Sergey Galitsky Net Worth

How much is Sergey Galitsky Worth?

in Richest BusinessmenRichest Billionaires
Sergey Galitsky net worth:
$8.1 Billion

Sergei Galitsky Net Worth: Sergei Galitsky (sometimes spelled Sergey Galitskiy) is a major Russian businessman who has a net worth of $8.1 billion. Born on 14 August 1967, in Lazarevskoe, Russia, Sergei Galitsky is the biggest supermarket chain and cosmetics retailer in Russia. Only a year after his graduation from the Economics Faculty of Kuban State University in 1993, Galitsky set up a company named "Tander" that dealt with trading wholesale cosmetics and perfumery. Five years later, he formed the first distribution center in the country, whereas today there are nine. Right after the crisis in Russia, Galitsky was also the one to open the first grocery store, "Magnit", in Krasnodar. The success of the store was mainly because of its slogan "Always Low Prices," which was inspired by Wal-Mart's "Everyday Low Prices." By the beginning of the 21st century, he turned to retail creating the largest network in Russia, in terms of number of stores. Sergei Galitsky took the company public in April 2006, when it was valued at $1.9 billion. Even though he decided to sell an 8% stake of the company, Sergey Galitsky is still the holder of a 38% stake, among his other investments in agriculture, development, tourism and advertising. Most recently, he purchased a business jet, plus, he has a yacht under construction.

Sergey Galitsky Net Worth

Sergey Galitsky

Date of Birth
Aug 14, 1967 (49 years old)
All net worths are calculated by applying a proprietary algorithm. The results are then fact checked and confirmed by a team of editors. We scan all publicly available data and resources and work diligently to ensure that our numbers are the most accurate and up to date net worth data you will find anywhere on the internet.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
Discussion