Denis Sverdlov
{{Short description|Russian businessman (born 1978)}}
{{Use dmy dates|date= March 2021}}
{{Use British English|date= March 2021}}
{{Infobox person
| name = Denis Sverdlov
| native_name = {{Nobold|Денис Свердлов}}
| image = Denis Sverdlov 2012.png
| caption = Sverdlov in 2012
| birth_name = Denis Lvovich Sverdlov
| birth_date = {{Birth date and age|1978|6|6|df=yes}}
| birth_place = Agara, Georgian SSR, Soviet Union (now Georgia)
| death_date =
| death_place =
| nationality = Russian
| citizenship =
| alma_mater = Saint Petersburg State University of Engineering and Economics
| occupation = Businessman
| known for =
| title = Founder and former CEO of Arrival
| term = March 2016 – November 2022
| predecessor =
| successor =
| boards =
| spouse =
| partner =
| children = 3
| parents =
| relatives =
| website =
}}
Denis Lvovich Sverdlov ({{langx|ru|Денис Львович Свердлов|link=no}}; born 6 June 1978) is a British-based Russian businessman, and the founder and former CEO of Arrival, a former British electric vehicle manufacturer that was based in London. The businessman who was worth $11.7 billion in April 2021 lost his billionaire status in April 2022. Sverdlov's 94% decline in net worth is the largest wealth loss of anyone outside China who appeared on the Bloomberg Billionaires Index in 2021.{{cite web |title=SPAC Produces One of World's Biggest Billionaire Implosions|url=https://www.bloomberg.com/news/articles/2022-05-17/spac-produces-one-of-world-s-biggest-billionaire-implosions|website=Bloomberg |access-date=7 May 2022}} In 2012–13, he was Russia's deputy minister for communications and mass media.
Early life
Sverdlov was born in 1978 in Agara in the then Soviet republic of Georgia.{{cite news |last1=Henni |first1=Adrien |title=Former Russian Government Official Denis Sverdlov Scores $10Bln With Electric Vehicle Startup |url=https://www.themoscowtimes.com/2021/04/05/former-russian-government-official-denis-sverdlov-scores-10bln-with-electric-vehicle-startup-a73464 |access-date=22 May 2021 |work=Moscow Times |date=5 April 2021}} He was raised in Saint Petersburg by his engineer parents who were employed at a state-operated factory specializing in manufacturing fan blades used in electrical turbines.{{Cite web |last=Arlidge |first=John |date=21 May 2021 |title=Meet Denis Sverdlov, the man with the £6 billion electric van |url=https://www.thetimes.com/article/denis-sverdlov-rich-list-2021-przt8r07j |work=The Sunday Times |url-access=subscription |archive-url=https://archive.today/20240719034327/https://www.thetimes.com/article/denis-sverdlov-rich-list-2021-przt8r07j |archive-date=19 July 2024 |url-status=live}} He has a degree in economics from Saint Petersburg State University of Engineering and Economics.{{cite news |last1=Holgate |first1=Ben |title=Russian businessman driving a £20m electric lorries dream |url=https://www.oxfordmail.co.uk/business/news/13779213.russian-businessman-driving-20m-electric-lorries-dream/ |access-date=22 May 2021 |work=Oxford Mail |date=24 September 2015}}
Career
After graduating in 2000 Sverdlov founded IT Vision, an IT consulting firm.{{Cite web|title=# 447 Denis Sverdlov|url=https://www.bloomberg.com/billionaires/profiles/denis-sverdlov/|url-status=live|website=Bloomberg|archive-url=https://web.archive.org/web/20210513115633/https://www.bloomberg.com/billionaires/profiles/denis-sverdlov/ |archive-date=13 May 2021 }}
From 2003 to 2007, Sverdlov was the co-founder and managing partner of Korus Consulting, an IT consulting firm in Russia.
Sverdlov was a co-founder and chief executive of Yota, a Russian mobile broadband company, until its acquisition by MegaFon in 2012. He sold the Yota for $1.2 billion.{{Cite web |last=Dawkins |first=David |title=The Founder Of Electric Vehicle Maker Arrival Is Worth $10.6 Billion After SPAC IPO |url=https://www.forbes.com/sites/daviddawkins/2021/03/25/the-founder-of-electric-vehicle-maker-arrival-is-worth-106-billion-after-spac-ipo/ |access-date=2025-02-18 |website=Forbes |language=en}}
Post-acquisition Sverdlov set up the Kinetik Trust to invest in a range of promising technologies and bring them to market.{{Cite news |last1=Cotterill |first1=Joseph |date=16 September 2015 |title=Kinetik bets on electric trucks with UK investment |newspaper=Financial Times |url=https://www.ft.com/content/5ece12c8-5c7d-11e5-9846-de406ccb37f2 |url-access=subscription |access-date=2021-07-09}}
He was Russia's deputy Communications and Mass Media Minister for 15 months before stepping down in 2013. He left this position following new legislation which banned government officials from holding assets abroad.{{Cite web|last=Henni|first=Adrien|date=2021-04-05|title=Former Russian Government Official Denis Sverdlov Scores $10Bln With Electric Vehicle Startup|url=https://www.themoscowtimes.com/2021/04/05/former-russian-government-official-denis-sverdlov-scores-10bln-with-electric-vehicle-startup-a73464|access-date=2021-07-13|website=The Moscow Times|language=en}}
Sverdlov founded Arrival and began its operations in the UK in 2015.{{cite web |title=Management Team |url=https://arrival.gcs-web.com/corporate-governance/management |website=Arrival |access-date=22 May 2021}} He was its CEO from March 2016 until November 2022.{{cite news |title=Founder of troubled electric van maker Arrival steps aside as CEO |url=https://www.theguardian.com/business/2022/nov/24/founder-of-troubled-electric-van-maker-arrival-steps-aside-as-ceo |website=The Guardian |date=24 November 2022 |access-date=23 December 2022 |last1=Jolly |first1=Jasper }} In March 2021 Arrival went public through a merger with a special-purpose acquisition company, CIIC Merger Corp. In February 2024, after getting its stock delisted from the Nasdaq, Arrival's UK division entered administration, with future plans of a sale of Arrival and all of its affiliated assets.{{Cite news |date=2024-02-05 |title=Arrival: Electric van maker's UK arm enters administration |url=https://www.bbc.com/news/business-68204358 |access-date=2024-02-06 |language=en-GB}}
He is also the founder of Roborace – the world’s first driverless electric racing platform.{{Cite magazine|title=Roborace is building a 300kph AI supercar – no driver required|language=en-GB|magazine=Wired UK|url=https://www.wired.co.uk/article/roborace-car-formyla-e-robocar-uk-autonomous-race-denis-sverdlov|access-date=2021-07-09|issn=1357-0978}}
Personal life
Sverdlov is married, with three children, and the family moved from France to London in September 2015.{{Cite web |title=Denis Sverdlov |url=https://www.forbes.com/profile/denis-sverdlov/ |access-date=2025-02-18 |website=Forbes |language=en}}