Anatoly Lomakin

Anatoly Lomakin (Анатолий Ломакин) made the move from businessman to lawmaker as a Yedinaya Rossiya party deputy in State Duma of Russia without a hitch.With a reported net worth of $1.2 billion, he regularly makes the galleries of the Forbes Billionaires List.

Born and raised in Moscow, Lomakin graduated from the Moscow Institute of International Relations with a Bachelor’s degree in Arts and Science. Unlike many of the richest Russians, he did not purchase, nor inherit a great firm: he built his company from the ground up; it was the first private company in Russia after the collapse of communism, and he has been instrumental in promoting sound economic policies and sustainable development in business, ever since.

Economics That Makes Sense – The Potash Industry in Russia

In 1992, Anatoly Lomakin founded the International Potash Company (MMK). In a stunning business move he was able to join Silvinit, the large Russian mineral fertilizer company, and two of the largest fertilizer producers in the country, to form a company that was able to take on the global potash industry. It was a bold move and a crucial one for the economy in post-Soviet Russia; consumption of potash within the country fell drastically during the early 1990s. Lomakin was able to ensure the success of the potash industry by competing in foreign markets and capturing large contracts from China, Belarus and the United Kingdom. It took several years and a large investment from this billionaire to position the International Potash Company as a serious contender on the open market. He travelled extensively during this time, forging contacts and contracts in China, Japan, South Korea, and across Europe. The result is that potash is now exported to over 70 foreign markets and plays a significant role in the Russian economy.

Though the business partnership between the three companies that made up the International Potash company was terminated, Lomakin continued to export potash on behalf of Silvinit. In 2005, Silvinit and Uralkali merged to form a separate company while MMK moved almost exclusively into investment consulting work. Today, Lomakin has a number of investments assets both in the fertilizer and potash industry, as well as roadworks and transport companies.

Politics and the State Duma

In 2012, Anatoly Lomakin became a party deputy in the State Duma. He voted on ‘The Law of Dima Yakovlev’, which prohibits US citizens from adopting Russian children. He stepped down from his position in early 2013, for health reasons.

Personal Life of Anatoly Lomakin

Married with two children, both of who also graduated from the Moscow State Institute of International Relations and live in Moscow, Lomakin is an intensely private man. Though he loves travelling throughout the Far East and Brazil, he is happiest at home in Moscow with his family. With enough cash to splash on exotic yachts and fast cars, Lomakin still owns the very first car he purchased, a Russian made ‘Zhiguli’.