Richest Oil Tycoons In The World [Top 10]
As the world continues to rely on fuel as a primary source of energy, the individuals behind the global oil industry have amassed immense wealth. Despite facing challenges such as fluctuating oil prices and economic uncertainties, these oil tycoons have managed to secure their positions among the richest individuals in the world. In this article, we will explore the top 10 fuel billionaires and delve into their remarkable journeys to success.
Top 10 Richest Fuel Billionaires In The World
10. Elaine Marshall – $8.8 Billion
- Net Worth: $8.8 Billion
- Source of Wealth: Koch Industries
- Date of Birth: Unknown
- Age: Unknown
- Country: United States
Elaine Marshall is the only female on our list of oil tycoons. As an American attorney and politician, she controls 15 percent of Koch Industries and serves on its board. Inheriting her fortune from her late husband, Elaine has successfully managed her wealth and business interests.
9. Roman Abramovich
- Net Worth: $9.2 Billion
- Source of Wealth: Various Investments (including oil)
- Date of Birth: October 24, 1966
- Age: 56
- Country: Russia
Roman Abramovich, a Russian businessman, started his entrepreneurial journey as a street trader before venturing into various businesses, including oil. Through controversial means, he acquired a controlling interest in Sibneft, an oil company, and later diversified his investments into sports, art, finance, and other industries.
8. Mikhail Fridman
- Net Worth: $12.6 Billion
- Source of Wealth: Alfa Group, LetterOne
- Date of Birth: April 21, 1964
- Age: 59
- Country: Russia
Mikhail Fridman, along with his college friends German Khan and Alexei Kuzmichev, controls Alfa Group and LetterOne. They formed Alfa-Eco, a commodities trader, in 1989, and later sold oil giant TNK-BP to Rosneft, earning Fridman a significant cash windfall. Today, he is one of the wealthiest individuals in the world.
7. George Kaiser
- Net Worth: $13.9 Billion
- Source of Wealth: BOK Financial Corporation, Excelerate Energy
- Date of Birth: July 29, 1942
- Age: 81
- Country: United States
George Kaiser, an American billionaire, is the chairman of BOK Financial Corporation and the owner of Excelerate Energy. He took over his father’s small oil company and transformed it into the 23rd largest private energy exploration company in the U.S. Kaiser has used his financial success to invest in various companies, including the Oklahoma City Thunder.
6. Harold Hamm
- Net Worth: $18.5 Billion
- Source of Wealth: Continental Resources (Independent Oil Company)
- Date of Birth: December 11, 1945
- Age: 77
- Country: United States
Harold Hamm, an American entrepreneur, founded and chairs Continental Resources, one of the largest independent oil companies in the United States. Hamm revolutionized the industry by introducing horizontal drilling and hydraulic fracturing techniques in North Dakota. Today, Continental Resources produces over 160,000 barrels of oil per day.
5. Gennady Timchenko
- Net Worth: $18.5 Billion
- Source of Wealth: Volga Group (Private Investment Group)
- Date of Birth: November 9, 1952
- Age: 70
- Country: Russia
Gennady Timchenko, a Russian oligarch and businessman, is the founder and owner of the private investment group Volga. He was previously a co-owner of Gunvor Group and remains one of the most influential individuals in Russia. Despite being under U.S. sanctions since 2014, Timchenko continues to thrive in the fuel industry, partnering with other billionaires like Leonid Mikhelson.
4. Vagit Alekperov
- Net Worth: $20.5 Billion
- Source of Wealth: LUKOIL (Russian Oil Company)
- Date of Birth: September 1, 1950
- Age: 73
- Country: Russia
Vagit Alekperov, the president of LUKOIL, one of Russia’s leading oil companies, has an inspiring rags-to-riches story. Starting as an oil rig worker on the Caspian Sea, Alekperov climbed the ranks to become the deputy minister of the oil industry in the Soviet Union. LUKOIL is now the third-largest company in Russia, after Sberbank and Rosneft.
3. Leonid Mikhelson
- Net Worth: $21.6 Billion
- Source of Wealth: Novatek (Russian Gas Company), Sibur (Petrochemical Company)
- Date of Birth: August 11, 1955
- Age: 68
- Country: Russia
Leonid Mikhelson, a Russian-Israeli businessman, is the CEO, chairman, and major shareholder of Novatek, a Russian gas company. He also purchased a significant stake in the petrochemical company Sibur. Known for his close ties with President Putin, Mikhelson has established himself as a prominent figure in the Russian fuel industry.
2. Charles Koch
- Net Worth: $60.6 Billion
- Source of Wealth: Koch Industries (Pipelines, Chemicals, Dixie Cups, Stainmaster Carpet)
- Date of Birth: November 1, 1935
- Age: 87
- Country: United States
Charles Koch is an American billionaire who has been the chairman and CEO of Koch Industries since 1967. Koch owns 42 percent of the company, which generates revenue from investments in pipelines, chemicals, Dixie cups, and Stainmaster carpet. His brother and partner, David Koch, had a similar net worth before his passing in 2019.
1. Mukesh Ambani
- Net Worth: $91.8 Billion
- Source of Wealth: Reliance Industries (Petrochemicals, Oil, Gas, Telecom, Retail)
- Date of Birth: April 19, 1957
- Age: 66
- Country: India
Mukesh Ambani, an Indian businessman, serves as the chairman and managing director of Reliance Industries. Under his leadership, Reliance Industries has diversified its investments into various sectors, including petrochemicals, oil, gas, telecom, and retail. With an annual revenue of over $74 billion, Ambani’s net worth has tripled in the past two years.
Conclusion
Despite the challenges faced by the fuel industry, these 10 billionaires have managed to accumulate immense wealth through their involvement in oil, gas, and related sectors. Their entrepreneurial spirit, strategic investments, and leadership have propelled them to the top of the global wealth rankings. As the world continues to evolve, their influence in the fuel industry is likely to shape the future of energy and business on a global scale.
