Early Life
Alexander Alexandrovich Svetakov was born on February 15, 1968, in Moscow, Russia. He earned a Bachelor's degree in Engineering from the Moscow Institute of Electronic Machine Building (MIEM) in 1993.
Rise to Success
Svetakov's entrepreneurial journey began during his studies at MIEM, where he and his classmates imported electronics from Singapore, establishing the Absolute Trade House (Absolute LLP), which later became a major electronics wholesaler in Russia. In 1993, he co-founded Absolut Bank with Gleb Galin and Andrew Truskov. The bank was sold in 2007 for approximately $1 billion. After selling Absolut Bank, Svetakov shifted his focus to real estate development through Absolut Group, developing projects in Moscow, London, and New York. In 2013, he was developing five projects in London and New York City. The Absolut Group received the International Property Award for Best Office Architecture in Europe for their Noble Business Centre in Limassol, Cyprus, in 2015.
Key Business Strategies
Svetakov's business acumen is evident in his ability to identify and capitalize on emerging markets, as seen with his early electronics import business. His strategic sale of Absolut Bank before the 2008 financial crisis highlights his foresight. Focusing on real estate, Svetakov has built a substantial portfolio, particularly in the Moscow region.
Philanthropy
Svetakov established the Absolute-Help foundation in 2002 to support orphans, children with disabilities, and children with grave illnesses. He has also been a sponsor of the Kremlin Cup tennis championship.