Igor Altushkin (Игорь Алексеевич Алтушкин) is a Russian business executive in the metals industry. He is the founder and main owner of Russian Copper Company (RMK) and serves as the chairman of its board of directors. Russian Copper Company is the third-largest copper production company in Russia. Altushkin is also a 20% shareholder of Ural Bank for Reconstruction and Development. According to Forbes, as of March 2020, Altushkin had a net worth of $4.6 billion. His substantial fortune placed him at 452 on the 2019 Forbes Billionaires list.
Early Life and Education
Igor Altushkin was born in Yekaterinburg, Russia on 10 September 1970. He completed his education at Ural State Economic University where he achieved a Bachelor of Arts/Science degree.
Career
Altushkin began his career in the early 1990s in the metal industry as a scrap metal trader. Through his company Aeron, Altushkin collected and reprocessed non-ferrous metals to be redeployed into the market. He eventually launched several other businesses in the industry. His group of companies became responsible for meeting most of the scrap metal demands in the region. During this period of time, he also held the role of general director at Yekaterinburg Commerce and Industry Company. In the coming years, Altushkin combined all aspects of the metal industry into his business interests, from mining to processing and manufacturing.
Recent Business Ventures
In 2016, Igor Altushkin began expanding his business interests to include the zinc with an investment in the Chelyabinsk Zinc Factory, a leader in Russian zinc processing. The businessman also has several projects underway in copper-rich countries like Kazakhstan.
Amassing a Significant Fortune
In the second decade of the 21st century, Igor Altushkin’s fortune fluctuated and then drastically increased. In March 2010, it was listed as $1.1 billion, placing him in 62nd place in Russian Forbes Magazine as one of the richest businessmen in Russia. Altushkin’s wealth varied between $1.2 and $1.7 billion until March 2017 when he amassed an estimated sum of $2 billion. By March of the following year, his wealth increased to $3.4 billion and the following year to $4.3 billion.
Social Development
Over the years, Igor Altushkin has been actively involved in various social development initiatives. He serves as a board member of the Gorny National University of Mineral Resources and an active member of the Sverdlovsk Regional Union of Industrialists and Entrepreneurs. Altushkin provides financial backing and support to orphaned children, children who are severely ill, and families who are destitute through his company’s charitable foundation.
Awards
In May 2017, Russian President Vladimir Putin presented Altushkin with the Order of Friendship.
Personal Life
Igor Altushkin is married and has six children. Altushkin resides in Yekaterinburg, Russia and owns one of Madonna’s former residences in London. He is a fan of target shooting and boxing and one of his business ventures co-founded RCC Boxing Promotions with the goal of promoting the sport by organizing matches. Altushkin is also provides much support to the Russian Orthodox Church.