Gennady Timchenko has made an indelible impact on the energy industry as a major actor in Russia and internationally. As we navigate 2023, curiosity peaks around one question, What is Gennady Timchenko net worth? This article provides a detailed evaluation of Timchenko’s financial status.
What is Gennady Timchenko’s Net Worth and Salary in 2023?
As of 2023, Gennady Timchenko has amassed an impressive net worth of $18.5 billion. With this astounding sum, Forbes ranks him as the sixty-fourth wealthiest person on the planet.
While his exact salary remains undisclosed, it is evident that Timchenko’s diverse business ventures and investments have significantly contributed to his immense wealth and global standing.
Gennady Timchenko’s Overview
Born on November 9, 1952, in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia), Timchenko grew up in a Russian family of Ukrainian descent.
His father, a veteran of the Soviet armed forces from World War II, instilled in him the importance of diligence and persistence.
From 1959 to 1965, Timchenko spent six years of his childhood in the German Democratic Republic, where he learned German, and in the Ukrainian SSR.
He completed his primary and secondary schooling in Leninakan before enrolling at the Leningrad Mechanical Institute (now Peter the Great St. Petersburg Polytechnic University) to study Electrical and Mechanical Engineering.
Timchenko began his professional journey in 1977 as an engineer at the Izhorsky plant near Saint Petersburg, which specialized in building power generators. After some time, he transitioned to the trade department of the state-owned company.
In 1991, Timchenko left Russia and joined Finland-based company Urals Finland Oy, which focused on importing Russian oil to Europe. It was during this time that he became a Finnish citizen.
Timchenko’s career took a big turn in 1991 when his close friend, Russian leader Vladimir Putin, gave him a license to sell oil. This led to the founding of Gunvor, a company exporting billions of dollars worth of Russian oil.
Over the years, Timchenko expanded his business interests and founded the private investment firm Volga Group. He also acquired stakes in Russian businesses, including gas company Novatek and petrochemical companies.
In addition to his business ventures, Timchenko has been actively involved in sports and philanthropy. He co-founded the Yawara-Neva Judo Club in 1998 and has long supported tennis, sponsoring the IPP Open in Finland since 2000.
In 2011, he was named Chairman of the Economic Council of the Franco-Russian Chamber of Commerce (CCIFR) and Chairman of the Board of Directors and President of SKA Saint Petersburg, a top ice hockey team.
The following year, he became the Chairman of the Board of Directors of the Continental Hockey League (KHL).
Gennady Timchenko is married to Elena Timchenko. They have three children and have been actively involved in philanthropic activities. In 2008, the couple founded the Neva Foundation in Geneva to promote and finance cultural projects in Switzerland and Russia.
They also established the Timchenko Foundation, focusing on providing help for the elderly, supporting cultural projects, and contributing to modern medical technology.
While Gennady resides in Moscow, Russia, his family lives in Switzerland. Their daughter Ksenia is married to Gleb Frank, the son of Putin’s former transport minister, Sergey Frank.
In 2007, he co-founded the Kluch Charitable Foundation with Surgutex, focusing on developing professional foster homes in various regions of Russia.
A year later, Gennady and his wife Elena established the Neva Foundation in Geneva, which aims to promote and finance cultural projects in Switzerland and Russia, particularly emphasizing lyrical art.
In 2010, the couple created the Ladoga Foundation, which primarily assists the elderly, supports cultural projects, and aids in the restoration of spiritual and cultural heritage monuments.
The foundation was later renamed the Elena and Gennady Timchenko Foundation in 2013, consolidating all their charitable activities under one umbrella.
Timchenko’s philanthropy also extends to sports, as he co-founded the Yawara-Neva Judo Club in 1998 and serves on the board of trustees for various organizations, including the Jewish Museum and Tolerance Center in Moscow and the Russian Geographical Society.
In response to the COVID-19 pandemic, Timchenko generously donated 2.9 billion rubles to help combat the crisis.
Why is Gennady Timchenko Famous?
Gennady Timchenko is renowned as a Russian oligarch and billionaire businessman, with his fame stemming from his close ties to Russian President Vladimir Putin and his impressive business ventures.
His diverse business interests span the energy, transportation, and construction sectors, with his most notable venture being the co-founding of the Switzerland-based oil trader Gunvor.
Timchenko’s influence extends beyond the business world, as he holds prominent positions in sports and philanthropy.
FAQs about Gennady Timchenko
Who is the richest family in Russia?
Tatyana and Vladislav Bakalchuk had the wealthiest family in all of Russia.
How old is Gennady Timchenko?
Gennady Timchenko age is 70 years old.
How tall is Gennady Timchenko?
Gennady Timchenko height is unknown.
How much is oligarch Suleiman Kerimov net worth?
He eventually acquired sizable stakes in Sberbank, Gazprom, and Uralkali. His net worth increased to $21 billion in 2008 but had down to $11 billion by 2022. Kerimov has been the Federation Council of Russia representative for Dagestan since 2008.
In conclusion, exploring Gennady Timchenko’s financial journey provides a fascinating glimpse into the life of one of the most influential figures in Russia’s energy sector. Yet, the world of massive wealth and fame extends far beyond Timchenko.
If you’re intrigued by the financial dynamics of the world’s most influential personalities, we encourage you to explore other articles in our World Celebrity Net Worth series.