Alexander Svetakov Net Worth

What is Alexander Svetakov's Net Worth?

Alexander Svetakov is a banking and real estate billionaire who has a net worth of $3.1 billion. Born Alexander Alexanderovich Svetakov on February 15, 1968 in Moscow, Russia, he built up his fortune early in his youth. A graduate of Moscow Institute of Electronics Engineering, he first started to work as a systems engineer. He went on to run a wholesale business through his group called Absolut, mainly by importing home appliances and electronics from Singapore. Managing the wholesale division to date, it is said to have made around $2 billion in sales last year. It was in 1993 that he set up Absolut bank, which he decided to sell to a Belgian group just a year before the 2008 Russian financial crisis.

The sum that he earned from the bank was used for a purchase of land that would be exploited for construction of commercial space and affordable housing. Most recently, he simplified his business by selling his industrial assets in Absolut Group where he has served as the Director General and remained majority shareholder since it was founded. Today, his interests are mainly concentrated to real estate, trading and insurance. As of 2012, he also started the Absolut Help charity fund that supports the disabled and administers aid to orphanages and hospitals. Furthermore, Svetakov is also a major sponsor of the Kremlin Cup tennis championship.