Uzbek tycoon Alisher Usmanov as soon as quipped to a Western journalist that his life story would require greater than a few vodka bottles to inform in full. A fast take a look at his biography, one which begins along with his humble origins in Chust, a medium-sized metropolis in Uzbekistan’s Fergana Valley, to being ranked among the many 100 wealthiest folks on the earth.
Usmanov is exclusive amongst these from the previous Soviet Union who made their fortunes within the wild Nineties following the collapse of the Communist command economic system in that he gathered his wealth by means of open market offers or by launching new companies; a stark distinction to those that amassed huge sums of wealth, usually illicitly, by means of doubtful privatization schemes.
Having the best enterprise instinct to acknowledge the altering world round him because the Soviet system was on life assist, Usmanov turned rich after establishing a plastic bag firm – a commodity that was in excessive demand in the course of the late Gorbachev period. From these early investments, Usmanov was later moved to investing in worldwide markets and particularly in metallurgy enterprise.
Within the early 2000s, Usmanov purchased up mines and metal crops, and thru these acquisitions constructed up the Metalloinvest group remodeling it right into a metallurgical main, which provides half of the world’s scorching briquetted iron (HBI), a low-carbon materials for the metal business. It’s nonetheless a core a part of Usmanov’s enterprise empire. He additionally invested in a big copper deposit, which is predicted to be launched subsequent yr amid hovering demand for the low-carbon economic system metals.
Regardless of the reservations of many different buyers on the time, Usmanov’s curiosity within the tech world led his profitable investments in Apple and most of the world’s tech unicorns: Alibaba, JD.com, Twitter, Spotify and Uber. He additionally invested $460 million instantly into Fb and acquired stakes within the Russian telecom firm MegaFon, the web holding Mail.ru Group, and the Russian-speaking world’s Fb analogue, VKontakte.
From enterprise to philanthropy and charity
Internationally recognised for his ground-breaking investments in Fb and Alibaba, his longtime shareholding within the Arsenal soccer membership and his many charitable actions, together with the restoration of cultural monuments round Europe, notably in Italy, a rustic with a historical past and tradition that has lengthy been expensive to Usmanov. A lot in order that Usmanov supplied €1.5 million in monetary help to the authorities of Rome for the restoration of the aisle of the Basilica Ulpia and the Colonnade of Trajan’s Discussion board, in addition to the Dioscuri Fountain on Quirinale Sq.. He additionally donated greater than €6 million for the restoration of the Villa Berg, which has been housing the Italian Embassy in Moscow since 1924.
Usmanov’s quite a few tasks geared toward forging nearer ties with Italy have prolonged far past historic preservation and have included taking up the standard position of an arts patron within the fields of cinema, structure, theater and music – all of which have amounted to hundreds of thousands of euros.
Additional donations have prolonged to different European nations together with Germany, France, Switzerland, Austria, Greece, Monaco and Cyprus; operating the gamut from sponsoring COVID help, and different medical and pharmaceutical enchancment tasks, to sponsoring main sporting establishments. (Usmanov is an avid fencer and has served because the president of the Fédération Internationale d’Escrime, the worldwide governing physique of the game of fencing, for 14 years since 2008. In March 2022, he suspended his duties till the worldwide sanctioned in opposition to him are lifted.
Returning to his roots
In his native Uzbekistan, Usmanov has whole-heartedly backed President Shavkat Mirziyoyev, who’s transferring quickly to re-make and open his nation to the world after the Central Asian nation struggled for 1 / 4 century underneath Mirziyoyev’s predecessor, Islam Karimov, who largely saved the nation remoted from the worldwide group and who stubbornly clung to outmoded Soviet-style financial insurance policies.
Usmanov has previously stated that he’s keen to speculate as a lot as he can in Uzbekistan. And he has achieved simply that. Usmanov’s charitable work within the nation has already amounted to a whole bunch of hundreds of thousands of {dollars} by means of the financing of a variety of key social and modernization tasks, with a World Financial institution-supported housing growth program in numerous Uzbek areas alone receiving $245 million from him.
Very similar to his actions within the West, Usmanov has supported the cultural and historic preservation of Uzbekistan’s dozens of heritage websites, together with the event of the traditional Silk Highway metropolis Bukhara and its surrounding area, dwelling to a variety of UNESCO World Heritage websites.
Usmanov has repeatedly emphasised that every one his investments in Uzbekistan are aimed, in the beginning, on the financing of the nation’s growth. In layman’s phrases, every thing earned in Uzbekistan will stay within the nation and will likely be directed towards the social and financial growth of the nation.
In step with this coverage, Usmanov and his companions supported the development and launch of a metallurgical plant within the Uzbek capital Tashkent, the nation’s main metallurgical enterprise, through which a subsidiary of USM holding now owns a major share. USM, the worldwide conglomerate with investments within the metals and mining business, telecommunications, expertise, and media – the place Usmanov owns a 49% share – created a three way partnership with companions in Uzbekistan that included the main Uzbek telecommunications firm Ucell. Earlier this yr, Akkerman Cement, a subsidiary of USM, acquired a 98.6% stake in a big cement plant in Uzbekistan to assist additional foster the nation’s financial development.
Utilizing his robust private ties to Italy, Germany and different EU nations, Usmanov helped European firms, together with Italy’s Danieli and Germany’s Knauf, enter the Uzbek market and promised to proceed to advertise and defend European enterprise funding in Central Asia. In flip, representatives of Italian enterprises and the commune of the town of Ardzachena in Sardinia, the place Usmanov is an honorary citizen, in addition to representatives of the German enterprise group, have already expressed their assist for Usmanov.
That is removed from an entire checklist of those that are able to again up this philanthropist and patron of sports activities within the present scenario: a month earlier it turned recognized that greater than 100 member nations of the most important fencing confederations of the world turned to IOC President Thomas Bach with a request to facilitate the lifting of sanctions in opposition to Usmanov.
Usmanov is able to contribute additional to this enterprise relationship within the context of the European Union – Central Asia sustainable connectivity prospects consistent with the EU’s World Gateway.
The overwhelming majority of Usmanov’s actions are largely unknown to most of the people, together with those that are shut watchers of the post-Soviet area, largely as a result of his private aversion to self-promotion. The very fact stays, nevertheless, that he has already given away $6.4 billion within the final twenty years, together with through his charity foundations and corporations.
Publish-February 24
Regardless of Usmanov’s many proactive actions within the West and in Uzbekistan, he was included on the European Union and US’ checklist of sanctioned billionaires following Russia’s invasion of Ukraine, regardless of by no means having any recognized connection to the Russian authorities’ choices and actions in Ukraine.
The European Union has not given any particulars as to why Usmanov was included on the in depth checklist of people and enterprise entities, however a abstract assessment of his actions geared toward nearer relations with the West raises questions as to the rationale behind his inclusion on the checklist.
In an unique interview with New Europe’s Federico Grandesso, Usmanov mentioned his present scenario, in addition to his previous and future endeavors in Europe and Uzbekistan.
New Europe (NE): You and your sisters have been sanctioned by the EU due to your alleged relations with the Russian authorities. For the file, and for European politicians to know, have you ever ever had any hyperlinks with Moscow?
Alisher Usmanov (AU): I’m previously an enormous businessman, and in recent times I’ve been deeply engaged within the growth of fencing and in philanthropy. I treasure notably humanitarian values and initiatives that carry folks collectively: sports activities, artwork, and even enterprise. In different phrases, I’m as far distanced from politics as attainable and have in reality intentionally been avoiding all of it my life. So, the EU’s accusations in opposition to me and my sisters are utterly groundless on all counts and, specifically, with regard to my connections with the Kremlin. After all, as a businessman and because the FIE President, I’ve over time met main figures from many alternative nations, together with heads of states and the heads of varied worldwide sports activities organizations. Furthermore, I’ve obtained a variety of excessive awards from Uzbekistan, Italy, Kazakhstan, Russia, and the Worldwide Olympic Committee. My conferences with these officers have been normally public and have been coated by the media. All different accusations claiming that I’m allegedly a “pro-Kremlin oligarch”, or that I’ve some kind of monetary connections with the Russian management are nothing however baseless fantasies.
NE: Your previous actions in Europe, and the achievements that adopted, have been fairly outstanding over time. How are you going to assist the EU additional cooperate with Uzbekistan and help each in deepening their relationship?
AU: Though I’m an Asian by start and upbringing, European tradition is deeply ingrained in me. All my life I’ve been carefully linked to Europe. Once I was nonetheless an entrepreneur, I acquired numerous enterprise companions and made actual mates right here. Actually, I owe the success of my first enterprise within the Eighties to a German businessman who helped me with recommendation and provided me with the most effective tools out there on the earth at the moment for the manufacture of plastic luggage. That was how I acquired began in enterprise. However subsequently, my profession was additionally related with European enterprise companions. And it was these connections and the belief of those those who helped me later once I left the enterprise world and targeted as a substitute on social and charitable work. I responded with nice pleasure and with out hesitation to requests from European nations and establishments and supported numerous charitable initiatives. Probably the most well-known of them are restoration tasks in Italy, however, after all, there have been many extra, which in reality cowl all the European continent. Right this moment, as a result of sanctions, a variety of restrictions have been positioned on this work, however I intend to proceed with my philanthropy in Europe as quickly as I’m in a position as soon as once more.
For the final 14 years, I’ve been heading up the FIE, and it’s for me personally one of the necessary humanitarian tasks of my life. Sport is a very highly effective technique of bringing nations nearer collectively, defusing conflicts and creating common alternatives for everybody no matter the place they arrive from on the earth and what state of heath they’ve. That is what fencing is about, and I’m proud that my staff and I’ve managed to make our achievements really international. After all, this additionally applies to European fencing, to the success of which I’ve additionally contributed as head of the European Fencing Confederation for 4 years, from 2005 to 2009.
I want to share my very own expertise and experience that I’ve gathered all through my life and to make use of that data to strengthen humanitarian and enterprise ties between Uzbekistan and the EU members. I see this as my mission.
NE: What’s your relationship with the EU establishments? Have you ever been to Brussels or Strasbourg to debate potential tasks or methods to deepen the collaboration between Uzbekistan and the European Union with any EU officers?
AU: I’m an ardent supporter of increasing cooperation between Uzbekistan and the EU member states. Six years in the past, after Shavkat Mirziyoyev turned president, the nation started to vary quickly. Right this moment, Uzbekistan is a dynamically growing democratic republic that’s open to funding and has monumental potential. In lots of respects, the nation is concentrated on growing cooperation with Europe and is on the lookout for fashions that may very well be utilized right here. Reforms are being efficiently carried out right here in lots of areas, and strengthening the funding local weather is a key precedence. Particular establishments have been created to supply info and authorized assist to international entrepreneurs, and lots of obstacles to international buyers have been eliminated.
I actually have made and proceed to make a substantial effort to speak with our European companions, telling them about this and alluring them to spend money on the republic and construct a dialogue with it. That is one in all my high priorities. And this work has concrete outcomes. European firms, together with German, Austrian and Italian ones, are already working in Uzbekistan. Bilateral and multilateral cooperation with EU member states is being developed, with common public and enterprise occasions like annual “EU – Central Asian” ministerial conferences, the “Italy – Central Asia” convention, a dialogue with German companies and lots of others. This ends in European companions taking a recent take a look at Uzbekistan. Additional occasions will, I’m certain, utterly change attitudes to investing in Uzbekistan. I need to admit that I’m more than happy to comprehend that my modest contribution has helped enhance the connection between Uzbekistan and the EU.
I’ve been publicly urging everybody to speculate on this nation. And the businesses of which I’m a shareholder, are actively investing in Uzbekistan’s metallurgy, cement manufacturing and telecommunications industries. As for myself, I firmly determined that any cash earned on this nation will likely be invested in Uzbekistan. And I additionally intend to assist any undertakings which are consistent with Uzbekistan’s growth technique and geared toward strengthening its relations with the EU. After all, sanctions on me make it tough to develop this assist.
NE: What are your ideas about your case on the European Courtroom of Justice? Are you constructive concerning the final result? Within the case of a damaging final result, would you take into account an enchantment?
AU: I’ve already skilled injustice in my life, so I really feel it keenly. The collective accountability that I really feel has been prolonged to me and my subsequent of kin — that’s an injustice and an enormous mistake.
Not one of the accusations in opposition to me and my sisters, apparently justifying the EU sanctions in opposition to me, are true. In our lawsuits, now we have supplied ample proof to that impact.
For instance, my sisters are being accused of allegedly receiving improper advantages from me. They’ve their very own households, their very own youngsters, who at the moment are being punished together with them just because they’re my family. In the meantime, for 25 years, all my incomes and property have been audited yearly by the Massive 4 companies, their transparency has been confirmed by audit stories, and all these stories have been disclosed.
I additionally strongly consider within the European Establishments. I’m assured that and European politicians and officers would be capable to rethink the sanctions utilized and that I’m solely accountable for having been a profitable entrepreneur in tough occasions and areas. I’ve been obliged to defend myself earlier than the European Courtroom of Justice and with all of the respect I do know that they are going to be honest and unengaged on this scenario. I’m assured that there will likely be quickly room to rethink the unjustified determination taken in opposition to me and my sisters. I additionally consider the European Courtroom of Justice will likely be honest and unengaged on this scenario and I’ll battle till I win.
It’s my responsibility as a result of the sanctions don’t largely have an effect on me personally, however slightly my family, workers of the enterprises the place I’m a shareholder, folks depending on my charitable exercise, and my fellow residents from Uzbekistan. Hundreds of harmless persons are being affected by these measures. I’ve been spending almost half my revenue on charity — so ought to the recipients of this charitable assist be sanctioned as properly?
NE: When you have been capable of converse on to the residents of Europe about your actions in each the EU and Uzbekistan, what could be your predominant message to them? One that you’d need them to relay to the politicians that they’ve democratically elected to make choices on points like worldwide sanctions?
AU: I’m satisfied that the energy of human civilization lies in its capacity to create collectively. This shouldn’t be forgotten, even at tough occasions comparable to at present. We’re nearer to one another than we predict, and never every thing might be sacrificed for the sake of the political second. It’s essential to hold a cool thoughts and never alienate true mates. As for me personally, I’m a person of peace who has devoted his complete life to bringing folks collectively. Under no circumstances am I an enemy of Europe. Quite the opposite, I’m desperate to proceed constructing bridges between European nations, Uzbekistan and Central Asia. And I’ll actually proceed to take action as I see an awesome future on this.
