65. Dmitry Mazepin

Dmitry Mazepin
Age 53
Occupation Owner and Chairman, Uralchem
Nationality Russian
Position Last Year New

Dmitry Mazepin was born on April 18, 1968, in Minsk, graduating from the Suvorov Military Academy in Minsk in 1985. He then served as a military interpreter in Afghanistan between 1986 and 1988.

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He graduated from the MGIMO University’s Department of Economics in 1992 before going to work in the financial sector of Russia and Belarus and ultimately taking executive positions at major Russian private and government-owned companies TNK and Sibur.

He graduated from the Saint Petersburg Institute for Economics and Management in 2008 with a first-tier university degree in Organization Management. He earned his PhD from the same school in 2012 after defending a thesis on developing a methodical approach to managing the stock market potential of an oil-producing company.

Dmitry Mazepin was the CEO of Infistrakh, an insurance company, from 1992 to 1993. For two years afterwards, he held the deputy branch manager position at Belarusbank, before holding several executive positions at Falkon Bank in 1995. From 1996 to 1997 he was the deputy CEO of Raznoimport, a commodities trader.

His first major corporate assignment came in 1997 as well, with his appointment to the Vice-President position of TNK, the Tymen Oil Company. The company had just acquired Nizhnevartovskneftegaz as a subsidiary and Mazepin was made it’s Executive Director in charge of making the firm profitable again. According to an interview in 2009, Mazepin ultimately succeeded in making Nizhnevartovskneftegaz loss-free.

After that, Mazepin was the Deputy President of the Board of Flora Moscow Bank between 1998 and 1999, was the CEO of coal producer Kuzbassugol, and was then named First Deputy Chairman of the Russian Federal Property Fund in 2002.

In 2004, Mazepin created his own company in the sector after leaving Sibur. Constructive Bureau, a company controlled by Mazepin, acquired a majority stake in Kirovo-Chepetsk Chemicals Plant in a public auction, outbidding Gazprom. Mazepin became chairman of the board of the plant in 2005. Constructive Bureau later also acquired stakes in Perm-based joint-stock companies Halogen and Minudobrenia, Berezniki Azot and Volgograd-based Khimprom (transferred to Renova in 2006).

In 2007, all assets under Mazepin’s control were combined to form Uralchem United Chemicals Company, a public joint-stock company and Mazepin became the Chairman of the Board of Directors of Uralchem.

in December 2013, Mazepin acquired a 20% stake in the world’s largest potash producer, Uralkali, in a deal that was estimated to be worth $2.9 billion. The acquisition was financed with a $4.5 billion loan from VTB. A month before, Mikhail Prokhorov had also bought a 21.75% stake in the company from Suleiman Kerimov. Mazepin took operating control over the company at that time, winning a seat on the Uralkali Board of Directors in March. Since 2014, he has also been the Deputy Chairman of the Board of Directors of Uralkali.

Dmitry Mazepin and Uralkali made a bid for the Force India Formula One team following its fall into administration in July 2018. Having lost out to a Canadian consortium led by Lawrence Stroll, Mazepin openly criticized the bidding process having allegedly never been contacted by the administrators over his bid.

His son Nikita is a racing driver competing in Formula One for the Haas F1 Team on a multi-year deal. Prior to signing for Haas, Nikita briefly served as a development driver for the Force India F1 team.

Dmitry Mazepin is on the board of the All Russian Swimming Federation.

Forbes magazine placed Dmitry Mazepin on the list of Russia’s 100 wealthiest businessmen in 2010, estimating his personal fortune at US$950 million. His fortune was estimated at US$1.4 billion in 2014 and $1.3 billion in 2015.

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