Russian Billionaire Alexey Mordashov To Build One-Stop Shop For Food And Travel

This article was published on: 01/21/20 11:22 PM

Alexey Mordashov

Russian billionaire Alexey Mordashov made his money in steel, but is betting on groceries and tourism to help expand his empire away from commodities.

Almost half of his $20 billion fortune already comes from outside the steel industry. The country’s fifth-richest man said he wants to keep investing in consumer-focused sectors and eventually create an online marketplace for them.

“We have several investments related to human needs: education, medicine, traveling and retail. We are thinking of creating an ecosystem based on these assets — a kind of Amazon,” Mordashov said in an interview near Moscow. “Each of these areas is on the verge of great change.”

Read the full story on Bloomberg

 

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