Alexander Svetakov Net Worth

Alexander Svetakov has an estimated net worth of $2.6 billion, according to Forbes Real-Time Billionaires, Alexander Svetakov profile (figures as of October 20, 2026). That is up from $2.5 billion in 2019.

Alexander Svetakov is a Russian property developer and the founder and chairman of Absolut Group. He first built his business career while studying at MIEM, when he teamed up with fellow students Gleb Galin and Andrew Truskov to import electronics from Singapore and sell them wholesale. That venture became Absolute Trade House. Over time, he expanded into banking and then into a wider investment group with businesses across several sectors.

A big turning point came in 1993, when he helped found Absolute Bank. In 2007, he sold Absolut bank for $1.4 billion, a record at the time for Russia's banking sector, according to Forbes. After that, he put more of his attention on property development. Forbes says he is one of the biggest property owners in the Moscow region, with most of his land in New Moscow, and that he later focused on residential real estate.

How Alexander Svetakov makes money

Svetakov made his start in electronics. While still at MIEM, he worked with Gleb Galin and Andrew Truskov to import electronics from Asia and sell them wholesale in Russia. That early trading business grew into Absolute Trade House. He later moved into finance by helping launch Absolute Bank in 1993, adding banking to a business career that had already begun with importing and distribution.

His wealth later shifted toward property. Forbes says his investment group Absolut had holdings in areas ranging from real estate to caviar extraction. He sold the caviar business a few years later and concentrated on residential real estate. Forbes also says he is one of the biggest property owners in the Moscow region, with much of his land in New Moscow. In 2015, Absolute Group won an International Property Award for the Noble Business Centre in Limassol.

Forbes net worth and key money moments

Forbes has tracked changes in Svetakov's fortune across several years. It estimated his wealth at $2.5 billion in 2019, then $2 billion in 2020 and again in 2021. Forbes later put him at $2.2 billion in 2022 and $2.1 billion in 2023. Those estimates came after a career that had already included a major exit, when he sold Absolut bank in 2007 for $1.4 billion.

More recently, Forbes valued him at $2.5 billion in 2024, then $2.4 billion in 2025. The current figure is $2.6 billion on Forbes' real-time billionaires tracker as of October 20, 2026. His money is tied mainly to real estate, and Forbes says he has focused on residential projects after moving away from businesses such as caviar extraction. That leaves property as the clearest driver behind his standing today.