Leonid Mikhelson Net Worth (Updated 2024)

What is Leonid Mikhelson’s Net Worth?

Leonid Viktorovich Mikhelson is a Russian-Israeli billionaire businessman and one of the wealthiest individuals in Russia. According to the 2024 Forbes Billionaires List, Mikhelson has a net worth of $27.4 billion.

Mikhelson’s primary source of wealth comes from his majority stake in Novatek, Russia’s largest independent natural gas producer. He serves as the CEO, chairman, and owns a 25% stake in the publicly-traded company, which produces around 12% of Russia’s natural gas. Novatek’s market capitalization is estimated to be over $60 billion as of 2024.

In addition to Novatek, Mikhelson holds a 30.6% stake in Sibur, a major Russian petrochemical company. He acquired a controlling interest in Sibur from Gazprombank in 2010-2011, in partnership with fellow billionaire Gennady Timchenko.

Mikhelson’s net worth has fluctuated over the years, primarily due to changes in the valuations of his holdings in Novatek and Sibur. According to Forbes, his net worth was:

  • $24.9 billion in April 2021
  • $17.1 billion in April 2020
  • $21.6 billion in April 2023

Despite facing sanctions from the United States, United Kingdom, and other countries due to his ties to the Russian business sector, Mikhelson’s wealth has continued to grow, driven by the strong performance of Novatek and Sibur in the global energy and petrochemical markets.

Here’s the breakdown of Stefan Quandt’s net worth:


Stefan Quandt

Net Worth:

$27.4 Billion

Date of Birth:

May 9, 1966



If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Leonid Mikhelson

Early Life

Leonid Viktorovich Mikhelson was born on August 11, 1955, in Kaspiysk, Russian SFSR, Soviet Union (now Russia), into an Ashkenazi Jewish family. He graduated with a degree in Industrial Civil Engineering from the Samara Institute of Civil Engineering in 1977. Mikhelson began his career as an engineer, working on significant projects such as the Urengoi-Chelyabinsk gas pipeline.


Mikhelson’s career trajectory saw a rapid rise through various leadership roles in the construction and gas industries. In 1985, he became the Chief Engineer of Ryazantruboprovodstroy, and by 1987, he was appointed General Director of Kuibishevtruboprovodstroy. Following the privatization of Kuibishevtruboprovodstroy in 1991, the company was renamed NOVA, and Mikhelson continued as its Managing Director until 1994.

In 1994, Mikhelson founded Novafinivest, which later became known as Novatek, Russia’s largest independent natural gas producer. Under his leadership, Novatek has grown significantly, producing about 12% of Russia’s natural gas. Mikhelson owns a 25% stake in Novatek and serves as its CEO and chairman. In addition, he holds a 30.6% stake in Sibur, a major petrochemical company.

Mikhelson’s strategic investments and leadership have propelled him to the top ranks of Russia’s wealthiest individuals. His net worth has seen substantial growth over the years, with Forbes estimating it at $21.6 billion in 2023. Bloomberg Billionaires Index reported his net worth at $28.8 billion as of August 2022.

Personal Life

Leonid Mikhelson is married and has two children. He resides in Moscow, Russia, and also holds Israeli citizenship. Mikhelson has a profound interest in contemporary art, which led him to establish the V-A-C Foundation, named after his daughter Victoria. The foundation promotes contemporary Russian art and has international collaborations with institutions like the New Museum in New York and the Tate museums in the UK.

Mikhelson’s philanthropic efforts in the arts are significant, with notable projects such as the GES-2 House of Culture in Moscow, designed by Renzo Piano. Despite facing international sanctions due to his business ties and the geopolitical climate, Mikhelson’s influence in both the business and cultural sectors remains substantial.

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