Patokh Chodiev’s profile picture

Patokh Chodiev

Patokh Chodiev’s profile picture
Net worth 2018: $2.18 Billion
Industry: Metals & Mining
Residence: Almaty, Kazakhstan
Country: Belgium
BirthDay: 15 April 1953
Sigh: Taurus
Children: 3
BIOGRAPHY

Patokh Chodiev was bornon 15 April 1953 in Almaty, Kazakhstan, Belgium. Patokh Chodiev is #1271 in List Billionaires People In The World. With partners and longtime friends Alexander Machkevich and Alijan Ibragimov (both billionaires), Patokh Chodiev is trying to revive the fortunes of Eurasian Natural Resources Co., a metals and mining empire in Kazakhstan, which they delisted in 2013 after a market downturn stalled growth and fraud investigations mounted. They also remain in court over a $220 million claim ENRC allegedly failed to pay the final installment for a Brazilian iron ore mine to Zamin owned by Laskhmi Mittal's right hand man, Pramod Agarwal. Uzbekistan native lived in Japan before teaming up with his pals in Kazakhstan.

NET WORTH STATISTIC
2009

$1.2 Billion

2010

$3.3 Billion

2011

$3.7 Billion

2012

$2.8 Billion

2013

$2.1 Billion

2014

$1.7 Billion

2015

$2 Billion

2016

$1.4 Billion

2017

$1.8 Billion

2018

$2.18 Billion

TIMELINE
Patokh Chodiev (Russian: Фа́ттох Каюмович Шо́диев; Fáttoh Kayúmovich Shódiev; born 15 April 1953, in Jizzakh (Uzbek SSR), is a London-based Uzbek oligarch with Belgian citizenship who, with Alexander Mashkevich and Alijan Ibragimov, is part of the "Trio," a group of Central Asian businessmen who made their fortune through deals in minerals, oil, gas, and banking in Kazakhstan. Chodiev is currently ranked #275 on the Forbes list of billionaires.Patokh Chodiev was born in Uzbekistan. He studied international law and Japanese at the Moscow State Institute of International Affairs (MGIMO), graduating with a doctorate in political science. Speaking Japanese fluently, he joined the diplomatic service specializing in Russian-Japanese commercial relations and subsequently lived in Tokyo for a few years.In 1996, Chodiev created an international charitable organization, the Chodiev Foundation, to promote innovation, art and education in Eurasia and Southeast Asia.In September 2017, the Chodiev Foundation registered a representative office in Uzbekistan, in order to provide humanitarian assistance and healthcare to orphanages in the country. Reports also stated that Chodiev plans to build several shopping malls as well as a metallurgical plant in Tashkent as part of an investment push into Uzbekistan.On 27 June 1997 Patokh Chodiev acquired Belgian citizenship. This led to a debate in the media about how his naturalization was obtained, since Chodiev does not speak any of the three official languages of Belgium (Dutch, French or German) fluently. Furthermore, the Belgian State Security Service expressed concerns about Chodiev’s relations to other Russian businessmen, but eventually found "nothing to report."Patokh Chodiev was also accused of having received help in this matter from the mayor of Waterloo, Serge Kubla (fr). His Belgian naturalization was finally the subject of an official inquiry in January 2017, about which the Belgian newspaper Le Soir wrote on 11 January 2017: “When Serge Kubla wrote to Claude Eerdekens on 16 May 1997, all the lights were already green for Chodiev: he had the support of the SPF Justice, the State Security Service, the Aliens Department, the Waterloo police and the Public Prosecutor's Office, and therefore also that of the naturalization service.” On March 8, 2017, Serge Kubla assured “under oath" not to have intervened on Chodiev’s behalf. Chief investigator of the case, Jean-François Kayser, stated that “there is no evidence of Mr. Kubla's physical intervention with Mr. Vandewalle”, referring to the Chief Commissioner of the Waterloo police.In 1999, the energy company Tractebel lodged a complaint against two of its employees, accusing them of embezzling part of the $55 million in consulting fees paid by Tractebel to Patokh Chodiev and his two associates. Separate to this case, the three partners were under investigation in Belgium on suspicions of forgery and money laundering, but the Brussels public prosecutor dropped any proceedings on June 17, 2011, within the framework of the extension to the criminal transaction law. As such the three paid a lump sum settlement of 522,500 euros.Together with Alexander Mashkevich and Alijan Ibragimov, Chodiev runs various ventures in the minerals sector in Kazakhstan, Africa and Brazil. In 2007, their enterprise was floated on the London Stock Exchange and became part of the FTSE 100 in 2008. In 2009, Eurasian Natural Resources Corporation (ENRC), one of the world's leading natural resource companies, of which Chodiev is a major shareholder, generated a profit of $1.462 billion from a turnover of $3.8 billion. Based in London, ENRC exploited a number of mineral deposits in Kazakhstan and Africa after acquiring numerous mining operations in Eastern Europe and Africa. In November 2013, the company was renamed "Eurasian Resources Group" (ERG) and is registered in Luxembourg as a company specializing in natural resources.Patokh Chodiev was named among the 732 Belgians linked to offshore companies when the Panama Papers scandal broke in April 2016.
(3.5/111 votes)
Related Person
Tor Peterson’s profile picture
Tor Peterson
Net Worth is $2.13 Billion
Alberto Benavides & family’s profile picture
Alberto Benavides & family
Net Worth is $2 Billion
Andrei Klyamko’s profile picture
Andrei Klyamko
Net Worth is $1.9 Billion
Wang Qingtao’s profile picture
Wang Qingtao
Net Worth is $1.88 Billion
Kostyantin Zhevago’s profile picture
Kostyantin Zhevago
Net Worth is $1.81 Billion
Alex Beard’s profile picture
Alex Beard
Net Worth is $1.81 Billion