DERIPASKA, Oleg Vladimirovich
CEO RusAl Aluminium company

Deripaska graduated from Moscow State University Physics department and Plekhanov Russian Economics Academy. When the Soviet Union collapsed, he started working in the Russian metals industry and was made chief financial officer of Aluminprodukt in 1994. While working for Aluminprodukt, he bought a stake in a Siberian smelter plant, which marked the beginning of his accumulation of assets in the metals industry. In 1996 he was named director of the Sayan Aluminum Plant before assuming control of Russian Aluminum, Russia’s largest aluminum producer, in 2000. In 2007 Russian Aluminum combined with SUAL, and the alumina assets of Glencore, to form RUSAL, the world’s largest aluminum company. In January 2010, RUSAL was listed on the Hong Kong Stock Exchange, raising capital of $2.6 billion.  

The IPO was somewhat overshadowed by concerns over RUSAL’s huge debts and allegations against Deripaska in connection with the trial for money laundering of one of his associates, Mikhail Chorny. In May 2010 Deripaska was questioned by a Spanish judge in connection with the trial.  

Deripaska was also embroiled in a scandal in the UK in 2005, involving the removal of the 14.9 percent tariff on aluminum foil for Rusal. Lord Peter Mandelson, then European Trade Commissioner, was accused of a conflict of interest when it was revealed he knew Derispaska prior to the decision. Questions were raised again in 2008 when Mandelson was pictured partying on Deripaska’s yacht.

In 2006, while involved in a bid to buy the Daimler Chrysler Group, the Wall Street Journal reported that the United States canceled Deripaska’s entry visa because of his links to organized crime in Russia. Deripaska has subsequently been issued a visa and visited the USA.  

Deripaska’s Basic Element company, owns assets in Russia and abroad in the energy, manufacturing, financial services, construction and aviation sectors. In Russia, the group controls the GAZ automotive company, Ingosstrakh insurance company, SOYUZ bank and energy company EuroSibEnergo.

Deripaska also holds several key positions on business councils in Russia including Russian representative on the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) since 2007. He is also vice president of the Russian National Committee of the international Chamber of Commerce and a member of the Russian Government’s Competitiveness and Entrepreneurship Council.  

In 1998, Deripaska established Free Business (Вольное дело), Russia's largest private charity foundation. The fund supports over 400 initiatives across Russia aimed at developing education and science, preserving spiritual and cultural heritage, and improving standards in public health.

Deripaska is married to Polina Yumashev, the daughter of former President Boris Yeltsin's chief of staff. Deripaska's father-in-law in turn married Yeltsin's daughter.

Related links:
Basic Element website

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