Alexander Svetakov is a successful businessman who has achieved impressive results through hard work and dedication. He started from nothing and has since become a prominent figure in various industries.
Initially, his focus was on making money, but now his primary interest lies in charitable activities, which he believes can be profitable with smart management.
In this article, we will discuss the key stages of Alexander Svetakov’s biography and explore the principles behind his business approach.
Rise to Success
When Alexander Svetakov was young, there was nothing in his biography that suggested he would become successful. His family was not wealthy or influential, and he did not inherit any money or attend a prestigious business school. Instead, he studied physics and worked in that field for a while. However, thanks to his analytical mind, he saw opportunities in the retail industry and decided to pursue a career in that area.
Alexander Svetakov and his friends often traveled to Singapore to purchase gadgets. Upon returning to their home country, they sold those imported goods at a higher price. That was physically demanding work, as the importers had to carry the electronics in their hands using large bags. Despite the challenges, the demand for these gadgets was high, and the entrepreneurs generated a significant income.
The digital age was just beginning, and personal computers were still considered a luxury. However, simple and affordable calculators were essential for everyday use in trade.
Thanks to the businessman’s diligence and persistence, his company soon became a leader in its industry. With the accumulated capital, he had the freedom to choose which industries to expand into next.
The Absolut Group’s Evolution
Soon, Svetakov’s name became synonymous with the Absolut Group. The company was founded in 1990 with the goal of trading commodities. However, over time, it has shifted its focus to managing assets and completing development projects, which is now the primary focus of the company.
The group included a bank of the same name, which belonged to Alexander Svetakov from its inception in 1993 until 2007. At a crucial moment, the entrepreneur sold this asset to a European buyer. Had he been a few months later with signing the contract, the deal might never have taken place due to the international financial crisis.
Soon, news spread about Alexander Svetakov’s attempts in two new areas, real estate and agriculture. He has managed to achieve impressive results in both.
Smart Approach to Charity
As a socially responsible billionaire, Alexander Svetakov invests large amounts of money in charitable causes. His approach to these activities is somewhat different from what is traditionally expected in his home country.
Traditionally, philanthropy has been seen as a one-way relationship, where wealthy individuals transfer funds to good causes, while the recipients spend the money and report back to the sponsors. However, this is not the only way to approach charity.
The entrepreneur researched the best international practices. He discovered that some charity organizations can generate profit from certain services. Those who are unable to afford the costs should still be able to receive free assistance. At the same time, some clients may be willing to pay for premium services — and they should be given this opportunity.
In addition, charitable organizations can sell merchandise — branded totes, T-shirts, water bottles, and more. Many people would be happy to contribute to social projects if it only costs them a small amount.
The Absolut Help Charity Foundation plays a significant role in the biography of Alexander Svetakov. It was founded in 2002 and has since then been working hard to raise funds and provide assistance to those in need. Moreover, the foundation’s staff teaches the leaders of various charities how to become more self-sufficient and efficient.
The entrepreneur is committed to improving the lives of people and pets. Owing to his efforts, a correctional boarding school for children with special needs has been built. Orphanages and hospitals receive regular financial support. During the pandemic, the businessman invested significant resources in making remote learning available to schoolchildren. He also established a complex for pets, which includes a hotel, shelter, and veterinary clinic.
Collecting and Promoting Art
As a businessman, Alexander Svetakov deals with numbers, contracts, and negotiations on a daily basis. However, in his free time, he also enjoys collecting art. His personal collection includes a lot of works by artists from his home country.
The V-A-C Foundation was founded by Svetakov with the aim of promoting art and fostering cultural exchange. The foundation hosts exhibitions both in its home country and abroad, and it also works to enhance mutual understanding between artists and the public.
