Early Life and Education
Iskander Kakhramonovich Makhmudov was born in Bukhara, Uzbek SSR, on December 5, 1963. He grew up in Tashkent. Makhmudov studied at the Faculty of Oriental Studies of Tashkent State University, graduating in 1984 with a degree in history and literature.
Rise to Success
After graduation, Makhmudov worked in various Soviet military organizations in Libya and Iraq. In 1991, he moved to Moscow to manage coal trade and later focused on the copper mining industry. In 1999, he founded the Ural Mining and Metallurgical Company (UMMC), which became the fourth-largest non-ferrous metallurgical company in Russia and the second-largest copper producer. Makhmudov's career advanced through various positions in different companies before creating UMMC.
Key Business Strategies
Makhmudov's business acumen led to the formation of UMMC, which operates over 40 plants across 11 regions in Russia. He has expanded into various sectors, including mining, transportation, and hospitality. He also holds a stake in Transmashholding, the largest manufacturer of locomotives and rail equipment in Russia. His ventures include Aeroexpress, which provides rail transportation between Moscow and its airports.
Philanthropy
Makhmudov has been involved in philanthropy and has contributed over $1 billion to charitable causes, including medical clinics, housing programs, orphanages, and programs for war veterans. UMMC has also invested in educational and health centers for disadvantaged children. UMMC constructed the Shayba ice arena for the 2014 Sochi Olympics, donating it to the Russian government after the games.