Yelena Baturina

Yelena Nikolayevna Baturina (Еле́на Никола́евна Бату́рина) (born March 8, 1963) is a Russian businesswoman, Russia's richest woman [ [http://www.youtube.com/watch?v=aCMFVIYjs7U YouTube - Russia's richest woman denies buying 90-room London mansion ] ] and its only female dollar billionaire. She is the joint 279th richest person in the world. [http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires_Rank_12.html The World's Billionaires - Forbes.com ] ] Her husband, Yuriy Luzhkov, has been mayor of Moscow since 1992.

Early life

Baturina is a Moscow native who began working at the Fraser plant (where her parents worked) after graduating from high school. She soon left for the Institute of Economical Problems of All-Around Development of the National Economy. She later got a degree, graduating from the Management Institute. Baturina met her future husband, Yuriy Luzhkov, in 1987 when they were both serving on the Mosgorispolkom, a Soviet-era municipal commission. [http://www.forbes.com/lists/2006/10/GXNS.html Elena Baturina, The World's Richest People - Forbes.com ] ] They married in 1991.

Career

In 1991 Baturina founded her company, Inteco ("Inteko" in Russian), which focuses on construction though it began as a plastics business. After Luzhkov became the mayor of Moscow in 1992, Inteco grew quickly, and he was accused of corruption because her company was getting municipal contracts. Inteco was controversially awarded the contract to produce 85,000 seats for Luzhniki Stadium, Moscow's largest stadium, in 1995. [ [http://www.timesonline.co.uk/tol/news/world/article430274.ece Moscow turns on the mayor’s wife in a billion - Times Online ] ] At one point Inteco was said to control 20% of construction in the capital. It is now being restructured away from building projects. [ [http://www.timesonline.co.uk/tol/news/world/europe/article1963955.ece Hardliner with an iron grip on Moscow sets sights on a fifth term - Times Online ] ] In 2005 Inteco sold its cement works and DSK-3, a producer of prefabricated buildings, for $1.1 billion. Baturina then bought shares in Gazprom and Sberbank.

According to Forbes magazine, Baturina's net worth as of 2007 is $3,100,000,000, up from $2.3 billion in 2006 and $1.1 billion in 2004 [http://www.forbes.com/finance/lists/75/2004/LIR.jhtml?passListId=75&passYear=2004&passListType=Person&uniqueId=GXNS&datatype=Person Forbes.com: Russia's 100 Richest 2004 ] ] .

Baturina has a diverse portfolio. She owns hotels in the Black Sea tourist resort of Sochi, over 72,000 hectares of agricultural land in the Belgorod region, and also a factory that produces a million cans of sweetened condensed milk each year.

In 2007 Viktor Baturin, Yelena's brother, with whom she founded Inteco, sued Inteco for $120 million due to wrongful dismissal. [ [http://business.timesonline.co.uk/tol/business/markets/europe/article1295112.ece Tycoon sues billionaire little sister for £120m - Times Online ] ]

Intimidation of Inteko

On October 9 2005 executive director of Inteko-agro Alexander Annenkov was attacked in Belgorod by three assailants armed with axes. He survived. [http://www.washingtonpost.com/wp-dyn/content/article/2006/01/15/AR2006011501020.html?nav=rss_world Washington Post article] ] At the time Baturina had been having business problems in Belgorod, with her attempts to modernise farmland there being opposed by local governor Yevgeny Savchenko.

On October 13 2005, Inteco lawyer Dmitry Steinberg was shot at the entrance to his house. Baturina attended his funeral. [ [http://kommersant.ru/photo/archive/search.asp?L=2&dt=1&ex=y〈=2&lib=1&pg=10&ps=25&searchbtn=search&text=elena Kommersant photo archive] ]

Personal life

Baturina is an equestrian enthusiast and the president of the Equestrian Federation of Russia. She has two daughters with Luzhkov, Elena (born 1992) and Olga (born March 1994).

References

ee also

List of female billionaires

External links

* [http://www.zaointeco.ru/ Inteco's official website (in Russian only at the moment)]
* [http://www.forbes.com/finance/lists/75/2004/LIR.jhtml?passListId=75&passYear=2004&passListType=Person&uniqueId=GXNS&datatype=Person Forbes profile]
* [http://www.timesonline.co.uk/tol/news/world/article430274.ece Times article on corruption allegations]