How Did Andrey Melnichenko Make His Money?

Andrey Melnichenko’s Profile Summary

Company	EuroChem Group, SUEK (Siberian Coal Energy Company)
Position	Former Chairman and Principal Shareholder
Source of wealth	Fertilizers, Energy, and Coal
Also known as	Andrey Igorevich Melnichenko
Age	53
Education	Plekhanov Russian University of Economics
Citizenship	Russia
Residence	Switzerland, UAE
Family	Married, two children
Website, Social Media	https://www.eurochemgroup.com https://www.suek.com https://www.amfoundation.org

Andrey Melnichenko’s biography

Andrey Melnichenko, born on March 8, 1972, in Gomel, Belarus, is a self-made Russian billionaire known for his ventures in fertilizers, energy, and coal industries. He began his journey in business during the early 1990s, founding MDM Bank, which became one of Russia’s leading private banks. Melnichenko earned a degree in Physics from Moscow State University, later transferring to the Plekhanov Russian University of Economics, where he graduated in 1997.

In the early 2000s, he shifted his focus to industrial sectors, co-founding EuroChem, one of the largest fertilizer producers in the world, and SUEK, a leading coal and energy company. His companies played a crucial role in global food supply chains by providing essential fertilizers and energy resources.

Despite Western sanctions imposed after Russia’s invasion of Ukraine in 2022, Melnichenko stepped down from executive roles in his companies to protect them from geopolitical risks. He has since restructured his holdings, transferring ownership to his wife, Aleksandra Melnichenko, making her one of the world’s wealthiest women.

Melnichenko is known for his philanthropic activities, supporting educational and cultural initiatives in Russia. His family splits their time between Switzerland, the UAE, and other global locations. He also owns luxury yachts, including the famous "Sailing Yacht A", valued at over $500 million.

How did Andrey Melnichenko make money?

Andrey Melnichenko built his wealth by founding and leading major industrial companies in fertilizers and energy sectors. He started his entrepreneurial career in the 1990s, co-founding MDM Bank, which became one of Russia’s largest private banks. The bank’s success allowed him to diversify into the industrial sector, which laid the foundation for his vast fortune.

In 2001, Melnichenko co-founded EuroChem, which grew into one of the world’s leading producers of fertilizers. EuroChem played a critical role in the global food supply chain, producing nitrogen, phosphate, and potash fertilizers, essential for agriculture. The company expanded operations internationally, with plants and mines across Europe, Asia, and North America.

In parallel, Melnichenko co-founded SUEK (Siberian Coal Energy Company), one of Russia’s largest coal producers. SUEK became a key supplier of thermal coal to global energy markets, ensuring energy security for various countries. The company also invested in renewable energy projects, including hydropower.

Melnichenko’s fortune skyrocketed as EuroChem and SUEK grew to dominate their respective industries. His business strategy focused on vertical integration and global expansion, making his companies resilient to market fluctuations.

In 2022, after Western sanctions targeted Russian oligarchs, Melnichenko stepped down from his leadership roles and transferred ownership stakes to his wife, Aleksandra Melnichenko, ensuring the companies’ stability amid geopolitical risks. His wealth remains tied to the fertilizer and energy sectors, which continue to be essential industries globally.
What is Andrey Melnichenko net worth?

As of 2025, Andrey Melnichenko’s net worth is estimated to be $17.4 B.

What is Andrey Melnichenko also known as?

Andrey Melnichenko is known for his leadership in the fertilizer and energy industries. He co-founded EuroChem and SUEK, transforming them into global giants. His business acumen and philanthropic activities have made him one of Russia’s most influential billionaires.

Prominent achievements of Andrey Melnichenko

Melnichenko co-founded EuroChem and SUEK, transforming them into global leaders in fertilizers and energy. His companies have significantly impacted the global food supply chain and energy markets, supporting millions worldwide.

What are Andrey Melnichenko’s key insights?

Melnichenko believes in vertical integration and global expansion to build resilient businesses. He emphasizes the importance of sustainability and innovation in the fertilizer and energy industries, ensuring long-term growth.

Andrey Melnichenko’s personal life

Andrey Melnichenko is married to Aleksandra Melnichenko, a former Serbian model and musician. The couple has two children. Aleksandra became the primary owner of Melnichenko’s businesses after his resignation in 2022 to protect the companies from geopolitical risks.