Alexey Kuzmichev Net Worth

Alexey Kuzmichev has an estimated net worth of $8.5 billion, according to Forbes Real-Time Billionaires, Alexey Kuzmichev profile (figures as of October 20, 2026). That is up from $7.5 billion in 2019.

Alexey Kuzmichev is a Russian businessman known for helping build Alfa Group and later LetterOne. He studied at the Moscow Institute of Steel and Alloys with Mikhail Fridman and German Khan, who became his business partners. In 1988, they founded Alfa Photo, an import business for photo chemicals. Later, he pushed the group toward exports. In 1998, they launched Alfa Eco, a step that helped form the wider Alfa Group business.

His wealth comes from stakes in major businesses tied to oil, banking, telecom, and retail. He was a stakeholder in VimpelCom, Alfa-Bank, and X5 Retail Group, and he oversaw Alfa Group's international trading operations. He also helped found LetterOne, an international investment business focused on telecoms, technology, and energy. A major payday came in 2013, when he and his partners sold their 25% stake in TNK-BP for $14 billion.

How Alexey Kuzmichev built his fortune

Kuzmichev built his fortune by helping create and expand a group of businesses across several industries. The main engines were Alfa Group and LetterOne. Alfa Group held interests in banking, telecom, retail, insurance, and trading. Kuzmichev was also tied to VimpelCom, Alfa-Bank, and X5 Retail Group. Forbes places him in the Energy industry, while also connecting his wealth to oil, banking, and telecom.

One of the biggest money events in his career came from TNK-BP. In 2013, he and his partners sold their 25% stake in the joint venture for $14 billion. The same year, Wikipedia notes that he sold his stake in the energy venture TNK-BP to Rosneft for $2.5 billion. He was also part of LetterOne from the start, giving him another platform for investments in telecoms, technology, and energy.

Forbes net worth and key money moves

Forbes has tracked Kuzmichev's fortune through several annual lists. It put him at $7.5 billion in 2019, $6.5 billion in 2020, and $7.8 billion in 2021. The estimate then moved to $6 billion in 2022, followed by $6.4 billion in 2023 and $6.6 billion in 2024. Those changes show how his Forbes estimate has moved up and down over time rather than following a straight line.

The latest Forbes figure is $8.5 billion on its real-time billionaires tracker as of October 20, 2026. That is above Forbes' 2025 estimate of $7.5 billion and its 2026 World's Billionaires List figure of $8.3 billion. His business history helps explain why Forbes connects his wealth to several sectors at once, especially energy, banking, and telecom, instead of to a single company.