Early Life
Andrey Melnichenko was born on March 8, 1972, in Gomel, Byelorussian SSR. He attended the Advanced Education and Science Centre of the Lomonosov Moscow State University and later studied physics at Moscow State University before transferring to the Plekhanov Russian University of Economics, where he graduated in finance.
Rise to Success
Melnichenko's entrepreneurial journey began with a currency exchange booth while at university. In 1993, at 21, he co-founded MDM Bank, which rapidly grew to become one of Russia's largest private banks. He served as Chairman of the Board of Directors of MDM Bank from 1993 to 1997. He later transitioned into industrial investments and co-founded MDM Group. Melnichenko focused on the development of industrial assets in fertilizers and coal, co-founding EuroChem and SUEK. His companies have invested billions in Russia's economy and industrial sector.
Key Business Strategies
Melnichenko's strategy included taking advantage of Russia's mineral resources and establishing a far-reaching distribution network. He focused on consolidation and modernization, launching EuroChem and SUEK. He was the effective beneficiary of 100 percent of EuroChem until March 9, 2022, when he resigned and withdrew as beneficiary.
Philanthropy
Melnichenko is known for his philanthropy, supporting educational and cultural initiatives in Russia. In 2016, he received a special award from Vladimir Putin for his charitable works. His companies have spent over $500 million on social and charitable projects.