11. Dmitry Mazepin

Dmitry Mazepin
Age 53
Net worth $4,5bn
Source of wealth Uralchem
Nationality Russian
F1 involvement Team sponsor

Mazepin is often described as a Russian oligarch born in Belarus who made his fortune in the Russian chemical and fertilizer industries through his ownership of Uralchem and potash fertilizer company Uralkali.

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These positions make him one of the most critical players in the Russian chemicals and fertilizer industries, which are among the most important sectors in Russia.

His net worth is hard to ascertain, with estimates ranging from $1.3 billion to $7.1 billion, but he has a sizeable bank account either way!

There have been numerous scandals and investigations over the years into Mazepin’s business dealings that question his tactics and corporate governance.

Recently, Mazepin has been in the international and Russian press as he has been active in Belarusian affairs – he proposed forming a committee in Belarus that would mediate between protesters and the Lukashenko government.

Some sources speculate this is part of a move to take over Belaruskali, the state fertilizer company.

Mazepin has embarked on an aggressive African expansion in Zambia, Angola, Zimbabwe, and several other African countries.

He is now Chairman of the Russia-Zimbabwe Business Council as part of the Kremlin’s efforts to expand Russian influence in Africa.

His companies Uralchem and Uralkali have significant investments in Zimbabwe, Zambia, and Angola, aligning with the Kremlin’s strategy to grow its influence in Africa.

It will be of interest to Mazepin that F1 is closely looking at hosting a race in the African continent.

In the interests of balance, it is worth noting Mazepin is one of Russia’s most prominent philanthropists, who supports, among other things, sports and has bought school buses for poor regions.

In 2012 he purchased $700,000 worth of cars for large, low-income families.

Mazepin holds a PhD in Economics.

Mazepin’s first involvement with F1 was his attempted purchase of the Force India team back in 2018, in which he lost to one Lawrence Stroll.

Mazepin fought back and filed a lawsuit claiming tender irregularities by the bid administrators overseeing the team’s sale.

He said that the team that provided a lower offer won the bid, and as a result, Force India shareholders’ interests and profits were ignored.

The case was heard by Mr Justice Miles in the High Court over seven days in November 2020, and in a lengthy judgement issued in December, he dismissed all of Uralkali’s claims.

It was also rumoured that Mazepin was interested in purchasing the Williams F1 team.

Then in October 2020, he resurfaced with Uralkali becoming the title sponsor of the Haas F1 Team, resulting in the obligatory race seat for his son Nikita.

Since then, Nikita has been in the headlines for all the wrong reasons!

Despite being a wealthy oligarch with ties to the Kremlin, Mazepin Snr has taken great care to date to avoid any public scrutiny, especially outside Russia, where he remains almost entirely unknown.

With his family’s involvement in F1, times are changing.

What influence does Dmitry Mazepin have in F1?

Assuming Jnr can develop into a competitive driver, Mazepin will likely take the next step and buy out Haas, or if Gene Haas still refuses to sell, he will look at the Sauber team. Either way, he will have a seat at the big boy’s table.

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