Viktor Felixovich Vekselberg (born April 14, 1957) is a Russian-Israeli businessman and oligarch. He is the founder and chairman of
Renova Group
Renova Group is a Russian conglomerate (company), conglomerate with interests in aluminium, oil, energy, telecoms and a variety of other sectors. The main owner and president is Viktor Vekselberg who founded the company in 1990.
The Renova Grou ...
, a Russian conglomerate. According to ''
Forbes
''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...
'', as of November 2021, his fortune is estimated at $9.3 billion, making him the 262nd richest person in the world.
[''Forbes'': The World's Billionaires - Viktor Vekselberg]
October 2019 Born in Ukraine, he has Russian, Israeli and Cypriot citizenship.
Early life, family and education
Viktor Vekselberg was born in 1957 to a
Ukrainian Jewish
The history of the Jews in Ukraine dates back over a thousand years; Jewish communities have existed in the modern territory of Ukraine from the time of the Kievan Rus' (late 9th to mid-13th century). Important Jewish religious and cultural move ...
father and a
Russian
Russian(s) may refer to:
*Russians (), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries
*A citizen of Russia
*Russian language, the most widely spoken of the Slavic languages
*''The Russians'', a b ...
mother
in
Drohobych
Drohobych ( ; ; ) is a city in the south of Lviv Oblast, Ukraine. It is the administrative center of Drohobych Raion and hosts the administration of Drohobych urban hromada, one of the hromadas of Ukraine. In 1939–1941 and 1944–1959 it w ...
,
Ukrainian Soviet Socialist Republic
The Ukrainian Soviet Socialist Republic, abbreviated as the Ukrainian SSR, UkrSSR, and also known as Soviet Ukraine or just Ukraine, was one of the Republics of the Soviet Union, constituent republics of the Soviet Union from 1922 until 1991. ...
(although some reports state that he was born in
Lviv
Lviv ( or ; ; ; see #Names and symbols, below for other names) is the largest city in western Ukraine, as well as the List of cities in Ukraine, fifth-largest city in Ukraine, with a population of It serves as the administrative centre of ...
).
Members of Vekselberg's family were killed and buried in a mass grave during the Nazi repressions in Drohobych. Vekselberg's father fought for the Soviet Union during
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
.
Andrew Intrater is Vekselberg's cousin.
In 1979, he graduated from the
Moscow State University of Railway Engineering.
After that, he worked as a researcher and headed the laboratory of the Design Bureau for rodless pumps "Konnas".
Activities
Russian Activities
In 1988, after the Gorbachev administration relaxed restrictions on private business as part of its new policy Perestroika and Glasnost, Vekselberg founded company Komvek, and in 1990, he co-founded Renova Group with college classmates,
Leonard Blavatnik
Sir Leonard Valentinovich Blavatnik ( Ukrainian: Леонард Валентинович Блаватник; born June 14, 1957) is a Soviet/Ukrainian-born British-American businessman and philanthropist. As of April 2025, ''Forbes'' estimated ...
and Vladimir Balaeskoul (later, they both sold their stakes in Renova to Vekselberg). In the mid-1990s, Vekselberg and Blavatnik embarked on accumulating interests in aluminium smelters. The two partners recommissioned production at Irkutsk Aluminium Plant which had been previously suspended. In 1996, they co-founded
Siberian-Urals Aluminium Company (SUAL) by merging of Ural and Irkutsk Aluminium Plants into Russia's first aluminium holding company. (SUAL would later merge with Russian Aluminium of Oleg Deripaska and alumina assets of Glencore to create United Company RUSAL, the world's largest aluminium company). In 2002, SUAL constructed the first private railway in Russia to connect a bauxite mine in the Komi Republic with Ural Aluminium Plant through Trans-Siberian Railroad.
SUAL was the first major Russian company to pursue a consistent social policy in regions, offering support to local communities and small entrepreneurs. As from 2001, SUAL initiated several social and economic partnerships between its aluminium smelters and local municipalities in the regions of their presence. Moreover, SUAL set up a lifetime pension plan for World War II veterans who used to work at the plants that became part of SUAL.
In 1997, Alfa Group (owned by Mikhail Fridman, German Khan, and Alexei Kuzmichev) created with Vekselberg and Blavatnik a partnership for the acquisition of an interest in Tyumen Oil Company (TNK) that later became one of Russia's largest oil and gas companies. In order to jointly hold oil assets, Alfa Group, Access Industries (a company owned by Blavatnik) and Vekselberg's Renova established AAR consortium.
In 2003, AAR and
British Petroleum
BP p.l.c. (formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c.; stylised in all lowercase) is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas " supermajors" and one of ...
(a British-American company then) merged their Russian oil assets in a 50-50 joint venture named TNK-BP, and that was the largest private transaction in Russian history. Acting as the chairman of the executive board of TNK, Vekselberg was instrumental in negotiating and closing the transaction. Vekselberg's indirect participation in TNK-BP amounted to 12.5%.
In the 2000s, TNK-BP was the third oil & gas company in Russia. Among other things, TNK-BP considered construction of a gas pipeline from the
Kovykta gas condensate field through Mongolia to China and South Korea. Also, the original plan also envisaged the possibility to build up a large helium production facility on the basis of Sayanskkhimplast plant to export helium to Asia-Pacific markets. In the middle of 2012, BP started talks with the state oil company Rosneft with a view to selling BP's 50% stake in TNK-BP. Rosneft finalised preliminary approval of a comprehensive deal in early 2013, offering to buy out TNK-BP in its entirety - AAR received cash consideration for its stake, BP received cash and Rosneft shares.
In 2006, Renova Group decided to diversify its business and divest from the oil and gas sector to expand its footprint in manufacturing, hi-tech, and renewable energy. In 2007, Standard & Poor's assigned a 'BB' long-term corporate credit rating to Renova Holding Ltd. and that spoke for the Group's significant progress in portfolio diversification and liquidity improvement.
After divesting from the oil & gas sector, Vekselberg focused on the renewable energy, transport infrastructure, manufacturing, and IoT. Vekselberg became a pioneer in the Russian solar power sector. In 2017, Vekselberg inaugurated Platov International Airport in Rostov-on-Don, the first greenfield airport built in Russia after the collapse of the USSR. Platov airport was closed following Russian invasion against Ukraine. Eurocontrol predicts that the suspension of airports in the South of Russia will last until 2029. In 2019, Gagarin International Airport, the second greenfield airport, was put in operation in Saratov.
The Skolkovo Foundation was established in 2010 as a non-profit organization to encourage Russian innovation and openness of the Russian economy. The Board of the Skolkovo Foundation was led by two elected co-chairs, namely Viktor Vekselberg and ex-Chair of Intel Craig Barrett. As its president, Vekselberg signed a deal for
Cisco Systems
Cisco Systems, Inc. (using the trademark Cisco) is an American multinational corporation, multinational digital communications technology conglomerate (company), conglomerate corporation headquartered in San Jose, California. Cisco develops, m ...
to invest $1 billion over ten years into Skolkovo Foundation projects.
In 2018, Vekselberg stepped down as chairman of Skolkovo Foundation. Lucia Ziobro, assistant special agent in charge of the FBI’s Boston office published in a column of trade journal that the Skolkovo Foundation may being used by the Russian government to gain access to classified American technology.
International activities
In 2004, Renova Group opened a branch in Zurich, Renova Management AG, as a part of the strategic plan to diversify its business towards hi-tech.
In July 2006, Renova Group acquired 10.25% in Unaxis Holding AG (later renamed as OC Oerlikon) from Victory Industriebeteiligung AG, an Austrian conglomerate.
In April 2007, Everest Beteiligungs GmbH, a joint venture of Renova Group and Victory, acquired approximately 18% in shares and additional 14% in physical delivery options in Sulzer.
Later, in 2007 – 2008, Victory sold out their stakes in both companies. In 2009, Renova Group raised its stake in Oerlikon to 44.7%.
This accumulation of stakes in the two flagships of the Swiss economy by the foreign conglomerate raised concerns with the Swiss authorities. Nevertheless, in 2010 the Federal Criminal Court confirmed that neither Vekselberg, nor Victory done any wrongdoing while building stakes in Oerlikon. Later, the Federal Department of Finance dropped the criminal proceedings initiated against the three investors in Sulzer in 2009.
The world financial crisis 2008 fully impacted Oerlikon company in November 2009 when it became apparent that the group would not have enough liquidity to repay loans. The company arranged a bank waiver to negotiate with all lenders and shareholders for a long-term solution and at AGM in April 2010 Renova Group agreed to inject capital in Oerlikon as part of the restructuring plan. Michael Süss, Oetlikon CEO, recently noted it has saved the company, this view is supported by the local expert community.
Because of a strong decline in European metal consumption and a significant decrease in metal prices in the local market Schmolz+Bickenbach (renamed in 2020 as Swiss Steel) meat the covenant breach in November 2012. Next year Renova Group had to be initiated a capital increase in the company for it can continue to develop in the long term and on a solid financial basis.
In March 2017, he was offered citizenship of the Republic of Cyprus due to his investments in the country; however, a spokesperson for Vekselberg reiterated that he only had Russian citizenship.
Sanctions
Vekselberg is one of many Russian "oligarchs" named in the
Countering America's Adversaries Through Sanctions Act
The Countering America's Adversaries Through Sanctions Act (CAATSA) is a United States federal law that imposed sanctions on Iran, North Korea, and Russia. The bill was passed by the Senate on July 27, 2017, 98–2, after it passed the House 41 ...
(CAATSA) signed into law by President
Donald Trump
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...
in 2017.
In March 2018, members from
Robert Mueller
Robert Swan Mueller III (; born August 7, 1944) is an American lawyer who served as the sixth director of the Federal Bureau of Investigation (FBI) from 2001 to 2013.
A graduate of Princeton University and New York University, Mueller served a ...
's team of
special counsel investigators questioned Vekselberg at a New York area airport.
According to journalist Stephen Smith, Vekselberg is close to the
Kremlin
The Moscow Kremlin (also the Kremlin) is a fortified complex in Moscow, Russia. Located in the centre of the country's capital city, the Moscow Kremlin (fortification), Kremlin comprises five palaces, four cathedrals, and the enclosing Mosco ...
.
In April 2018, the
United States Department of the Treasury
The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments.
...
imposed sanctions on Vekselberg and
Renova Group
Renova Group is a Russian conglomerate (company), conglomerate with interests in aluminium, oil, energy, telecoms and a variety of other sectors. The main owner and president is Viktor Vekselberg who founded the company in 1990.
The Renova Grou ...
through designation under ("Blocking Property of Additional Persons Contributing to the Situation in Ukraine"). United States imposed sanctions on him and 23 other Russian nationals in relation to
Russia's annexation of Crimea
Annexation of Crimea may refer to:
* Annexation of the Crimean Khanate by the Russian Empire (1783)
*Annexation of Crimea by the Russian Federation
In February and March 2014, Russia invaded the Crimea, Crimean Peninsula, part of Ukraine, a ...
, officially
freezing
Freezing is a phase transition in which a liquid turns into a solid when its temperature is lowered below its freezing point.
For most substances, the melting and freezing points are the same temperature; however, certain substances possess dif ...
up to $2 billion in assets. Also he has been sanctioned by The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) “for operating in the energy sector of the Russian Federation economy”.
In February 2021, Vekselberg complained that approximately $1.5 billion of his funds were frozen in American and Swiss bank accounts and that he was not allowed to send at least part of them to charity. Between 2018 and 2020 a US business
PURE Insurance
Privilege Underwriters Reciprocal Exchange (PURE) is an American property insurance company established in 2006.
Business model
PURE caters to high-net-worth customers. It offers insurance for homes with a rebuild value of more than one million ...
assisted Vekselberg with $315,891 of transactions in breach of sanctions and was accordingly fined $466,200 by
OFAC in 2023.
On September 1, 2022, several properties believed to be linked to Vekselberg were searched by the FBI and Department of Homeland Security. The inspection included an apartment in Manhattan; an estate in the Hamptons, New York; and property on
Fisher Island in Florida. Officials were seen carrying boxes out of the two New York locations.
In March 2022, following
Russia's invasion against Ukraine, the United States strengthened its sanctions and the UK, Poland and Australia also placed sanctions on Vekselberg, thereby seizing his assets and imposing a travel ban. During the
Lady R incident Vekselberg was noted in the media as a possible source of Russian foreign influence over the South Africa's governing party, the
African National Congress
The African National Congress (ANC) is a political party in South Africa. It originated as a liberation movement known for its opposition to apartheid and has governed the country since 1994, when the 1994 South African general election, fir ...
(ANC), through his 49% ownership stake in United Manganese of Kalahari which is a joint venture with the ANC owned
Chancellor House.
United Manganese of Kalahari made a US$1.3 million donation to the party in 2022.
Seizure of the Motoryacht ''Tango''
Following the
Russian invasion of Ukraine
On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thou ...
, United States President
Joe Biden
Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party (United States), Democratic Party, he served as the 47th vice p ...
signed , "Prohibiting Certain Imports, Exports, and New Investment With Respect to Continued Russian Federation Aggression," an order of economic sanctions under the United States
International Emergency Economic Powers Act
The International Emergency Economic Powers Act (IEEPA), Title II of , is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinar ...
. The order targeted two properties of Vekselberg worth an estimated $180 million: an
Airbus A319-115 jet and the
motoryacht ''Tango''. Estimates of the value of the ''Tango'' range from $90 million (
U.S. Department of Justice
The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the U.S. government that oversees the domestic enforcement of federal laws and the administration of justice. It is equi ...
estimate) to $120 million (from the website Superyachtfan.com).
In April 2022, the yacht was seized by
Civil Guard of Spain and U.S. federal agents in
Mallorca
Mallorca, or Majorca, is the largest of the Balearic Islands, which are part of Spain, and the List of islands in the Mediterranean#By area, seventh largest island in the Mediterranean Sea.
The capital of the island, Palma, Majorca, Palma, i ...
. A
United States Department of Justice
The United States Department of Justice (DOJ), also known as the Justice Department, is a United States federal executive departments, federal executive department of the U.S. government that oversees the domestic enforcement of Law of the Unite ...
press release states that the seizure of the ''Tango'' was by request of
Task Force KleptoCapture, an interagency task force operated through the
United States Deputy Attorney General
The United States deputy attorney general is the second-highest-ranking official in the United States Department of Justice and oversees the day-to-day operation of the department. The deputy attorney general acts as attorney general during the ...
.
The matter is pending in the
United States District Court for the District of Columbia
The United States District Court for the District of Columbia (in case citations, D.D.C.) is a United States district court, federal district court in Washington, D.C. Along with the United States District Court for the District of Hawaii and ...
. The affidavit for the seizure warrant states that the yacht is seized on probable cause to suspect violations of (conspiracy to commit
bank fraud
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many ins ...
), (
International Emergency Economic Powers Act
The International Emergency Economic Powers Act (IEEPA), Title II of , is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinar ...
), and (
money laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds i ...
), and as authorized by American statutes on civil and criminal
asset forfeiture
Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation. It typically applies to the alleged proceeds or instruments of crime. This ap ...
.
Philanthropy
Jewish philanthropy and remembrance of Holocaust
Vekselberg is a Russian Jewish Congress Consul for Countering Antisemitism, a member of the Bureau of the Presidium of the Congress. Vekselberg has provided support to local Jewish communities throughout Russia and Ukraine in the course of the past decades. With his support, Synagogues and Jewish Community centers have been restored, built and renovated in Ekaterinburg, Irkutsk, Novosibirsk, Moscow, and Saratov.
Since the 1990s, Vekselberg has funded the maintaining of the Bronnitsky Wood Memorial near Drohobych to honor the memory of Jews murdered by Nazis during World War II.
He donated $4.5 million to the construction of the $50 million
Jewish Museum and Tolerance Center
The Jewish Museum and Tolerance Center opened in Moscow in November 2012. Construction of the museum is estimated to have cost $50 million.
Features
This museum, dedicated to the complex history of Russian Jewry, uses personal testimony, archi ...
in Moscow, and until February 2021 he was the chairman of the museum's board of trustees. Then Vekselberg was elected as honorary chairman of the board of trustees.
He finances the restoration and construction of
synagogue
A synagogue, also called a shul or a temple, is a place of worship for Jews and Samaritans. It is a place for prayer (the main sanctuary and sometimes smaller chapels) where Jews attend religious services or special ceremonies such as wed ...
s in Russia, including the construction of the Choral Synagogue in Saratov.
In June 2018, a synagoge in Drogobych, Vekselberg’s native town in Western Ukraine, was restored from ruins and reopened its doors to public. Vekselberg financed the restoration works and managed to track down the Torah scroll which had been taken out from Drohobych during the Holocaust and later to be hidden in Israel in 1946. He donated this scroll to the synagogue in the loving memory of his father, Felix Solomonovich Vekselberg.
In 2019, a monument was opened in Moscow to commemorate resistance heroes in concentration camps and ghettos. Vekselberg donated $300,000 to its creation.
In 2020, when the coronavirus pandemic broke out, Viktor Vekselberg donated over 2 billion rubles to buy medical equipment, personal protective equipment, and food for socially vulnerable groups of citizens.
In 2021, Russian Foreign Minister
Sergey Lavrov
Sergey Viktorovich Lavrov (, ; born 21 March 1950) is a Russian diplomat who has served as Minister of Foreign Affairs (Russia), Minister of Foreign Affairs since 2004. He is the longest-serving Russian foreign minister since Andrei Gromyko d ...
awarded Viktor Vekselberg, among other leaders of the
Russian Union of Industrialists and Entrepreneurs
The Russian Union of Industrialists and Entrepreneurs (RSPP), a lobby group based in Moscow, promotes the interests of business in Russia. It has over 1,000 members, including both private and state-owned companies, factories, and foreign and Rus ...
, for helping to bring back Russian tourists from abroad.
Fabergé Museum

In February 2004, Vekselberg purchased nine
Fabergé Imperial Easter eggs from the
Forbes publishing family in New York City. The collection was transported to Russia and exhibited in the
Kremlin
The Moscow Kremlin (also the Kremlin) is a fortified complex in Moscow, Russia. Located in the centre of the country's capital city, the Moscow Kremlin (fortification), Kremlin comprises five palaces, four cathedrals, and the enclosing Mosco ...
and in
Dubrovnik
Dubrovnik, historically known as Ragusa, is a city in southern Dalmatia, Croatia, by the Adriatic Sea. It is one of the most prominent tourist destinations in the Mediterranean Sea, Mediterranean, a Port, seaport and the centre of the Dubrovni ...
in 2007. Vekselberg is the single largest owner of Fabergé eggs in the world, owning fifteen of them (nine Imperial, two Kelch, and four other Fabergé eggs). In a 2013
BBC Four
BBC Four is a British free-to-air Public service broadcasting in the United Kingdom, public broadcast television channel owned and operated by the BBC. It was launched on 2 March 2002 documentary, Vekselberg revealed that he had spent just over $100 million purchasing the nine Fabergé Imperial eggs from the Forbes collection.
He claims never to have displayed them in his home, saying he bought them because they are important to Russian history and culture, and he believed them to be the best jewelry art in the world. In the same BBC documentary, Vekselberg revealed plans to open a museum to display the eggs in his collection.
The result was the
Fabergé Museum in Saint Petersburg, Russia, which had its official opening ceremony on November 19, 2013.
In September 2006, Vekselberg agreed to pay approximately $1 million in expenses to transport the
Lowell House
Lowell House is one of twelve undergraduate Harvard House system, residential Houses at Harvard University, located at 10 Holyoke Place facing Mount Auburn Street between Harvard Yard and the Charles River. Officially, it is named for the Lowel ...
Bells from
Harvard University
Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...
in the United States back to their original location in the
Danilov Monastery
Danilov Monastery (also ''Svyato-Danilov Monastery'' or ''Holy Danilov Monastery''; ) is a walled monastery on the right bank of the Moskva River in Moscow. Since 1983, it has functioned as the headquarters of the Russian Orthodox church and the o ...
and to purchase replacement bells.
Vekselberg paid £1.7 million at a
Christie's
Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, and it has additional salerooms in New York, Paris, Hong Kong, Milan, Geneva, Shan ...
auction in 2005 for ''Odalisque'', a nude said to be the work of Russian artist
Boris Kustodiev
Boris Mikhaylovich Kustodiev (; – 28 May 1927) was a Russian and later Soviet painter and stage designer.
Early life
Boris Kustodiev was born in Astrakhan into the family of a professor of philosophy, history of literature, and logic at t ...
. However, soon after the purchase, experts working for Vekselberg's art fund, Aurora, began to cast doubt on the picture's authenticity. They claimed that Kustodiev's signature, dated 1919, was done in aluminium-based pigment not available until after the artist's death in 1927. Vekselberg sued Christie's, and the judge ruled in July 2012 that he was entitled to recover the £1.7 million that he paid for the painting, plus Christie's was ordered to pay around £1 million in costs.
Personal life
He is married to Marina and has two children, a daughter and a son. His father is Jewish, and his mother Christian. He identifies himself as multi-national and does not attend weekly synagogue or church services. He has also identified as Jewish.
He has a daughter and grandson who live in New York.
Vekselberg reportedly lives in Switzerland.
Notes
References
External links
*
Forbes:Viktor VekselbergRENOVAMade in Russia:Viktor Vekselberg
{{DEFAULTSORT:Vekselberg, Victor
1957 births
Living people
People from Drohobych
BP people
Ukrainian emigrants to Russia
Russian art collectors
Russian billionaires
Russian businesspeople in the oil industry
Russian engineers
Russian individuals subject to U.S. Department of the Treasury sanctions
Russian individuals subject to European Union sanctions
Russian individuals subject to United Kingdom sanctions
Naturalized citizens of Cyprus
Russian oligarchs
Jewish art collectors
Full Cavaliers of the Order "For Merit to the Fatherland"
Articles containing video clips
Russian businesspeople in Cyprus
Russian businesspeople in Israel
Russian people of Jewish descent