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Dmitry Medvedev Net Worth

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Dmitry Medvedev
Photo: Пресс-служба Президента России · Wikimedia Commons · CC BY 4.0
Estimated net worth
$2M

Quick facts

Born1965

ProfessionJurist

NationalitySoviet Union

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Background and career

Dmitry Anatolyevich Medvedev (born 14 September 1965) is a Russian politician and lawyer who served as the president of Russia from 2008 to 2012 and as prime minister of Russia from 2012 to 2020. Since 2020, he has served as the deputy chairman of the Security Council of Russia. Medvedev was elected president in the 2008 election. He was seen as more liberal than his predecessor Vladimir Putin, who was prime minister in Medvedev's presidency. Medvedev's agenda as president was a wide-ranging modernisation programme, aimed at modernising Russia's economy and society, and lessening the country's reliance on oil and gas. During Medvedev's tenure, the United States and Russia signed the New START nuclear arms reduction treaty. In addition to overseeing Russia's recovery from the Great Recession, his presidency also witnessed the Russo-Georgian War. Medvedev also launched an anti-corruption campaign, yet was later being accused of corruption himself. He served a single term in office and was succeeded by Putin following the 2012 presidential election. Putin then appointed Medvedev as prime minister. He resigned along with the rest of the government on 15 January 2020 to allow Putin to make sweeping constitutional changes and was succeeded by Mikhail Mishustin on 16 January 2020. Putin appointed Medvedev the same day to the new office of deputy chairman of the Security Council. To some analysts, Medvedev's presidency seemed to promise positive changes both at home and in ties with the West, signaling "the possibility of a new, more liberal period in Russian politics". However, since the prelude to the Russian invasion of Ukraine, he has adopted increasingly hawkish and anti-Western positions. Observers both domestically and internationally suggested that the break with past rhetoric was Medvedev attempting to change his public image as a moderate subordinate to Putin. He is considered by many sources to be a potential successor of Putin.

Dmitry Medvedev was born on 14 September 1965 in Leningrad, Soviet Union (now Saint Petersburg, Russia). His father, Anatoly Afanasyevich Medvedev (November 1926 – 2004), was a chemical engineer teaching at the Leningrad State Institute of Technology. Dmitry's mother, Yulia Veniaminovna Medvedeva (née Shaposhnikova, born 21 November 1939), studied languages at Voronezh University and taught Russian at Herzen State Pedagogical University. Later, she would also work as a tour guide at Pavlovsk Palace. The Medvedevs lived in a 40 m2 apartment at 6 Bela Kun Street in the Kupchino Municipal Okrug (district) of Leningrad. Dmitry was his parents' only child. The Medvedevs were regarded at the time as a Soviet intelligentsia family. His maternal grandparents were Ukrainians whose surname was Kovalev, originally Koval. Medvedev traces his family roots to the Belgorod region. As a child, Medvedev was intellectually curious, described by his first grade teacher Vera Smirnova as a "dreadful why-asker". After school, he would spend some time playing with his friends before hurrying home to work on his assignments. In the third grade, Medvedev studied the ten-volume Small Soviet Encyclopedia belonging to his father. In the second and third grades, he showed interest in dinosaurs and memorised Earth's primary geologic development periods, from the Archean up to the Cenozoic. In the fourth and fifth grades he demonstrated interest in chemistry, conducting elementary experiments. He was involved to some degree with sport. In grade seven, his adolescent curiosity blossomed through his relationship with Svetlana Linnik, his future wife, who was studying at the same school in a parallel class. This apparently affected Medvedev's school performance. He calls the school's final exams in 1982 a "tough period when I had to mobilize my abilities to the utmost for the first time in my life."

In the autumn of 1982, 17-year-old Medvedev enrolled at Leningrad State University to study law. Although he also considered studying linguistics, Medvedev later said he never regretted his choice, finding his chosen subject increasingly fascinating, stating that he was lucky "to have chosen a field that genuinely interested him and that it was really 'his thing'". Fellow students described Medvedev as a correct and diplomatic person who in debates presented his arguments firmly, without offending. During his student years, Medvedev was a fan of the English rock bands Black Sabbath, Led Zeppelin, and Deep Purple. He was also fond of sports, and participated in athletic competitions in rowing and weight-lifting. He graduated from the Leningrad State University Faculty of Law in 1987 (together with Ilya Yeliseyev, Anton Ivanov, Nikolay Vinnichenko, Konstantin Chuychenko and Aleksandr Gutsan, who later became associates). After graduating, Medvedev considered joining the prosecutor's office to become an investigator however, he took an opportunity to pursue graduate studies as the civil law chair, deciding to accept three budget-funded post-graduate students to work at the chair itself. In 1990, Medvedev defended his dissertation titled, "Problems of Realisation of Civil Juridical Personality of State Enterprise" and received his Doctor of Juridical Science (Candidate of Juridical Sciences) degree in civil law. Anatoly Sobchak, a major democratic politician of the 1980s and 1990s was one of Medvedev's professors at the university. In 1988, Medvedev joined Sobchak's team of democrats and served as the de facto head of Sobchak's successful campaign for a seat in the new Soviet parliament, the Congress of People's Deputies of the USSR. After Sobchak's election campaign Medvedev continued his academic career in the position of associate professor (docent) at his alma mater, now renamed Saint Petersburg State University. He taught civil and Roman law until 1999. According to one student, Medvedev was a popular teacher; "strict but not harsh". During his tenure Medvedev co-wrote a popular three-volume civil law textbook which over the years has sold a million copies. Medvedev also worked at a small law consultancy firm which he had founded with his friends Anton Ivanov and Ilya Yeliseyev, to supplement his academic salary.

In 1990, Anatoly Sobchak returned from Moscow to become chairman of the Leningrad City Council. Sobchak hired Medvedev who had previously headed his election campaign. One of Sobchak's former students, Vladimir Putin, became an adviser. The next summer, Sobchak was elected mayor of the city, and Medvedev became a consultant to City Hall's Committee for Foreign Affairs, which was headed by Putin. In November 1993, Medvedev became the legal affairs director of Ilim Pulp Enterprise (ILP), a St. Petersburg-based timber company. Medvedev aided the company in developing a strategy as the firm launched a significant expansion and received 20 percent of the company's stock. In the next seven years, Ilim Pulp Enterprise became Russia's largest lumber company with an annual revenue of around $500 million. Medvedev sold his shares in the company in 1999. He then took his first job at the central government of Russia. The profits realised by Medvedev are unknown.

In June 1996, Medvedev's colleague Vladimir Putin was brought into the Russian presidential administration. Three years later, on 16 August 1999, he became Prime Minister of Russia. Three months later, in November 1999, Medvedev became one of several from St. Petersburg brought in by Vladimir Putin to top government positions in Moscow. On 31 December, he was appointed deputy head of the presidential staff, becoming one of the politicians closest to future President Putin. On 17 January 2000, Dmitry Medvedev was promoted to 1st class Active State Councillor of the Russian Federation (the highest federal state civilian service rank) by the Decree signed by Vladimir Putin as acting President of Russia. During the 2000 presidential elections, he was Putin's campaign manager. Putin won the election with 52.94% of the popular vote. Medvedev was quoted after the election commenting he thoroughly enjoyed the work and the responsibility calling it "a test of strength". As president, Putin launched a campaign against corrupt oligarchs and economic mismanagement. He appointed Medvedev chairman of gas company Gazprom's board of directors in 2000 with Alexei Miller. Medvedev put an end to the large-scale tax evasion and asset stripping by the previous corrupt management. Medvedev then served as deputy chair from 2001 to 2002, becoming chair for the second time in June 2002, a position which he held until his ascension to presidency in 2008. During Medvedev's tenure, Gazprom's debts were restructured and the company's market capitalisation grew from $7.8 billion in 2000 to $300 billion in early 2008. Medvedev headed Russia's negotiations with Ukraine and Belarus during gas price disputes. In October 2003, Medvedev replaced Alexander Voloshin as presidential chief of staff. In November 2005, Medvedev moved from the presidential administration of the government when Putin appointed him as first deputy prime minister of Russia. In particular, Medvedev was made responsible for the implementation of the National Priority Projects focusing on improving public health, education, housing and agriculture. The program saw an increase of wages in healthcare and education and construction of new apartments but its funding, 4% of the federal budget, was not enough to significantly overhaul Russia's infrastructure. According to opinion polls, most Russians believed the money invested in the projects had been spent ineffectively.

Following his appointment as first deputy prime minister, many political observers began to regard Medvedev as a potential candidate for the 2008 presidential elections, although Western observers widely believed Medvedev was too liberal and too pro-Western for Putin to endorse him as a candidate. Instead, Western observers expected the candidate to arise from the ranks of the so-called siloviki, security and military officials many of whom were appointed to high positions during Putin's presidency. The former KGB official Sergei Ivanov and the administrator-specialist Viktor Zubkov were seen as the strongest candidates. In opinion polls asking Russians to pick their favourite successor to Putin from a list of candidates not containing Putin himself, Medvedev often came out first, beating Ivanov and Zubkov as well as the opposition candidates. In November 2006, Medvedev's trust rating was 17%, more than double than that of Ivanov. Medvedev's popularity was probably boosted by his high-profile role in the National Priority Projects. Many observers were surprised on 10 December 2007 when President Putin introduced Medvedev as his preferred successor. This was staged on TV with four parties suggesting Medvedev's candidature to Putin, and Putin then giving his endorsement. The four pro-Kremlin parties were United Russia, Fair Russia, Agrarian Party of Russia and Civilian Power. United Russia held its party congress on 17 December 2007 where by secret ballot of the delegates, Medvedev was officially endorsed as their candidate in the 2008 presidential election. He formally registered his candidacy with the Central Election Commission on 20 December 2007 and said he would step down as chairman of Gazprom, since under the current laws, the president is not permitted to hold another post. His registration was formally accepted as valid by the Russian Central Election Commission on 21 January 2008. Describing his reasons for endorsing Medvedev, Putin said:

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