Oleg Vladimirovich Deripaska (Олег Владимирович Дерипаска) (born January 2 1968 in Dzerzhinsk, Nizhny Novgorod Oblast) is a Russian billionaire, and a member of the Board of Directors of UC Rusal, a Russian aluminium industry company
Deripaska is one of 16 global business leaders who drafted CEO Climate Policy Recommendations to G8 Leaders, a document outlining international business community's proposals to effectively tackle global warming. The proposals were signed by more than 100 of the world's leading corporations and handed to Japanese Prime Minister Yasuo Fukuda on June 20, 2008. G8 leaders discussed the recommendations during the summit in Japan on July 7-9, 2008. The process was coordinated by the World Economic Forum in collaboration with the World Business Council for Sustainable Development
In 2004, Deripaska was appointed by the President of Russia to represent the country in the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) He has held the position of Chairman of ABAC Russia since 2007.
Deripaska is Vice President of the Russian Union of Industrialists and Entrepreneurs, Chairman of the Executive Board of the Russian National Committee of the International Chamber of Commerce and a member of the Competitiveness and Entrepreneurship Council, an agency of the Russian Government
He sits on the Boards of Trustees of the Bolshoi Theatre, the School of Business Administration, the School of Public Administration, and the School of Economics at Moscow State University and the School of Business Administration at St. Petersburg State University. Deripaska is a co-founder of the National Science Support Foundation and the National Medicine Fund.
The Guardian mentions:
(…) as a student at Moscow State University, he was skint. The Soviet Union had just collapsed, the country was in turmoil and "decay"; Deripaska worked on building sites across Russia to prevent himself from starving.
"We had no money. It was a very practical question every day. How do I get money to buy food and keep studying?" he recalls. There was little future in his university subject, theoretical physics. He abandoned his studies and started business as a small-time metals trader.
Between 1993 and 1994 he accumulated a 20% stake in the Siberian aluminium factory - to the annoyance of the plant's communist-era bosses. "I was expecting they would treat me as a shareholder. But they said, 'No, you have the shares, but we run our business. And it's separate.'"
Deripaska persuaded the workforce not to go on strike, boosted production, and - it's not entirely clear how - crushed the local mafia.
He is currently the richest person in Russia according to an April 18, 2008 Forbes magazine report, with "a fortune of $28.6 billion -- $11.8 billion more than he was worth last year." Forbes lists, World's Billionaires However, he has consistently said that the estimate of his wealth was exaggerated and he should have been ranked far below the top ten on the list of Russian billionaires.
Deripaska has a London home at 6 Belgrave Square, which was originally the town residence of the Dukes of Bedford. In September 2006, Deripaska was rumored to be interested in buying Arsenal F.C. for £350m; however, Arsenal subsequently denied these claims. Deripaska also denied these rumors.
In 2006, GAZ Group, which combines automotive assets of Basic Element's Russian Machines Corporation, purchased 100% shares of LDV Holdings (producer of light commercial vehicles, the city of Birmingham, Great Britain) from the American Fund Sun Capital The main product of LDV is the light commercial vehicle Maxus In less than a year after the Group had gained control of LDV the factory returned to profitability.
In April 2007, Deripaska acquired 25 percent (€1.05 billion) of the Austrian construction company STRABAG SE, which is owned by Hans-Peter Haselsteiner. STRABAG SE is the 6th largest construction business in Europe. He also bought 9.99 percent big stakes in the German construction company HOCHTIEF.
On 25 July, 2008 GAZ Group launched the serial production of Volga Siber sedan, which is based on a platform acquired from the American corporation Chrysler and was designed by the leading British studio UltraMotive Engineers and specialists from Magna International played an active role in the installation and fine tuning of the assembly line, as well as in the training of the Group employees. GAZ Group plans to add other models to the production at the assembly line.
On October 3, 2008 Magna International announced that Russian Machines terminated its participation as a shareholder of the Canadian auto parts maker However the companies said that development of autocomponents business in Russia, as well as other joint projects, would continue.
It was reported in May 2008 that Deripaska had shown an interest in purchasing an English Premier League Football Club, and was strongly linked to purchasing West Bromwich Albion. In June 2008, Albion announced that they are looking for serious investors and/or buyer and The Daily Mirror stated that the move of Oleg Deripaska taking over is a possibility. However, Deripaska has made no indication that he is interested in buying West Brom. Earlier he had even denied having any commercial interest in English football industry in an interview with The Guardian newspaper
A law suit against Deripaska was filed in the Commercial Court of the High Court in London on November 24, 2006 by Michael Cherney. Cherney is seeking $3 billion, which he claims represents 20 percent of Rusal's stock. In May 2007 Judge Langley refused to hear the case, because Deripaska is not domiciled in England and the claim form had not been duly served upon him.
On July 3, 2008, British High Court Judge Christopher Clarke ruled that Cherney had the right to sue Deripaska for $4 billion (£2 billion). A spokesman for Deripaska stressed that the ruling was "not on the substance of the case...[R]ather, it is a procedural judgment about where that case should be heard" adding "We disagree with the pejorative claims made about Russian courts in the judgment. "On the substance of the case, we vehemently reject the vexatious claims made by Mr Cherney, and look forward to setting out our case on these claims", he said in the statement