S ergei Popov is a Russian industrialist and banker who co-founded one of the country's most successful business partnerships of the post-Soviet era. In the early 1990s, alongside his partner Andrei Melnichenko, he established MDM Bank, which they built into one of Russia's largest privately-owned banks. Their strategy involved leveraging the bank's financial power to acquire undervalued industrial assets, a common and highly effective approach during that period of economic transition.

This partnership led to the creation of two industrial giants: EuroChem, a leading global fertilizer producer, and SUEK, Russia's largest coal producer. In 2006, in a meticulously planned and amicable separation, the two billionaires divided their empire. Melnichenko took control of the industrial assets, while Popov retained ownership of the banking business, including MDM Bank. After managing the bank for several more years, Popov sold his stake, effectively cashing out of his major holdings. Since then, he has become one of Russia's most reclusive billionaires, managing his fortune through private investments and avoiding the public spotlight.