Dmitri Rybolovlev: To Be A Russian Billionaire

When it comes to being the richest in the world, there is no doubt that entrepreneurs top the charts. Although people may argue that several professional jobs may lead to a lot of earnings too, the list for the top billionaires in the world clearly shows that those compensations are not enough to top the charts. But why is Entrepreneurship such a Profitable Business?

Entrepreneurs and Billionaires:
Well, regarding the field of finance, a risk-averse person settles for fewer returns, while a risk-seeker demands higher returns. This is the pivoting characteristic of the field of entrepreneurship.

Entrepreneurs are people who invest huge sums of money in ventures knowing that 20% of new businesses fail in the first year, while 50% of what remains fails up till the 5th year of business. So, then when these people take such huge risks why should they not be compensated for what they do?

Of course, they are compensated handsomely then, which helps them to leave behind most professionals who work “secure jobs” concerning earnings. However, the picture is not all green. These entrepreneurs also face hard decisions and suffer setbacks in their business which seasons them for the future dealings.

Dmitri Rybolovlev:

Successes:
This is exactly what Dmitri Rybolovlev went through. Beginning his career with a venture with his father, Rybolovlev had to deal with the changing dynamics of the Russian economy as a very young entrepreneur. He moved from the partnership with his father to investment banking and security dealings, even founding his bank at one point in time.

However, Dmitri soon gave up his work in the field of investment banking to join Uralkali, which operated in the potash industry. It is here that Dmitri made most of his money and amassed the most fame owing to his sound business decisions. He soon took Uralkali to new heights and played pivotal parts in its merger with Belaruskali, another major potash producer.

Dmitri soon sold his ownership in Uralkali too and bought the AC Monaco football club, whose performance, has in recent past improved dramatically.

Setbacks:
However, as previously mentioned, an entrepreneurs life is not all green, and Dmitri’s wasn’t either. He constantly had to face lawsuits and intense competition and suffered losses, especially one in the bank of Cyprus. He also had to go through a very messy divorce which also led to deep emotional trauma. However, throughout his career, Dmitri focused on increasing labor productivity to achieve success in his companies, and it paid off.

Forbes:
This success was substantial, and soon Forbes had mentioned Dmitri’s name in its 2018 list of billionaires. According to Forbes, Dimitry Rybolovlev is the 18th richest man in Russia and 242nd in global ranking with holdings of about $6.8 billion. But as already mentioned all the success that he has, Dmitri had to work for.

His philanthropic work mainly focuses on the field of architecture while his Art collections speak for themselves. Dmitri is also acclaimed for having bought Trump’s mansion.

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Dmitri Rybolovlev: To Be A Russian Billionaire

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