Early Life and Education
Viktor Vekselberg was born on April 14, 1957, in Drohobych, Ukrainian Soviet Socialist Republic. He graduated from the Moscow State University of Railway Engineering in 1979 with a degree in Automation and Computer Engineering. After his studies, he worked as a researcher and headed the laboratory of the Design Bureau for rodless pumps "Konnas".
Rise to Success
Vekselberg founded the company Komvek in 1988, after the Gorbachev administration relaxed restrictions on private business. In 1990, he co-founded Renova Group. In the mid-1990s, he and his business partner Len Blavatnik accumulated interests in aluminum smelters. In 1996, they co-founded the Siberian-Urals Aluminum Company (SUAL) by merging the Ural and Irkutsk Aluminum Plants. Through Renova, Vekselberg invested in various fields such as metals, mining, and telecommunications. Vekselberg's investments extended to the oil industry, playing a role in the formation of the AAR consortium. Vekselberg, along with Mikhail Fridman's Alfa Group, took over TNK, which merged with BP in 2003.
Key Business Strategies
Vekselberg's business strategy has been centered around identifying and acquiring assets with high growth potential, and utilizing consolidation within different sectors. Renova Group's strategy focuses on acquiring assets in sectors with high growth potential, as well as investing in research and development of advanced technologies across traditional and emerging industries.
Philanthropy
Vekselberg is also involved in philanthropy. He is the chairman of the Skolkovo Foundation, a high-technology business area near Moscow. He has donated to cultural and art projects, notably opening the Fabergé Museum in Saint Petersburg to display his collection of Fabergé eggs, which he purchased for approximately $100 million. He is also involved in supporting various social and economic partnerships. He made major donations to health efforts during the COVID-19 pandemic.