What is Dmitry Pumpyansky's Net Worth?
Dmitry Pumpyansky is a Russian businessman who has a net worth of $1.6 billion. Despite generating most of his wealth from manufacturing pipes, Pumpyansky has managed to move well beyond the pipes production business. Born on March 22, 1964 in Ulan Ude Russia, he took his Bachelor's degree in metallurgy from the Ural State Technical University. Upon graduation, he started to work as a trader and then supervised several metal plants in the Urals throughout the 1990s. Next, Pumpyansky took over control of the Sinarsky Pipe Factory before joining the pipe business of billionaires Sergei Popov and Andrei as he acquired 35% of their TMK conglomerate, Russia's largest pipe exporter.
In late 2006, Pumpyansky bought out the parts of Melnichenko and Popov, acquiring full ownership of TMK, which he listed on the London Stock Exchange and raised $1 billion. Later on, he was forced to surrender his controlling share to state-owned banks as security for a $1.85 billion loan, but Pumpyansky successfully re-gained the control of TMK two years later. Apart from TMK, he now co-owns Sinara Group along with German industrial giant Siemens. Last year, he led the supervisory board of Rosselkhozbank, an agricultural lender and the fourth-largest bank in Russia, and today, Pumpyansky serves as the Chairman of the Board of Sinara Group and TMK. Through some of his companies, he also assists the facelift to a stadium that will host the 2018 World Cup in Ekaterinburg.
