Iskander Makhmudov Net Worth

Makhmudov landed his first position in business with the Trans-World Group, the largest metal trader in Russia at the time. He went on to hold several other business positions until he eventually founded UGMK also known as Ural Mining and Metallurgical Company (UMMC) in 1999. Whereas the main source of his wealth comes from his own company, Makhmudov also makes profits from his stake in Transmashholding, the largest maker of locomotives and retail equipment in Russia. Furthermore, Makhmudov established a partnership with state-owned Russian Railways and the French machine-building giant Alstom. As he became more and more eminent profile in the business circles, Makhmudov has also increased his involvement in social, civic and philanthropic causes, having donated more than $1 billion since 2001.