Leonid Mikhelson

Leonid Viktorovich Mikhelson (born 11 August 1955) is a Russian billionaire businessman and the founder, chairman, and chief executive officer of Novatek, Russia's largest independent natural gas producer. Mikhelson built his fortune through strategic investments in the energy sector, beginning with pipeline construction in the 1980s and establishing Novatek in 1994 as Novafininvest, which he transformed into a major player in natural gas extraction and liquefaction projects. He holds significant stakes in Novatek (approximately 25%) and the petrochemical company Sibur (around 57.5% combined with partners), contributing to his estimated net worth of $28.4 billion as of October 2025, positioning him as one of Russia's wealthiest individuals. Beyond energy, Mikhelson is a notable patron of contemporary art, having funded the renovation and operation of the GES-2 cultural center in Moscow to promote artistic initiatives.

Leonid Viktorovich Mikhelson was born on August 11, 1955, in Kaspiysk, Dagestan ASSR, Russian SFSR, Soviet Union, into an Ashkenazi Jewish family. His father, Viktor Zelmanovich Mikhelson (1916–1987), specialized in the supervision and construction of oil pipelines, eventually rising to a directorial role in that sector by the late 1970s. This professional background placed the family within the Soviet Union's industrial apparatus, though without significant wealth or elite connections that could confer privilege.

Mikhelson's upbringing occurred in the constrained environment of late Soviet Dagestan, a multi-ethnic republic marked by resource extraction industries near the Caspian Sea and limited personal economic opportunities under centralized planning. Kaspiysk, a coastal town with a naval focus and growing infrastructure needs, provided an early vantage on engineering feats, influenced by his father's pipeline work amid the era's material shortages and ideological controls. The Jewish heritage of the family, amid broader Soviet antisemitism and restrictions on religious practice, contributed to a context of self-reliance rather than reliance on communal or familial networks for advancement.