year, at the initiative of Mazepin, Uralchem (his company) presented school buses to 19 educational institutions for orphans and children left without parental care, in which more than 1,700 children are brought up.
In 2013, the Russian Forbes included Mazepin in the TOP-7 rating of the leading Russian billionaire philanthropists. Over the year, the financing of social and charitable projects of the URALCHEM company headed by him more than doubled – from more than 90 million rubles in 2011 to 232.3 million rubles in 2012.
Career Timeline In Short:
- Born April 18, 1968) as Mazepin Dmitry Arkadievich in Minsk, Byelorussian SSR, USSR.
- In 1985 he graduated from the Minsk Suvorov Military School, Moscow State Institute of International Relations (Department of Economics). But the same year, he studied to be a military translator.
- Later between 1986-1988 he served in the Armed Forces of the USSR in Afghanistan as an interpreter, but did not take part in hostilities.
- In 1992 he once again went for his studies and graduated from the Faculty of Economics of MGIMO, then worked in the financial sector of Russia and Belarus, was promoted to senior positions in large Russian government agencies and companies:
- From 1992-1993 – he was the GD of the insurance company “Infistrakh”.
- In 1993-1995 – he was the deputy director of the branch CB “Belarusbank”.
- In 1995 – JSCB Falcon, Acting Chairman of the Board, and First Deputy Chairman of the Board.
- From the mid-1990s to 1998, he held senior management positions in government agencies and large oil-producing enterprise companies: OAO Tyumen Oil Company, OAO Nizhnevartovskneftegaz (which is part of TNK), OAO Coal Company Kuzbassugol, and the Russian Federal Property Fund.
- In 1996-1997 – VAO “Raznoimport”, Deputy General Director and the next year Mazepin Dmitry Arkadievich was promoted to Vice President of the Tyumen Oil Company.
- In 1998-1999 – Mazepin Dmitry Arkadievich was the Deputy Chairman of the Board of the Flora-Moscow Bank and by 2001, he was promoted to the position of Advisor to the Chairman, Deputy Chairman of the RFBR (Russian Federal Property Fund).
- In 2001 – Mazepin Dmitry Arkadievich became GD of the coal company “Kuzbassrazrezugol” and then promoted to First Deputy Chairman of the RFBR.
- In 2002-2003, the Russian businessman was appointed head of Sibur in just a few months. After the previous head of the company, Yakov Goldovsky was arrested, the main task set before Mazepin by the leadership of Gazprom was to ensure Sibur was returned to the operational control of the parent company. After spending a little more than six months as head of the company, in February 2003 Mazepin Dmitry Arkadievich was dismissed.
- In 2005, Mazepin Dmitry Arkadievich headed the board of directors of the Kirovo-Chepetsk chemical plant. Then in a fight with the Renova investment group Viktor VekselbergMazepin received another asset: the Halogen plant, and subsequently acquired other assets. In 2007, on the basis of the assets of the Constructive Bureau holding, an open joint-stock company United Chemical Company Uralchem was created and he has been on the board since then. In June 2008, it acquired a 75.01% stake in OAO Voskresensk Mineral Fertilizers. In 2008, Mazepin graduated with a degree in Organizational Management from the St. Petersburg Institute of Economics and Management.
- At the same university, Mazepin Dmitry defended his Ph.D. thesis on the topic “Formation of a methodological approach to managing the fund potential of an oil-producing enterprise” in the same university in 2012. In 2007-2010, Dmitry Mazepin became Chairman of the Board of Directors of Uralchem and received a residence permit in Latvia, where he permanently resides.
- In 2013 Suleiman Kerimov sold a 20% stake in Uralkali to Dmitry Mazepin. The Russian businessman purchased shares in Uralkali for his company Uralchem, and received a loan from VTB in the amount of $4.5 billion for this purpose. By the next year, the management of OAO Togliattiazot openly accused the Russian businessman (the owner of Uralchem) of attempting to take over the company for raids. Dmitry Mazepin was allegedly accused of being the personal wallet of the President of Belarus Alexander Lukashenko and representing his business interests in the Russian Federation.
- Since 2011, he has been a member of Forbes magazine’s “200 richest businessmen of Russia” rating. In 2015, he took 63rd place in this rating with a capital of $1.3 billion (in 2016 and 2017 he was not included in the rating).
- In August 2020, Dmitry Mazepin called on A. Lukashenko to start negotiations with the opposition and create a committee of national salvation.
- As it became known on March 21, 2022, Dmitry Mazepin sold a controlling stake in Uralkali after the European Union imposed sanctions on the Russian businessman.
- 2022: Sale of a controlling stake in Uralkali and Mazepin no longer controls Uralkali
10 Interesting Facts About Dmitry Mazepin:
1. Mazepin no longer holds a position in Uralchem:
As of March 2022, Dmitry Mazepin, a member of the Forbes list, ceased to be the controlling shareholder of Uralkali, and ceased to hold a position in Uralchem, which is a direct shareholder of Uralkali, the press release emphasizes.
The company’s press service reported that Mazepin lost control of the company after the sale of 52% of Basic Chemical Company Uralchem, which has the right to indirectly control 100% of the voting shares, the report said. To whom the share was sold and other details are not given.
2. Mazepin no longer a CEO in Uralchem:
Earlier in March, Mazepin stepped down as Uralchem’s CEO which is a position he held from 2011 to 2018, and since 2021, the businessman who headed the board of directors of the company, who went on to become the new head of Uralchem is now replaced by Dmitry Tatyanin (the new head of the board of directors).
Since March 9th, 2022, 14 businessmen and their families, including Mazepin and his son, former Formula 1 driver Nikita Mazepin, were under the lens of the European Union imposed sanctions against 160 Russians.
3. Love life:
Divorced, he was married to Elena Mazepina with four children, of which only two were his own, and his friend turned out to be the father of another. The scandal in the Mazepin family became public thanks to Russian TV presenter Andrey Malakhov, who published this story on his blog.
4. Office life of Mazepin before leaving and Vasily Malashenkov:
As the CEO of Uralchem, which is owned by the Cypriot legal entity Uralchem Holding, Uralchem is actually the head structure of a large holding, which includes Uralkali, one of the largest producers of potash fertilizers. Before the scandal with the detention of Vladislav Baumgertner in 2013 (then he was a top manager of Uralkali), Uralkali and Belaruskali traded through a common trader. But then there was a conflict and a company breakup. At the end of the story, he became a major shareholder of Uralkali already with Baumgertner. At the end of 2020, Mazepin doubled his stake there.
5. Initially, Mazepin was not a businessman at all, but a regular military man (Afghanistan):
Dmitry Arkadyevich was born in Minsk in 1968. In 1985 the Russian businessman graduated from the Minsk Suvorov Military School. There is no exact data on where he studied after that, but, most likely, in an accelerated course for military translators, after which he was usually given the rank of second lieutenant. As a rule, the military translators were taught Pashto, the main language of Afghanistan. Then they were sent under the Armed Forces of the USSR in Afghanistan as an interpreter, and Mazepin was also there: in 1986-1988, as part of the so-called Limited contingent of Soviet troops. The story goes that the future millionaire was wounded there, awarded the medals “For Courage” and “For Military Merit”.
6. After a long trip to the war, he continued his education:
Graduated from MGIMO and began his career as a manager. In the first half of the 1990s, he worked for several years as a middle manager in the former Belarusian branch of the Savings Bank of the USSR. Then it was called the Savings Bank of the Republic of Belarus (later it became the basis for the creation of Belarusbank). Then he finally left for Russia. The first major post that he took there was the president of the petrochemical holding SIBUR.
7. How he created Uralchem in 2007:
In fact, he created this business by buying up companies that produce mineral fertilizers. Along with Belaruskali, Mazepin’s business has become one of the largest cargo traffic generators for the Baltic ports.
8. Partiality towards Latvia rumors:
Until recently, only Belarusian potash workers transshipped goods mainly through Klaipeda. And Mazepin was more connected with Riga and Ventspils. Because of this, some Russian media have hinted that he is not patriotic enough and is increasingly investing in Latvia, but not in Russia.
9. Famous child:
The businessman has two children, one of whom is the famous Formula 1 racer Nikita Mazepin.
Belarusian oppositionist Nikolai Khalezin claims that Mazepin allegedly participated in financing the election campaign of Valery Tsepkala. But Khalezin did not provide any evidence for this. In addition, following the statement to Office Life on the significance of anonymity, one of the former members of Tsepkalo’s headquarters commented: “Hardly. That’s funny”. Mazepin himself did not comment on Khalezin’s words. But the Russian businessman spoke about another version: about the possible financing of the Nekhta project. “These same authors have already told stories about Nick and Mike, about the Wagnerites, and now someone wanted to develop a story about a Russian company that is related to the financing of the Nekhta project,” Mazepin said, referring to Protasevich’s interview.
Another serious conflict in which Dmitry Mazepin is mentioned was the struggle between the United Machine-Building Plants and the management of Krasnoye Sormovo JSC for the shipyard: in 2000, Mazepin headed the BOD.
Since 2007, Mazepin has been regularly accused of attempting a raider takeover of Togliattiazot OJSC. ToAZ head Sergei Makhlai accused Mazepin of personal threats against him. According to Makhlai, Mazepin threatened him with criminal prosecution if he did not agree to Mazepin’s conditions for the sale of the enterprise. However, Uralchem rejected these accusations as slander, discrediting the business reputation of Uralchem and discrediting the honor and dignity of the head of the company, Dmitry Mazepin.
In May 2014, Mazepin resigned as a member of the Legislative Assembly of the Kirov Region. Some media linked this to a political scandal: Mazepin was accused of being involved in the production of a fake political video directed against competitors, which was shown on REN TV. According to other sources, this decision was influenced by information that appeared in some media that Mazepin was doing business in Ukraine in the context of an acute political Russian-Ukrainian conflict. In Uralchem, the reason for the early termination of deputy powers in the Kirov regional legislative assembly was the high degree of workload.
At the end of 2015, an 18-second video appeared on the Internet, which depicted the governor of the Odessa region, Mikhail Saakashvili and Dmitry Mazepin. The text accompanying the video claimed that the talk between them was about the sale of the Odessa Port Plant. This episode caused a scandal between the Minister of Internal Affairs of Ukraine Arsen Avakov and Mikheil Saakashvili, which took place at a meeting of the National Council for Reforms in December 2015. However, both the Uralchem press service and Saakashvili’s press secretary denied both the very fact of their meeting and their acquaintance in general.
On June 7, 2021, Mazepin stated that he had nothing to do with financing the Belarusian opposition telegram channel Nexta. On June 3, the Belarusian ONT channel aired an interview with an opposition journalist, former Nexta editor-in-chief Roman Protasevich, who was detained after an emergency landing of a Ryanair flight in Minsk. During the interview, Protasevich said that Nexta was sponsored by a company of a well-known Russian oligarch, which is “connected with the Urals and mining.” He did not name either the company itself or the name of the oligarch, but there were suggestions in the media that it was about Mazepin.