Leonard Blavatnik is a Ukraine-born American entrepreneur and a self-made billionaire, who currently resides in London, United Kingdom. He has an estimated net worth of $16 billion, which makes him one of the wealthiest people in the world.
Blavatnik derived most of his wealth from his diversified investments through Access Industries in North and South America, Europe and Russia. He serves as the President and Chairman of Access Industries, an international industrial group he founded in 1986.
Blavatnik was born on 14th June, 1967 in Odessa, Ukraine to a Jewish family. He joined the University of Moscow, and later on received a Masters in computer science from Columbia University. In 1989, he obtained an MBA degree from Harvard Business School.
Together with Viktor Vekselberg, who was his friend at the University, he founded Renovo Investment. The two friends and business partners then joined forces with Mikhail Fridman’s Alfa Group to set up the AAR venture.
On August 2005, Blavatnik’s Access Industries purchased Basell Polyolefins, a petrochemicals and plastics manufacturer for $5.7 billion. On December 2007, Basell concluded its acquisition of the Lyondell Chemical Company for approximately $19 billion. LyondellBasell, the resulting company, is currently the third largest chemical company in the world, based on net sales.
Blavatnik is also a devoted philanthropist, who has supported numerous philanthropic and cultural institutions for more than 15 years. He has also served as the major benefactor for many art and cultural exhibitions, including National Portrait Gallery, Tate Modern, British Museum, Museum of Modern Art and Royal Opera House.
In 2010, an announcement was made citing that Blavatnik and his foundation known as Blavatnik Family Foundation would make a donation of £75 million to the University of Oxford towards the establishment of a new school of government. The donation is one of the largest philanthropist gifts in the institution’s 900-year history. Blavatnik is married to Emily Appelson, with whom he has two sons and two daughters.