Alex Shnaider

Shnaider moved with his family to Israel when he was 4, and then to Canada when he was 13. He graduated from York University in Toronto in 1991 with a bachelor's degree in economics.{{Cite web|title = Man of Steel|url = https://www.forbes.com/forbes/2005/0328/132.html|website = Forbes|date = 2005-03-28|accessdate = 2016-01-11}}

In 1994, Shnaider co-founded Midland Group—originally a steel trader—with former business partner Eduard Shifrin. The company operated in Ukraine before government-owned steel factories were privatized. It was initially acting as sales agent and factor for some state owned companies. In 1999, Midland Resources began buying shares in the Zaporizhstal steel mill. By 2001, Shnaider's consortium had bought 93 percent of the mill for $70 million. In 2004, Shnaider stated that the main activities of the Midland Group were steel manufacturing, construction, shipping, and agriculture.{{Cite web |last=Bishop |first=Matt |date=2025-01-28 |title=The billionaire Trump associate who bought Jordan F1 team — and turned a quick profit |url=https://www.motorsportmagazine.com/articles/single-seaters/f1/the-billionaire-trump-associate-who-bought-jordan-f1-team-and-turned-a-quick-profit/ |access-date=2025-03-30 |website=Motor Sport Magazine |language=en-GB}}

According to the Panama Papers, in 2010, Shnaider sold at least half of Midland's ownership in Zaporizhstal to buyers financed by Russian state-owned Vnesheconombank, who were then themselves acquired by the development bank.{{cite news|last1=Protess|first1=Ben|last2=Kramer|first2=Andrew E.|last3=McIntire|first3=Mike|title=Bank at Center of U.S. Inquiry Projects Russian 'Soft Power'|url=https://www.nytimes.com/2017/06/04/business/vnesheconombank-veb-bank-russia-trump-kushner.html|accessdate=5 June 2017|work=The New York Times|date=5 June 2017|page=A1}}

In February 2005, Shnaider bought Formula One team Jordan Grand Prix from Eddie Jordan for approximately US$50 million, and renamed it Midland F1 Racing for the 2006 Formula One season. On 9 September 2006, the team was sold to Spyker Cars for US$107 million.{{cite web|url=http://www.grandprix.com/ns/ns17434.html|title=Midland sells MF1 Racing to Spyker|accessdate=2007-06-04| archiveurl= https://web.archive.org/web/20070426030344/http://www.grandprix.com/ns/ns17434.html| archivedate= 26 April 2007 | url-status= live}}

In December 2007, Shnaider bought Israeli soccer team Maccabi Tel Aviv for an estimated 12 million euros.{{Cite news|title = Alex Shnaider, a Russian-born Canadian businessman, has bought Israeli soccer club Maccabi Tel Aviv.|url = https://www.thestar.com/sports/soccer/2007/12/19/canadian_buys_israel_soccer_team_maccabi.html|newspaper = The Toronto Star|date = 2007-12-19|access-date = 2016-01-11|issn = 0319-0781}} On 4 August 2009, Shnaider sold the club to Canadian property developer Mitchell Goldhar, after investing $20 million in the club.{{Cite web|title = Local Soccer: New Maccabi TA owneron his way from Toronto - Sports - Jerusalem Post|url = http://www.jpost.com/Sports/Local-Soccer-New-Maccabi-TA-owneron-his-way-from-Toronto|website = www.jpost.com| date=6 August 2009 |accessdate = 2016-01-11}} Goldhar took on Shnaider's 80 per cent stake in the club by agreeing to take on its financial commitments; he also paid $750,000 to the Maccabi Tel Aviv sports foundation for its 20 percent stake.

Shnaider partnered with Donald Trump in the construction of the Trump International Hotel and Tower, which is in Toronto. Alex Shnaider's main co investor was Russian Canadian gaming entrepreneur Val Levitan. Trump was a minority shareholder in the project, and his firm owned the property management contract (the minority share and management contract were bought out in 2017, with the property renamed the Adelaide Hotel Toronto). In 2007, Shnaider was reported as having decided to keep the penthouse suite for himself, at an estimated value of $20 million.{{cite news|last1=Wong|first1=Tony|title=Priciest condo in tallest tower goes to youngest billionaire |url=https://www.thestar.com/business/2007/08/11/priciest_condo_in_tallest_tower_goes_to_youngest_billionaire.html|accessdate=6 June 2017|work=The Toronto Star|date=11 August 2007}} In 2017, the building and Shnaider were alleged as key links in a financial connection between Trump and the Russian government.{{cite news|last1=Barry|first1=Rob|last2=Stewart|first2=Christopher S.|last3=Forrest|first3=Brett|title=Russian State-Run Bank Financed Deal Involving Trump Hotel Partner|url=https://www.wsj.com/articles/russian-state-run-bank-financed-deal-involving-trump-hotel-partner-1495031708|accessdate=May 17, 2017|work=The Wall Street Journal|date=May 17, 2017}}{{cite news|title=Russian bank directly linked to Putin helped finance a Trump hotel|url=http://theweek.com/speedreads/699538/russian-bank-directly-linked-putin-helped-finance-trump-hotel|accessdate=May 17, 2017|publisher=The Week|date=May 17, 2017}} Shnaider reportedly used proceeds from the sale of his Ukrainian steel mill to partially meet cost overruns at the Toronto Trump Tower.

In March 2010, Shnaider invested in a property consortium that bought Toronto's King Edward Hotel for $50 million. The asset was purchased in a distressed sale from Lehman Brothers.{{Cite news|title = New condos for the King (King Edward Hotel, that is)|url = https://www.theglobeandmail.com/report-on-business/new-condos-for-the-king-king-edward-hotel-that-is/article4330238/|website = The Globe and Mail| date=25 October 2010 |accessdate = 2016-01-11| last1=Jermyn | first1=Diane }} Shnaider originally invested alongside three other real estate companies, Skyline International Development Inc., Dundee KE Inc., and Serruya Realty Group Inc. However, on 1 August 2012, Omni Hotels & Resorts CEO James D. Caldwell also took a stake in the hotel; and on 24 November 2015, Omni Hotels and Resorts announced that it had bought the other parties out and fully owned the hotel.{{Cite web|title = Toronto's King Edward Hotel Sold to Omni Hotels|url = http://www.hotelnewsresource.com/article86733.html|website = www.hotelnewsresource.com|accessdate = 2016-01-11}}

In 2011, Shnaider formed a Delton Retail fund, a property group, with N3 Real Estate, owned by Dutch businessman A.D.G van Dam.{{Cite web|title = N3 Forms $200M Fund|url = http://nreionline.com/deals/n3-forms-200m-fund|website = nreionline.com| date=24 January 2011 |accessdate = 2016-01-11}}

On 30 December 2015, Shnaider invested NIS₪39 million in Mishorim Development Ltd., a real estate company controlled by developer Gil Blutrich.{{Cite web|title=Alex Shnaider buys 21% stake in Mishorim - Globes English |url=http://www.globes.co.il/en/article-alex-shnaider-buys-21-stake-in-mishorim-1001092253 |website=Globes |accessdate=2016-01-11 |url-status=dead |archiveurl=https://web.archive.org/web/20160305005817/http://www.globes.co.il/en/article-alex-shnaider-buys-21-stake-in-mishorim-1001092253 |archivedate=5 March 2016 }} Shnaider had already invested alongside Blutrich in the King Edward Hotel, which Blutrich invested in via Skyline International Development Inc., a Mishorim subsidiary. In July 2016, he increased his holdings in this company from 21% to 42%.{{Cite news|url=https://en.globes.co.il/en/article-alex-shnaider-to-buy-major-stake-in-mishorim-1001142432 |title=Alex Shnaider to increase stake in Mishorim|last=Levy|first=Aviv|work=Globes|date=28 Jul 2016|access-date=Feb 28, 2020}} He is currently the sole holder of controlling interest when the Israeli court ruled in favor of him in August 2020, in a legal lawsuit filed by his past partner Gil Blutrich.{{Cite news|url=https://www.globes.co.il/news/article.aspx?did=1001339576|title=ניצחון לאלכס שניידר: ביהמ"ש דחה את תביעת בלוטרייך וקבע כי הסכם השליטה במישורים בוטל כדין|work=Globes|lang=he|date=2020-08-17|access-date=Sep 18, 2020}}

Shnaider is married to Simona Shnaider (née Birshtein) daughter of Boris Birshtein.{{Cite news|title = The Invisible Man|url = https://www.theglobeandmail.com/report-on-business/rob-magazine/the-invisible-man/article18228210/?page=all|website = The Globe and Mail| date=27 May 2005 |accessdate = 11 January 2016| last1=Posner | first1=Michael }} They have three daughters. In August 2016, they sold their home in Bridle Path, Toronto, for $22 million.{{cite news|title=Alex Shnaider has finally sold his Bridle Path mansion for $22 million|url=http://torontolife.com/real-estate/houses/alex-shnaider-finally-sold-bridle-path-mansion-22-million/|accessdate=6 June 2017|work=Toronto Life|date=18 August 2016}}

Schnaider is President of the Jewish Russian Community Centre of Ontario.{{cite web|url=https://www.centralhealthline.ca/displayservice.aspx?id=179501|title=Jewish Russian Community Centre of Ontario|date=November 13, 2019|website=November 13, 2019|accessdate=11 October 2020}}

{{Reflist}}

• [https://web.archive.org/web/20051025104313/http://www.midland.gg/index.php?page=default%2Fmain Midland Group]
• [http://yachts.monacoeye.com/yachtsbysize/pages/midlandia01.html Midlandia] Photo of Shnaider's yacht in Monaco

{{Jordan Grand Prix}}

{{Midland F1 Racing}}

{{DEFAULTSORT:Shnaider, Alex}}

Category:1968 births

Category:Living people

Category:Canadian commodities traders

Category:Canadian financiers

Category:Canadian investors

Category:Canadian people of Russian-Jewish descent

Category:Formula One team owners

Category:Ukrainian emigrants to Canada

Category:Israeli emigrants to Canada

Category:York University alumni

Category:Canadian Jews

Category:Zaporizhstal

Category:Oligarchs

Category:Businesspeople from Chernivtsi

Category:Russian businesspeople in Canada