Sergey Galitsky, 2006
|Born||14 August 1967
Sochi, Krasnodar Krai, Russian SFSR
|Occupation||co-owner of a major retail chain “Magnit”, President of FC Krasnodar|
|Net worth||$8.3 billion|
Sergey Nikolayevich Galitsky (Серге́й Николаевич Галицкий) is a Russian businessman, founder and co-owner of Magnit (Russia's largest retailer) and president of FC Krasnodar. The Forbes estimated his personal fortune at US$8.3 billion.
Sergey Arutyunian was born on 14 August 1967, in Sochi, Southern Russia, into an Armenian family. He later adopted his wife's surname.
In 1993, he graduated from the Economics Faculty of Kuban State University. A year later, he founded the company, "Tander", which traded wholesale cosmetics and perfumery. In 1998, he built the first distribution center, and immediately after a crisis opened the first grocery store "Magnit" in Krasnodar. In 2000, he switched to retail, and created the largest network by number of stores in Russia. In 2006, the company conducted its IPO and was valued at $1.9 billion.
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