Outing the Oligarchy - International Forum on Globalization
Outing the Oligarchy - International Forum on Globalization
Outing the Oligarchy - International Forum on Globalization
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
— INDIVIDUALS OF UNDUE INFLUENCE —<br />
LEN BLAVATNIK, USA/RUSSIA<br />
$10.1 BILLION [AS OF MARCH 2011]<br />
Wealth: Len Blavatnik is <str<strong>on</strong>g>the</str<strong>on</strong>g> Russian-American owner and president of Access Industries, a diversified<br />
company with investments in oil, coal, aluminum, petrochemicals, plastics, telecommunicati<strong>on</strong>s, media, and<br />
real estate in Europe, North and South America. Blavatnik is a co-owner (with Mikhail Fridman and BP) of<br />
<str<strong>on</strong>g>the</str<strong>on</strong>g> Russian oil company TNK-BP. Blavatnik’s subsidiary, Ly<strong>on</strong>dellBasell Industries, is <str<strong>on</strong>g>the</str<strong>on</strong>g> world’s thirdlargest<br />
chemical company based <strong>on</strong> net sales. In 2007, Blavatnik purchased a $50 milli<strong>on</strong> Manhattan<br />
townhouse from billi<strong>on</strong>aire Edgar Br<strong>on</strong>fman, Jr., head of <str<strong>on</strong>g>the</str<strong>on</strong>g> Warner Music Group. In May 2011, Blavatnik’s<br />
Access Industries purchased Warner Music Group, <str<strong>on</strong>g>the</str<strong>on</strong>g> world’s third-largest music company, for $3.3 billi<strong>on</strong>. 85<br />
Power Networks: Blavatnik is a member of <str<strong>on</strong>g>the</str<strong>on</strong>g> Global Advisory Board of <str<strong>on</strong>g>the</str<strong>on</strong>g> Centre for <str<strong>on</strong>g>Internati<strong>on</strong>al</str<strong>on</strong>g><br />
Business and Management at Cambridge University, a board member of <str<strong>on</strong>g>the</str<strong>on</strong>g> Dean’s Advisors at <str<strong>on</strong>g>the</str<strong>on</strong>g> Harvard<br />
Business School and a member of <str<strong>on</strong>g>the</str<strong>on</strong>g> academic board at Tel Aviv University. A major d<strong>on</strong>or to arts, culture<br />
and <str<strong>on</strong>g>the</str<strong>on</strong>g> sciences, Blavatnik is a supporter of <str<strong>on</strong>g>the</str<strong>on</strong>g> British Museum, Tate Modern, Royal Opera House, Nati<strong>on</strong>al<br />
Portrait Gallery and Museum of Modern Art. In 2010, he announced a multi-year d<strong>on</strong>ati<strong>on</strong> of £75 milli<strong>on</strong><br />
($117 milli<strong>on</strong>) to <str<strong>on</strong>g>the</str<strong>on</strong>g> University of Oxford.<br />
Envir<strong>on</strong>ment: Residents of Mossville, Louisiana, who suffer from cancers and o<str<strong>on</strong>g>the</str<strong>on</strong>g>r health problems, have<br />
named Ly<strong>on</strong>dell and several o<str<strong>on</strong>g>the</str<strong>on</strong>g>r companies in a complaint that claims <str<strong>on</strong>g>the</str<strong>on</strong>g>ir health problems are due to<br />
extreme levels of dioxin compounds emitted by 14 local factories. 86 Access industries is not <strong>on</strong> <str<strong>on</strong>g>the</str<strong>on</strong>g> Dow<br />
J<strong>on</strong>es Sustainability Index and has no CSR Hub rating.<br />
- 29 -