Sergei Galitsky
Krasnodar, Russia
Bachelor of Arts/Science, Kuban State University
Russia
retail, Self Made
$3,400,000,000
617
#617 Billionaires 2019
Sergei Galitsky is the founder of Magnit, one of Russia's biggest supermarket chains and cosmetics retailers with more than 15,000 stores. Galitsky was CEO of Magnit until February 2018 when he sold almost all of his shares in the company to the state bank VTB for $2.4 billion.Galitsky got his start in 1994 as a perfume and beauty supplies wholesaler. An admirer of Wal-Mart, he opened his first grocery store in 1998 and advertised using the slogan "Always Low Prices."He took the company public in 2006.
Galitsky owns the soccer team Krasnodar and a soccer academy. He has invested about $460 million in a new soccer stadium nicknamed Galiseum by local journalists. Galitsky spent $70 million on a park near his soccer stadium, planting 500 trees and 800 rose bushes.With his brother-in-law, Galitsky owns a 173-acre winery that will soon be selling wine under the Galitsky & Galitsky label.
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