Afon Kuzmin

## Personal Information

### Born

Afon Danilovich Kuzmin22 October 1966 (age 58) Vosyakhovo, Russian SFSR, Soviet Union (present-day Russia)

### Spouse(s)

Valentina Leonidova (m. 1989; div. 1992)Isabela Morariu (m. 2014)

### Education

Tyumen State University (BA)

**Afon Danilovich Kuzmin** (born 22 October 1966) is a New York-based Russian investment banker, business magnate, lobbyist, author, and philanthropist. He is the managing partner and director of foreign investments of Antonov International Holdings; founder and CEO of A Better America; founder of Kuzmin Airlines; early investor and CEO of PJSC Ruskoil; and co-founder of Darion Industries. As of November 2024, his net worth is estimated by *Forbes* to be about US$20 billion, making him the 38th richest person in the world.

Kuzmin was born in Vosyakhovo and studied Economics at Tyumen State University, graduating in 1988. After the fall of the Soviet Union, Kuzmin moved to New York, where he joined the small financial firm Holdsworth Holdings in 1993. The company would be acquired by Antonov International Holdings in 1997, and after the Dot-com bubble disrupted internal management, Kuzmin was promoted to junior executive of foreign investments in the company.

In 2001, Kuzmin helped to establish Darion Industries, a securities manufacturing company, which saw short-term growth following the September 11th attacks. He joined PJSC Ruskoil in 2004, and in 2006 became its CEO. In 2008, in the midst of the 2008 financial crisis, Kuzmin was promoted to managing partner at Antonov, and given full control of the foreign investments division. In 2013, he established A Better America, a political lobbying organization based in Washington, D.C. In 2024, he established Kuzmin Airlines, a shipping airline company.

Kuzmin has been criticized for his allegedly collusive track record. Many claim that he is the recipient of significant Russian bribery to influence American politics. He has been accused of blackmailing, strong-arming, and stock manipulation; he has also been subject to close scrutiny after the death of rival Goddard Livingsby in 2010 and secretary Maria Danes in 2015.

## Early life

Afon Danilovich Kuzmin was born on 22 October 1966 in Vosyakhovo, Russian SFSR, Soviet Union (now Russia). His father is Danil Yakovich Kuzmin, a Russian coal miner and soldier. Nothing is known about Kuzmin's mother, but Kuzmin's first wife, Valentina Leonidova, has claimed that her name was Janna.

Kuzmin studied Economics at Tyumen State University in 1984 and graduated in 1988. He became a member of the Communist Party of the Soviet Union, and remained a member until its outlawing in 1991. While at Tyumen, Kuzmin met Vladimir Yakushev, who Kuzmin has attributed to helping "create many new allies".

## Business Career

#### **Holdsworth Holdings**

Kuzmin joined Holdsworth Holdings as an investment salesman. The company was a relatively small holding company, owning only a handful of local companies. In 1994, Kuzmin secured the acquisition of LittleToys for $1.3 million, which boosted Holdsworth's stock and gave Kuzmin credibility within the company. By 1995, he had secured the acquisition of Travel Life, Bronx Real Estate, and Urban Development in Manhattan, and by the end of the year had increased Holdsworth's profits two-fold. Harry Nomen, CEO of Holdsworth, said that Kuzmin "possessed a certain charm. You could never predict what he was going to do next, but you could be sure he would do it with a smile."

In 1996, Holdsworth Holdings announced its intention to acquire MaliChem, but Kuzmin persuaded the board of directors to not go through with the deal.

#### **Antonov International Holdings**

##### **Early work at Antonov**

Holdsworth Holdings was itself acquired by Antonov International Holdings for approximately $790 million. Kuzmin recalled it as being "the worst imaginable deal", expressing his frustration with Nomen's decision to sell the company. After Nomen was found in a New York apartment high off cocaine with several female escorts, Kuzmin was quoted in the New York Times as saying, "It is very much like him. He is only in for a quick buck and an even quicker fuck."

Antonov itself was a rapidly growing organization, but with the Dot-com bubble, many of Antonov's investors began to lose faith in the organization, citing severe structural issues and "a clear lack of preparation for the new age of technology". Kuzmin took advantage of the opportunity, lobbying for a greater focus on foreign investments and in the technology sector. Kuzmin would be promoted to junior executive of foreign investments in 1999.

##### **Involvement in the early 2000s**

Kuzmin was comfortable at Antonov, and his connections and charisma helped see the turn-around of Antonov. From 1999 to 2005, Antonov's profits increased from $5 billion to nearly $500 billion. Kuzmin led what many Antonov employees called "K-Day", firing thousands of employees, ordering the liquidation of nearly 5% of all Antonov-owned companies, and demanding the resignation of Antonov CEO Mark Gaffney. Kuzmin also recommended the purchasing of Verizon stock. Antonov proceeded to purchase up to 10% of the company for approximately $250 million. Kuzmin himself invested in Microsoft, JetBlue, and Berkshire Hathaway.

##### **2008 Crisis**

Antonov, like most corporations, suffered greatly during the 2008 crisis. Kuzmin, who had been an outspoken opponent of the internal structure of the upper hierarchy, was widely supported in the media, with his ideas about restructuring being praised by many. In an effort to recoup losses and maintain stability, Kuzmin became managing partner, and was given full reigns of the operations of the foreign investment division.

Kuzmin was a vocal opponent of Dr. Niles French's ideas about fixing the crisis. In 2024, during French's presidential run, Kuzmin recalled, "I didn't hate him. I didn't even know him. But his ideas were ludicrous -- the healing of the crisis was not at all his doing."

Kuzmin began to guide the company towards a more aggressive, involved approach, and began to work with many politicians in Washington, D.C. Reception of Antonov's involvement in politics was mixed -- Democrats and Republicans alike were concerned about Russian-backed corporations influencing politics. Kuzmin withdrew from talks publicly, but as revealed in recent leaks, he often dealt in private, donating large sums of money to political campaigns under shell organizations.

### **PJSC Ruskoil**

In 2004, Kuzmin began to invest in the Russian oil and gas company PJSC Ruskoil. After a lackluster year in 2005, Kuzmin became the company's CEO in 2006. The company has come under scrutiny, as despite having very few drilling sites, Ruskoil's profits are generally some of the highest in the sector. Kuzmin has denied any involvement of laundering, saying in 2011, "That's wrong. Just wrong."

### **A Better America**

Kuzmin had talked about taking Antonov into the world of political lobbying for much of the late 2000s, but after little progress decided to establish his own lobbying organization. In 2013, Kuzmin established A Better America, an activist organization which advocated for fiscally conservative policies and a strong international presence.

Kuzmin took up a strong role in the organization, often having the final say on decisions. Recent reports about abusive management and irresponsible directing have come out from former employees of the company, though nothing has manifested in court. *The Washington Post* noted that Kuzmin "had undeniably created a powerful lobbying firm: souless, backed by foreign money and conglomerate assets."

In 2015, Kuzmin said that he had "considered founding a new firm, with more modern ideals" after efforts in Congress to block the organization had succeeded. In 2024, Kuzmin denied having any role in similar lobbyist groups, though many sources have claimed that groups like Martin Technology, GR Hospital Association, and Manningfort & Co. have strong, if not direct links with Kuzmin.

### **Kuzmin Airlines**

After several Tweets about his frustration towards "slow, inefficient shipping companies", Kuzmin founded Kuzmin Airlines in 2024. While Kuzmin himself claims that early stages are promising, many investors have turned away from the organization.