Mikhail Gutseriev (Михаил Гуцериев)
built his fortune by founding Grozny Bank, CHIITAL furniture manufacturer, Russneft and BIN Bank. Recently, Gutseriev invested in hotels, shopping centers and real estate in Moscow. He was also active in politics as a member of the Russian Federation State Duma. In September 2014, Forbes estimated Mikhail Gutseriev’s wealth to be $3.3 billion down from $6.7 billion in 2012. With a surge in the number of multibillionaires, Gutseriev was pushed to 517th highest net worth in the world as of September 2014, from 458th, in 2013. Gutseriev‘s net worth was ranked 141st, in 2012, at the height of his fortune. He is the 33rd richest Russian.
Mikhail Gutseriev was born in Tselinograd, Kazakhstan, in 1958. He received degrees from Dzhambul Sky Technology Institute in Chemical Engineering, Gubkin Russian State University of Oil and Gas, Saint Petersburg Law Institute and Plekhanov Russian Academy of Economics with a Ph.D. in Economics. Gutseriev received multiple honors as a student. At first, he worked to support himself while he studied in university. Gutseriev wrote five monographs and many scholarly articles.
Soviet Grozny Bank
In 1976-92, Gutseriev gradually rose to General Director from warehouse loader in the Grozny Industrial Association. In 1988, the year that cooperatives licenses were first permitted in the USSR, Mikhail Gutseriev founded Grozny Bank.
In 1992, Mikhail Gutseriev founded BIN Bank. In 2014, Gutseriev’s partner Mikhail Shishkhanov owns a controlling share of BIN Bank.
Gutseriev has long been a major investor in oil and gas. He served as President of NGK Slavneft OAO. In 2002, he founded Russneft. After five years of exponential growth, Russneft was among the ten largest oil companies in Russia and had the most affiliate gas stations. In 2007, he sold Russneft to Oleg Deripaska due to political opposition, alleged tax evasion and business license violations. The charges were dropped. Since returning to Moscow he has bought and sold Russneft a couple of times.
GCM Global Energy Plc and Slavkaly
Gutseriev owns a stake in GMC Global Energy, a British based potash company and founded Slavkaly in Belarus. GMC Global Energy has recently signed on a few major mining projects in Belarus. Gutseriev made an offer to buy Suleiman Kerimov’s stake in Uralkali the largest potash miner in the world.
In the last few years, Mikhail Gutseriev has invested in Moscow real estate and development. In 2012, he bought Summit and Lux luxury Hotels from Bidzina Ivanshvili, Georgia’s former Prime Minister. From Elena Baturina, the richest woman in Russia, he bought the National Hotel. In 2013, Victor Vekselberg sold Multinational Logistics Partnership (MLP) and its almost 1 million meters in storage space to Gutseriev.
Gutseriev owns seven radio stations.
Politics and Public Service
In 1994, Mikhail Gutseriev was elected head of the Ingushetia zone within the Russian Federation. In 1995, he was elected as Deputy Chairman in the State Duma. As an independent, he served on the State Duma again in 1999 for District 12. He also served as President on the Russian Union of Industrialists and Entrepreneurs. He is known to have negotiated to resolve several national crises in Russia, including the Chechen Crisis. He was involved in committees for Industries, Education and Religious issues.
Gutseriev composes songs and poems. He also plays the violin and piano. Some of his songs have been performed in public.
Mikhail Gutseriev has funded educational, sports, cultural and healthcare programs, including the construction of a rehabilitation center for children with disabilities. He has been given many awards and honors for his philanthropic contribution to religious, cultural, business and educational interests.