Viktor Rashnikov Net Worth

Viktor Rashnikov was born on October 13, 1948 in Magnitogorsk, Russia, Russia. Victor Rashnikov is majority owner of Magnitogorsk Iron & Steel Works (MMK). He got his start as a mechanic at the metals outfit back in 1967 and worked his way up. He built his ownership to nearly 100% by buying shares on the market, and he fought off takeover attempts by companies associated with fellow billionaire Iskander Makhmudov. When he faced shortages of iron ore, he and his partners bought one of the biggest iron ore deposits in Russia. In 2007 he took MMK public on the London Stock Exchange and pocketed $1 billion. He stepped down as chief executive of MMK in 2011 after 14 years. His youngest daughter, Olga, joined the board and the strategic planning committee a year later. In 2015 Rashnikov launched his new $300 million (estimated cost), 460-foot yacht, "Ocean Victory." Most of his fortune is still held in MMK shares.
Viktor Rashnikov is a member of Manufacturing

Age, Biography and Wiki

Birth Day October 13, 1948
Birth Place Magnitogorsk, Russia, Russia
Birth Sign Scorpio
Residence Magnitogorsk, Russia
Occupation Chairman, Magnitogorsk Iron and Steel Works
Spouse(s) married
Children 2
Awards Order "For Merit to the Fatherland" (2nd class) Order "For Merit to the Fatherland" (3rd class) Order "For Merit to the Fatherland" (4th class) Order of Honour

💰 Net worth: $11.9 Billion (2021)

2009 $2.5 Billion
2010 $9.8 Billion
2011 $11.2 Billion
2012 $5.6 Billion
2013 $4.2 Billion
2014 $2.8 Billion
2015 $3.5 Billion
2016 $3.8 Billion
2017 $8.3 Billion
2018 $10.02 Billion

Some Viktor Rashnikov images

Famous Quotes:

"By 2007, 10 years after Mr. Rashnikov became director, MMK doubled steel production from 6m to 12m tonnes a year."



In 1974, Rashnikov achieved his first degree having studied the field of Metal Forming Process in Magnitogorsk Institute of Mining and Metallurgy. He later gained another degree in Organization of Production Administration, graduating from that program in 1994.


Rashnikov is the owner and the President of Metallurg Magnitogorsk ice hockey team. Since he took over in 1993, the team worked up a reputation as one of the top Russian teams of the new era. Magnitogorsk advanced to the Russian Superleague finals six times becoming a three time champion of Russia.


Rashnikov received his doctorate in Technical Sciences in 1998. In addition to writing many research papers and scientific reports, he has implemented numerous engineering solutions.


In 2002 he was elected to the position of Honored Professor at the Moscow Institute of Steel and Alloys. Additionally, he holds a role at the Russian Academy of Quality Problems as an Academician.


In 2005, Rashnikov left the position of CEO, but remains the chairman of the company.


With the support of Rashnikov and MMK, in 2006 on the bank of the Ural River a modern ice palace with a capacity of more than 7,500 people was built (the Investments amounted to $50 million). The Arena Metallurg stadium is the base of the Metallurg ice hockey club, as well as the junior ice hockey team Stalnye Lisy (Steel Foxes).


- Rashnikov helped to fund the Holy Ascension Cathedral in Magnitogorsk – the main cathedral of the Magnitogorsk diocese, located in the city of Magnitogorsk.


The company in 2016 produced 70% of metal requirements at AvtoVAZ, 50% at GAZ and 50% at KAMAZ. The company fully met Russian Ford’s metal requirements.


Having worked his way up through various positions at MMK, Viktor Rashnikov was able in the 90-s to attain near complete control of the company through the purchase of shares on the market (87.26% as of May 2017).


Rashnikov’s contribution to social development of Magnitogorsk is recognized by the Russian government. In 2009, the then Prime Minister of Russia Vladimir Putin praised Rashnikov for his management.