Alexander Svetakov is a businessman with impressive achievements in the banking and real estate sectors. He started earning by importing electronics from Asia to his homeland. Now, he is predominantly focused on charity projects. In this article, we will share the milestones of Alexander Svetakov’s biography and mention his most prominent projects.
Education and Early Success in Business
Alexander Svetakov was born in 1968, in Moscow. He studied engineering at the Institute of Electronic Machine Building. When he was a student, entrepreneurs began to import gadgets from Asia. The demand was huge and the local supply hardly existed at the moment. As a businessman, Alexander Svetakov made his initial fortune on importing calculators and computers. He worked together with his friends and fellow students. By the mid-1990s, their endeavor evolved into one of the largest national companies in its field.
Sometimes he is asked about the most promising niches for young entrepreneurs in the 2020s. In his opinion, it is the right time to develop an online business.
Accomplishments in the Banking and Real Estate Sectors
In 1993, he launched the Absolut Bank together with his partners. In 2007, they sold it to the KBC company from Belgium. The deal was a record-breaking success in terms of profitability. A couple of weeks after it had been finalized, the mortgage crisis broke out in the USA. If Alexander Svetakov had delayed the sale of the Absolut Group by just one month, the deal would not have been as profitable. In a worst-case scenario, it might not have taken place at all.
Later, the businessman switched to the commercial real estate field. In 2013, the most resounding news about Alexander Svetakov was related to his projects in London and New York.
Until now, the financial sector remains an integral part of Alexander Svetakov’s biography. He co-owns Everest—one of the five largest asset management companies in the country. In addition, he operates the Absolut Insurance Company, on the basis of which the Mafin startup is being developed. The company provides car insurance services without the need for customers to make phone calls or visit an insurer’s physical office.
Hobbies and Beliefs
The businessman is fond of surfing. He tried it for the first time when he was nearly 40 years old, although he had been dreaming about it for many years. His favorite locations for practicing surfing are Indonesia and Mauritius. Bombardier, the renowned Canadian manufacturer, gave him a golden surfing board as a present. The gift is on display in Alexander Svetakov’s office.
Alexander tries to reduce the consumption of meat. Over time, he is planning to abandon it completely.
The entrepreneur has four children and does not wish to financially spoil them. He believes that they should earn their own money through their hard work and talents.
Charity Projects
Currently, Alexander Svetakov is primarily interested in businesses that contribute to social causes and charitable efforts. The main focus of the billionaire’s activities is on children, particularly disabled and disadvantaged ones. In 2002, he launched his Absolut Help foundation, which continues to operate today. In the following, we will mention only a few of his projects, although there are many others.
He supports an inclusive school and provided funding for building a special boarding school. The lockdown during the pandemic has turned out to be a blessing in disguise. Charity foundations had to switch to remote work with kids. Thanks to the new approach, the organization was able to reach out to boys and girls in remote locations. Alexander Svetakov ensured that families and organizations supporting them received computers and other essential devices.
During the COVID-19 pandemic, Absolut Help held two grant competitions to support non-commercial organizations. Apart from distributing funds, the businessman also helps the recipients to organize their work. The ultimate objective is to maximize the independence of charity organizations, to the point where they begin earning income on their own. The entrepreneur believes that charitable activities can be profitable. For instance, foundations can offer additional services or sell their merchandise, which is a tried and tested practice all over the world.
Alexander Svetakov’s biography would be incomplete without mentioning his love for animals. He built a complex called Yuna consisting of a shelter for homeless animals, veterinary clinic, and pet hotel. Experienced consultants from the UK helped him plan and implement this project. Yuna accepts donations and provides paid services. Its pet hotel has an excellent reputation and is almost permanently full. The entrepreneur believes that the complex can become self-sufficient soon.
