Uzbek businessman Iskander Makhmudov has an estimated net worth of $5.09 billion as of March 2017, according to Bloomberg. Born Iskander Kahramonovich Makhmudov on December 5, 1963 in Bukhara, Uzbek SSR, he graduated from Tashkent State University with a degree in Oriental Studies.

Mr. Makhmudov has earned his estimated net worth as the founder and main owner of Gorno-Metallurgicheskaya Kompaniya (UGMK) Holding or the Ural Mining and Metallurgical Company. It is the fourth largest non-ferrous metallurgical company in Russia and the second largest copper producer in terms of output. He also owns a stake in Transmashholding, the largest maker of locomotives and retail equipment in Russia. He partnered with state-owned Russian Railways and the French machine-building giant Alstom.

Iskander Makhmudov began his career in business when he joined the industrialist Chernoy brothers, the billionaire Reuben brothers and their Trans-World Group which was once the largest metals-trading operation in Russia.