Len Blavatnik is a Ukrainian-American businessman. He administers his business through Access Industries, a holding company he formed in 1986. Access now owns the majority of Warner Music Group, the sports media firm DAZN, and one-fifth of LyondellBasell Industries, one of the world’s largest chemical corporations. In 2011, Access Industries paid $3.3 billion for Warner Music Group.
He is also a minority shareholder in United Co. Rusal, Russia’s largest aluminum manufacturer. Between 2004 and 2012, Blavatnik gained more than $5 billion in dividends on a 12.5% share in TNK-BP, a Russian oil company. In 2013, he sold his part in the enterprise for $7 billion.
His property and art collection are worth $1.7 billion. So in this article, you will find the total net worth of Len Blavatnik his career, biography, and much more.
Len Blavatnik Net Worth
Leonard Valentinovich Blavatnik is a philanthropist and business entrepreneur of Ukrainian origin. Len Blavatnik’s net worth is predicted to be at $29 billion as of October 2023.
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Len Blavatnik Net worth: $29billion
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Len Blavatnik Early Life
Leonard Valentinovich Blavatnik was born on June 14, 1957, in Odesa, Ukraine, which was then part of the Ukrainian SSR and the Soviet Union. He grew up in a Jewish family. When he was a child, his parents relocated to Yaroslavl, a Russian city north of Moscow.
He later attended Moscow State Railway Engineering University. However, due to his family’s desire for emigration visas, he was unable to complete his studies. In 1978, his family immigrated from the Soviet Union to the United States.
In 1981, he graduated from Columbia University’s School of Engineering and Applied Science with a master’s degree in computer science. He received his MBA from Harvard Business School in 1989.
Len Blavatnik Career
Blavatnik formed Access Industries Holdings, of which he is chairman and president, in 1986. The company now owns a major piece of LyondellBasell, the world’s largest polypropylene producer. He also owns the majority of Warner Music Group through the holding firm and has investments in many publicly traded enterprises.
Following the demise of the Soviet Union, Blavatnik used his holding company to acquire a number of former state properties in Russia that had been privatized by the government. He accumulated interests in aluminum smelters in particular and has been hailed as a victor in Russia’s aluminum wars. During this time, he amassed a large portion of his early wealth.
During this period, he made an investment in Sual, which later became part of United Company Rusal and grew to become the world’s largest aluminum manufacturer. From 2007 through 2016, Blavatnik served on the Rusal board of directors. He was in charge of the company’s investment in regional power plants. The electricity source was subsequently utilized to power their energy-intensive aluminum industry.
Blavatnik co-founded the Renova investment entity with a university classmate, Viktor Vekselberg. They acquired a stake in the Irkutsk Aluminum Plant as well as smelters and plants. In addition, they obtained a coal mine in Kazakhstan. AAR (Alfa, Access, Renova) was founded in 1997 by the merger of several of Blavatnik’s firms. Blavatnik’s primary position within the company was to act as a liaison with Western corporations such as British Petroleum.
When AAR was formed, it purchased nearly half of the faltering oil firm Tyumen Oil (TNK) for $800 million. At the time, TNK was one of the few remaining state-owned oil corporations. Rosneft, a Russian oil firm, paid AAR $28 billion in cash for its 50% holding in TNK in 2013. The majority of Blavatnik’s Russian assets were liquidated in this transaction.
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Len Blavatnik’s Personal Life
Emily Appelson Blavatnik is Blavatnik’s wife. The couple has four children together. He owns a variety of high-end properties around the world. In 2004, he purchased a Grade II listed building in Kensington Palace Gardens. Other residents on the street include Israeli and Russian embassies.
Here is an Instagram post about Len Blavatnik’s wife:-
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He also has a home in Manhattan. Blavatnik has friendships with a number of prominent politicians. He has friendships with both Israeli Prime Minister Benjamin Netanyahu and former President Donald Trump. He is also a business associate and friend of Russian businessman Viktor Vekselberg.
He is a dual citizen of the United Kingdom and the United States. Blavatnik was appointed a chevalier of the French Legion d’Honneur in 2013. In the 2017 Birthday Honours, Queen Elizabeth II knighted him for services to philanthropy.
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