Iskander Makhmudov
Source of wealth: Mining, metals, machinery
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The scale of their wealth
Health
The price of life
Let's compare Iskander Makhmudov's fortune with the healthcare spending of a massive country
Iskander Makhmudov could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 4.4 years.
But even if we compare their fortune with that of a rich country
On the other end, Iskander Makhmudov could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.9 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Iskander Makhmudov could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 2.9 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Iskander Makhmudov could pay for it entirely for 3.9 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Iskander Makhmudov could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 16.4 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Iskander Makhmudov with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.4 years.
Gold
Everyday luxuries
Iskander Makhmudov's fortune is equivalent to 67 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Iskander Makhmudov could buy 17,799,117 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 3 trucks to transport them. Although Iskander Makhmudov will almost certainly have enough money left over to pay for the gas.
Biography
The Uzbekistan-born Makhmudov was the main owner of copper producer Ural Mining Metallurgical Company (UMMC), which has controlling stakes in more than 40 plants in 11 regions of Russia.
In 2022 UMMC press office reported that Makhmudov was no longer the controlling beneficiary of the company and left the board of directors. Forbes still counts the shares as his.
Makhmudov is also a non-controlling shareholder in Transmashholding, Russia's largest maker of locomotives and rail equipment.
UMMC spent $100 million building the Shayba ice arena for the 2014 Sochi Olympics, which it gave to the Russian government after the games.
His business partner Andrei Bokarev, who holds stakes in several of the same companies as Makhmudov, is also a billionaire.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison