Forbes: Kirill Shamalov became Russia's youngest billionaire

A member of the board of directors of Sibur, 34-year-old Kirill Shamalov, became the youngest billionaire in Russia, according to Forbes’ list of richest businessmen published in the new issue of the magazine.

Shamalov was ranked 64th on the list, with a wealth of $1.2 billion, in the 13th edition of the 200 richest businessmen in Russia made by Forbes. This is the first year he is among the billionaires, having taken 1476th place in a world rating of billionaires in 2016.

Kirill Shamalov is the younger son of an old acquaintance of the President of Russia Vladimir Putin, the co-owner of the bank "Russia", Nikolay Shamalov. Nikolay Shamalov was included on the list of the 200 richest businessmen in Russia, according to Forbes in 2011, with a fortune of $0.5 billion.

In December 2015, the Reuters were told about the wedding of Kirill Shamalov and Katerina Tikhonova, whom sources of Bloomberg and Reuters say is the daughter of President Putin.

Kirill Shamalov was born in Leningrad. In 2004, he graduated from St. Petersburg State University. After graduating, he worked at Gazprom, Rosoboronexport, Gazprombank and in governmental apparat. In 2008, he came to Sibur, having taken a posting as the vice-president of the petrochemical holding.

In September 2014, Kirill Shamalov acquired 17% of Sibur from another old acquaintance of Putin – Gennady Timchenko, also a billionaire. Now Kirill Shamalov possesses 21.3% of the holding. He is a co-owner of Sibur, next to Leonid Mikhelson.

In December 2015, the Chinese state company Sinopec bought 10% of Sibur for $1.339 billion. The assessment of the petrochemical giant, according to this transaction, allows us to consider Kirill Shamalov a one dollar billionaire.