Leonid Fedun Net Worth

Leonid Fedun has an estimated net worth of $10.3 billion, according to Forbes Real-Time Billionaires, Leonid Fedun profile (figures as of October 20, 2026). That is up from $8.7 billion in 2019.

Leonid Fedun is a Russian businessman known for co-founding Lukoil and serving as its vice president until 2022. Before business, he was a military officer and later taught sociology at the Dzerzhinsky Military Academy from 1984 to 1992. His path changed after a 1987 visit to Kogalym, where he met Vagit Alekperov. That connection led him into the oil industry and set up the career that made him one of Russia’s richest self-made figures.

In the early 1990s, Fedun moved into oil and finance as Alekperov built what became Lukoil in 1993. Fedun helped with the privatization of the company in the 1990s and later held a nearly 10% stake. He also founded Neftkonsult and Lukoil Reserve Invest, which later became IFD Kapital Group. Outside oil, he became a major figure at Spartak Moscow in 2004 and backed the club’s stadium project, which later hosted World Cup matches in 2018.

How Leonid Fedun made his money

Fedun’s fortune came mainly from oil. After teaching in Kogalym in the late 80's, he teamed up with Vagit Alekperov and moved into the business side of the energy sector. In 1992, he founded Neftkonsult and Lukoil Reserve Invest. When Lukoil was formed in 1993 from major Russian oil assets, Fedun became part of its rise and later served as vice president from 1995 until retiring in 2022.

His biggest financial asset was his nearly 10% stake in Lukoil. That ownership tied his wealth closely to the company’s value over time. Fedun also built a presence outside the oil business through IFD Kapital Group and through sports. In 2004, he became the second-largest shareholder and president of FC Spartak Moscow. He also invested in the club’s arena, which hosted some World Cup matches in 2018 before he sold his stake to Lukoil in 2022.

Forbes net worth and money milestones

Forbes estimated Fedun’s wealth at $10.3 billion on its real-time billionaires tracker as of October 20, 2026. Across recent years, that estimate moved sharply. Forbes put him at $8.7 billion in 2019, $6.3 billion in 2020, and $11.1 billion in 2021. It then dropped to $5 billion in 2022, rose to $8 billion in 2023, and climbed again to $10.5 billion in 2024 before easing slightly after that.

Those swings fit the way his money was built. Most of it came from oil through Lukoil, so changes in the value of that holding had a big effect on the Forbes estimate. A key business turning point came in 2022, when both Fedun and Alekperov resigned their positions at Lukoil. That same year, Fedun also sold his Spartak stake to Lukoil, ending a long run as one of the club’s leading figures.