Andrey Guryev Explained

Andrey Guryev
Native Name:Андрей Гурьев
Native Name Lang:ru
Birth Date:24 March 1960
Birth Place:Lobnya, Moscow Oblast, Russian SFSR, Soviet Union
Nationality:Russian
Occupation:Businessman
Founder & CEO, PhosAgro
Children:2, including Andrey Guryev, Jr.
Alma Mater:Russian State University of Physical Education, Sport, Youth and Tourism
Spouse:Evgenia
Relatives:Alexei Motlokhov (son-in-law)

Andrey Grigoryevich Guryev (Russian: Андрей Григорьевич Гурьев; born 24 March 1960) is a Russian billionaire businessman. He is the former head of PhosAgro, one of the world's four largest producers of phosphate-based fertilizers. As of March 2022, his net worth is estimated at US$4.8 billion.[1]

He acquired his wealth in the 1990s after the collapse of the Soviet Union, obtaining previously state-owned assets at undervalued prices.[2] In 2004, he obtained Mikhail Khodorkovsky's half of PhosAgro at an extremely low price, as Khodorkovsky was arrested by the Vladimir Putin regime.

Early life

Guryev was born in Lobnya, a town 27km (17miles) north of Moscow. He graduated in 1983 from the Russian State University of Physical Education, Sport, Youth and Tourism,[1] with a degree in physical education and sport. He graduated from University of Greenwich with a bachelor's degree in economics in 2003, as well as at the Russian Government Academy of National Economy, graduating in 2004, and at St. Petersburg National Mineral Resources University, where he graduated with post-graduate certificate in Economics in 2010.[3]

Guryev is a Judo master and from 1978 to 1987, was an instructor and committee secretary for the Mosgorsovet's Dinamo Komsomol organization.[4]

Career

In 1990, Guryev started his career working for Mikhail Khodorkovsky at the Menatep Group.[1] He rose through the ranks and was appointed chairman of Apatit, a subsidiary of the Menatep.

From 1990 to 1995, he was Deputy Director of the Menatep Group.

In 1995, he was appointed as Head of the Mining and Chemical Products Department, First Deputy CEO of ROSPROM and subsequently head of the Y. V. Samoilov Research Institute for Fertilizers and Insectofungicides (NIUIF).[5]

In 2011, Guryev owned 71% of PhosAgro, with 10% owned by Vladimir Litvinenko.[6]

In 2012, PhosAgro purchased 20% of Apatit. Guryev led a management buyout to acquire control of Apatit and PhosAgro, and now owns 100% of the company.[7]

Between 2011 and 2013, Guryev served as a Member of the Federation Council from the executive branch of the Murmansk oblast government.[8]

In 2013, Guryev was appointed Deputy Chairman of PhosAgro's Board of Directors.[4] [9] This came after he made the decision to step down as Senator, citing the new laws regarding foreign bank account owned by Russian entrepreneurs as his reason for stepping down after 11 years as a politician.[10]

In 2014, Guryev sold an increased stake in PhosAgro to Vladimir Litvineko, bringing the latter's total ownership to 9.73%, up from 4.92% in 2011.[11]

In early 2015, current CEO Andrei Guryev Jr, Andrey Guryev's son, was reported as saying, “PhosAgro is the most profitable phosphate fertilizer company in the world.”[12]

PhosAgro is structured so that Guryev and his family are recipients of a trust, rather than outright ownership in their names, though Evgenia Guryev, Guryev's wife, owns 4.82% of PhosAgro in her own name.[13]

In July 2016, Forbes estimated his net worth at US$4.3 billion.[1]

He is vice president of the Russian Union of Chemists.[14]

Sanctions

Sanctioned by the UK government in 2022 in relation to Russo-Ukrainian War. [15]

On 9 March 2022 Guryev's son was put on a list of sanctions by European Union.[16]

In January 2023 Japan imposed sanctions on Andrey Guryev.[17]

Sanctioned by New Zealand in relation to the 2022 Russian invasion of Ukraine.[18]

Personal life

Guryev is married to Evgenia and they have two children, Andrey Guryev, Jr. and Yulia Guryeva-Motlokhov. Andrey Guryev, Jr, is CEO of PhosAgro.[19] Yulia Guryeva-Motlokhov is married to hedge fund manager Alexei Motlokhov, they have twin sons, and live next door in Highgate.[20]

The Guryevs own Witanhurst in Highgate, London's second largest house after Buckingham Palace, through an offshore company registered in the British Virgin Islands.[21] He owns the five-storey penthouse of St George Wharf Tower in London.[22] Guryev has never given an interview to the press.[23]

Guryev owned a yacht, Alfa Nero, through an offshore company which is planned to be auctioned off in Antigua and Barbuda due to his sanctions. [24] [2] [25]

Notes and References

  1. Web site: Forbes profile: Morris Kahn . Forbes . 12 March 2022.
  2. 2015-05-23 . London's Most Mysterious Mansion . 2022-03-13 . The New Yorker . en-US.
  3. Web site: Andrey Guryev, PhosAgro OAO: Profile & Biography. Bloomberg. 10 March 2016.
  4. Web site: Andrey G. Guryev | Management | About the company . PhosAgro.com . 29 March 2016 . 22 March 2016 . https://web.archive.org/web/20160322201313/http://www.phosagro.com/about/management/directors/item5346.php . dead .
  5. Web site: Andrey G. Guryev | Corporate Governance | Investors . PhosAgro.com . 29 March 2016 . 16 March 2016 . https://web.archive.org/web/20160316010053/https://www.phosagro.com/investors/corporate/directors/item5346.php . dead .
  6. News: Popova. Olga. IPO yields $538m for Guryev. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/news/business/news/ipo-yields-538m-for-guryev-2313267.html . 7 May 2022 . subscription . live. 24 May 2015. The Independent. 14 July 2011.
  7. News: Phosagro buys stake to secure fertiliser component supplier. 5 September 2012. Reuters. 15 March 2016.
  8. Web site: Murmansk senator re-elected. Barentsobserver. 15 March 2016.
  9. News: PhosAgro chief beneficiary Guryev joins board as deputy chairman (Part 2) . June 2013 . Russia & CIS Business & Financial .
  10. Web site: Andrei Guryev Leaves Federation Council News. The Moscow Times. 15 March 2016.
  11. News: Litvinenko buys $269 mln in PhosAgro shares from Guryevs, boosts stake to 14.5% (Part 2) . April 2014 . Russia & CIS Business & Financial Newswire .
  12. News: Russian fertiliser firm Phosagro primed for growth as oil, rouble struggle. 26 January 2015. Reuters. 20 March 2016.
  13. Web site: Shareholder Information . PhosAgro.com . 29 March 2016.
  14. Web site: Russian Chemists Union Leadership . 10 March 2016 . www.ruschemunion.ru.
  15. Web site: CONSOLIDATED LIST OF FINANCIAL SANCTIONS TARGETS IN THE UK . 16 April 2023.
  16. https://www.forbes.com/sites/carlieporterfield/2022/03/09/eu-targets-four-more-russian-billionaires-in-latest-wave-of-sanctions/?sh=5dd8e7c75142 Forbes: EU Targets Three More Russian Billionaires In Latest Wave Of Sanctions
  17. Web site: ウクライナ情勢に関する外国為替及び外国貿易法に基づく措置について . 7 February 2023.
  18. Web site: Russia Sanctions Regulations 2022 . 11 February 2023.
  19. News: Caesar. Ed. House of Secrets: Who owns London's most expensive mansion?. 24 May 2015. New Yorker. June 2015.
  20. Web site: Row over hedge fund boss's 'theme park' plan for Highgate. 3 July 2017.
  21. News: Ball . Emanuele Midolo, George Greenwood, Tom . Secrets of £300m Witanhurst, the oligarch mansion . . en . 2022-03-06 . 0140-0460.
  22. News: The London skyscraper that is a stark symbol of the housing crisis . 25 May 2016 . The Guardian .
  23. News: House of Secrets. Caesar. Ed. 1 June 2015. The New Yorker. 0028-792X. 20 March 2016.
  24. Web site: Garside . Ryan Chittum, Tim Robinson, and Juliette . Offshore Gurus Help Rich Avoid Taxes on Jets and Yachts . 2022-03-06 . OCCRP . en.
  25. Web site: Auction of Alfa Nero to Proceed. 24 May 2023. en.