Russia's richest man owns 12.5 percent of TNK-BP, a Russian oil venture he controls with BP and four Russian billionaires, through his closely held company, Renova Group. He also owns a stake in Energoprom Group, a construction, utility and industrial materials venture, as well as shares in United Co. Rusal and Swiss companies Sulzer and Oerlikon.
Norex Petroleum Ltd. asked New York’s highest court to reinstate a $1 billion lawsuit in which billionaires Leonard Blavatnik and Victor Vekselberg are accused of using gunmen and corrupt court proceedings to steal a controlling stake in a Siberian oil field.
United Co. Rusal slid the most in a week in Moscow after Victor Vekselberg resigned as chairman of the world’s largest aluminum producer, saying the company controlled by billionaire Oleg Deripaska is facing a “deep crisis.”
OAO Rosneftegaz, a Russian state-run holding of which President Vladimir Putin’s ally Igor Sechin is chairman, may buy power assets from billionaire Victor Vekselberg’s ZAO Integrated Energy Systems, Vedomosti reported, citing industry officials it didn’t identify.
OAO Gazprom and Russian billionaire Victor Vekselberg scrapped the plan to merge their power assets after failing to agree on price, Vedomosti reported, citing unidentified people familiar with the matter.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Russian billionaire Viktor Vekselberg plans to renovate a money-losing, Soviet-era synthetic oil plant as President Dmitry Medvedev demands the rich invest in towns left impoverished by dying industries.
During the Cold War, scientists working at the laboratories of the Massachusetts Institute of Technology produced ideas and inventions, such as distant early- warning radar and satellite-tracking systems, designed to help the U.S. prevail over the Soviet Union.