Iskander Makhmudov is an Uzbek-born Russian businessman and philanthropist. Yekaterinburg News called him “One of Russia’s most prominent and civically involved industrialists” who has contributed more than $1 billion to social, civic and philanthropic causes since 2001, adding “During the period of Russian rebuilding and economic liberalization, or perestroika, Makhmudov helped lead the country’s transition into a free market, capitalist, wealth- and prosperity-producing economy.”
According to Forbes Magazine, Iskander Makhmudov is the 22nd wealthiest person in Russia. Forbes reported his net worth at $6.5 billion as of June 22, 2014.
Charitable giving
Makhmudov has given over one billion dollars to charitable causes over the past decade, including medical clinics, housing programs, orphanages, and programs for war veterans. According to Yekaterinburg News: “As of 2011, those clinics expanded their operations to serve free of charge not only the children of UMMC employees, but also disabled children, orphans and children from disadvantaged families in the community.”
Iskander Makhmudov Net Worth: Iskander Makhmudov is an Uzbek businessman who has a net worth of $9.3 billion. Mr. Makhmudov generated the majority of his wealth as a founder and the main owner of Uralskaya Gorno-Metallurgicheskaya Kompaniya (UGMK) Holding. It’s the fourth largest non-ferrous metallurgical company and the second largest copper producer by output in Russia. Born Iskander Kahramonovich Makhmudov on December 5, 1963 in Bukhara, Uzbek SSR, he earned a degree in Oriental studies from Tashkent State University, while also becoming a translator by educational background. Upon graduation, Makhmudov put his Arabic-language skills to use working in various Soviet military organizations based in Libya and Iraq. Makhmudov landed his first position in business with the Trans-World Group, the largest metal trader in Russia at the time. He went on to hold several other business positions until he eventually founded UGMK also known as Ural Mining and Metallurgical Company (UMMC) in 1999. Whereas the main source of his wealth comes from his own company, Makhmudov also makes profits from his stake in Transmashholding, the largest maker of locomotives and retail equipment in Russia. Furthermore, Makhmudov established a partnership with state-owned Russian Railways and the French machine-building giant Alstom. As he became more and more eminent profile in the business circles, Makhmudov has also increased his involvement in social, civic and philanthropic causes, having donated more than $1 billion since 2001.
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