| Name: | Cyril Minovalov |
| Net Worth: | $1.2 billion |
| Source of Wealth: | Avangard Bank |
| Born: | April 22, 1971 |
| Country: | Russia |
| Wife: | Mrs Minovalov |
| Children: | Unknown |
| Residence: | Moscow |
| Private Jet: | (N500AN) Gulfstream G500, (D-BLDI) Cessna 750 Citation X |
| Yacht: | Avangard II |
Kirill Vadimovich Minovalov, sometimes written in English as Cyril Minovalov, is a Russian billionaire businessman, banker, agricultural investor, and yacht owner. Born in Moscow on April 22, 1971, he is best known as the founder, president, and main shareholder of Bank Avangard.
Minovalov founded Avangard Bank in 1994 and built it into a significant Russian banking group with activities in corporate banking, retail banking, card services, insurance, agriculture, malt production, and related investments.
He is also associated with Avangard-Agro, one of Russia’s large agricultural producers, and Avangard Malz, a German malting business. His estimated net worth is around $1.2 billion.
Kirill Minovalov was born in Moscow in 1971. He studied at the Moscow Institute of Railway Transport Engineers, also known as MIIT, where he specialized in systems engineering and graduated in 1993.
His technical education gave him a strong systems and analytical background. Like many Russian entrepreneurs of his generation, he entered business during the early 1990s, a period of rapid economic reform and privatization in Russia.
From 1991 to 1994, Minovalov led Alcor, a consulting firm he founded. In 1994, he founded Bank Avangard, which became the central business in his wider group.
Bank Avangard was founded by Kirill Minovalov in 1994. Forbes has reported that he started the bank with around $400,000, about one-third of which was borrowed.
The bank developed into a Russian commercial bank serving both corporate and individual clients. It became known for corporate settlement services, credit cards, internet banking, trade finance, retail services, and regional operations.
Older company profiles described Avangard Bank as operating around 300 offices in more than 50 Russian regions and employing approximately 3,500 people. The bank’s physical network and staffing have changed over time as Russian banking has shifted toward digital services, but Avangard remains closely associated with Minovalov’s business empire.
Kirill Minovalov is the main shareholder and long-time president of Avangard Bank. He has also been listed as chairman or head of several related companies, including Avangard-Garant Insurance Group and Avangard-Agro.
In 2018, Russia’s Central Bank temporarily limited Minovalov’s voting rights after saying that he had acquired a small additional stake in the bank with procedural violations. The regulator later cancelled the order after the issue was corrected. Bank representatives described the matter as a formality.
This episode is a reminder that Russian banking is a highly regulated sector and that ownership changes can attract close scrutiny from the Central Bank.
Avangard-Agro is one of Kirill Minovalov’s most important non-banking businesses. The company is active in agriculture, grain production, industrial crops, malting barley, and related agribusiness.
Avangard-Agro operates across several Russian regions and manages large agricultural land holdings. Its subsidiaries have been involved in crop production, storage, and supply to malt and food-processing markets.
The company has published financial statements in recent years, including consolidated reports for 2021, 2022, and 2023. Its business is closely connected to Minovalov’s malt and brewing-industry investments because malting barley is a key input for beer production.
Minovalov’s portfolio also includes the malt industry. He owns or has controlled Russian Malt and Avangard Malz, a German malting business.
In 2006, Minovalov acquired assets in the German malt industry and created Avangard Malz. The business became one of Germany’s significant malting companies, supplying malt to brewers and food producers.
His malt business links banking, agriculture, and manufacturing in a vertically connected structure: Avangard-Agro produces barley, malt companies process it, and customers in the brewing and food industries buy the finished malt.
Minovalov has also been associated with Omsk Glassworks, a glass packaging producer. Glass production is naturally connected to the beverage and food industries, making it a logical complement to malt and agriculture.
Other business interests connected to Minovalov have included Avangard-Garant Insurance Group, investment holding companies, and related financial and industrial assets.
Marketscreener and other company-profile sources have described him as holding leadership roles across Avangard Bank, Avangard-Garant, Avangard-Agro, Avangard Malz, and Alkor Holding Group.
Kirill Minovalov’s net worth is estimated by Forbes at around $1.2 billion. His fortune comes from Bank Avangard, Avangard-Agro, malt production, insurance, glass manufacturing, investments, aircraft, and yacht assets.
Older estimates placed his wealth lower, including around $850 million in 2019. The value of his fortune can change significantly depending on Russian market conditions, the ruble exchange rate, bank valuations, agricultural assets, and private company performance.
Kirill Minovalov has long been linked to private aviation. Earlier reports described him as flying a Cessna Citation X himself. The Citation X was one of the fastest business jets in the world and was a logical aircraft for a businessman regularly traveling between Russia and Europe.
In 2022, Forbes Russia reported that the owner of Avangard Bank had acquired a private jet worth about $45 million. The aircraft was identified as a Dassault Falcon 7X, reportedly purchased in 2020.
Private aviation is consistent with Minovalov’s international business interests, including banking in Russia, malt production in Germany, and yacht activity in Europe.
Kirill Minovalov is the owner of the yacht AVANGARD II. The yacht was built by Avangard Yachts, a yacht-building operation associated with Minovalov, and delivered in 2008.
AVANGARD II is approximately 50 meters long and was built in Croatia. Her exterior and naval architecture were designed by Mulder Design, while her interior was created by Lazzarini & Pickering.
The yacht has a steel hull and aluminum superstructure, a beam of about 9.6 meters, and a gross tonnage of around 753 GT. She can accommodate up to 12 guests in 6 staterooms and carries a crew of around 10.
AVANGARD II is powered by Caterpillar diesel engines. She has a top speed of about 16 knots and a cruising speed of around 11 to 14 knots, depending on source and operating conditions. Yacht-market sources value her at approximately $25 million, with annual running costs estimated at around $2.5 million.
Kirill Minovalov keeps his private life relatively discreet. Public profiles describe him as married and note that he is known for interests in aviation, yachting, and business travel.
He has generally maintained a lower public profile than many Russian billionaires. Most public information about him focuses on Avangard Bank, Avangard-Agro, malt production, aviation, and the yacht AVANGARD II.
Kirill “Cyril” Minovalov is a Russian billionaire whose business empire combines banking, agriculture, malt production, insurance, glass manufacturing, private aviation, and yachting. From founding Avangard Bank in 1994, he built a diversified group that reflects both financial skill and a preference for vertically connected industrial assets.
With a net worth estimated at around $1.2 billion and ownership of the 50-meter yacht AVANGARD II, Minovalov remains a notable figure in Russian business and the superyacht community.
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He lives in Moscow. We have not yet been able to identify his home. These are sample photos of billionaire residences. Do you know more about his house? Please do send us a message.
Moscow, the capital of Russia, is a vibrant city known for its rich history, stunning architecture, and economic significance. Home to iconic landmarks like the Kremlin and St. Basil’s Cathedral, Moscow is also one of the world’s leading financial and cultural hubs. The city boasts a thriving luxury lifestyle, with high-end boutiques, Michelin-starred restaurants, and prestigious events. Billionaires are particularly drawn to Moscow for its dynamic business opportunities and central role in the global energy and finance industries.
Wealthy residents of Moscow primarily reside in the upscale area of Rublyovka, a prestigious district located west of the city. Known for its opulent mansions, private estates, and exclusive gated communities, Rublyovka has long been synonymous with wealth and status.
The area offers proximity to Moscow while maintaining privacy and security for its elite residents. In addition to Rublyovka, areas like Patriarch’s Ponds and Ostozhenka, also known as the “Golden Mile,” are popular for their luxurious apartments and prime locations. With its mix of history, power, and prestige, Moscow continues to attract billionaires seeking a cosmopolitan yet exclusive lifestyle.
He is the owner of the yacht Avangard II. It was built at Avangard Yachts, which is owned by Minovalov.
The AVANGARD II Yacht was expertly constructed by Avangard Yachts in 2008, featuring a design conceptualized by Mulder Design.
The motor yacht is powered by Caterpillar diesel engines, providing a max speed of 16 knots and a cruising speed of 11 knots. She can traverse over 3000 nautical miles without the need for refuelling.
She has the capacity to accommodate 12 guests along with a professional crew of 10, offering a lavish and memorable seafaring experience.
He is the owner of a Gulfstream G500 with registration N500AN. He also owns (or owned) a Cessna 750 Citation X private jet. The jet is registered in Germany (D-BLDI). And he also owns a helicopter with the registration D-HAVN. The helicopter is carried onboard the yacht.
The Gulfstream Aerospace G-V is a long-range business jet produced by Gulfstream Aerospace. The G-V was first introduced in 1997 and is known for its spacious cabin, long range capability, and high cruising speeds. It has a maximum range of approximately 6,500 nautical miles and can accommodate up to 19 passengers. The G-V was later succeeded by the Gulfstream G550, which was introduced in 2003. The list price of a Gulfstream G-V aircraft varies depending on several factors such as the specific configuration and optional equipment selected by the buyer. However, at the time of its production, the Gulfstream G-V had a list price of around $35 million to $45 million.
(Photos by JetPhotos.com, Planespotters.net ; flightaware.com; flickr.com; picssr.com; planefinder.net ) Do you want us to remove a certain photo? Or credit a source? Please send us a message
SuperYachtFan Yacht Owners Database Q2-2026
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