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The owner of «Renaissance Insurance» has become a billionaire on the production of marijuana

The owner of «Renaissance Insurance», the investment banker Boris Jordan has built the largest U.S. producer of marijuana and became a billionaire. According to Forbes, his fortune is about $1.2 billion.

The state-based businessman is at stake in the American manufacturer of marijuana Curaleaf. Established in 2010 year, the company in October 2018, was released to the stock exchange in Toronto. In USA cannabis at the Federal level is not legalized, so Curaleaf held an IPO in Canada on the Canadian Securities Exchange (CSE). Then the company raised $400 million, investors appreciated its nearly $4 billion Today capitalization of about $3.5 billion.

In 2019 Curaleaf made several major deals. In may, the company acquired the American manufacturer of marihuana Cura Partners for $948 million, and in July announced the purchase of its nearest competitor, the company GR Companies (operating under the brand of Grasroots), for $875 million.

Summer Forbes was able to talk with Boris Jordan. He said that he owns a 34% stake in Curaleaf. The businessman owns 100% of multiple voting shares, each of which provides 15 times more votes than ordinary. This gives him the ability to control more than 90% of the vote. After three years, these shares will become ordinary.

In Jordan, there are still business in Russia. His band «Satellite» controls being 52.12% of shares of «Renaissance Insurance», one of the largest insurance companies in Russia. Sputnik has also invested in biopharmaceutical company OxfordBioMedica.

In 1988 he graduated from new York University, with a bachelor’s degree in the field of Russian-American economic relations. Labour activity of Boris Jordan started as an analyst at investment Bank Kidder Peabody, and then became Vice President of the leasing company GPA Capital Inc.

Since 1992 he held the positions of managing Director of the investment Bank Credit Suisse First Boston in London and co-Director of the Moscow branch of the same Bank. In may 1995 he founded and headed the investment Bank «Renaissance Capital».

Since 1997 — President of «MFK-Renaissance», formed in the merger of «Renaissance Capital» and the International financial company. In 1997, Jordan was going to get Russian citizenship, but changed his decision after he lifted the ban to lead Russian banks and companies to foreign nationals.

In April 2001, after the transfer of assets of the company «Media-the Bridge» under control «Gazprom» Boris Jordan was appointed General Director of OJSC «NTV broadcasting company», and in October of the same year, OAO «Gazprom-media».

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