Vladimir Potanin

Vladimir Potanin
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Name	Vladimir Potanin
Birth date	3 January 1961
Birth place	Moscow, Russian SFSR, Soviet Union
Education	Moscow State Institute of International Relations
Occupation	Businessman
Known for	Founder of Interros, controlling shareholder of Nornickel
Spouse	Natalia Potanina (divorced), Ekaterina Potanina

Vladimir Potanin. He is a prominent Russian billionaire businessman and oligarch, best known as the founder and primary owner of the investment holding Interros and the controlling shareholder of the global mining giant Norilsk Nickel (Nornickel). His wealth was accumulated during the controversial Loans-for-shares privatization auctions of the 1990s, which transferred major state assets into private hands. Potanin has also been a significant figure in Russian philanthropy, founding the Vladimir Potanin Foundation, and has served in government, including as First Deputy Prime Minister of Russia from 1996 to 1997.

Early life and education

Vladimir Potanin was born on 3 January 1961 in Moscow, within the Russian SFSR of the Soviet Union. His father, Oleg Potanin, was a senior official in the Ministry of Foreign Trade of the USSR, which provided connections to international trade and government circles. He attended the prestigious Moscow State Institute of International Relations (MGIMO), a training ground for the Soviet elite, graduating in 1983. Following his graduation, he began his career as a senior economist at the Ministry of Foreign Trade, engaging with state-controlled export-import operations.

Business career

In the late 1980s, during the era of Perestroika under Mikhail Gorbachev, Potanin transitioned to the nascent private sector, co-founding one of the first cooperatives. His major breakthrough came with the establishment of Interros, an investment company, in the early 1990s. Potanin's pivotal moment was his involvement in the Loans-for-shares scheme, where he, along with Mikhail Prokhorov, gained control of Norilsk Nickel, the world's largest producer of palladium and nickel, for a fraction of its value. He later expanded his holdings to include significant stakes in Prof-Media, Rosbank, and the ski resort Rosa Khutor in Krasnaya Polyana, developed for the 2014 Winter Olympics in Sochi. From 1996 to 1997, he served as First Deputy Prime Minister of Russia in the government of Viktor Chernomyrdin, overseeing economic portfolios.

Wealth and philanthropy

For many years, Vladimir Potanin has been ranked among the wealthiest individuals in Russia and the world by publications like Forbes. His fortune is primarily derived from his controlling stake in Nornickel, a company critical to global markets for platinum group metals. In 2010, he signed The Giving Pledge, committing to donate the majority of his wealth to philanthropic causes. His primary vehicle for this is the Vladimir Potanin Foundation, established in 1999, which focuses on supporting education and culture, including grant programs for students at leading institutions like the Higher School of Economics and the State Hermitage Museum. He has also funded major cultural projects, such as the restoration of the Bolshoi Theatre in Moscow.

Sanctions and legal issues

Following the Russian invasion of Ukraine in 2022, Vladimir Potanin was subjected to international sanctions by the United Kingdom, Canada, Australia, and New Zealand, which targeted his assets and transactions. However, as of early 2024, he had not been sanctioned by the United States Department of the Treasury or the European Union, a point of some international discussion. Potanin has faced significant legal disputes, most notably a protracted and high-profile divorce case with his first wife, Natalia Potanina, which involved claims to a multi-billion dollar share of his assets in courts in Moscow and London.

Personal life

Vladimir Potanin was first married to Natalia Potanina, with whom he has three children; their divorce proceedings became one of the most expensive in history. He is now married to Ekaterina Potanina (née Zhukova), the daughter of former KGB agent and chess federation head Alexander Zhukov. A known sports enthusiast, Potanin is an avid skier and tennis player. He maintains a significant art collection and is a noted patron of Russian art, with a particular interest in early 20th-century Russian avant-garde works. His public persona is often characterized as that of a discreet and calculating businessman compared to some of his more flamboyant peers from the post-Soviet era.

Category:Russian billionaires Category:Russian businesspeople Category:People from Moscow