German businessmanVladimir Iorich has an estimated net worth of $1.55 billion as of March 2013 according to Forbes. Most of Iorich’s net worth is acquired from his investments in steel and mining industry. This Russia-born German businessman is a large stockholder inMechel AOA, a Russian steel and mining company run by billionaire Igor Zyuzin. In 2007, a intense dispute started between Iorich and Zyusin which led the former to sell his shares in the business. Eventually, he foundedPala Investments which was situated in Zug, Switzerland. The company possesses a couple of mining outfits in Sierra Leone, Canada and Australia. Vladimir Iorich completed his bachelor’s degree in engineering fromKuzbass Polytechnic Institute. He is now married and has one child.