Who is the Russian oligarch behind Aughinish owner Rusal?
Oleg Deripaska is a prominent Russian businessman who founded Rusal, one of the world's largest aluminum producers. His rise to power occurred during the chaotic privatization of the Russian economy following the collapse of the Soviet Union.
Why it matters
Understanding the background of oligarchs like Deripaska provides context for the ownership structures of major industrial assets and their influence on global supply chains.
Oleg Deripaska’s name is well-known to most Russians.
One of the country’s most powerful businessmen, he began amassing his fortune in the final years of the Soviet Union.
As the planned economy crumbled and Russia stumbled into capitalism, Deripaska placed his bets on metals.
The founder of Rusal, which owns Aughinish Alumina plant in Co Limerick, Deripaska officially stood down as its leader seven years ago but remains a key figure in Russia's economic and political affairs.
Born in 1968, Deripaska grew up in Russia’s southern region of Krasnodar.
He was still in his twenties when the Soviet Union collapsed, opening up unimaginable business opportunities to earlier generations of Russians.
He founded his first firm while studying physics at Moscow State University. His Military investment-trading company focused on selling metals abroad.
During the early 1990s, he began buying shares of the Sayanogorsk Aluminium Plant in Siberia.
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