Iskander Makhmudov Profile

Iskander Makhmudov is a Russian businessman and a great humanitarian. He’s regarded as “One of Russia’s most prominent and civically involved industrialists” who has contributed immensely towards society, courtesy of Yekaterinburg News.

BornDecember 5, 1963 (age 52), Bukhara, Uzbekistan

SpouseMargarita Makhmudova

Net worth3.3 billion USD (2015) Forbes

EducationTashkent University of Information Technologies

Board member ofTransmashholding

Early life

Iskander Makhmudov was born on December 5, 1963, a town called Bukhara, Russia. He spent most of his childhood in Tashkent. His father was a constructor and his mother was a teacher at the university he attended. During his years as a freshman, he managed to learn multiple languages with the help of his mother.

At that time, the Faculty of Oriental Studies of the Tashkent University emphasized and associated mostly with military organizations, and trained their staff to work in The East, where the Soviet Union supplied weapons.

Shortly after graduating from the university, he moved to Libya then Iraq in search of greener pasture. Whilst he was in Libya, he worked at an organization called the Principal Engineering Directorate which was based in Iraq and specialized in construction works.


Iskander Makhmudov graduated with honors from the Tashkent University and acquired a degree in oriental Studies. He is also a good linguist as he translator by educational background.

During the 1980’s, the U.S military ran an operation called El Dorado Canyon in Tripoli. The U.S forces launched 60 tons missiles and bombs on Libya’s military facilities which initiated a war. During the war, a number of Russian government specialists were stationed in Tripoli. They sat out their balconies and watched as the clashes unfolded. Iskander was one of those men during the bombing campaign as he served as an Arabic-Persian translator.

Mr. Makhmudov has spent a lot of time working for various Soviet military organizations in Libya and Iraq.

Various business positions he’s worked for:

1991-1994 Deputy Marketing Director, JSC Alice

1994-1996 Director, JSC Industrial-Financial Company Meta Service.

1996 CEO, Ai (mining and processing plant)

In 1999, he created UMMC.

Currently, Mr. Makhmudov is the main owner of Uralskaya Gorno-Metallurgicheskaya Kompaniya (UGMK) Holding, which is the fourth largest non-ferrous metallurgical company in the Soviet Union and Russia’s second-largest copper producer in terms of output.

Charitable Giving

Mr. Makhmudov has a charity foundation that funds clinics that have expanded their operations to cater for only the children of UMMC employees, but also disabled children, orphans and children from disadvantaged families in the community for absolutely free. He has donated over a billion dollars toward making sure those less fortunate have the social amenities they need for a better life they couldn’t afford.

Business Activities

Mr. Makhmudov has budgeted almost 60 billion rubles in 2013 for investments. “We’re signing contracts for next year and have started budgeting. The average copper prices will be around $8,000 a ton in 2012. We’re hoping it stays at that level next year. We’re also planning the same investment program as this year – 60 billion rubles,” said his business partner.

Personal Life

Iskander Makhmudov was born to an ethnic Uzbek Muslim family. He is married and a father of one.

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