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.”