Gennady Timchenko Net Worth is$9.1 Billion
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Profession: Businessperson, Trader
Date of Birth: 1952
Country: Russia, Finland
Net Worth: View Gennady Timchenko Net Worth
What is Gennady Timchenko's net worth? Gennady Timchenko's net worth is $9.1 billion dollars which makes him one of the richest people in Russian. Born in Leninakan, Armenian Soviet Socialist Republic, Gennady Timchenko grew up in the Ukraine and in the German Democratic Republic. He graduated from the Leningrad Mechanical Institute, and began working as an engineer for a company near St. Petersburg. He was subsequently moved to the trade department. In the late 80s, he became head of Kirshineftekhimexport, a state owned oil company. When the company went private, he became a major shareholder. He co-owns, or holds major stakes, in multiple companies, including the Gunvor Group - a major energy firm, Sibur Holding, - a petrochemical company of which he owns 37.5%, and Russian Sea Group - a fish retailer. The majority of his holdings are managed under the umbrella of his Volga Resources group. He also owns the engineering firm, Stroytransgaz, and the railway company, Transoil, which specializes in transporting oil products.
Gennady Nikolayevich Timchenko (also spelled Guennadi Timtchenko; (born 1952) is a prominent businessman, active in the energy trading business, citizen of Finland, currently living in Geneva, Switzerland.
Timchenko is ranked 99th in the 2012 edition of the Forbes magazine billionaires list, with an estimated fortune of $9.1 billion USD.
Gennady Timchenko was born in Leninakan, Armenian SSR (Soviet Union) in 1952 from a father who was in the Soviet military. He spent part of his childhood in the German Democratic Republic and in Ukraine.
According to a 2008 interview with the Wall Street Journal, he graduated from the Mechanical Institute of St. Petersburg (then Leningrad) as an electrical mechanical engineer.
In 1977, he started to work as an engineer for a plant near St. Petersburg specializing in building power generators. Since he spoke German, he was then moved to the trade department of this state-owned company.
In 1987-1994, when Russia started to liberalize its economy, he was promoted as the head of the state-owned oil company Kirshineftekhimexport enterprise. At this period Timchenko's teams set up some of the first export routes of oil products from the USSR to Western countries. Timchenko became one of the first figures of the Russian oil trading industry.
In 1990, Gennady Timchenko decided to leave Russia and was hired by a Finland-based company, URALS FINLAND, specializing in importing Russian oil to Europe. He settled in Finland and became a Finnish citizen.
Gennady Timchenko is the co-founder (together with Torbjorn Tornqvist) of Gunvor international B.V. a corporation registered in the Netherlands, and operating in trading and logistics related to the international oil market.
Its operations consist in processing different sources of crude oil (there are different kinds) and optimize its supply in accordance to the movements in price and demand, but also by taking into account the variability of these two aspects regarding th

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Gennady Timchenko Latest News

Wilbur Ross didn’t disclose stake in shipping company tied to Putin relatives, leaked docs show

The company makes millions shipping resources from major client Sibur, the New York Times reported. Sibur’s top leadership includes Gennady Timchenko, Putin’s friend who’s been sanctioned by the U.S., as well as the Russian strongman’s son-in-law ...
Posted: November 5, 2017, 12:28 pm

U.S. Commerce chief Ross divesting shipping interests: official

These include Putin's son-in-law, Kirill Shamalov, and Gennady Timchenko, a Putin associate who is subject to U.S. Treasury sanctions. Ross said in multiple media interviews that he had fully disclosed his stake in Navigator Holdings as part of government ...
Posted: November 7, 2017, 11:24 pm

World Cup 2018 guide to Russia: Stadiums, travel, security and hospitality of Russian hosts next summer

So corners are not cut. The Volgograd and Nizhniy Novgorod stadiums have been assigned to the Stroytransgaz corporation, the oil and gas industry specialist headed by his friend Gennady Timchenko. You can find out more about the 12 venues on this link.
Posted: December 1, 2017, 12:39 am
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