Gennady Timchenko is a multibillionaire Russian businessman and oligarch. Timchenko founded and owns the private investment firm Volga Group, which invests in energy, transportation, and infrastructure. Before, he was a co-owner of Gunvor Group.
Timchenko is a prominent figure in the ice hockey community being both the President of the SKA Saint Petersburg franchise and the Chairman of the Board of Directors of the Kontinental Hockey League. Besides being a citizen of Finland and Russia, he is also an Armenian citizen.
What is the Net Worth of Gennady TImchenko? Salary, Earnings
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As of 2023, experts estimate that Gennady Timchenko’s net worth will be close to $14 billion.
Where was Gennady TImchenko born? Ethnicity, Nationality, Family, Education
Gennady Nikolayevich Timchenko entered the world on November 9, 1952, in Leninakan. His dad was a member of the Soviet armed forces and fought alongside the Russians in WWII.
According to an interview he gave in 2008 with the Wall Street Journal, he graduated with a degree in electrical engineering from the Mechanical Institute of Saint Petersburg (then known as Leningrad) in 1976. His wife, Elena, and their three children. Since 2014, he has been based out of Moscow, Russia, while his family still lives in Switzerland.
Quick Facts
| Net Worth: | $14 Billion |
|---|---|
| Age: | 69 years old |
| Born: | November 9, 1952 |
| Gender: | Male |
| Height: | 1.83 m (6 ft 0 in) |
| Country of Origin: | Armenia |
| Source of Wealth: | Businessman |
How did Gennady TImchenko start his Professional Career?
Timchenko’s engineering career began in 1977 at the Izhorsky factory, a power generator producer located near Saint Petersburg.
When Russia’s economy began to open up in 1988, he was promoted to the position of deputy director of the state-owned oil company, Kirishineftekhimexport. In 1987, the Kirishi refinery, one of the three largest in the RSFSR, laid the groundwork for what would become Kirishineftekhimexport.
After deciding to leave Russia, Timchenko was hired in 1991 by Urals Finland Oy, a Finnish company that specialized in transporting Russian oil to European markets.
In 1997, he co-founded Gunvor with Swedish entrepreneur Torbjörn Törnqvist to become a global commodity trading enterprise. He transferred ownership to Törnqvist the day before the US fines were imposed in March 2014. Private investment firm Volga Group (Volga Resources Group) was founded by Timchenko in 2007.
After the Crimean status vote in March 2014, the U.S. Treasury put Timchenko on its Specially Designated Nationals List, a list of people sanctioned as “members of the Russian leadership’s inner circle.”
In the same year, he had already sold 49% of the shares in the Finnish company IPP Oy. It represented a negligible share of the Volga Group’s total assets. As a result of his role in the Crimean crisis that began in April 2014, Timchenko was hit with international sanctions.
As of November 2022, experts estimate that Gennady Timchenko’s net worth will be close to $14 billion.
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