Len Blavatnik

Blavatnik was born in Odesa in 1957, then in the Ukrainian SSR and part of the Soviet Union, to a Jewish family.[http://www.haaretz.com/news/russian-born-u-s-billionaire-offers-to-buy-ma-ariv-1.249288 "Russian-born U.S. billionaire offers to buy Ma'ariv"], haaretz.com; accessed February 23, 2015.[http://www.jpost.com/JewishWorld/JewishFeatures/Article.aspx?id=187418 "The world's 50 Richest Jews: 11-20: Len Blavatnik"], jpost.com, September 7, 2010.{{Cite web |last=Velsey |first=Kim |date=March 3, 2022 |title=Secret Staircases and Gold Everything: A Tour of Russian-Billionaire New York |url=https://www.curbed.com/2022/03/russian-oligarch-real-estate-nyc-tour.html |access-date=March 6, 2022 |website=Curbed |language=en-us}} His parents moved to Yaroslavl, a Russian city north of Moscow, when he was a child.{{cite news |last=Foy |first=Henry |date= |title=From Russian oil to rock'n'roll: the rise of Len Blavatnik |url=https://www.ft.com/content/c1889f48-871a-11e9-a028-86cea8523dc2 |archive-url=https://ghostarchive.org/archive/gK9Kw |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}} He attended Moscow State University of Railway Engineering but did not complete his coursework due to the family's request for emigration visas. At the University of Railway Engineering, he became close friends with Viktor Vekselberg, another Ukrainian Jew. Vekselberg would later go on to found Renova Group.

Blavatnik's family emigrated from the Soviet Union to the United States of America in 1978 and, in 1981, he received a master's degree in computer science from the School of Engineering and Applied Science at Columbia University,{{cite web |title=Len Blavatnik visits Medical School, discusses philanthropy, science |url=https://news.harvard.edu/gazette/story/2019/10/philanthropist-len-blavatnik-returns-to-harvard-medical-school/ |website=The Harvard Gazette |date=October 21, 2019 |access-date=21 September 2022}} and an MBA from Harvard Business School in 1989.{{Cite web |date=2019-01-15 |title=The Blavatnik Fund for Engineering Innovations in Health |url=https://www.engineering.columbia.edu/blavatnik-fund |access-date=2022-05-06 |website=Columbia Engineering |language=en}}{{cite news |last=Protess |first=Ben |date=May 5, 2011 |title=Warner Music Suitor's Record of Deal-Making |url=https://dealbook.nytimes.com/2011/05/05/warner-music-suitors-record-of-deal-making/ |archive-url=https://web.archive.org/web/20121001101858/https://dealbook.nytimes.com/2011/05/05/warner-music-suitors-record-of-deal-making/?nl=business&emc=dlbkpma1 |archive-date=October 1, 2012 |newspaper=The New York Times |url-status=unfit |access-date=April 2, 2022}}{{cbignore}}

In 1986, Blavatnik founded the holding company, Access Industries. The New York-based business{{cite news |last=nicolaou |first=anna |date=June 3, 2020 |title=Warner Music lands $1.9bn share sale for owner Len Blavatnik |url=https://www.ft.com/content/e1979389-6c35-4403-b1e9-6edd097e7372 |work=Financial Times |location=New York |access-date=April 2, 2022}} controls 21% of LyondellBasell, the world's largest producer of polypropylene. Through Access Industries, Blavatnik owns most of Warner Music Group and has stakes in several publicly traded assets.{{cite news |last=Reporting |first=Bloomberg |date=April 2, 2022 |title=Len Blavatnik |url=https://www.bloomberg.com/billionaires/profiles/leonard-blavatnik/ |work=Bloomberg |location=USA |access-date=April 2, 2022}}

After the collapse of the Soviet Union, Blavatnik bought up former state assets in Russia that were privatized by the government.{{Cite news |last=Ovide |first=Shira |date=May 6, 2011 |title=World's Newest Music Mogul: Who is Len Blavatnik? |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/BL-DLB-33193 |access-date=March 6, 2022 |issn=0099-9660}} Blavatnik began his business career by accumulating shares in aluminum smelters. He did this via his holding company, Access Industries. He has been described as a victor in Russia's "aluminum wars".{{Cite web |last=Friedman |first=Dan |title=A Soviet-born billionaire is buying influence at US institutions. Anti-corruption activists are worried. |url=https://www.motherjones.com/politics/2019/10/council-on-foreign-relations-leonard-blavatnik-russia/ |access-date=March 6, 2022 |website=Mother Jones |language=en-US}} Blavatnik made his wealth through the acquisition of these commodities.{{Cite news |last=Marlowe |first=Ann |date=December 5, 2018 |title=Opinion {{!}} Is Harvard Whitewashing a Russian Oligarch's Fortune? |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/12/05/opinion/harvard-russian-oligarch-whitewash.html |access-date=March 6, 2022 |issn=0362-4331}}{{Cite magazine |date=January 13, 2014 |title=The Billionaire's Playlist |url=http://www.newyorker.com/magazine/2014/01/20/the-billionaires-playlist |access-date=March 6, 2022 |magazine=The New Yorker |language=en-US}}

One of his investments, Sual, later became part of United Company Rusal, the world's largest aluminium producer.{{cite news |last=Merced |first=Michael |date=July 18, 2007 |title=Access Industries to Buy Lyondell Chemical |url=https://www.nytimes.com/2007/07/18/business/worldbusiness/18chemical.html |work=New York Times |location=USA |access-date=April 2, 2022}} Blavatnik was a board member of Rusal from 2007 to 2016. The company also invested in regional electricity generating stations, which it used to supply power to its energy-intensive aluminium businesses.{{cite news |last=Starobin |first=Paul |date=August 5, 2002 |title=Russia's New Wealth |url=https://www.bloomberg.com/news/articles/2002-08-04/russias-new-wealth |work=Businessweek |location=Moscow |access-date=April 2, 2022}} In a 2002 interview, Blavatnik told Bloomberg he was even considering creating his own railways. He and a friend from university, Viktor Vekselberg, formed the Renova investment vehicle.Yenikeyeff, Shamil, [http://www.oxfordenergy.org/wpcms/wp-content/uploads/2011/11/BP-Russian-billionaires-and-the-Kremlin.pdf "BP, Russian billionaires, and the Kremlin: a Power Triangle that never was"], Oxford Energy Comment, November 23, 2011; retrieved March 3, 2015.

Blavatnik and Vekselberg initially obtained a stake in the Irkutsk Aluminum Plant. They accumulated smelters and plants until their company Sual had become the second-largest aluminum firm in Russia. In 1996, they obtained a coal mine in Kazakhstan.

In 1997, Blavatnik Access Industries united with Viktor Vekselberg's Renova Corp and Mikhail Fridman's Alfa Group, to form a company AAR (Alfa, Access, Renova). Blavatnik's key role within the group was to act as a connection to western businesses such as British Petroleum. Fridman, who was very well-connected politically, had been a member of Boris Yeltsin's inner circle in the mid-1990s.{{cite news |last=Tavernise |first=Sabrina |date=February 19, 2003 |title=A Rocky Road Led to Big Russian Oil Deal |url=https://www.nytimes.com/2003/02/19/business/a-rocky-road-led-to-big-russian-oil-deal.html |work=New York Times |location=USA |access-date=April 2, 2022}}

The first order of business for AAR was to buy 40 per cent of a struggling oil producer Tyumen Oil (TNK), one of few remaining state-owned oil companies, for $800 million. Tyumen Oil was auctioned off with criteria that exactly matched the profile of AAR. AAR far outbid its competitors but reportedly paid just a quarter of the agreed sum. TNK then went on an acquisition spree, focusing on the oil company Sidanco, which was part-owned by the U.K. oil giant, British Petroleum (BP).{{cite news |last=Bannerjee |first=Neela |date=November 24, 1999 |title=International Business; Foreign Investors Win Court Order in Russian Oil Case |url=https://www.nytimes.com/1999/11/24/business/international-business-foreign-investors-win-court-order-in-russian-oil-case.html |work=New York Times |location=USA |access-date=February 2, 2022 |url-access=subscription}} In 1999, TNK acquired Sidanco's best assets via bankruptcy proceedings.

BP later sued TNK in New York courts, claiming that the Sidanco assets were acquired illegally. The 1999 lawsuit was resolved in 2003 when British Petroleum acquired TNK for $8 billion, forming TNK-BP, one of the largest oil companies in Russia. The deal, labelled in the press as "Russia's deal of the decade", gave BP unprecedented access to vital Russian oil and gas.{{cite news |last=Bush |first=Jason |date=April 19, 2007 |title=The Kremlin's Big Squeeze |url=https://www.bloomberg.com/news/articles/2007-04-19/the-kremlins-big-squeezebusinessweek-business-news-stock-market-and-financial-advice |work=Businessweek |location=USA |access-date=April 2, 2022}} It was the first time that a foreign company was in control of a major producer in Russia's energy heartland. The deal also made Len Blavatnik, Mikhail Fridman, German Khan and Viktor Vekselberg, who controlled half of TNK-BP, billions of dollars. At the time, Fridman told the press: "Any business should be sold if you're offered the right price. If you don't, the market will punish you. Or God. Or maybe they are the same thing." At the time of the purchase, Blavatnik, a U.S. citizen, was living in New York.{{cite news |last=Kramer |first=Andrew |date=July 25, 2005 |title=Denied Visa, Chief of BP Joint Venture Is Forced to Leave Russia |url=https://www.nytimes.com/2008/07/25/business/worldbusiness/25venture.html |work=New York Times |location=USA |access-date=April 2, 2022}}

In 2013, the Russian oil company Rosneft paid AAR $28 billion in cash for its 50% stake in TNK-BP. AAR's original investment had been $8 billion of assets. Up to that point, AAR had taken $19 billion in dividends from the joint venture.{{cite news |last=Weaver |first=Courtney |date=December 12, 2012 |title=Rosneft makes agreement with AAR |url=https://www.ft.com/content/4d2423fc-4464-11e2-952a-00144feabdc0 |archive-url=https://ghostarchive.org/archive/9QM75 |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=Moscow |access-date=April 2, 2022}} The sale represented the liquidation of the majority of Blavatnik's Russian assets.{{cite news |title=Harvard Med Gets Record Gift From Blavatnik to Speed Research |url=https://www.bloomberg.com/news/articles/2018-11-08/harvard-med-gets-record-gift-from-blavatnik-to-speed-research |work=Bloomberg |location=USA |first=Amanda L |last=Gordon|author2=John Lauerman |author3=Michael McDonald|date=November 8, 2018|access-date=April 2, 2022}}

In 1999, Blavatnik's TNK company obtained Chernogorneft at auction for at $180 million, even though the company had produced $1.2 billion worth of oil the year before. In 2022, Blavatnik sold his stake in Russian aluminum producer United Co. Rusal International PJSC, divesting his last major asset in the country, according to Bloomberg News.{{Cite news |date=2023-05-18 |title=Billionaire Len Blavatnik Unloads Last Major Russia Asset With Rusal Sale |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2023-05-18/billionaire-blavatnik-said-to-unload-last-major-russia-asset-with-rusal-sale |access-date=2023-11-24}}

In August 2005, Access Industries bought petrochemicals and plastics manufacturer Basell Polyolefins from Royal Dutch Shell and BASF for $5.7 billion. On December 20, 2007, Basell completed its acquisition of the Lyondell Chemical Company for an enterprise value of approximately $19 billion. The resulting company, LyondellBasell Industries then became the world's eighth largest chemical company based on net sales.{{cite web|url=http://cen.acs.org/articles/92/i30/CENs-Global-Top-50-Chemical.html|title=C&EN's Global Top 50 Chemical Firms For 2014|publisher=Chemical & Engineering News|access-date=August 20, 2014}} On January 6, 2009, the U.S. operations of LyondellBasell Industries filed for bankruptcy.{{cite news |title=LyondellBasell May Seek Chapter 11 Bankruptcy Protection |url=https://www.nytimes.com/2009/01/02/business/02chemical.html |access-date=March 21, 2022 |work=The New York Times |agency=Bloomberg |date=January 1, 2009 |archive-url=https://web.archive.org/web/20150224050200/http://www.nytimes.com/2009/01/02/business/02chemical.html?_r=1&sq=blavatnik&st=cse&scp=1&pagewanted=all |archive-date=February 24, 2015}}

On April 30, 2010, LyondellBasell emerged from Chapter 11 bankruptcy protection in a significantly improved financial position. As part of its exit financing, LyondellBasell raised $3.25 billion of first-priority debt, as well as $2.8 billion through the rights offering jointly underwritten by Access Industries, Apollo Management, and Ares Management.[https://www.reuters.com/article/idUSN3018504120100430 LyondellBasell profile]; accessed February 23, 2015. LyondellBasell stock has increased 103% in value since April 2010. Access currently{{When|date=December 2024}} owns approximately 21% of LyondellBasell.

In early 2010, Access Industries was reported as one of a handful of bidders for Metro-Goldwyn-Mayer.[https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0z_Wp9izMUM MGM bidding by Access Industries], bloomberg.com; accessed February 23, 2015. On May 6, 2011, Warner Music Group announced its sale to Access for US$3.3 billion.Wilkerson, David B., [http://www.marketwatch.com/story/warner-music-to-be-sold-in-33-billion-cash-deal-2011-05-06 "Warner Music to be sold in $3.3 billion cash deal"], MarketWatch, May 6, 2011; retrieved May 6, 2011. On July 20, 2011, an Access affiliate acquired Warner Music Group for $3.3 billion.{{Cite news|url=https://dealbook.nytimes.com/2011/05/06/warner-music-to-sell-itself-to-access-for-3-3-billion/|title=Warner Music Is Sold, Ending a Long Auction|last=Sisario|first=Michael J. de la Merced and Ben|work=DealBook|date=May 7, 2011 |access-date=May 6, 2018|language=en}}{{Cite web|title = Access Industries buys Warner Music Group for $3.3bn – Music Business Worldwide|url = http://www.musicbusinessworldwide.com/access-industries-buys-warner-music-group-for-3-3bn/|website = Music Business Worldwide|date = May 6, 2011|access-date = January 28, 2016|language = en-US}} Though WMG was the World's third largest record company{{cite news |last=Merced |first=Michael |date=May 6, 2011 |title=Warner Music Is Sold, Ending a Long Auction

|url=https://dealbook.nytimes.com/2011/05/06/warner-music-to-sell-itself-to-access-for-3-3-billion/ |work=Dealbook New York Times |location=New York |access-date=April 2, 2022}} and considered a "trophy asset", it was also laden down with debt{{cite news |last=Sisario |first=Ben |date=February 9, 2012 |title=Debt Sinks Warner Earnings, Despite Hits From Bublé and Black Keys |url=https://mediadecoder.blogs.nytimes.com/2012/02/09/debt-sinks-warner-earnings-despite-hits-from-buble-and-black-keys/ |work=The New York Times |location=USA |access-date=April 2, 2022}} and struggling to find an answer to online music piracy.{{cite news |last=Nicolaou |first=Anna |date=June 3, 2020 |title=Warner Music lands $1.9bn share sale for owner Len Blavatnik |url=https://www.ft.com/content/e1979389-6c35-4403-b1e9-6edd097e7372 |work=Financial Times |location=New York |access-date=April 2, 2022}}

In May 2020, Warner Music announced it would proceed with an initial public offering that valued the company at $13.3 billion.{{cite news |last=Sisario |first=Ben |date=May 26, 2020 |title=Warner Music Launches Its I.P.O. |url=https://www.nytimes.com/2020/05/26/business/media/warner-music-ipo.html |newspaper=The New York Times |location=USA |access-date=April 2, 2022}} The company listed on the Nasdaq stock exchange in June 2020. At which point, Blavatnik sold $1.9 billion of shares.

In 2012, Access Industries made a €100 million investment in Deezer, the music streaming service.{{cite news |last=Thomson |first=Adam |date=September 22, 2015 |title=Deezer takes fight to Spotify with Paris IPO |url=https://www.ft.com/content/bda497c0-60ee-11e5-9846-de406ccb37f2 |archive-url=https://ghostarchive.org/archive/LOdbN |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}}

In 2014, Access acquired Perform Group for £702 million. Its rivals included Germany's Sportsman Media Group and IMG of the U.S.{{cite news |last=Cookson |first=Robert |date=September 1, 2014 |title=Perform Group surges on offer from Access Industries |url=https://www.ft.com/content/01ca78ac-31b1-11e4-b377-00144feabdc0 |archive-url=https://ghostarchive.org/archive/HL5Ec |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}}

In 2016, Blavatnik launched Access Entertainment, which bought James Packer's stake in RatPac Entertainment and a 24.9% stake in Bad Wolf in 2017.{{Cite news|url=https://variety.com/2017/tv/global/len-blavatnik-danny-cohen-access-bad-wolf-1202016848/|title=Len Blavatnik, Danny Cohen's Access Entertainment Backs Bad Wolf (EXCLUSIVE)|last=Barraclough|first=Leo|date=March 27, 2017|work=Variety|access-date=May 6, 2018|language=en-US}}{{Cite news|url=https://www.businessinsider.com.au/james-packer-has-sold-his-stake-in-hollywood-film-company-ratpac-entertainment-2017-4|archive-url=https://web.archive.org/web/20170422062629/https://www.businessinsider.com.au/james-packer-has-sold-his-stake-in-hollywood-film-company-ratpac-entertainment-2017-4|url-status=dead|archive-date=April 22, 2017|title=James Packer has sold his stake in Hollywood film company RatPac Entertainment|last=Thomsen|first=Simon|date=April 20, 2017|work=Business Insider Australia|access-date=May 6, 2018|language=en}}

In 2017, Blavatnik was named as possible purchaser of the publisher Time Inc.. He prepared the bid with Edgar "Ed" Bronfman Jr, the former chief executive of Warner Music.{{cite news |last=Bond |first=Shannon |date=February 17, 2017 |title=Five suitors in the running for purchase of Time Inc |url=https://www.ft.com/content/be251c14-cd1e-34b8-85be-3ff4c81be987 |archive-url=https://ghostarchive.org/archive/rxTso |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}} In March 2017, Bronfman and Blavatnik walked away from the deal, citing valuation issues.{{cite news |last=Bond |first=Shannon |date=March 9, 2017 |title=Bronfman-backed group walks away from Time Inc |url=https://www.ft.com/content/9dc45ea0-046b-11e7-ace0-1ce02ef0def9 |archive-url=https://ghostarchive.org/archive/l3x8Z |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}}

In April 2018, it was reported that Blavatnik was a front runner in the bidding to purchase Britain's third oldest theatre, the Theatre Royal Haymarket. Sources reported that the bid was around £40 million.{{Cite news|url=https://news.sky.com/story/billionaire-blavatnik-leads-race-to-buy-prized-west-end-theatre-11348588|title=Billionaire Blavatnik leads race to buy prized West End theatre|work=Sky News|access-date=May 6, 2018|language=en-GB}} Blavatnik's Access Entertainment finalized its purchase of the Theatre Royal Haymarket in June 2018.{{cite web |last1=Brown |first1=Mark |title=Sir Leonard Blavatnik buys one of London's oldest theatres |url=https://www.theguardian.com/stage/2018/jun/19/sir-leonard-blavatnik-buys-one-of-londons-oldest-theatres |website=The Guardian |date=June 19, 2018 |access-date=October 4, 2021}}{{cite web |last1=Hershberg |first1=Marc |title=Billionaire Takes Over West End Theater In Record-Breaking Deal |url=https://www.forbes.com/sites/marchershberg/2018/06/19/len-blavatnik-takes-over-west-end-theater-in-record-breaking-deal/?sh=510062771761 |website=Forbes |access-date=October 4, 2021}}

Blavatnik also owns AI Film, the independent film and production company that backed Lee Daniels’ film The Butler and the summer 2015 release Mr. Holmes.{{Cite web|title = Blavatnik owns AI Film, the independent film and production company that's behind acclaimed film Lee Daniels' The Butler and the summer 2015 release Mr. Holmes.|url = http://www.businessinsider.in/meet-len-blavatnik-the-richest-man-in-britain/Blavatnik-owns-AI-Film-the-independent-film-and-production-company-thats-behind-acclaimed-film-Lee-Daniels-The-Butler-and-the-summer-2015-release-Mr-Holmes-/slideshow/47790832.cms?from=mdr|website = Business Insider|access-date = January 28, 2016}} He was an early investor in Rocket Internet and Beats Music, helped finance fashion designer Tory Burch, and, in 2013, paid $115 million for wireless spectrum in Norway.{{Cite web|title = Len Blavatnik|url = https://www.forbes.com/profile/len-blavatnik/|website = Forbes|access-date = January 28, 2016}}

Blavatnik has been the owner of DAZN Group since 2014, when Access Industries increased its stake in the company from 42.5% to 77%.{{Cite web|date=November 13, 2014|title=Perform Group to de-list as Access Industries takes over|url=https://www.sbcnews.co.uk/technology/2014/11/13/perform-group-to-de-list-as-access-industries-takes-over/|access-date=September 15, 2020|website=SBC News|language=en-US}}

DAZN (pronounced "da zone") has been described as the "Netflix of sports". The company is part of Perform Group, a U.K. based sports media company owned by Len Blavatnik's Access Industries.{{cite news |last=Agini |first=Samuel |date=February 18, 2022 |title=Len Blavatnik agrees $4.3bn recapitalisation of DAZN |url=https://www.ft.com/content/6cc8db53-d326-4ec0-b05a-d91358bf2212 |work= |location=UK |access-date=April 2, 2022}}

DAZN specialise in buying rights to broadcast sports including football, boxing and Formula 1 motor racing, outside of their domestic markets. The sports streaming service is available in Japan, Germany and Canada.

{{cite news |last=Hellier |first=David |date=February 18, 2022 |title=Len Blavatnik Agrees $4.3 Billion DAZN Recapitalization |url=https://www.bloomberg.com/news/articles/2022-02-18/billionaire-blavatnik-agrees-4-3-billion-recap-of-streamer-dazn |work=Bloomberg |location=UK |access-date=April 2, 2022}}

In May 2018, DAZN signed an eight-year, $1 billion deal with Eddie Hearn's Matchroom Boxing to stream fights on a new U.S. subscription service.{{cite news |last=Ahmed |first=Murad |date=October 17, 2018 |title=Blavatnik-backed DAZN strike $365m deal with boxer Canelo Alvarez |url=https://www.ft.com/content/38fa99fc-d206-11e8-a9f2-7574db66bcd5 |archive-url=https://ghostarchive.org/archive/l52n0 |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}}

In June 2018, DAZN paid €600 million for domestic screening rights for Italian Serie A football matches in a three-year deal.{{cite news |last=Ahmed |first=Murad |date=June 13, 2018 |title=DAZN to screen Italian football's top league |url=https://www.ft.com/content/07d375ee-6ee5-11e8-92d3-6c13e5c92914 |archive-url=https://ghostarchive.org/archive/AIy27 |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}} The deal was believed to involve 2.5 billion euros ($3 billion) of payments over its three-season lifespan

{{cite news |last=Hellier |first=David |date=March 21, 2021 |title=Tycoon's 'Netflix of Sport' Beats Comcast to $3 Billion Deal |url=https://www.bloomberg.com/news/articles/2021-03-26/tycoon-s-netflix-of-sports-beats-sky-to-3-billion-trophy-deal |work=Bloomberg |location=UK |access-date=April 2, 2022}}

In October 2018, DAZN signed the largest commercial deal in history with a single athlete when they paid Mexican boxer Saul "Canelo" Alvarez $365 million for the rights to screen 11 fights.

DAZN's last set of published results, for the year to 2019, showed a loss of more than $1.3 billion for continuing and discontinued operations. The company, which is dependent on subscriptions, saw revenue take a hit when the COVID-19 pandemic brought an abrupt halt to live sports. Shortly after the outbreak of the pandemic, DAZN was forced to tell European football leagues that it would not pay for games that had been put on hold.{{cite news |last=Novy-Williams |first=Eben |date=March 31, 2020 |title=DAZN Tells Leagues It Won't Pay for Games on Hold |url=https://www.bloomberg.com/news/articles/2020-03-31/dazn-is-said-to-tell-leagues-it-won-t-pay-for-games-on-hold |work=Bloomberg |location=UK |access-date=April 2, 2022}} Chief Executive Officer Simon Denyer explained: "With revenues dropping and investment not available, we can only survive by making some hard decisions."

In late 2020, DAZN unveiled a slate of original documentary programming featuring global sporting icons such as Ronaldo and British boxer Anthony Joshua.

In February 2022, Blavatnik agreed a $4.3 billion recapitalisation of DAZN. The Financial Times reported that this would enable the company to target new revenue streams in betting.{{cite news |last=Agini |first=Samuel |date=February 18, 2022 |title=Len Blavatnik agrees $4.3bn recapitalisation of DAZN |url=https://www.ft.com/content/6cc8db53-d326-4ec0-b05a-d91358bf2212 |work=Financial Times |location=UK |access-date=April 2, 2022}}

Access Industries purchased the mobile phone technology company Acision from the IT Group Logica for £265 million in 2007.{{cite news |last=Ashton |first=James |date=February 21, 2010 |title=Billionaire Len Blavatnik eyes £400m float |url=https://www.thetimes.com/article/billionaire-len-blavatnik-eyes-pound400m-float-7gm39g73cn0 |work=TheTimes |location=UK |access-date=April 2, 2022}} As of 2018, Access Industries owned 60% of Ice Group, Norway's third largest telecoms company.{{cite news |last=Fildes |first=Nic |date=November 26, 2018 |title=One of Europe's fastest-growing telecoms companies aims to raise £275m |url=https://www.ft.com/content/9b4e961e-eda7-11e8-8180-9cf212677a57 |archive-url=https://ghostarchive.org/archive/CArlp |archive-date=December 11, 2022 |url-access=subscription |url-status=live |work=Financial Times |location=UK |access-date=April 2, 2022}}

Blavatnik founded the Blavatnik Archive in 2005 to support primary source-based scholarship and education by preserving and disseminating materials that contribute to the study of 20th century Jewish and world history.{{cite web |title=Blavatnik Archive |url=https://www.blavatnikarchive.org |website=Blavatnikarchive.com}}{{cite news |last1=Teicholz |first1=Tom |date=14 June 2014 |title=Jewish Heroes of the Great Patriotic War |url=https://jewishjournal.com/uncategorized/214572/jewish-heroes-of-the-great-patriotic-war/ |publisher=The Jewish Journal}}

Blavatnik was a member of a WhatsApp group chat that existed from November 2023 until early May 2024 involving some of the United States' most powerful business leaders with the stated goals of "chang[ing] the narrative" in favor of Israel and "help[ing] win the war" on U.S. public opinion following Hamas's October 7th attack on Israel.{{cite news |last1=Natanson |first1=Hannah |last2=Felton |first2=Emmanuel |date=May 16, 2024 |title=Business titans privately urged NYC mayor to use police on Columbia protesters, chats show |url=https://www.washingtonpost.com/nation/2024/05/16/business-leaders-chat-group-eric-adams-columbia-protesters/ |access-date=May 17, 2024 |newspaper=Washington Post}} Members of the group chat discussed how they received private briefings by, and worked closely with, members of the Israeli government. Blavatnik and other members also participated in a video call in April 2024 with New York City Mayor, Eric Adams in an effort to, according to reporting by The Washington Post, "pressure Columbia’s president and trustees to permit the mayor to send police to the campus". They also discussed making political donations to Adams; Blavatnik himself solicited donations from others in the group. Blavatnik's spokesperson told the Washington Post that he donated $2,100 to Adams's campaign in April 2024.

In 2010, Blavatnik sued JPMorgan Chase after losing $100 million by allegedly following Morgan's advice three years earlier to buy mortgage securities with AAA credit ratings.[https://www.nytimes.com/2010/09/25/business/25nocera.html?_r=1&hp Lawsuit against JPMorgan Chase], nytimes.com; accessed February 23, 2015. In 2013, the New York State Supreme Court ordered JPMorgan Chase to pay Blavatnik $50 million in damages.[https://www.bbc.co.uk/news/business-23845347 JPMorgan Chase ordered to pay Blavatnik $50 million in damages], bbc.co.uk; accessed February 23, 2015.{{cite news |last=Braithwaite |first=Tom |date=August 26, 2013 |title=Len Blavatnik wins $50m in JPMorgan lawsuit |url=https://www.ft.com/content/b791bd58-0e85-11e3-bfc8-00144feabdc0 |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/14LGM |archive-date=December 11, 2022 |access-date=April 2, 2022 |work=Financial Times |location=New York}}

At the time, Blavatnik told The New York Times: "The small guy can't get anywhere with suits like this. I am a wealthy man. I will spend whatever it takes."

In the wake of sanctions targeting Russian oligarchs during the Russo-Ukrainian War, media attention debated Blavatnik's status as a Russian oligarch, and his corresponding connection to Vladimir Putin. Some outlets have suggested Blavatnik has been involved in reputation laundering through his philanthropic projects, and that he maintains close connections to Viktor Vekselberg, an oligarch sanctioned by the US government.{{Cite web |last=Chapman |first=Majlie de Puy Kamp,Isabelle |date=2022-05-11 |title='It's shameful': Russian-linked billionaires have given enormous sums to the West's leading educational and cultural institutions |url=https://www.cnn.com/2022/05/11/us/russian-oligarchs-philanthropy-ukraine-war-invs/index.html |access-date=2024-09-17 |website=CNN |language=en}}{{Cite web |last=Balbi |first=Danielle |date=3 June 2022 |title=Inside a Billionaire's Decades-Long Campaign to Sever His Fortune's Russian Roots |url=https://www.bloomberg.com/news/newsletters/2022-06-03/the-big-take-how-billionaire-len-blavatnik-cut-russia-out-of-his-fortune |access-date=2024-09-17 |website=www.bloomberg.com}}{{Cite web |last1=Kashinsky |first1=Lisa |last2=Murray |first2=Stephanie |date=11 March 2022 |title=The megadonor with Russian allies campaigns don't talk about |url=https://www.politico.com/news/2022/03/11/why-campaigns-arent-dumping-a-billionaire-with-russian-friends-00016499 |website=Politico}} Blavatnik denies connections to Putin, and has attempted to avoid the label of oligarch. In December 2023, Ukraine's President Volodymyr Zelensky imposed personal sanctions against Blavatnik.{{Cite web |title=Ukrainian president sanctions 134 companies, 51 individuals as war continues |url=https://www.aa.com.tr/en/europe/ukrainian-president-sanctions-134-companies-51-individuals-as-war-continues/3090805 |access-date=2024-06-13 |website=www.aa.com.tr}}{{Cite web |date=December 23, 2023 |title=УКАЗ ПРЕЗИДЕНТА УКРАЇНИ №851/2023 |url=https://www.president.gov.ua/documents/8512023-49337 |website=The Presidential Office of Ukraine}}

In 2024, protests were held outside the Tate Modern art gallery after Blavatnik was alleged to have been involved in cancelling a news program critical of Israeli Prime Minister Netanyahu.{{Cite web |title=Protests at Tate Modern after billionaire Blavatnik 'cancelled news show for Netanyahu' |url=https://www.middleeasteye.net/news/uk-billionaire-art-patron-len-blavatnik-cancelled-news-show-netanyahu |access-date=2025-04-26 |website=Middle East Eye |language=en}}{{Cite web |title=Israelis in London protest against Channel 13 owner Len Blavatnik at the Tate Modern |url=https://www.timesofisrael.com/liveblog_entry/israelis-in-london-protest-against-channel-13-owner-len-blavatnik-at-the-tate-modern/ |access-date=2025-04-26 |website=www.timesofisrael.com |language=en-US}}

File:Reuven Rivlin hosting young scientists who have been awarded the Blavatnik Awards for Young Scientists, February 2018 (4568).jpg with young scientists who have been awarded the Blavatnik Awards for Young Scientists, February 2018]]

File:Blavatnik School of Government (24501872420).jpg, Oxford]]

Blavatnik made his initial fortune, alongside other Russian oligarchs, in the privatization of state-owned aluminum and oil assets after the collapse of the Soviet Union.

As of April 2025, Forbes estimated his net worth at $26.5 billion, ranking him the 75th-richest person in the world.

In 2011, Blavatnik donated to both US President Barack Obama and his Republican Party rival, former Massachusetts governor Mitt Romney."[https://abcnews.go.com/Politics/investigators-follow-flow-money-trump-wealthy-donors-russian/story?id=50100024 Special counsel probing flow of Russian-American money to Trump political funds]". ABC News. September 26, 2017.

Blavatnik, who is closely associated with Russian oligarchs such as Viktor Vekselberg and Oleg Deripaska, is one of the largest donors to the Republican Party and, in 2015–2016, donated a total of $7.35 million to six Republican political candidates, including South Carolina Senator Lindsey Graham, Florida Senator Marco Rubio and Arizona Senator John McCain.{{cite news |last=May |first=Ruth |url=https://www.dallasnews.com/opinion/commentary/2018/05/08/how-putin-s-oligarchs-funneled-millions-into-gop-campaigns/ |title=How Putin's oligarchs funneled millions into GOP campaigns: Campaign finance reports show troubling connections between a group of wealthy donors with ties to Russia and their political contributions to Trump and top Republican leaders |work=Dallas News |date=May 8, 2018 |access-date=January 21, 2021}}{{cite news |last=May |first=Ruth |url=https://www.dallasnews.com/opinion/commentary/2018/05/18/the-simple-explanation-of-the-messy-russian-investigation-is-one-man-s-ego/ |title=The simple explanation of the messy Russian investigation is one man's ego: Vladimir Putin is an egotistical leader who has money, power, and a deep desire to protect his wealth by projecting his power. |work=Dallas News |date=May 18, 2018 |access-date=January 21, 2021}} In February 2016, Blavatnik donated over $1 million to an anti-Donald Trump GOP group.{{cite web|url=https://www.musicbusinessworldwide.com/warner-owner-len-blavatnik-pumps-1m-into-anti-donald-trump-group/ |title=Warner owner Len Blavatnik pumps $1m into anti-Donald Trump group|website=Music Business Worldwide|first=Tim|last=Ingham|date= March 22, 2016}} He also donated $1 million to the committee for the 2017 inauguration of Donald Trump.{{cite web|last1=May|first1=Ruth|title=GOP campaigns took $7.35 million from oligarch linked to Russia|url=https://www.dallasnews.com/opinion/commentary/2017/08/03/tangled-web-connects-russian-oligarch-money-gop-campaigns|website=Dallas News|date=August 3, 2017|access-date=August 28, 2017}} In August 2017, political scientist Bo Rothstein resigned from the Blavatnik School of Government out of opposition to Blavatnik's politics.{{cite news|last1=Weaver|first1=Matthew|title=Oxford University professor resigns in Donald Trump protest |url=https://www.theguardian.com/education/2017/aug/28/oxford-university-professor-bo-rothstein-resigns-donald-trump-protest|access-date=August 28, 2017|work=The Guardian|date=August 28, 2017}}

Blavatnik and his American wife, Emily, also donated to Democratic Party candidates Kamala Harris, Chuck Schumer, and Hillary Clinton.{{cite web|url=https://www.politico.com/magazine/story/2016/07/democratic-national-convention-2016-russiasn-214123 |title=The Russians at the DNC|website=Politico|first=Julia |last=Ioffe|date=July 29, 2016}}

In 2017 two senior Trump administration officials went on record as being lobbyists for Blavatnik's Access Industries.{{Cite news|url=https://www.vice.com/en/article/two-top-trump-officials-are-ex-lobbyists-for-a-billionaire-with-deep-ties-to-russian-oligarchs/|title=Exclusive: Two top Trump officials are ex-lobbyists for a billionaire with deep ties to Russian oligarchs|work=VICE News|first=Greg|last= Walters|access-date=May 6, 2018|language=en}}

Since April 2016, Blavatnik has contributed $383,000 to the Republican National Committee and $1 million to Trump's inauguration fund. These donations included $12,000 directed to Trump's legal fund. However, he did not give directly to the Trump 2016 presidential campaign.{{Cite web|url=https://abcnews.go.com/Politics/investigators-follow-flow-money-trump-wealthy-donors-russian/story?id=50100024|title=Special counsel probing flow of Russian-American money to Trump political funds|date=February 20, 2018|author=Brian Ross and Matthew Mosk|work=ABC News|language=en|access-date=May 6, 2018}} Between 2015 and 2017, Blavatnik contributed $3.5 million to Republican Senate Leader Mitch McConnell's super PAC.{{Cite magazine|url=https://newrepublic.com/article/153275/mitch-mcconnell-profile-nihilist-chief|title=Nihilist In Chief|last=Pareene|first=Alex|date=March 21, 2019|magazine=The New Republic|access-date=May 23, 2019|issn=0028-6583}}

Blavatnik donated $5,200 to the Pete Buttigieg 2020 presidential campaign and $5,600 to the Joe Biden 2020 presidential campaign.{{Cite web|url=https://www.snopes.com/fact-check/buttigieg-campaign-donation/|title=Did a 'Russian-Linked Oligarch' Fund Pete Buttigieg's Presidential Campaign?|last=PALMA|first=BETHANIA|date=February 12, 2020|access-date=February 23, 2020|website=snopes.com}}

Blavatnik has been described by the Financial Times as "one of the world's most generous philanthropists"{{cite news |last=Foy |first=Henry |date= |title=From Russian oil to rock'n'roll: the rise of Len Blavatnik |url=https://www.ft.com/content/c1889f48-871a-11e9-a028-86cea8523dc2 |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/gK9Kw |archive-date=December 11, 2022 |access-date=April 2, 2022 |work=Financial Times |location=UK}} and by The Times as "Britain's arts philanthropist-in-chief".{{cite news |last=Sanderson |first=David |date=December 16, 2020 |title=Sir Leonard Blavatnik's art of giving away a fortune |url=https://www.thetimes.co.uk/article/sir-leonard-blavatniks-art-of-giving-away-a-fortune-3388nfxcm |access-date=April 2, 2022 |work=The Times |location=UK}}

Educational institutions supported by Blavatnik have included Yale University,{{cite news |last1=Di Mento |first1=Maria |date=11 September 2023 |title=Financier Len Blavatnik Gives Yale $40 Million to Develop New Health Technologies |url=https://www.philanthropy.com/article/financier-len-blavatnik-gives-yale-40-million-to-develop-new-health-technologies |publisher=The Chronicle of Philanthropy}} Harvard University,{{cite news |last=Bradshaw |first=Della |date=May 3, 2013 |title=Harvard University receives $50m from MBA alumnus Len Blavatnik |url=https://www.ft.com/content/b9b08a60-b3d1-11e2-ace9-00144feabdc0 |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/WSDJq |archive-date=December 11, 2022 |access-date=April 2, 2022 |work=Financial Times |location=UK}} and Oxford University.{{Cite web |last=Garner |first=Richard |date=September 20, 2010 |title=Oxford expands with billionaire's £75m gift |url=http://www.independent.co.uk/news/education/education-news/oxford-expands-with-billionaires-16375m-gift-2083859.html |access-date=November 13, 2020 |website=The Independent |language=en}} In 2011, Blavatnik donated more than £50 million to the Tate Modern gallery in London – the largest donation in the gallery's history. In 2017, the gallery named its new extension the Blavatnik Building.{{cite news |last=Pickford |first=James |date=May 4, 2017 |title=Tate Modern names extension to mark donor's record £50m gift |url=https://www.ft.com/content/7eca48d6-30ec-11e7-9555-23ef563ecf9a |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/dEwFn |archive-date=December 11, 2022 |access-date=April 2, 2022 |work=Financial Times |location=UK}}

His donations have faced criticism, such as from journalist Ann Marlowe, who have described them as influence-buying and whitewashing, although some have disagreed that the donations deserve criticism.

Blavatnik is a member of the Board of Trustees at Carnegie Hall,{{cite web |title=Board of Trustees {{!}} Carnegie Hall |url=https://www.carnegiehall.org/About/Leadership-and-Staff/Board-of-Trustees |website=Carnegie Hall}} a member of the Board of Directors at 92NY{{cite web |title=Our Team |url=https://www.92ny.org/about-us/who-we-are |website=92NY}} and a member of the Board of Directors at the Center for Jewish History.{{cite web |title=The Center's Board of Directors |url=https://www.cjh.org/about/leadership |website=Center for Jewish History}} He is also a member of the Harvard Medical School Board of Fellows,{{Cite web |title=Board of Fellows {{!}} Harvard Medical School |url=https://hms.harvard.edu/about-hms/leadership/board-fellows |access-date=September 26, 2019 |website=hms.harvard.edu}} a member of the Council on Foreign Relations{{cite web |title=Membership Roster |url=https://www.cfr.org/membership/roster |website=Council on Foreign Relations}} and a member of the Board of Governors at Tel Aviv University.{{cite web |title=Tel Aviv University Governors Roll |url=https://bog.tau.ac.il/bog_governors_roll |website=Tel Aviv University Board of Governors}}

In 2013, Blavatnik was made chevalier of the French Legion d'Honneur.{{Cite web|url=https://www.cfr.org/blavatnik-internship-program|title=Blavatnik Internship Program|website=Council on Foreign Relations|language=en|access-date=October 4, 2019}}

He was knighted by Queen Elizabeth II in the 2017 Birthday Honours for services to philanthropy.{{London Gazette|issue=61962|supp=y|page=B2|date=June 17, 2017}}{{Cite web|url=https://www.theartnewspaper.com/news/queens-birthday-honours-ukrainian-born-museum-donor-leonard-blavatnik-is-made-a-knight|title=Queen's birthday honours: Ukrainian-born museum donor Leonard Blavatnik is made a knight|date=June 20, 2017}}

Blavatnik is married to Emily Appelson Blavatnik.[http://www.nydailynews.com/entertainment/gossip/filipino-housekeeper-claims-leonard-blavatnik-won-hire-ethnicity-article-1.980530 "Filipino housekeeper claims Leonard Blavatnik won't hire her because of her ethnicity – Virginia Lim files discrimination suit in U.S."], nydailynews.com, November 21, 2011. The couple have four children.{{cite magazine |last1=Colacello |first1=Bob |title=Inside Paris's 25th Annual le Bal des Débutantes |url=https://www.vanityfair.com/style/2018/01/le-bal-des-debutantes-paris |magazine=Vanity Fair|date=January 9, 2018 }}{{Cite web|url=https://www.journaldesfemmes.fr/people/evenements/2418380-bal-debutantes-2018-photos/2418430-elizabeth-starling-louis-julia-mccaw-et-laila-blavatnik|title=Elizabeth Starling Louis, Julia McCaw et Laila Blavatnik|website=www.journaldesfemmes.fr|date=November 27, 2018 |language=fr|access-date=November 23, 2019}}

He owns a Grade II listed building on "the most expensive street in the world", Kensington Palace Gardens (number 15), which is valued at £200 million. He acquired the property in 2004. Other residents on the street include Israeli and Russian ambassadors.Clementine, Katherine. [http://www.getwestlondon.co.uk/news/west-london-news/rich-list-2015-kensington-property-9157406 " Rich List 2015: Kensington property owner Len Blavatnik top with £13.17 BILLION fortune "], Get West London, May 1, 2015. Accessed May 28, 2015 He also has a residence in Manhattan valued at more than $250 million.{{cite news| title =The Meteoric Rise of Billionaire Len Blavatnik |first=Devon |last=Pendleton|publisher =Bloomberg | url =https://www.bloomberg.com/news/features/2019-04-26/the-meteoric-rise-of-billionaire-len-blavatnik|date= April 26, 2019}}

Blavatnik was also a longtime friend and former business partner{{Cite news |last=Pendleton |first=Devon |date=June 2, 2022 |title='Most Clever Oligarch' Severed His $37 Billion Fortune From Russian Roots |url=https://www.bloomberg.com/news/features/2022-06-03/len-blavatnik-net-worth-quiet-billionaire-separates-fortune-from-russian-money?leadSource=uverify%20wall |work=Bloomberg}} of Ukrainian-born Russian oligarch Viktor Vekselberg.

Blavatnik holds British and American citizenship.{{Cite web|url=https://yaledailynews.com/blog/2022/03/15/criticism-sparks-over-russia-linked-billionaire-yale-donor/|title = Criticism sparks over Russia-linked billionaire Yale donor|first=William|last= Porayouw|website=Yale Daily News|date = March 15, 2022}}{{cite web|url=https://www.forbes.com/profile/len-blavatnik/|title= Len Blavatnik|work=forbes.com|access-date=April 24, 2025}}

• Kensington Palace Gardens
• Sunday Times Rich List 2017

;Notes

{{Notelist}}

;References

{{Reflist}}

• [https://www.forbes.com/profile/len-blavatnik/?sh=5c71ad5256f3 Len Blavatnik] - Forbes profile
• [http://www.lyondellbasell.com LyondellBasell Corporate Website]
• [http://www.nyas.org/blavatnikawards The New York Academy of Sciences' Blavatnik Awards for Young Scientists]

{{Privatization in Russia}}

{{Authority control}}

{{DEFAULTSORT:Blavatnik, Leonard}}

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