Iskandar Makhmudov Enters Bloomberg Billionaires Index

Uzbekistan-born Russian businessman Iskandar Makhmudov has placed 405th on the Bloomberg Billionaires Index, with his net worth estimated at $9.04 bn.

Makhmudov is the founder of Ural Mining and Metallurgical Company, one of Russia’s largest producers of copper and coal. The company reported revenue of $3.2 bn in 2023. The businessman also holds stakes in Transmashholding, a major manufacturer of railway equipment, and Transoil, a logistics firm serving the oil sector.

Since the start of the year, Makhmudov’s wealth has increased by $1.17 bn, despite a decline of $292 mln during the most recent trading day.

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