Oleg Deripaska

Oleg Vladimirovich Deripaska (Russian: Олег Владимирович Дерипаска; born 2 January 1968) is a Russian oligarch and billionaire. Deripaska began his career as a metals trader after the breakup of the Soviet Union. He used accumulated funds from trading to acquire stakes in the Sayanogorsk aluminum smelter from a consortium of businessmen who privatized it in the aftermath of the collapse of the Soviet Union. The Sayanogorsk aluminum smelter served as the foundation of what later became the world's largest aluminium company Rusal.

Deripaska is the founder of Basic Element, one of Russia's largest industrial groups, and Volnoe Delo, Russia's largest charitable foundation. He was the president of En+ Group, a Russian energy company, and headed United Company Rusal, the second-largest aluminum company in the world, until he quit both roles in 2018.

He has been characterized as a victor in the "aluminium wars" in Russia during the 1990s, which were frequently violent conflicts between businesspeople to obtain state-owned assets. In 2000, Deripaska founded Rusal, the result of a partnership between Sibirsky Aluminium and Roman Abramovich's Millhouse Capital. In 2007, Rusal merged with SUAL Group and Glencore International AG to form UC Rusal, with Deripaska as chairman.

He was once Russia's richest man, but lost a substantial part of his fortune during the 2008 financial crisis. As of January 2025, his wealth was estimated by Forbes at $2.7 billion, making him the 1240th richest person in the world. In 2017, Deripaska obtained a Cypriot citizenship through the country's 'golden visa' program, which allows major investors in the economy to apply for a national passport.

He was placed under U.S. sanctions in 2022 for reasons relating to the 2014 annexation of Crimea by Russia. Deripaska was one of seven oligarchs sanctioned by the British government over the 2022 Russian invasion of Ukraine, including asset freezes and travel bans.

As early as 2022 Deripaska was one of a handful Russian businessmen to openly denounce the Russian invasion of Ukraine. After making his statements, he faced pressure from the Kremlin, leading to the seizure of a major asset he owned, valued at USD 1 billion. Nonetheless, he returned to the subject in early August 2024, when he characterized the invasion as "madness" and called for it to be stopped immediately. He came under strong fire from the pro-Putin camp in Russia for his statements, notably from the ultranationalist Alexander Dugin.