⬅ # 206 Brian Chesky|# 208 Ivan Glasenberg

# 207 Viktor Rashnikov 

$10.9B

Real Time Net Worth
as of 5/18/2024
$32 (0.00%)

# 207 Viktor Rashnikov 

$10.9B

Real Time Net Worth
as of 5/18/2024
$32 (0.00%)
OccupationChair, Magnitogorsk Iron and Steel Works
Source of WealthSteel
Age75
ResidenceMagnitogorsk, Russia
Marital StatusMarried
Children2
EducationMS in Engineering, Magnitogorsk Mining and Metallurgical Institute
Age-Adjusted Net Worth$3.96B
Viktor Rashnikov
Viktor Rashnikov
Russia
Net worth: $10.9B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Viktor Filippovich Rashnikov was born on October 13, 1948, to a Russian family.
In 1974, Rashnikov earned a bachelor's degree in metal forming process at the Magnitogorsk Institute of Mining and Metallurgy.
He later gained another degree in Organization of Production Administration in 1994.
Rashnikov received his doctorate in Technical Sciences in 1998.
In 2002, he was elected to the position of Honored Professor at the Moscow Institute of Steel and Alloys.

Career

Rashnikov began his career at Magnitogorsk Iron & Steel Works (MMK) as a mechanic in 1967.
Up until 1991, he held various management positions at MMK, including Chief Engineer and First Deputy General Director.
In 1997, Rashnikov became the General Director of MMK and, in 2005, the Chairman of the Board.
Under his leadership, MMK doubled steel production from 6 million to 12 million tonnes a year by 2007.
In 2007, MMK became a publicly traded company on the London Stock Exchange during Rashnikov's tenure as the Chairman of the Board.
Stepped down as CEO of MMK in 2011 after 14 years in the job.

Leadership Achievements

Rashnikov gained near-complete control of MMK through the purchase of shares, reaching 87.26% as of May 2017.
Implemented a full-scale investment program, including modernization of blast furnaces, construction of facilities, and complex development.
Led environmental initiatives, reducing emissions by 37.5% and specific emissions by 47.4% from 2011 to 2016.
MMK adopted a long-term environmental program through 2025 with funding exceeding $600 million.

Metallurg Magnitogorsk

Owner and president of Metallurg Magnitogorsk ice hockey team since 1993.
Supported the construction of the Arena Metallurg stadium, a modern ice palace with a capacity of more than 7,500 people.

Family

His youngest daughter, Olga, joined the board and the strategic planning committee of MMK in 2012.
Olga resigned from the board in March 2022.

How long would it take you to become as rich as Viktor Rashnikov?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Viktor Rashnikov's net worth of $10.9B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Viktor Rashnikov is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Viktor Rashnikov, Steel is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey