Alexander Svetakov Net Worth $28 Billion
Absolut Group – What Is It?
Alexander Svetakov is a banking and real-estate billionaire with an estimated net worth of $2.8 billion. He’s the 39th wealthiest individual in Russia and 503rd in the list of World Billionaires.
He ran a wholesale company together with his group by importing home appliances and electronic equipment from Singapore. Just last year, the wholesale appliance department of Absolut made $2 billion in sales. He founded Absolut bank in 1993 which he sold for nearly $1 billion to a Belgian group merely annually before the 2008 Russian fiscal crisis. He served as the Director General and is the majority stockholder of Absolut Group as it had been founded.
The amount of money that Alexander Svetakov got after he sold the bank was used to get land after which build commercial spaces and affordable housing. Last year, he simplified his business interests and sold his industrial assets in the holding company, Absolut Group. His interests were concentrated to real-estate, trading and insurance.
In 2002, Svetakov established the Absolut Help charity fund that supports the disabled and dispenses aid to orphanages and hospitals. He can also be a major patron of the Kremlin Cup tennis tournament.