Alexander (Alex) Shnaider

Alexander (Alex) Shnaider is a prominent Canadian businessman, entrepreneur, and philanthropist, best known for his ventures in real estate development, steel manufacturing, and his ownership of the Midland Group.

Early life

Alex Shnaider was born on 18th of January, 1968, in Leningrad, Soviet Union (now St. Petersburg, Russia). His parents were Evsei and Larisa Shnaider, both of Jewish origin.

At the tender age of 4, Shnaider, along with his family, relocated to Israel and later made a significant move to Canada when he was just 13 years old. In 1991, he completed his academic journey at York University in Toronto, earning a Bachelor’s degree in the field of economics.


After graduating from York University, Shnaider started working with his father’s electronics company. But it was during a visit to Russia after the fall of the Soviet Union in 1991, where he saw significant business opportunities, that Shnaider’s true entrepreneurial spirit emerged. He seized the opportunity and founded the Midland Group, a diverse company with interests in various sectors including real estate, manufacturing, logistics, and trading.

One of Shnaider’s significant business milestones was in 1994 when he co-founded the Zaporizhstal steel mill in Ukraine, which has since become a successful steel manufacturing entity. Initially, the company was a steel trading entity operating in Ukraine before the privatization of government-owned steel factories. During its initial stages, it served as a sales agent and a factor for some of the state-owned enterprises.

By the year 1999, Midland Resources started acquiring shares in the Zaporizhstal steel mill. By 2001, a consortium led by Shnaider had successfully purchased 93 percent of the mill at a cost of $70 million.

The Panama Papers reveal that in 2010, Shnaider parted with at least half of Midland’s stake in Zaporizhstal. The shares were sold to buyers who were financially backed by the Russian state-owned Vnesheconombank, which was later acquired by the development bank.

In February 2005, Shnaider purchased the Jordan Grand Prix from Eddie Jordan for an estimated US$50 million. He rebranded the team as Midland F1 Racing for the 2006 Formula One season. Later, on 9th September 2006, the team was acquired by Spyker Cars.

In December 2007, Shnaider ventured into football, acquiring the Israeli football club Maccabi Tel Aviv for an approximate cost of 12 million euros. However, on 4th August 2009, he sold the club to Mitchell Goldhar, a Canadian real estate developer, after having invested $20 million into the club. Goldhar agreed to take on Shnaider’s 80% stake in the club by accepting its financial obligations. Additionally, Goldhar paid $750,000 to the Maccabi Tel Aviv sports foundation for their 20% stake in the club.

In addition to his ventures in steel and motor racing, Shnaider has also made a significant impact in the real estate market. Shnaider entered into a partnership with Donald Trump to construct the Trump International Hotel and Tower in Toronto. His primary co-investor was Val Levitan, a Russian Canadian entrepreneur known for his ventures in gaming. Trump held a minority share in the project and owned the contract for property management; however, this minority share and management contract were bought out in 2017, leading to a name change for the property to the Adelaide Hotel Toronto. In 2007, reports emerged that Shnaider chose to retain the penthouse suite, valued at an estimated $20 million, for personal use. By 2017, Shnaider and the building were implicated as crucial connectors in an alleged financial relationship between Trump and the Russian government. It was reported that Shnaider utilized some profits from the sale of his Ukrainian steel mill to offset cost overruns at the Toronto Trump Tower.

In March 2010, Shnaider invested in a consortium that acquired Toronto’s King Edward Hotel for $50 million from a distressed sale by Lehman Brothers. The investment was made in conjunction with three other real estate firms, namely Skyline International Development Inc., Dundee KE Inc., and Serruya Realty Group Inc.

However, on 1st August 2012, James D. Caldwell, CEO of Omni Hotels & Resorts, also bought a stake in the hotel, and on 24th November 2015, Omni Hotels and Resorts announced it had bought out the other parties and taken full ownership of the hotel.

In 2011, Shnaider, together with N3 Real Estate owned by Dutch businessman A.D.G van Dam, established Delton Retail Fund, a property group.

On 30th December 2015, Shnaider made an investment of NIS₪39 million in Mishorim Development Ltd., a real estate company under the control of developer Gil Blutrich. Shnaider had previously invested alongside Blutrich in the King Edward Hotel through Skyline International Development Inc., a Mishorim subsidiary. In July 2016, Shnaider increased his stake in this company from 21% to 42%. As of August 2020, he became the sole holder of controlling interest after winning a legal lawsuit filed by his former partner Gil Blutrich.

Net Worth

As of 2023, Alex Shnaider’s net worth is estimated to be around $1.3 billion. His wealth comes primarily from his successful ventures in the steel industry, real estate development, and other diversified investments through the Midland Group.


Alex Shnaider’s achievements are numerous and varied. Under his leadership, Zaporizhstal steel mill became one of Ukraine’s top steel producers. His real estate development ventures have led to iconic structures such as the Trump International Hotel and Tower in Toronto.

Co-founded the Midland Group, a diversified company with interests in real estate, manufacturing, logistics, and trading.
Successfully turned Zaporizhstal, a Ukrainian steel mill he co-founded in 1994, into one of Ukraine's top steel producers.
Became the first Canadian to own a Formula One team by buying the Jordan Grand Prix in 2005, later rebranded as Midland F1 Racing.
Constructed the Trump International Hotel and Tower in Toronto, which was the tallest residential building in Canada at the time of its completion.
Made a significant investment in Maccabi Tel Aviv, an Israeli football club, contributing to its growth.
Purchased Toronto's King Edward Hotel for $50 million as part of a property consortium, marking a significant investment in the hospitality industry.
Established the Delton Retail Fund, a property group, in 2011.
Successfully increased his holdings in Mishorim Development Ltd. from 21% to 42% in 2016, thereby showing strategic investment capabilities.

Throughout his career, Shnaider has demonstrated a keen ability to seize business opportunities and turn them into successful ventures, marking him as one of Canada’s most successful entrepreneurs.