Early Life
Len Blavatnik was born in Odesa, Ukraine, in 1957, to a Jewish family. His family later moved to Yaroslavl, Russia. In 1978, at the age of 21, his family emigrated to the United States, settling in Brooklyn. Blavatnik attended Moscow State University of Railway Engineering but did not complete his coursework due to his family's request for emigration visas. He later earned a Master of Science degree from Columbia University and an MBA from Harvard Business School.
Rise to Success
Blavatnik's career took off with the founding of Access Industries in 1986. The company initially focused on industrial investments, including aluminum and oil assets, during the privatization wave following the collapse of the Soviet Union. Blavatnik, along with partners, acquired stakes in aluminum smelters and later formed TNK-BP, a joint venture with British Petroleum. A significant portion of his wealth came from the sale of his stake in TNK-BP in 2013 for $7 billion.
Key Business Strategies
Access Industries, under Blavatnik's leadership, diversified into multiple sectors. In 2011, he acquired Warner Music Group for $3.3 billion and took the company public in 2020, quadrupling its value. Access Industries holds significant stakes in LyondellBasell and Calpine. The company has invested in a variety of sectors, including media, entertainment, real estate, biotechnology and technology ventures. A key strategy has been to identify companies with strong business models and management teams and optimize their value through financial backing and expertise.
Philanthropy
Blavatnik is a prominent philanthropist, having donated over $1 billion to various institutions. His Blavatnik Family Foundation supports higher education, scientific research, arts, and culture. Notable donations include substantial contributions to Yale University, Harvard University, Oxford University, and the Tate Modern in London.