Leonard Blavatnik

Leonard Blavatnik

Rank: 6 Worth:£6,237m

He emigrated penniless with his family from Russia to America in 1978 at the age of 21. After taking his master's degree at Columbia University and an MBA at Harvard, he founded Access Industries, a private-equity investment firm in Manhattan, in 1986.

In December 2007, he completed its acquisition of the Lyondell Chemical Company, paying $48 per share in cash to the latter's shareholders. Including the assumption of Lyondell debt, the deal had an enterprise value of approximately $19 billion. The resulting company, LyondellBasell Industries is the world's third largest chemical company based on net sales.

In January 2009, the U.S. operations of LyondellBasell Industries filed for bankruptcy and only emerged from Chapter11 bankruptcy protection in April 2010 in a significantly improved financial position.

Blavatnik, 53, worked with Russian tycoons to acquire stakes in newly privatised Russian companies in the oil industry. He also has investments in the aluminium and chemical industries. His base is London (having paid £41m for a house in Kensington Palace Gardens in 2004) although he also spends time in New York.

Blavatnik and Oxford University

In 2010, it was announced that Blavatnik would donate £75 million over multiple years to the University of Oxford to help establish a new School of Government. Touted as 'one of the most generous philanthropic gifts in the University’s 900-year history', Blavatnik has also indicated the possibility of increasing his benefaction up to £100 million over time.

Mr. Blavatnik, the Blavatnik Family Foundation and Access companies have supported many other cultural and philanthropic institutions over the past 15 years, including serving as the primary benefactors for numerous, major art and cultural exhibitions, including the British Museum, Tate Modern, Royal Opera House, National Portrait Gallery and Museum of Modern Art.