Arkady Rothenberg is an influential Russian businessman who built his fortune through contracts related to construction and energymaintaining close relations with the president Vladimir Putin.
How Arkady Rotenberg became a millionaire
The businessman amassed his fortune mainly through lucrative construction contracts and energy projects supported by the Russian state. During the 1990s, he took advantage of his close relationship with Vladimir Putinhis childhood friend and confidant, to obtain important contracts in the infrastructure sector, mainly in the construction of gas and oil pipelines. Together with his brother, Boris, he founded Stroygazmontazh (SGM), which became the largest supplier of gas pipelines and electric power supply lines in Russia.
The relationship with Putin also made it possible for him to obtain high value contractssuch as the construction of a 1,500 mile pipeline for Gazprompaid at inflated prices compared to similar projects. Through his company SGM, Rotenberg obtained thousands of million dollars in revenuewhich consolidated his position as one of the most powerful oligarchs in the country.
In addition to its infrastructure projects, the Russian expanded his empire to other sectorssuch as the SMP bank, which he founded with his brother in 2001, and participation in the sports industry, as president of the Dynamo Moscow hockey club. It also benefited from large-scale contracts during the build-up to the Winter Olympics in Sochi in 2014.
What are the sanctions given to Rotenberg about?
The sanctions imposed on Arkady Rotenberg arose in response to his closeness to Russian President Vladimir Putin and his involvement in government-linked projects, especially after the annexation of Crimea in 2014. As of that date, the United States and the European Union included the businessman on his blacklists, freezing your assets yrrestricting their international movements.
The measures were primarily a political response to his role in businesses that benefited the Kremlin. In particular, He was accused of facilitating offshore wealth networks that helped the Russian political and economic elites to evade international financial controls. These restrictions affected several of its companies, such as SMP bank, which lost access to Visa and MasterCard services due to the imposed restrictions.
In the following years, Rotenberg was subject to more sanctions, both for his relationship with Putin and for his involvement in the energy and state infrastructure industry. These interventions were reinforced following the invasion of Ukraine in 2022, when several countries, including the United States and the United Kingdom, decided to tighten restrictions, further affecting their assets and influence networks outside Russia.
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What is Arkady Rotenberg’s net worth today?
According to the latest report of ForbesArkady Rotenberg’s net worth is estimated at 4 billion dollars. This places it in the 875th place in the world ranking of billionaires. Over the years, his fortune has been amassed primarily through construction contracts and infrastructure projects linked to the Russian government, particularly in the gas pipeline, energy and transportation sectors.
Despite international sanctions that have affected its ability to operate in certain markets, Rotenberg still owns several key companies in Russiasuch as Stroygazmontazh, its main construction company, and SMP bank. In addition, he has significant assets in sectors such as sports, being president of the Dynamo Moscow Hockey Club, and in the real estate field.
His wealth has been the subject of controversy due to his close ties to President Vladimir Putin, which has raised suspicions about the origin of much of his fortune. However, its ability to maintain and expand its wealth, despite sanctions and international pressure, reflects its influence on Russia’s economic and political context.
Source: Ambito
