Oil is a big business making headlines in every single newspaper, every single day. The fluctuating rates of Oil effects the economy of countries and governs the policies and plans accordingly. Now a day’s not only Economist or Business executives but even a common man understands to which extend Oil prices effects GDP of a country. The
privatization of Oil business in Russia was one of the biggest decisions of entire history. After the disintegration of Soviet Union, the oil business was accessible and impulsive; many businessmen grabbed this opportunity and made their fortunes out of it. Hence, one can observe that the Ex-Soviet Government workers dominate the list of oil Tycoons. We present you the list of ten richest oil tycoons across the globe.
Here are the top 10 Richest Oil Tycoons in the world in 2017-2018
10. Elaine Marshall
Net Worth: $8.3 Billion
Elaine Marshall holds approximately 15 % of business share in Koch Industries. Koch Industries is owned by Charles and David Koch, and is World’s biggest Oil Industry. She inherited her stakes in the Koch refinery from her late husband E. Pierce Marshall .Apart from being an stake holder in Koch Industries, Elaine Marshall is also the current North Carolina Secretary of State. Elaine Marshall’s family is spending fortunes on lawyers as Elaine’s Father in Law J.Howard II was of romantic nature. Also, a federal court in New Orleans has claimed $75 millions in back Taxes. She also shelled out compensation of $49 million to Dannielynn Smith, heir of J. Howard and Anna Nicole Smith.
9. Mohammed Al Amoudi
Net Worth $8.5 Billion
Not surprisingly, A Saudi Arabian National Sheik Mohammed Al Amoudi makes to the list. A person with dual nationality of Saudi and Ethiopia, Al Amoudi made his fortune with construction business. He also boats a impressive portfolio of construction, agriculture and energy companies across countries like Sweden, Saudi Arabia and Ethiopia. Al Amoudi‘s owns Oil refiner Preem, the largest fuel company in Sweden. While in Ethiopia he has invested in various sector agriculture, cement production and gold mining. His integrated his vision of cultivation of acres of land for agriculture, vegetables, cereals and rice fields with his initiative Saudi Star Agricultural Development.
8. Roman Abramovich
Net Worth $8.9 Billion
Roman Abramovich made his fortunes through string of Oil Exchanges in the 90s. The stylish Russian billionaire owns stakes in steel organisation Evraz and Norilsk Nickel. Roman Abramovich lives his life in style as he owns the World’s second largest yatch, a 533 foot Eclipse that he purchased in 2010 for a whooping sum of $400 million. The Russian hotshot is also a proud owner of West London based football club Chelsea FC. Roman Abramovich’s major deals includes takeover of oil firm Sibneft. Apart from this, the oil tycoon sold 73 % stakes in Sibneft to Titan Gazprom for $13 billion in 2005.
7. German Khan
Net worth $9.1 Billion
German B.Khan is a Ukrainian-Russian entrepreneur and philanthropist. He co owns one of the biggest financial and investment group, the Alfa Group with Mikhail Fridman and Alexei Kuzmichev. Khan was the executive producer of TNK-BP, a joint venture in Oil business. Khan got $3.3 million, when Alfa group finalized a deal of $28 million with state oil company Rosneft. In 2003, they started a new venture LetterOne Holding S.A which handles foreign assets and foreign acquisitions.
6. Viktor Vekselberg
Net Worth $12.3 Billion
Viktor Vekselberg, a Ukrainian born oil tycoon is a true genius in his own terms. He made his first millions while selling scrap copper from worn out cables. He made several investments that continuously added to his net worth. His first investment was when he led his firm Renova’s takeover of Valdimir tractor. Later, he bought many small to medium sized industries and bauxite mine and integrated them to$1 billion worth of Sual Holding in 1996.
The group eventually became part of UC Rusal, world’s largest aluminium producer. He has been major investor in Industrial firms like Sulzer and Orelikon, Steel company Schmolz and Bickenbach and Italian giants Octo Telematics. Viktor is a avid art admirer and own art collection that includes nine Faberge eggs evaluates at $100 millions.
5. Harold Hamm and family
Net Worth $13 Billion
The magnificent American entrepreneur founded his first company Harold Hamm Tank Trucks in 1966. As of present, he has significant share listed by the name Continental Resource. In 2014, Harold Hamm paid $975 million as alimony to settle his divorce. Continental Produces approximately 200,000 barrels of oil per day. Harold Hamm is recognized for leading the development of Shale Oil resources of the Bakken Formation.
4. Vagit Alekperov
Net worth $13.8 Billion
Vagit Alekperov is an Azerbaijani and Russian businessman and president of one of the leading oil company of Russia, Lukoil. Alekperov started from the scratch working as a oil rig worker in Caspian Sea , later he was elected as the deputy minister to observe he Oil Industry in Soviet Union . He set up Lukoil, when he took three ministry controlled Oil fields. He is also the founder of Our Future, a foundation of regional social programs promoting social entrepreneurship. He is also the author of book “Oil of Russia: Past, Present and Future”. It was reported that he received $600 million in dividends in 2016.
3. Mikhail Fridman
Net Worth: $14.2 Billion
Mikhail Maratovich Fridman is a Russian Billionaire Businessmen and philanthropist. The man with dual citizenship of Russia and Israel is the co-founder of Alfa Group. Mikhail is the second richest Russian in the World. In 2013, Mikhail made $5.1 billion when the he and his partners sold stakes in TNK-BP for $14 billion. Mikhail is also a key member of supervisory board of directors of companies VimpelCom and X5 Retail group. He is co founder of Russian Jewish Congress and the Genesis Prize and the Genesis Philanthropy Group.
2. Mukesh Ambani
Net Worth -$30.1 Billion
Mukesh Ambani, Indian business tycoon is the chairman, managing director and the significant shareholder of Reliance Industries limited. Most Recently instigated n price war in telecom market, launching the 4G phone service Jio. It notched up 100 million subscribers in record time. The Reliance organisation is in legal battle with government for the recovery of costs associated on a developing Gas field. His wife, Nita Ambani, is also on Reliance Board and is a noteworthy member of International Olympic Committee.
1. David Koch
Net Worth $47.8 Billion
David Hamilton Koch is an American businessmen, philanthropist, political activist and chemical engineer. He inherited his family business Koch Industries that is the second largest privately held companies. David Koch owns majority of stakes in Koch Industries. The American native now resides in New York City and supervises Koch chemical technology group. David is a very well known philanthropist and regularly donates to Lincoln Center and Cancer Center. He is also a significant board of member of Industries like Reason foundation, Massachusetts Institute of Technology, Deerfield Academy and many more. David Koch was described as “one of the most generous but low key Philanthropists in America by the Conde Nast Portfolio.
With the ever changing trends in economical market, oil is considered as precious as gold. There is no replacement for this natural occurring liquid so extensively used. Oil and gas are one of the most important industries providing jobs to number of people and producing oil products. Oil is, at present most prominent source of Energy. Every day , it is estimated that around 90 million barrels of oil is used on the planet.