Ziyavudin Magomedov

Ziyavudin Gadzhievich Magomedov (Russian: Зиявудин Гаджиевич Магомедов, born 1968) is a Dagestani-Russian billionaire businessman. He is the main owner of the privately-held investment company Summa Group.[2] In March 2018, he was arrested and charged with "racketeering and embezzlement of state funds".

In this Eastern Slavic name, the patronymic is Gadzhievich and the family name is Magomedov.
Ziyavudin Magomedov
Born25 September 1968 (1968-09-25) (age 52)
Makhachkala, Russian SFSR, Soviet Union
NationalityRussian
EducationMoscow State University
OccupationBusinessman
Net worthUS$1.25 billion (March 2018)[1]
Spouse(s)Married
Children3
Websitewww.summagroup.ru/en/

Early life

Ziyavudin Magomedov was born in 1968 in Makhachkala, Dagestan.[3] In 1993 he earned a bachelor's degree in international economics from Moscow State University.[1]

Career

From 1994 to 1998, Magomedov was the President of IFC - Interfinance.[4]

In 2006, "Slavia" controlled by Magomedov, bought 76% of shares of "Yakutgazprom" for 628.5 million rubles. In 2006, "Summa Telecom" controlled by Magomedov and his brother, Magomed, received frequencies in the 2.5-2.7 GHz band for the provision of wireless technology WiMax throughout Russia, but there were problems with the use of those frequencies.[5]

In 2010, he became the representative of Russia in APEC and in 2012 Chairman of ABAC, the APEC Business Advisory Council.[4]

In January 2011, Magomedov with "Transneft" acquired company Kadina Ltd, which owned the majority (50.1%) of NCSP. In 2016 Ziyavudin bought MMA promotion Fight Nights Global and made the commercial company "Eagles MMA" for sponsoring MMA fighters.[6]

In the 2011 Finance magazine list, he had an estimated net worth of US$3 billion.[7]

In 2012 Magomedov's Summa Group bought a 50% minus one share stake in the United Grain Company.[8] In 2014, the company agreed to trade grain worth $500 million for oil with Iran.[9]

Civic activities

Since October 2010, he is the chairman of board of trustees of the Russian Tennis Federation.[10]

2018 arrest

On 31 March 2018, while preparing to fly to the United States,[11] Magomedov was arrested and charged with "racketeering and embezzlement of state funds" by Ministry of Internal Affairs of Russia. Magomedov denies the charges, but a Moscow court ruled on 31 March 2018 that he will remain in pre-trial custody, without bail, until 30 May 2018.[12][13][14] His detention was later extended until November 2018.[15] As of January 2021 he is still in jail.

Awards

Personal life

Magomedov is married, with three children, and lives in Moscow.[1]

References
  1. "Forbes profile: Ziyavudin Magomedov". Forbes. Retrieved 1 April 2018.
  2. "Summa Group". www.summagroup.ru. Retrieved 1 April 2018.
  3. Vinogradov, Sergey (2012-09-19). "A port to withstand the storm". Retrieved 2018-04-03.
  4. "Ziyavudin Magomedov". www.summagroup.ru (in Russian). Retrieved 2018-04-03.
  5. Starinskaya, Galina; Sinitsyna, Irina; Mukhametshina, Elena; Bocharova, Svetlana (3 April 2018). Как братья Магомедовы складывали «Сумму» [How the Magomedov brothers squeezed the "Summa"]. Vedomosti (in Russian). Archived from the original on 13 April 2018.
  6. "Арестован главный спонсор Хабиба. 7 дней до боя Нурмагомедов – Фергюсон". matchtv.ru. Retrieved 1 April 2018.
  7. "«Финанс.» Рейтинг российских миллиардеров 2011". «Финанс.». Retrieved 1 April 2018.
  8. "UPDATE 1-Russia's Summa buys into the grain big league". Reuters. 2012. Retrieved 26 August 2017.
  9. "UPDATE 2-Russia may exchange grain worth $500 mln for Iranian oil". Retrieved 26 August 2017.
  10. "Ziyavudin Magomedov has been elected the Chairman of the Board of Directors of NCSP". www.nmtp.info. Retrieved 2018-04-03.
  11. "Russian Billionaire Arrest Jolts Stocks, Fuels Cabinet Shake-Up Speculation". Bloomberg.com. 2018-04-02. Retrieved 2018-04-03.
  12. Seddon, Max (March 31, 2018). "Russian billionaire charged with embezzlement". Financial Times. Retrieved April 1, 2018.
  13. Nikolskaya, Polina (March 31, 2018). "Russian tycoon Magomedov arrested on embezzlement charges". Reuters. Retrieved April 1, 2018.
  14. Editorial, Reuters. "Russian tycoon Magomedov to stay in pre-trial custody until May". U.S. Retrieved 2018-04-03.
  15. "Summa Group owner to remain detained in embezzlement case". RAPSI. Retrieved 2018-09-04.
  16. "Presidential Decree of April 18, 2012 № 458 "On conferring state awards of the Russian Federation"". pravo.gov.ru. Retrieved 1 April 2018.
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