Nikolai Maximov Net Worth

What is Nikolai Maximov's Net Worth?

Nikolai Maximov is a Russian entrepreneur who has a net worth of $1.2 billion. The founder of Maxi Group, Nikolai Maximov sold his stake in the group to steel tycoon and majority shareholder of the NLMK group, Vladimir Lisin, in 2007. After the first installment of $300 million was paid in January 2008, NLMK accused Maxi's former top managers for stripping funds from the group and the second payment got locked in the dispute. While Maximov constantly demanded more money for his shares, he got detained in Moscow in 2011 on charges of abuse of power, after which he posted bail of $1.8 million. To date, the case is not resolved as it only drags on.

A graduate of the Sverdlovsk Mining Institute, Maximov started his career in the timber and furniture business founding a company in 1991. Some three years later, he went on trading scrap iron as he invested the profits in shares of small metallurgy works in the Urals. It was in 2004 that he set up Metallurgy Holding, which later he renamed it Maxi Group. He accumulated the bulk of his net worth during the global recession when he was buying stocks at a low price and then selling them for nearly five times as much.