Chimediin Saikhanbileg Net Worth

Background and career

Chimediin Saikhanbileg (Mongolian: Чимэдийн Сайханбилэг; born 17 February 1969) is a Mongolian politician who served as the 28th Prime Minister of Mongolia from 2014 to 2016, and whose work and career are associated with the political, economic, and mining sectors of Mongolia. A member of the Democratic Party, he was elected as a member of the State Great Khural (parliament) in 1996, 2008, and 2012. In his early political years, he was appointed to the first cabinet of Tsakhiagiin Elbegdorj as minister of education in 1998. Saikhanbileg later became the Chief Cabinet Secretary for the cabinet of Norovyn Altankhuyag in 2012. He served in this role until the resignation of Altankhuyag and his subsequent appointment as prime minister in 2014.

At the start of his tenure, Mongolia's mining-reliant economy had been experiencing an economic downturn due to falling commodity prices and sharp decline in foreign direct investment. His cabinet primarily focused on dealing with the country's economic issues. In an effort to relieve the economy, Saikhanbileg's cabinet notably oversaw the finalization of Oyu Tolgoi mine project's two-year stalled investment deal with Rio Tinto in 2015 and purchase of Russia's 49% stake in Erdenet Mining Corporation in 2016. These decisions were met with domestic controversy and criticism, especially from the Mongolian People's Party (MPP). Saikhanbileg and notable other Democratic leaders were unseated in 2016, when the party lost to the MPP. Saikhanbileg was briefly arrested by corruption probes in 2018 and has been residing in the United States since 2019.