He used to be one of the richest people in Russia, received personal appreciations from Mr. Putin for his work achievements. He is a founder and shareholder of AFK Sistema corporation which, among other companies, owned the concern PTI Sistemy, which, in turn, is one of the largest defense companies in the world, and MTC company, one of the largest mobile networks in Russia. In 2017, however, he lost a court trial to Rosneft and was obliged to pay $2.3 billion damages to Bashneft oil company.  

He is number 41 on the Russian Forbes 2021 list.

The company PTI Sistemy develops systems of management and connection, radio location stations for ballistic and cruise missiles, with its former subsidiary Krondshtadt producing military unmanned aerial vehicles.