Igor Zyuzin’s profile picture

Igor Zyuzin

Igor Zyuzin’s profile picture
Net worth 2018: $1.8 Billion
Industry: Metals & Mining
Country: Russia
BirthDay: 29 May 1960
Sigh: Gemini
Children: 2
Education: Bachelor of Arts / Science, Tula Polytechnical Institute
BIOGRAPHY

Igor Zyuzin was bornon 29 May 1960 in Russia. In 1995 Igor Zyuzin and partner Vladimir Iorich formed Uglemetkooperatsiya, a coal-trading company, which was among the first to buy up shares in coal mines and pits in Russia's Kuzbass region. In 2001 the partners bought a controlling stake in Chelyabinsk Metals Factory, which formed the basis of the Mechel Group, which now has more than 20 plants and coals mines around the world. Three years later its shares began trading on the New York Stock Exchange. Now Mechel is in the doldrums. In the first nine months of 2012 the company lost $550 million and racked up $9.1 billion in debt. In September 2012 Mechel announced it was selling assets including factories in Romania, a Lithuanian wire, nails and wire mesh maker called Mechel Namunas, and nicked producer Yuzhuralnickel.

NET WORTH STATISTIC
2010

$6.4 Billion

2011

$8.9 Billion

2012

$3.1 Billion

2013

$1.8 Billion

2018

$1.8 Billion

TIMELINE
2016

9 billion, he was ranked 16th on the Forbes list of 200 richest Russian business people

2013

After losing a substantial portion of his net value in 2013 due to Mechel stock decline, he dropped out of the top 100 of the Forbes list

2010

Kommersant business daily ranked him fifth among senior managers in the Metals and Mining Sector in 2010

2009

Mechel disclosed in June 2009 that more than half of Zyuzin’s stake in Mechel — 37

2008

Then-Russian Prime Minister Vladimir Putin sharply criticized Zyuzin for reduced export prices (claiming they stood at half the domestic prices) at a steel industry meeting which discussed the high domestic prices of coal and other raw materials on July 24, 2008

2007

Mechel’s February 2007 US SEC filing showed Igor Zyuzin as the beneficiary holder of 68

2006

Yorikh had sold off all of his stake by the end of 2006, selling most of it to Zyuzin, who borrowed US$1 billion to finance the acquisition

2004

Mechel was taken public in 2004 (Vladimir Yorikh has most of the credit for the successful IPO), and Zyuzin and Yorikh retained a 47

2001

The partnership of Zyuzin and Yorikh acquired a controlling stake in Mechel OJSC for US$133 million in 2001 and continued buying steel makers

2000

As a key figure at Southern Kuzbass, he was appointed to the Entrepreneurship Council led by Russian Prime Minister Mikhail Kasyanov in 2000

1997

He was Chairman of the Board of Mezhdurechensk Ugol OJSC in 1997 – 1999, and was first elected Chairman of Southern Kuzbass Coal Company OJSC in May 1999

1994

he established Uglemet (the company names combines Russian words for “coal” and “metal”) in 1994, which received substantial coal sale quotas

1993

Igor Zyuzin became CEO of Kuzbasskaya Central Refinery in October 1993, and worked at the company for four years

1992

He also graduated from the Kuzbass Polytechnic Institute (in [Kemerovo]) by correspondence with a bachelor's degree equivalent in Economics of Mining in 1992

1990

They bought Southern Kuzbass, Mezhdurechenskugol and a number of other companies in the late 1990s

1989

He was able to become an intermediary between the government and miners during the 1989 mining strikes

1987

Zyuzin began working at Raspadskaya Mine (in Kemerovo Oblast) in 1987

1985

He graduated from the Tula Polytechnic Institute’s Graduate School in 1985, earning his Kandidat of Technical Sciences degree (PhD equivalent) in 1986

1982

In 1982, he graduated from the Tula Polytechnic Institute with an honors bachelor's degree equivalent in mining engineering

1960

Zyuzin was born in Kimovsk, Tula Oblast on May 29, 1960

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