Alexander Svetakov is a businessman and philanthropist. He has tried his hand at many sectors, including electronics, finance, real estate, agriculture, insurance, coal and gold mining, and others. He provides consistent support to children with special needs and animals. He is a self-made man, seriously interested in art and surfing. This article provides an overview of the main events in Alexander Svetakov’s biography.
Path to Success
Alexander Svetakov was born in Moscow in 1968. He studied engineering at the Institute of Electronic Engineering in his native town and worked in this specialty for a while. His first jobs were entry-level and had nothing in common with his future endeavors.
In the 1990s, the business landscape in the country was actively changing after the end of the Soviet era. Together with partners, Svetakov began to import electronics from Singapore. At that time, domestic supply was hardly sufficient, while demand was impressive. Such circumstances enabled the businessman to sell the gadgets at a price that was several times higher than the purchase price. This is how he accumulated his initial wealth.
Then, again with partners, he launched the Absolut Holding Company and the Absolut Bank. The bank grew to become one of the 25 top institutions in the sector on a nationwide scale. It was among the top ten mortgage lenders in the market. In 2007, Alexander Svetakov hit the news by selling the bank to a Belgium entity. He did it right on time to avoid the consequences of the recession that broke out the following year.
After the deal, the entrepreneur focused his efforts on the Absolut Group. Its initial fields of activity included real estate and trading. Soon, it diversified into such sectors as coal and gold mining, food production, asset management, and insurance.
Svetakov’s Absolut Group purchased multiple farms located in the central region. By the beginning of the 21st century, it became one of the largest landowners there. The agricultural arm of the group has been engaged in farming, dairy production, and processing grain. Later on, the Group used the plots of land that it owned to build commercial real estate projects and premium residential complexes.
Passion for Art and Sport
Passion for art occupies a central part in Alexander Svetakov’s biography. His favorite direction is avant-garde. His personal collection consists of works by 20th-century painters. He founded the V-A-C Foundation in Moscow, which aims to integrate the country’s contemporary art into an international context.
In 2001, the French government awarded Alexander Svetakov with the Order of Arts and Letters, a prestigious award given to those who have made significant contributions to the promotion of the arts in France and globally.
Svetakov is an avid surfer. He has admired this sport for many years, however, he only learned to stand on a board when he turned 40. One day, he received a golden surfing board as a gift from a Canadian manufacturer, Bombardier. He proudly displayed it in his office. His favorite places to catch waves are Indonesia and Mauritius.
Approach to Philanthropy
As a billionaire, Alexander Svetakov adheres to the principles of effective altruism, as formulated by Australian moral philosopher Peter Singer. Singer believes that everyone should aim to help others, irrespective of their own social standing or opportunities. Support should be based on factual information, evidence, and sound reasoning.
When Alexander Svetakov became a successful businessman in the 1990s, he was approached by many individuals and organizations seeking his assistance. It was difficult to distinguish between scammers and those who genuinely needed help. The entrepreneur realized that it would be more efficient to provide systematic assistance rather than making one-time money transfers to charities. He prefers to focus on helping children with special needs who are facing challenging life situations. He has been supporting schools and boarding schools for such children until now. In addition, he contributes to the well-being of animals by building a complex that includes a shelter, pet hotel, and veterinary clinic.
Alexander Svetakov recognizes that the charitable sector in his country is still relatively young, having been in its current form for only about three decades. This is why he believes it may be beneficial to draw on the experience of countries that have been more successful in this area. For instance, charity organizations could learn how to generate revenue from merchandise and paid services for those who are able to afford them. The ultimate aim is to ensure that every cent donated goes towards the most efficient use possible.
