Early Life
Alexey Alexandrovich Mordashov was born on September 26, 1965, in Cherepovets, Russia, to parents who were steel mill workers. His family lived modestly, using welfare coupons during his childhood. Mordashov pursued his education, earning a bachelor's degree from the Leningrad Engineering-Economical Institute (now ENGECON) and later an MBA from Northumbria University in Newcastle upon Tyne, England.
Rise to Success
Mordashov began his career at the Cherepovets Steel Mill in 1988 as an economist. He rapidly advanced, becoming the finance director by 1992, just before the company's privatization. Seeing an opportunity, Mordashov formed investment funds and acquired a major stake in the steel mill, eventually becoming the majority shareholder and CEO in 1996. Under his leadership, the company grew into a major conglomerate named Severstal.
Key Business Strategies
Mordashov's business strategy has been marked by vertical integration and strategic control. He expanded Severstal to include coal and iron ore producers and logistics infrastructure to streamline exports. He also invested in rolling mills, energy assets, and port terminals to enhance efficiency and reduce market and political risks. Furthermore, Mordashov diversified his wealth through investments in energy, tourism (TUI Group), and technology, contributing to his substantial net worth.
Philanthropy
Mordashov has been involved in philanthropy, supporting cultural and educational initiatives in Russia. He is also a council member at the Bolshoi Theatre.
