Der russische Oligarch Alexey Mordashov
Russian oligarch Alexei Mordashov

Russian oligarch Alexei Mordashov
Photo Alliance / Russian Look | Maxim Konstantinov

Russian oligarch Alexei Mordashov is the single largest shareholder in the airline and travel company Tui – and a friend of Putin.

Mordashov owns about a third of the company’s shares, and his fortune is estimated at $29.1 billion. Now the European Union has issued sanctions against Mordashov.

Tui assumes that any restrictions or sanctions against Mordashov will not have any lasting negative consequences for the company.

Alexey Mordashov is a Russian oligarch, who is the largest single shareholder of TUI Travel and Airlines and a member of its board of directors. He currently owns about a third of the company’s shares.

US magazineForbesMordashov’s fortune in 2021 is equal to 25.95 billion euros. In addition to his stake in Tui, he is the largest shareholder in Severstal, the second largest Russian steel producer.

the problem? Mordashov is not only wealthy, but he is also a friend of Putin and has been considered a Kremlin loyalist for years. In Putin’s audience, he sits there “like a boy in the kindergarten waiting for oatmeal,” wrote the Russian daily Kommersant, for example, from which “Frankfurter RundschauQuoted. That could become a problem for Tui.

Mordashov’s fortune is estimated at $29.1 billion

Russia’s official news agency reported that in late February 24, the day Putin ordered an attack on Ukraine, Mordashov attended a meeting between Russian business representatives and the president. tast. On Monday, the European Union imposed sanctions on an oligarch close to Russian President Vladimir Putin. Among other things, their assets in the European Union will be frozen and their freedom to travel restricted. Alexei Mordashov is also on the sanctions list.

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Tui: The company is run by the board of directors, not the shareholders

The controversial contributor topic also appears to be well known to Tui herself. At least that’s what emerges from an internal letter from Tui CEO Fritz Jossen to employees, available to Business Insider. According to Jossen, Mordashov has been a shareholder of Tui for about 15 years and is also one of the 20 supervisory board members elected at the general meeting. “However, like every German joint stock company, our company is managed by a board of directors and not by shareholders or a supervisory board,” Jossen wrote in the letter. It is therefore assumed that any restrictions or sanctions against Mordashov will not have any lasting negative consequences.

Materials from the Department of Political Affairs


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