- Youth and family
- The path to the top of the business
- Gennady Timchenko: state
- "Volga Group"
- Sports and Wellness Business
- Social activities and charity
- Sports and Hobbies
- Can I chat with Timchenko on the web?
Gennady Timchenko (b. 1952) is a Russian businessman and billionaire. He owns the Volga Group investment group, which specializes in investments in energy resources, transportation and infrastructure assets. Previously, he was co-owner of the international energy trader Gunvor Group. In 2014, Timchenko took 62nd place in the ranking of billionaires according to Forbes magazine. His own capital as of April of this year is estimated by this magazine at $ 11.3 billion.
The pre-board of the KHL and the president of the club SKA (St. Petersburg) are all the same Gennady Timchenko. The photo below was taken last year and presents it as an open and benevolent person.
Youth and family
Gennady Timchenko was born in 1952 in Armenian Leninakan (now Gyumri). His family was quite typical for that time. His father served in the Soviet Army, and several years of his service were held in the group of Soviet troops in Germany (GSVG). Therefore, Gene Timchenko spent 6 years of his childhood (in the period 1959-1965) in the GDR, where he learned German, as well as in Ukraine, in the city of Bolgrad in Odessa, where his father was later transferred.
Where did Gennady Timchenko go after graduation? His biography continued in Leningrad, where he studied at an elite Soviet university - the Leningrad “military men”, who train personnel for enterprises of the military-industrial complex. After graduating in 1976, he became an electrical engineer.
Who is married Gennady Timchenko? His wife, Elena, who is a citizen of Finland, actively helps her husband in his affairs, especially those related to charity. They have three adult children - two daughters and a son.
As of August last year, Timchenko and his wife lived in Moscow in a rented house, which had previously been the residence of Nikita Khrushchev. He also owns a house in Switzerland, by the way, next to the famous Ukrainian oligarch I. Kolomoisky.
As ITAR-TASS reported last year, Gennady Timchenko himself, his son continues to be a citizen of Finland and studies at the University of Geneva.
The path to the top of the business
In 1977, Timchenko began working as an engineer at the Izhora plant in the city of Kolpino near Leningrad. The enterprise then specialized in the production of large electric generators for power plants, including atomic ones. Since the young specialist spoke German, he was transferred to the trade department of the plant. Here Timchenko began his career, and already in 1982 he moved to Moscow to the Ministry of Foreign Trade as a senior engineer at one of the departments of the ministry.
In 1988, when Russia began to liberalize its economy, he was appointed deputy director of the state-owned oil company Kirishineftekhimexport (Kineks), which was established in 1987 based on an oil refinery in Kirishi (Leningrad Region), one of the three largest refineries in RSFSR. Timchenko's team built the first routes for exporting some oil products from the USSR to Western countries, and Gennady Timchenko himself became one of the leading figures of the Russian (then Soviet) oil trade. Timchenko was in fact a pioneer in the sale to the West of liquid petroleum products, which allowed him to build ways of movement of commodity-cash flows in conditions of almost complete absence of competition, to establish promising ties with an eye to the market future.
And it was not long in coming. As soon as the USSR collapsed in 1991, Timchenko left Russia and was hired by Finland-based Urals Finland Oy, a company specializing in the import of Russian oil to Europe. He settled in Finland and became a citizen of this country.
This is where the adjustments to the period of adjustment were useful. Over the four years of work, Timchenko rose to the position of first deputy and then CEO of the company, which became known as International Petroleum Products Oy (IPP). And Gennady Timchenko did not forget about the family. His children, born in Finland, daughter and son, became its citizens.
This period of activity includes acquaintance with V. V. Putin, who at that time worked in the mayor's office of St. Petersburg. However, it is naive to believe that the state of Timchenko arose thanks to the patronage of the then modest Petersburg official. The conditions for the accumulation of his initial capital were created much earlier, in the late eighties. While in Finland, Timchenko continued to use the Kirishi Oil Refinery as a source for importing petroleum products to the West, especially since until 1994 he was listed as the head of Kinex.
Having accumulated money from the sale of Russian oil abroad, in 1996, in the course of the privatization, Timchenko and his partners bought Kinex. In 1997, the trading company Gunvor, specializing in oil trading, was founded on its basis. In addition to Timchenko, the Swedish businessman Torbjørn Turnvist became her second major shareholder. who inexplicably successfully bought Timchenko’s stake in the company in March 2014 the day before the start of actions against the latter and its assets of US sanctions.
In 2007, Timchenko founded the private investment fund Volga Resources. It gradually developed into the Volga Group investment group, which consolidated its Russian and international assets in the fields of energy, transport, infrastructure, financial services and the consumer sector.
In July 2013, he became a holder of the French Order of the Legion of Honor for organizing a permanent exhibition of Russian art in the Louvre, supporting the Russian Museum in St. Petersburg and helping chess players to hold the Alekhin Memorial tournament.
In March last year, after the Crimean referendum, the US Treasury listed Timchenko on the list of individuals identified as "members of the internal circle of the Russian leadership." Sanctions froze all the assets that he held in the United States, and banned him from entering the country.
In an interview with the Wall Street Journal, Timchenko reported that in 1999 he ceased to be a Russian citizen and received Finnish citizenship. In 2004, Helsingin Sanomat wrote that he acquired Finnish citizenship while residing in Geneva at that time. In October 2012, in an interview with the Russian edition of Forbes, Timchenko said that he was both a Russian and a Finnish citizen. In August last year, he stated in an interview with ITAR-TASS that he needed Finnish citizenship to travel abroad in the 1990s, when it was difficult to travel on a Russian passport, and that he never hid the presence of two passports. In the United States, the Treasury Department, in transferring individuals under sanctions in connection with the Crimean events of 2014, lists it as a citizen of Russia, Finland and Armenia.
Gennady Timchenko: state
He has a stake in various gas, transport and construction organizations. His holdings include the gas company Novatek, the petrochemical concern SIBUR Holding, the railway operator for the transportation of petroleum products Transoil, the construction corporation STG Group and the insurance corporation SOGAZ. He is considered one of the most influential Russian oligarchs, having close ties with Vladimir Putin, for which he was sanctioned by the United States as a punishment for joining Crimea to Russia. In response, Timchenko said: "You must be responsible for everything, even for friendship with the president." Until March of last year, he was one of the founders of the Gunvor Group, one of the largest international energy traders.
According to the Russian edition of RBC, in 2012 Timchenko’s assets were valued at $ 24.61 billion.
In addition to business assets, according to the media, he also owns a 341 m² property in Geneva, which is located on a plot of slightly more than 1 hectare of land. In accordance with the data of the Land Registry of Geneva, the purchase price of the property was SFR 8.4 million (at the time of purchase in 2001, about $ 11 million).
His income, according to the data of the Finnish tax authorities, increased tenfold from 1999 to 2001. In 2001, he declared income of EUR 4.9 million. Due to high taxes, Gennady Timchenko moved to Switzerland in 2002, but The last few years he lived in Russia.
Gennady Timchenko was a co-founder of the Gunvor Group Corporation, registered in Cyprus and operating in the trade and logistics of the international energy market. On March 19, 2014, he sold his stake in Gunvor to another co-founder. The sale was made the day before Timchenko entered the US sanctions list. The amount of the transaction was not disclosed.
In November 2014, the Wall Street Journal reported that the US Justice Department of the Eastern District of New York is considering charges of illegal transactions in which Gunvor Group bought oil from Russia from Rosneft and sold it to third parties through the US financial system. Gunvor issued a response statement on November 6 denying any crime.
In 2007, Gennady Timchenko founded the Luxembourg-based Volga Resources Foundation. The fund, which combines Timchenko’s assets, was renamed in June 2013 into the Volga Group investment group, which was represented at the International Economic Forum in St. Petersburg. He noted that over the next few years his group will focus on the development of infrastructure projects in Russia.
The group owns assets in the energy, transport and production infrastructure, as well as provides financial services, trades consumer goods and real estate. Her most famous investments are investments in the gas company Novatek and the petrochemical company Sibur.
Last April, Gennady Timchenko carried out the sale of a 49% stake in the Finnish company IPP Oy, which owned 99% of the Finnish aviation company Airfix Aviation. It was a small part of the Volga Group portfolio.
Volga Group was listed on the 2014 United States Treasury Department Sanctions List (OFAC - Foreign Assets Control Department).
Sports and Wellness Business
In July 2013, together with the brothers Boris and Arkady Rotenberg, Gennady Timchenko created the company Arena Events Oy, which bought 100% of the shares of the large sports hall in Helsinki Hartwall Areena. It also has a multi-storey parking with a capacity of 1, 421 private vehicles. The partners also bought a stake in the Jokerit club, whose team became the six-time Finland champion of the highest level of the Liiga hockey league. Consequently, the Jokerit were transferred to the Continental Hockey League in the season 2014-15 season, where they played in the Western Conference in the Bobrov Division.
Social activities and charity
What else is known Gennady Timchenko? His biography will be incomplete, if not to say a few words about his patronage of the arts. He is a member of the Board of Trustees of the Russian Geographical Society.
In 1998, he was one of the co-founders of the club of the ju-do "Yavara-Neva".
In 2007, Timchenko and the Klyuch charitable foundation were founded by the Surgutex company, which supports family orphanages in Leningrad, Tambov and Ryazan regions.
In 2008, the Neva Foundation was founded by the Neva Foundation in Geneva in order to support and finance cultural projects in Switzerland and Russia. The main focus of the work was a partnership with the Geneva Opera. The famous conductor of the St. Petersburg Philharmonic Yuri Temirkanov was his trustee.
In 2010, they themselves established the Ladoga fund. Its main activity was aimed at providing assistance to older people, as well as at restoring historical monuments, at supporting cultural projects and introducing technologies of modern medicine. Since September 2013, the Ladoga Foundation has been called the Elena and Gennady Timchenko Charitable Foundation. Reviews in the press indicate that its activities are consistent with the stated focus, and the founders of the fund finance it on a regular basis.
Timchenkr is a member of the board of trustees of the Jewish Museum and the Center for Tolerance in Moscow.
Sports and Hobbies
Timchenko lover to play and look at the game of tennis. Thanks to his previously owned Finnish company IPP, he has sponsored an open tennis tournament in Finland since 2000. According to some sources, he sponsored the Finnish national team in the Davis Cup and financed a number of Russian tennis players.
In April 2011, Timchenko became the pre-board of directors of the SKA Holding Company (St. Petersburg), replacing Alexander Medvedev. In May of the same year, as part of the new management structure of the club, he was appointed its president.
In July 2012, he replaced Vyacheslav Fetisov as Chairman of the KHL Board of Directors.
October 12, 2013 Timchenko received the French Order of the Legion of Honor. This award was the reason for the opposition Russian publicist and writer Andrei Piontkovsky to write in his blog on Echo of Moscow that "… awarding the criminal with the nickname Gangrene to the country's highest distinction covers the disgrace of the French state." One thing is not clear: from which finger Piontkovsky sucked this “gangrene”. Timchenko, of course, is not an angel, but he made his own capital not in the criminal environment, but among the Soviet party economic nomenclature, which took advantage of the “Gorbachev's” perestroika to accumulate its initial capital.
Can I chat with Timchenko on the web?
In an interview with ITAR-TASS on August 4, 2014, Timchenko stated that he did not use a computer, unlike his wife, Elena, who has her e-mail address. According to him, she receives up to one and a half hundred letters a day and tries to answer everything. Imagine how many letters Gennady Timchenko himself could receive! Contacts with him for this reason are not available to the general public.
It turns out that this oligarch is a very closed figure. In fact, this is a very convenient position, which Gennady Timchenko favorably occupied. Contacts, mail - all this carries the potential risks of leakage of information about his business, which in conditions of very acute competition can cause irreparable harm to him. That is why Timchenko is in no hurry to reveal himself to the public. However, if someone is eager to talk with him, then you can try to write to the Timchenko Foundation email address: