Igor Olenicoff Net Worth & Biography

American businessman Igor Olenicoff is currently ranked by Forbes magazine as one of the 400 wealthiest people in America, thanks to the fortune he has accumulated during his lifetime. Mr. Igor Olenicoff’s net worth, according to Bloomberg Billionaire Index, is estimated at 4 billion dollars as of the time of this report. This businessman has derived most of his wealth from his real estate business, managed by his company, Olen Properties. To date, he is ranked among the 10 wealthiest people in Florida. Through his Olen Properties, Mr. Olenicoff owns more than 12,000 residential units in Las Vegas, Florida, and Arizona, in addition to the over 6.4 million square feet of office space he also owns. He is the founder of the Andrei Olenicoff Memorial Foundation headquartered in Newport Beach, California. As of December 2010, Mr. Igor Olenicoff was listed as the private foundation’s president. In 2007, he was found guilty of tax evasion stemming from his use of Swiss banks and off-shore companies to conceal his financial assets. More details follow below.

 Early Life: Childhood, Education

Igor Olenicoff was born in 1942 in Moscow, Russia. His family were tsarists who after the war, fled to Iran from the Soviet Union where he was educated by missionaries. His family then moved to the United States in 1957. There, his mother, Zina, worked as a homemaker. His father, on the other hand, Michael, was an engineer who found employment as a janitor.

He attended the University of Southern California for his undergraduate degree in corporate finance and mathematics. He also completed his MBA at the same institution.

Entrepreneurial Career

After graduating from college, Igor Olenicoff worked as a consultant and later as a corporate executive.

In 1973, he founded his company, Olen Properties, and proceeded to purchase a 16 unit duplex through it.

Since then, he has grown the company to an international level and now owns over 6.4 million square feet of office space and approximately 12,000 residential units in Florida, California, Las Vegas, and Arizona. Olen’s offshore corporate parent was first based in the Cayman Islands, Denmark, and the Bahamas.

Personal Life: Wife, Children, Private Interests

Mr. Olenicoff is married to Jeanne M. Patterson. She is a Los Angeles native and they have two children together. They have a daughter, Natalia. Their son, Andrei, was killed in 2005 in a car accident. The family resides in Lighthouse Point, Florida.

Mr. Olenicoff’s late son, Andrei, suffered from retinitis pigmentosa and in his honor, the family founded the Andrei Olenicoff Memorial Foundation based in Newport Beach, California. As of December 2010, Mr. Igor Olenicoff was listed as the private foundation’s president. So far, it has given out more than $37,890 in grants. It has assets valued at $208,859. The major benefactors of this foundation include the Guide Dogs for the Blind, Foundation Fighting Blindness, and Makapo Aquatics, a visually-impaired paddling team. One of the foundation’s first gifts went to Russian orphans who needed corrective surgeries and prosthetic devices. An alumnus of the University of Southern California, Olenicoff was opportune to meet an American banker named Brad Birkenfeld in 2001, who encouraged him to keep his money in Swiss banks such UBS, as he does with other wealthy entrepreneurs in order to avoid paying taxes. Both men ended up in court and in 2007, Mr. Olenicoff was charged with felony and was fined $52 million. He also served two years of being under probation and rendered 120 hours of community service.

Igor Olenicoff Net Worth

Ranked by Forbes magazine as one of the 400 wealthiest people in America, thanks to the fortune he has accumulated during his lifetime. Mr. Igor Olenicoff’s net worth, according to Bloomberg Billionaire Index, is estimated at $4 billion dollars.

Mr. Olenicoff makes his money from his business career where he is known as a businessman and real estate developer. Though his career was met with controversy after he evaded paying his taxes, his accomplishments tell you that this man has always been disciplined and determined throughout the course of his time in business. He started Olen Properties as a small real estate firm in 1973 and bought a 16 unit duplex through it. Since then, he has grown the company to an international level and now owns over 6.4 million square feet of office space and approximately 12,000 residential units in Florida, California, Las Vegas, and Arizona. Olen’s offshore corporate parent was first based in the Cayman Islands, Denmark, and the Bahamas. Since the founding of the company 46 years ago, it has remained committed to a basic business principle: maintain stability through carefully controlled growth and compatible hands-on management. Olen’s success, inspired by Mr. Olenicoff’s dedication to the business, continues to be driven by this principle. Today, the company has attained institutional prestige in property ownership and development.