What is Zelimkhan Mutsoev's Net Worth?
Zelimkhan Mutsoev is a Russian businessman who has a net worth of $1.3 billion. Mr. Mutsoev accumulated the better part of his net worth through his lucrative investments in fertilizers and real estate. Today, the Mutsoev family controls the Regions Group, which holds an 8.1% stake in major fertilizer producer, Uralkali, and owns dozens of Russian shopping centers. A self-made billionaire, Zelimkhan Mutsoev made his beginnings driving a dump truck on construction sites right after he finished school. It was in the late 1980s that he decided to found his own clothing manufacturer. Off to a good start, he went on to acquire a part of Pervouralsk, a factory that produces pipes and tubes, by the late 1990s.
In 2004, he sold his controlling stake in the factory to ex-billionaire Andrey Komarov's ChTPZ group. In February 2013, he joined billionaire Gavril Yushvaev in the acquisition of a 38% stake in Russian gold producer Polyus Gold, a company that is registered in Jersey. But because Mutsoev has been a member of the State Duma since 1999, he has gone through some issues for participating in the Polyus Gold buy-out. The problems occurred along with the passing of a new law that barred members of the Russian government to own assets abroad. Mutsoev still managed to make a way around the law claiming to have sold his 18.5% stake in the company to his brother. Next, he sold his 8.1% stake in Russian fertilizer producer Uralkali, right after the so-called "potash war." Mutsoev is married and has five children.
