Vladimir Potanin Net Worth And Biography(Interesting Facts and secret about Vladimir Potanin)

Vladimir Olegovich Potanin is a Russian business oligarch. He acquired his wealth notably through the controversial loans-for-shares program in Russia in the early to mid-1990s.

Vladimir Potanin Net Worth And Biography

What is Vladimir Potanin net worth and biography ? Vladimir Olegovich Potanin is a Russian business oligarch. He acquired his wealth notably through the controversial loans-for-shares program in Russia in the early to mid-1990s.

Net Worth:$30 Billion
Age:60
Born:January 3, 1961
Country of Origin:Russia
Source of Wealth:Former First Deputy Prime Minister of Russia
Last Updated:2021

Introduction

Vladimir Potanin is a Russian billionaire, entrepreneur, and oligarch.

Potanin acquired his wealth notably through the controversial loans-for-shares program in Russia in the early to mid-1990s. He is one of the wealthiest men in Russia. Today he has stakes in pharmaceutical company Petrovax Pharm and ski resort Rosa Khutor, near Sochi.

As of 2021, Vladimir Potanin’s net worth is roughly $30 billion.

Vladimir Potanin Childhood & Early Life

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Vladimir Olegovich Potanin was born on January 3, 1961, in Moscow, Russia, into a prominent communist family.
In 1983, he graduated from the ‘Moscow State Institute of International Relations’ (MGIMO). The institute trains candidates for the ‘Ministry of Foreign Affairs.

Vladimir Potanin Career

Immediately after his graduation, he started working with ‘Soyuzpromexport‘ (‘FTO’) for the ‘Ministry of Foreign Trade of the Soviet Union.’
He served the ministry until 1991, after which he quit to establish ‘Interros.’
In the early 1990s, he and his long-term business partner Mikhail Prokhorov used the “loans for shares” scheme to take over ‘Norilsk Nickel‘ by acquiring 54% of the total shares of the company.
Over time, they turned the company into a corporate organization with a modern outlook.
He was appointed as the president of the ‘United Export Import Bank‘ in 1993.
Potanin had a significant role in the formation of the “loans for shares” program, which became the cornerstone of Russia’s post-Soviet reforms.
Between August 14, 1996, and March 17, 1997, he served as the first deputy prime minister of the Russian Federation.
He became the president and the chairman of the board of directors of ‘Interros‘ in August 1998 and continues to serve in that position.
The construction of his ‘Rosa Khutor Alpine Ski Resort’ in Mzymta Valley, near Sochi, Krasnodar Krai, Russia, began in 2003 and was completed in 2011. He invested over $2 billion for the massive project.
He was made the head of the ‘National Council on Corporate Governance’ in March 2003. The council’s objective was to improve the ethical and professional standards of corporate governance in Russian businesses and to improve the reputation of the Russian business environment.
He initiated a leopard breeding program in the valley in 2005 and funded it with $500,000.
In 2007, he severed his business ties with Prokhorov after the French authorities briefly arrested the latter on allegations of prostitution.
Potanin offered to buy his stakes in ‘Norilsk Nickel‘ for around $1 billion. Prokhorov was willing to sell his 25% stake in the company at a sum of $15 billion, which Potanin refused.
The following year, Prokhorov approached Oleg Vladimirovich Deripaska of ‘United Company RUSAL‘ and requested him to acquire his stake in ‘Norilsk Nickel.’ This move of his further strained his relationship with Potanin.
After the deal between Prokhorov and Deripaska was sealed, Deripaska and Potanin got into an ownership feud.
Both wanted to take control of ‘Norilsk Nickel.’
In March 2009, Potanin filed a lawsuit against his former business partner, Prokhorov, for $29 million, over a property dispute in Moscow.
The ownership conflict between Potanin and Deripaska was put to rest after Roman Arkadyevich Abramovich intervened in the matter in 2012.
Abramovich bought 6.5% of the stakes of ‘Norilsk Nickel’ and brokered peace between the warring oligarchs. As a result of the deal, Potanin became the CEO of the company, as his share amounted to around 30%.
The ‘Rosa Khutor Alpine Ski Resort’ hosted the ‘Winter Olympics’ in 2014. Potanin claimed that to meet the requirements of the ‘International Olympic Committee,’ the resort had incurred a cost overrun of $530 million and thus sought remuneration from the Russian government.
In 2016, he invested $300 million in ‘Digikala,’ the biggest e-commerce startup in Iran. Through his fund, the ‘New Winter Capital Partners,’ he bought shares of ‘Pomegranate,’ which held shares in numerous Iranian internet companies, including ‘Digikala.’
Potanin proposed to buy 4% of Abramovich’s stakes in February 2018. However, this proposal is awaiting court approval due to the possibility of breach of the agreement in 2012.
He joined the lobby group of the ‘Russian Union of Industrialists and Entrepreneurs,’ which has proposed an alternative for cryptocurrency regulations in 2018.
He also holds shares in the pharmaceutical company ‘Petrovax Pharm.’

Vladimir Potanin Family & Personal Life

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Potanin was initially married to Natalia Potanina and had three children with her. They divorced in 2014.
The same year, he married Ekaterina, also known as Yekaterina Potanina. He has a child with her.
The divorce settlement between him and Natalia is yet to be settled amicably.
He is closely acquainted with Russian president Vladimir Putin, who has also been involved in the business dealings of Potanin.
In January 2018, his name appeared on the ‘U.S. Treasury’s ‘Putin List‘ that had names of 210 people with strong links to Putin.

Some Unknown Facts about Vladimir Potanin

  • Does Vladimir Potanin Smoke? Yes
  • Does Vladimir Potanin Drink Alcohol? Yes
  • Vladimir Potanin takes great care of his health. Vladimir Potanin eats food before 9 in the night.
  • Vladimir Potanin is very fond of playing volleyball and tennis.
  • Vladimir Potanin loves watching TV and movies.
  • Vladimir Potanin himself has said that his crush is Vladimir Potanin. Whom he has loved since childhood.

 

Vladimir Potanin Projects

  • 1990 – President of the Interros Foreign Trade Association.
  • 1992-1993 – President and founder of commercial bank International Company for Finance and Investments
  • 1993 – President of JSCB ONEXIM Bank
  • 1995 – owner of a controlling stake in Norilsk Nickel
  • 1996 – Member of Svyazinvest Board of Directors
  • 1997 – Potanin established the holding company Prof-Media (Izvestiya, Komsomolskaya Pravda, Afisha and Bolshoy Gorod)
  • 1998 – Chairman of the holding company Interros Board of Directors (Interros, Norilsk Nickel, and Sidanko)
  • 1999 – Potanin established a non-profit charitable organization the Vladimir Potanin Foundation
  • 2000’s – he began construction and development of the Ski resorts Krasnaya Polyana, which later became part of the venues of the XXII Olympic Winter Games
  • 2001 – Member of the Board of Trustees of the Solomon R. Guggenheim Foundation
  • 2002 – Chairman of the Board of Directors of the Hermitage-Guggenheim Charitable Foundation
  • 2003 – Chairman of the Board of Trustees of the State Hermitage
  • 2006 – Head of the Charity Commission
  • 2008-2010 – Potanin headed NPO legislation improvement projects
  • 2013 – the first Russian entrepreneur who joined the Giving Pledge charitable organization

Favorite Quotes From Vladimir Potanin

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“Frankly speaking, I decided to become a businessman at the moment when I understood that it is possible because I grew up in a country where it was not possible. There existed even a special article in the penal code of the Soviet Union which punished entrepreneurial activity.” – Vladimir Potanin 

“After I met my partner, Mr. Protherow, we decided to start a banking project, and at the same time, we started to think already about a business on a bigger scale. At the very beginning we thought more about gaining money, to have a normal life with our families, etc.” – Vladimir Potanin 

“Everybody starts with creating or acquiring certain property to create the material to work with. When we started our business, we thought first of all about development, how to grow, and we managed to do this, even with all the difficulties and all the difficult rules that were implemented in Russia at that time.” – Vladimir Potanin 

“For a rich and reasonably successful guy, it is impossible not to enjoy your job; otherwise, why would you spend so much time and effort doing it? I am a great fan of Norilsk, and I like this kind of challenge.” – Vladimir Potanin 

“On the other hand, there is an issue of motivation and responsibility. If you inherit considerable capital, you will probably not be motivated to win your own bread, which is not good. People should be motivated. They should struggle to achieve something and properly appreciate that.” – Vladimir Potanin  

Lessons From Vladimir Potanin

Now that you know all about Vladimir Potanin’s net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him:

Patience Is A Virtue

The reality is business owners must learn to let go of the control and surrender just as often as they need to keep working.

Resilience Is Key

You need to have an insane amount of resilience. Ask any successful business owner, and they will tell you that things go wrong all the time.

Know When To Quit

Knowing when to quit on a project is just as important as knowing when to keep going.

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