Alexander Rovt

About Alexander Rovt

Birth Year: 1952
Birth Place: New York, New York, United States
Education: Doctorate Lviv Academy of Commerce
Spouse(s): Olga Rovt
Children: Philip Rovt Maxwell Rovt

Alexander Rovt Net Worth

Alexander Rovt was bornon 1952 in New York, New York, United States. Fertilizer tycoon Alexander Rovt has been pouring his money into real estate and owns more than 30 investment properties, mostly apartment buildings in New York City. His IBE Trade trades ammonium-based fertilizer. Rovt grew up poor in Carpathia, a contested former Soviet territory, and attended the prestigious Lvov State University of Trade and Economics in the Ukraine. He holds a Ph.D in international economics. He managed a high-end Hungarian resort in the U.S.S.R. before emigrating to New York, where he first ran a deli and then sold jewelry. He says he has never invested money in a stock or bond, preferring hard assets like housing.
Alexander Rovt is a member of Manufacturing

💰 Net worth: $1.29 Billion (Updated at 22 June 2018)

2009 $1.2 Billion
2010 $1.7 Billion
2011 $1.15 Billion
2012 $1.15 Billion
2013 $1.2 Billion
2014 $1.1 Billion
2015 $1.2 Billion
2016 $1.3 Billion
2017 $1.3 Billion
2018 $1.29 Billion

Some Alexander Rovt images

Biography/Timeline

1985

Rovt was born to an observant Jewish family in Mukachevo, Carpathia which is now part of the Ukraine. His Father was a manager at a knitting factory and his mother a housewife. He grew up across the nearby border in Hungary and then attended the Lviv Academy of Commerce in the Ukraine where he graduated with a degree in Business and later received a PhD in international economics. After school, he worked as a manager for the state-owned vegetable distributor in Hungary but was soon arrested due to his capitalistic Business tendencies; in 1985, he fled to the United States with his wife and settled in Brooklyn where he worked in his uncle’s kosher deli and at a cousin’s jewelry store.

1988

In 1988, Rovt took a job at IBE Trade which was founded by Sheldon Silverston. IBE made a profit by selling goods to governments that were not in favor with the international community and as a result, did not have ready access to hard currency. IBE was paid in hard commodities rather than cash (e.g. steel, coffee). Thanks to Rovt’s connections in the Eastern bloc and understanding of the fertilizer Business thanks to his involvement at the vegetable distributor, IBE expanded it operations to the Soviet Union supplying goods in exchange for fertilizer, something the Soviets had in abundance thanks to ample natural gas supplies, a primary input to the manufacture of fertilizer. Once Perestroika took hold, the barter Business diminished and Rovt (along with his childhood friend and co-worker at IBE, Imre Pakh) bought IBE from Silverston and transitioned the company into a traditional fertilizer distributor eventually controlling 85-90% of the fertilizer trade in Russia and the Ukraine by 2000.

1999

In 1999, Rovt purchased a deteriorating fertilizer plant in Bulgaria on the condition that he spend $100 million over five years on renovations. The company was losing money due to high natural gas prices which were then trading at market prices. Rovt sold a 25% stake in the company to the Energy Billionaire Igor Makarov from Turkmenistan who agreed to supply the plant with natural gas at discounted price. He also sold 10% to local Bulgarian partners. Unbeknownst to him, his Bulgarian partners were able to seize control of the facility by transferring ownership of the plant to an offshore company in Cyprus. His friend and partner Pakh sold his interest in IBE to Rovt after one of his Bulgarian partners was murdered. Rovt sued in the US to recover his plant and received a favorable decision but the judgment was not honored in Bulgaria.

2000

Despite his unfavorable foray into fertilizer plant ownership in Bulgaria, he purchased several more fertilizer plants in the 2000s which both became very lucrative Investments. The first was in Rossosh, Russia in partnership with Igor Olshansky, the son of a member of the Duma (in whose district the plant was located) and the Norwegian agricultural company Yara International. In 2004, IBE purchased a plant in Severodonetsk, Ukraine in return for an investment commitment of $120 million. In 2005, after the Orange Revolution, a court voided the sale; Rovt, with the assistance of the US government, was eventually able to have the decision reversed and the plant is operating profitably with the consent of the Ukrainian government.

2007

In 2007, wanting to secure his wealth, he purchased the Bankers Trust Building from Joshua Zamir for $303 million in cash and sold his remaining overseas fertilizer assets to Ukrainian Billionaire Dmitry Firtash. He now has a portfolio of 280 buildings mostly in New York City.

2015

http://uzhgorod.in/en/news/2015/fevral/mini_monument_to_michael_strank_was_opened_in_uzhgorod_photos_video

2019

He lives on Manhattan’s Upper East Side with his wife Olga in a five-story, 12,000-square-foot building constructed out of reinforced concrete with brick facing and retractable bulletproof shades covering the windows. He has two children: Philip (born 1978) and Maxwell (born 1987).