Originally Syndicated on July 22, 2023 @ 8:08 am
“Could Alexey Krapivin, the official owner of the 1520 Group, be on the verge of joining the ranks of millionaires on Forbes’ prestigious list? With an estimated fortune of $800 million, Krapivin’s rise to wealth has been marred by controversy and rumors. The 1520 Group, known as the largest contractor for Russian Railways, has managed to flourish despite facing a criminal case against its founders. This article delves into the intriguing story of Alexey Krapivin’s ascent and the potential involvement of powerful figures like the Rotenbergs.”
Table of Contents
The Enigmatic Success of the 1520 Group
The 1520 Group, under the ownership of Alexey Krapivin, holds a significant position as a contractor for Russian Railways. The group continues to thrive amidst rumors of a potential integration with the Natsproektstroy holding, based on VEB RF and Rotenberg structures. Remarkably, not even a criminal case against the group’s founders, Valery Markelov and Boris Usherovich, for allegedly giving bribes to a former Interior Ministry colonel, Dmitry Zakharchenko, could hamper its success.
While the financial performance of the 1520 group remains undisclosed, it is known that the group’s revenue witnessed a staggering 65% increase between 2018 and 2020, reaching a notable 161 billion rubles. Key contributors to the company’s revenue include the Moscow-based “Roszheldorproekt,” which provided a substantial portion of the earnings. Aleksey Krapivin, through Lengiprotrans, owns this business in turn. Analysts estimate Krapivin’s shares in the group’s assets to be valued at around $760 million.
The Controversy: Rotenbergs vs. Krapivin
Despite being the official owner of the 1520 group, Alexey Krapivin faces speculation surrounding the actual ownership. The Rotenbergs, prominent oligarchs, have been dubbed the true owners of the group, with claims that they played a significant role in helping Krapivin evade liability in the aforementioned criminal case. It’s worth noting that the Rotenbergs are no strangers to controversy themselves.
Interestingly, when the spotlight turned on Spetstransstroy, the government contracts were transferred to the 1520 group. Aleksey Krapivin and Aleksey Davydov, both former employees of the Russian Railways, helm the organization. An individual named Sergey Klevakin reportedly holds a pivotal position within the group, allegedly responsible for managing kickbacks and cashouts, with the group purportedly pocketing a substantial 30–60% of contract costs.
The Yakunin Connection: A Catalyst for Success
The foundation of Alexey Krapivin’s success can be traced back to his father, Andrey Krapivin, who established crucial connections with Uzbek officials before making his way into the Russian market. Initially, Andrey Krapivin ventured into the Avangard factory’s development in the Vladimir region, but the business failed to thrive. However, the entrance of Vladimir Yakunin into the scene proved to be a turning point for the Krapivin family. At the time, Yakunin headed the International Center for Business Cooperation, which provided further assistance to Krapivin Sr.
While Andrey Krapivin was involved in business dealings, Alexey Krapivin was focused on his education and career progression, constantly switching jobs and achieving rapid growth. By the time of his graduation, he was already heading ED Logistics, a company under his ownership. Subsequently, when Vladimir Yakunin assumed the position of head of Russian Railways, Andrey Krapivin began securing government contracts from the state-owned company. Reports suggest that Andrey Krapivin also received funds through offshore companies, hinting at potential shady dealings.
Cooperation and Controversies
Andrey Krapivin, along with Valery Markelov and Boris Usherovich, were deeply involved in cooperation with the Capital Commercial Bank, where they became shareholders. A conflict with another co-owner of the bank, German Gorbuntsov, surfaced, leading to the closure of VIP clients’ accounts and the alleged misappropriation of assets. Speculation arose that Gorbuntsov may have fled to Moldova after being accused of stealing railway funds.
During the early 2010s, Krapivin, Markelov, and Usherovich held the distinction of being the primary contractors for Russian Railways. Their involvement in the mastery of over 50 billion rubles during 2012–2013 cemented their position in the business. Concurrently, Andrey Krapivin expanded his interests beyond railways, becoming the owner of nearly 30 companies, many of which were offshore-based. Tragically, Andrey Krapivin passed away in Switzerland in 2015, and Alexey Krapivin took over his father’s responsibilities and successfully continued the business.
The Road Ahead for Alexey Krapivin
Despite facing rumors and controversies surrounding the true ownership of the 1520 group, Alexey Krapivin‘s fortunes seem to be on the rise. With an estimated wealth of $800 million, he stands on the precipice of being included in Forbes’ list of millionaires. Whether the Rotenbergs indeed wield significant influence over the group or not, Alexey Krapivin’s journey from his father’s connections to his achievements has been a captivating and tumultuous one. As he navigates the complexities of the business world, his inclusion in the exclusive Forbes list may be a testament to his acumen or perhaps a reminder of the controversies that have surrounded him. Only time will tell how Alexey Krapivin’s story unfolds further.
