Boris Iosifovich Mints, Ph.D., has a fortune of $1.53 billion, which makes him the 52nd richest businessman in Russia. The self-made billionaire is the owner of the O1 Group, with investments in real estate, finance, and pension funds in both Austria and Russia.
Boris Mints was born and raised in Ivanovo and is a graduate of the prestigious Physical Faculty of Ivanovo State University. Mints graduated with a PhD in Engineering Sciences and specialized in Mathematical Physics. He worked in a number of professions and sectors before he founded the Cyprus-based O1 Group in 2004.
Early Career and Politics
Boris served as the Vice-Mayor of Ivanovo for four years, before being appointed as Head of Chief Directorate of the State Property Ministry of the Russian Federation in 1994. In 1996 he was appointed as the Head of the Presidential Administration on local authority issues until 2000, when he became a General Director (Media Holdings) at REN TV. Mints was also on the executive committee of Soyuz Pravyh Sil, the opposition political party. The combination of his academic background, local political success and immense business knowledge stood him in good stead when it was time for him to start his own business and real estate empire in 2004. He was a Member of the Board and served as Chairman of OTKRITIE Financial Corporation from 2004 until 2013.
O1 Group and O1 Properties
Boris Mints is currently Chairman of the Board of Directors at the O1 Group, and oversees the management of O1 Properties, which was formed as a subsidiary of the O1 Group. The group is privately held and focuses on asset management and investments. Under the leadership on Mints, the group has expanded its investments across Europe and in a deft move in 2014, he sold 31% of his stake in O1 Properties to purchase UniCredit Bank Austria’s stake in CA Immo, an Austrian owned property development company. The investment meant that Mints now owns 2.4 million square meters of prime real estate, much of it located in central Europe. Significant shareholders of O1 Properties include Goldman Sachs International with a 12% stake, and ICT Group with 26%.
With its ever expanding portfolio of prime property, O1 Properties is making a name for itself as a serious contender in the property market in Europe. In 2012, Mints was ranked 10th on the Forbes List – “Kings of Russian Real Estate”. Owner of nearly 500,000 square meters of prime real estate space in Moscow, O1 Properties is currently the largest Class A rentier in the city. Assets are said to be worth $4.5 billion, and with several development projects underway, Mints looks set to increase his personal wealth.
Mints resides primarily in Moscow, with his wife and children. His son Dimitry Mints works for O1 Properties. As a member of the Russian Jewish Congress (RJC), Mints made a pilgrimage to Israel over the festival of Passover in 2014, along with fellow Russian billionaires Mikhail Fridman, Yury Kanner and Mikhail Mirilashvili.