Leonid Mikhelson Net Worth

Leonid Mikhelson has an estimated net worth of $28.3 billion, according to Forbes Real-Time Billionaires, Leonid Mikhelson profile (figures as of October 20, 2026). That is up from $24 billion in 2019.

Leonid Mikhelson is a Russian business leader in energy. He founded and chairs natural gas producer Novatek. He began his career as a foreman on a gas pipeline project in Russia's Tyumen region, then moved through engineering and management jobs at pipeline construction companies. After the Soviet Union collapsed, he took a stake in a privatized pipeline business and built Novatek out of it. That company became the base of his wealth in gas and chemicals.

His fortune also grew through petrochemicals. In 2017, he bought a 17% stake in Sibur from Kirill Shamalov, raising his holding to 48%. He later reduced that position and now holds just over 30%. In 2021, Sibur merged with TAIF Group, adding major assets in Tatarstan. Outside business, Mikhelson has backed art projects through a fund named after his daughter and spent more than $470 million to turn GES-2 into an art space that opened in late 2021.

How Leonid Mikhelson built his fortune

Mikhelson made his money in gas and chemicals. His main asset is Novatek, the natural gas company he founded and chairs. His path started in pipeline construction, where he worked first as a foreman and later in senior engineering and director roles. When privatization opened new doors after the Soviet Union ended, he gained a stake in a pipeline construction company. That business later became Novatek, which turned him into one of Russia's richest energy executives.

Sibur became the other big pillar of his wealth. In 2017, he bought an extra 17% of the petrochemical company, which pushed his stake to 48%. He now owns just over 30%. Forbes says his wealth comes from gas and chemicals, and Sibur fits that picture. The company expanded further in 2021 through its merger with TAIF Group. Mikhelson also put money into culture, including GES-2, a Moscow art space created from a former power plant.

What Forbes says about his net worth

Forbes has tracked sharp moves in Mikhelson's fortune over the past few years. It estimated his wealth at $14 billion in 2022, then $21.6 billion in 2023. By 2024, Forbes put him at $27.4 billion, ahead of his 2021 level. In 2025, the estimate rose to $28.4 billion. Those swings came during years when Sibur completed its merger with TAIF and Novatek remained central to his holdings in the energy business.

The latest Forbes figure is $28.3 billion on its real-time billionaires tracker as of October 20, 2026. Forbes also put him at $28.3 billion on the 2026 World's Billionaires List. That was slightly below the 2025 estimate. Forbes continued to tie his fortune to Novatek and Sibur. Its notes also point to stake changes over time at Sibur, including his reduction in 2021 and the company's earlier merger with TAIF.