The Urengoi-Chelyabinsk gas pipeline served as an early project for Leonid Mikhelson, who rose from a foreman in Siberia to become the chief executive officer of Novatek. Following the dissolution of the Soviet Union, he transitioned from state-managed infrastructure roles to lead one of the country's most significant private gas and petrochemical enterprises.
Early Career and Privatization
Born in 1955 in Kaspiysk, Mikhelson graduated in 1977 from the Samara Institute of Civil Engineering with a degree in Industrial Civil Engineering. He began his career in the Tyumen area of Siberia as a foreman for a construction and assembly firm. By 1985, he reached the position of Chief Engineer at Ryazantruboprovodstroy. Two years later, he was appointed General Director of Kuibishevtruboprovodstroy. When the Soviet Union collapsed, this entity became one of the first to undergo privatization, allowing Mikhelson to reshape the organization into Novatek.
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Mikhelson directed the holding company Novafinivest, which transitioned into the modern structure of Novatek. His industrial influence expanded to include the petrochemical sector. He serves as the chairman of the Board of Directors of ZAO SIBUR, where he maintains a 57.5% interest. Additionally, he holds a 25% stake in Novatek. Between 2008 and 2010, he chaired the boards of OAO Stroytransgas and OOO Art Finance. He also sits on the supervisory board of the OAO Russian Regional Development Bank.
Partnerships and Public Status
Throughout his career, Mikhelson has maintained a professional alliance with Gennady Timchenko. Together, they hold majority stakes in both Novatek and Sibur. In 2013, the pair sold 12% of Sibur to management partners. Mikhelson’s business activities and wealth have placed him on global rankings; as of 2025, Bloomberg Billionaires Index and Forbes estimated his net worth at $29.5 billion. He is a primary sponsor of the Russian Football Union.
Cultural and Civic Contributions
Mikhelson established the V-A-C Foundation to promote contemporary Russian art, naming it after his daughter, Victoria. The organization developed an art center in a renovated power station on the Moskva River, a project designed by the Renzo Piano Building Workshop. He has received several honors, including the Order of the Badge of Honour, the Medal of the Order for Merit to the Fatherland, 2nd class without swords, and the Medal for the 100 years anniversary of the foundation of the Tatar Autonomous Soviet Socialist Republic.
Fast facts
- Born: 1955, Kaspiysk
- Education: Samara State University of Architecture and Civil Engineering
- Citizenship: Russia, Israel
- Primary Holdings: Novatek, Sibur
- Current Position: Chairman of the Board of Directors of ZAO SIBUR
- Net Worth: $29.5 billion (2025)
- Sanctions: Listed in CAATSA (2017), British sanctions (2022)
Questions readers ask
What is the origin of the V-A-C Foundation?
It was established by Mikhelson to support contemporary Russian art, with a name derived from his daughter, Victoria.
What is Mikhelson's current role at Novatek?
He is a major shareholder, holding a 25% stake in the company.
Achievements
- Order of the Badge of Honour
- Medal of the Order "For Merit to the Fatherland", 2nd class without swords
- Medal "100 years anniversary of the foundation of the Tatar Autonomous Soviet Socialist Republic"
- Holdings: Novatek
- Educated at Samara State University of Architecture and Civil Engineering
