Who is Alexey Mordashov, Russia’s richest man, who owns superyacht that sailed through Hormuz?

A Russian billionaire’s superyacht is in the news after it sailed through the Strait of Hormuz.

Multiple ship-tracking platforms show that Alexey Mordashov’s Nord superyacht traversed the currently blockaded Strait of Hormuz.

Mordashov is under sanctions from the West, including the United States, the United Kingdom and the European Union. Iran announced that the Strait of Hormuz was closed after strikes by the US and Israel began on February 28.

But who is Mordashov? What about the superyacht Nord?

Let’s take a closer look.

Russia’s richest man

Valued at around $37 billion (Rs 3,50,000 crore), Mordashov is Russia’s richest man and is said to be close to Russian President Vladimir Putin. According to Forbes, Mordashov is the largest shareholder in the steel company Severstal. He is said to own around 77 per cent of the firm. Mordashov was at the helm of the firm for nearly two decades before he resigned in 2015.

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According to Bloomberg, Mordashov also owns a stake in the mining company Nordgold, power generation equipment maker Power Machines, and European tour operator TUI. He also has a share in the hypermarket chain Lenta and telecommunications operator Rostelecom.

As per Forbes, Mordashov’s origins are humble. His parents were mill workers. He did his Master of Business Administration from the University of Northumbria and his Master of Science in Engineering from the Leningrad Institute of Economics. Mordashov became finance director of a steel mill after the plant's ageing director ordered him to buy shares to keep them from an outsider. However, Mordashov kept most of the shares for himself.

Mordashov is among the many Russians sanctioned by the United States and European Union after Russia's invasion of Ukraine for their links to Putin. After the invasion, Mordashov quickly transferred some of his key assets, including shares of the leisure company TUI and mining outfit Nordgold, to his family.

Valued at around $37 billion (Rs 3,50,000 crore), Alexey Mordashov is Russia’s richest man and is said to be close to Russian President Vladimir Putin. Reuters

He has claimed that the company Severstal lost over $400 million in 2022 due to Western sanctions. Severstal in 2014 sold off two US steel plants at a time when tensions between Russia and the West were increasing, as per Forbes. He is married and has seven children.

Inside the superyacht

The Nord is a 142-foot superyacht valued at over $500 million (Rs 4,731 crore). According to The Sun newspaper, Nord is one of the largest yachts on the planet. It has 20 luxury cabins, a swimming pool, a helipad and even its own submarine. It has a spa, sauna, gym, and beach club with direct access to the sea.

Delivered in 2021 by the German shipyard Lürssen, the Nord can reach a speed of 18 knots. Its interiors and exteriors were designed by the Italian design studio Nuvolari Lenard. The Nord has a steel hull and aluminium superstructure. It has a tonnage of over 10,000 GT.

The Nord is a 142-foot superyacht valued at over $500 million (Rs 4,731 crore). Reuters

Interestingly, Mordashov is not officially on paper as the owner of the Nord. However, shipping data and Russian corporate records from 2025 show the vessel was registered to a Russian firm owned by Mordashov’s wife in 2022. This firm is registered in the Russian town of Cherepovets, where Mordashov’s steelmaker Severstal is also registered.

Data from the MarineTraffic platform shows that it left a Dubai marina around 2 pm GMT on Friday, crossed the strait on Saturday morning, and arrived in Muscat early on Sunday. It remains unclear how the Nord superyacht passed through the Strait of Hormuz. Only a handful of vessels have done so since the beginning of the war — a stark contrast to the 140 vessels per day that were passing through the critical maritime chokepoint prior to February 28.

Russia and Iran are longstanding allies and have become closer in recent years, including via a 2025 treaty that strengthened intelligence and security cooperation. Iranian Foreign Minister Abbas Aragchi arrived in Russia to meet President Vladimir Putin on Monday after discussions with mediators in Pakistan and Oman over the weekend.

Aragchi wrote on X, "Recent events have evidenced the depth and strength of our strategic partnership. As our relationship continues to grow, we are grateful for solidarity and welcome Russia's support for diplomacy."

FAQs

1. Who is Alexey Mordashov?

Alexey Mordashov is a Russian billionaire industrialist and the largest shareholder in steel company Severstal, with an estimated net worth of $37 billion (Rs 3,50,000 crore).

2. Why is his yacht Nord in the news?

His superyacht Nord gained attention after reportedly sailing through the blockaded Strait of Hormuz.

3. What makes the Nord superyacht unique?

The Nord is a 142-foot luxury vessel featuring 20 cabins, a helipad, a submarine, spa facilities. It is valued at over $500 million (Rs 4,731 crore).

With inputs from agencies