George Mack Net Worth: $1.1 Billion 2025
Sergei Makhlai (George Mack)
- Net Worth: $1.1 Billion
- Age: 56
- Born: February 16, 1969
- Country of Origin: Russia (now holds American citizenship)
- Source of Wealth: Fertilizer Industry (TogliattiAzot)
- Last Updated: 2025
Sergei Makhlai – Net Worth Over the Years
| Year | Net Worth |
|---|---|
| 2019 | $1.0 billion |
| 2020 | $1.0 billion |
| 2021 | $1.0 billion |
| 2022 | $1.1 billion |
| 2023 | $1.1 billion |
| 2024 | $1.1 billion |
Who is Sergei Makhlai?
Sergei Makhlai, also known as George Mack, is a Russian-born businessman and the majority shareholder of TogliattiAzot (TOAZ), one of the world's largest ammonia producers. In 2019, he acquired American citizenship and has since resided in self-imposed exile, reportedly in London.
Early Life
Born on February 16, 1969, in Gubakha, Perm Krai, Russia, Sergei Makhlai hails from a family with a mining background. His father, Vladimir Makhlai, served as the chairman of TogliattiAzot. Sergei holds a Master of Science degree from Perm Polytechnical Institute.
Career
TogliattiAzot (TOAZ):
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Leadership: Sergei Makhlai became chairman of TogliattiAzot in March 2011, succeeding his father. Under his leadership, the company underwent significant modernization, including environmental protection initiatives that improved water and air quality monitoring. These efforts led to increased profits and revenues in 2015.
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Legal Challenges: In November 2019, Sergei was convicted in absentia by a Russian court for embezzling 77 billion rubles from TogliattiAzot and causing harm to minority shareholders. He received a nine-year prison sentence and was ordered to pay compensation. However, by that time, he had already fled Russia and now resides in self-imposed exile.
Philanthropy and Public Service:
Sergei has been involved in various philanthropic activities, including defending Russia's moral values and traditions. He led demonstrations condemning members of the punk band Pussy Riot and increased TogliattiAzot's spending on local social initiatives and cultural events. Additionally, he served on the board of Togliatti State University.
Lifestyle & Net Worth
Despite his legal issues and exile, Sergei Makhlai's net worth has remained relatively stable, estimated at $1.1 billion as of 2025. His wealth primarily stems from his significant stake in TogliattiAzot, a company that continues to be a major player in the global fertilizer industry.
Summary
Sergei Makhlai's career has been marked by significant achievements in the fertilizer industry, particularly through his leadership of TogliattiAzot. However, legal troubles and his subsequent exile have impacted his public image. Nevertheless, his substantial wealth and ongoing influence in the industry remain notable.
References
- "Sergei Makhlai: Net Worth & Biography" – Goodreturns
- "Pandora Papers reveal details of the Makhlai family hidden ownership schemes" – Newsbase
- "Sergei Makhlai" – Forbes
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