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Alexander Svetakov Net Worth

Alexander Svetakov Net Worth

Net Worth: $2.9 Billion

  • Source of Wealth Banking and Real Estate
  • Birth Place Moscow, Russia
  • Marital Status Divorced
  • Full Name Alexander Alexanderovich Svetakov
  • Nationality Russian
  • Date of Birth February 15, 1968
  • Occupation Director General and Major Shareholder of Absolut Group
  • Education Moscow Institute of Electronics Engineering
  • Children three children
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About Alexander Svetakov

Alexander Svetakov is a banking and real estate billionaire with an estimated net worth of $2.9 billion as of April 2016 according to Forbes. He is the 39th richest person in Russia and 503rd in the list of World Billionaires. Born Alexander Alexanderovich Svetakov on February 15, 1968 in Moscow, Russia, he graduated from Moscow Institute of Electronics Engineering and worked as a systems engineer.

Svetakov accumulated his estimated net worth of $2.8 billion while he was still at school. He ran a wholesale business with his group by importing home appliances and electronics from Singapore. Just last year, the wholesale appliance division of Absolut made $2 billion in sales. He founded Absolut bank in 1993 which he sold for nearly $1 billion to a Belgian group just a year before the 2008 Russian financial crisis. He served as the Director General and is the majority shareholder of Absolut Group since it was founded.

The money that Alexander Svetakov earned after he sold the bank was used to acquire land and then construct commercial spaces and affordable housing. Last year, he simplified his business interests and sold his industrial assets in the holding company, Absolut Group. His interests were concentrated to real estate, trading and insurance.

In 2002, Svetakov established the Absolut Help charity fund that supports the disabled and administers aid to orphanages and hospitals. He is also a major sponsor of the Kremlin Cup tennis championship.