Mikhail Kalashnikov Net Worth

What is Mikhail Kalashnikov's Net Worth?

Mikhail Kalashnikov was a Russian general, writer, and inventor who had a net worth of $1.5 million. Mikhail Kalashnikov is best known for inventing the Avtomat Kalashnikova, also known as the AK-47. U

nfortunately, despite the fact that over 100 million AK-47s were manufactured during his lifetime, Mikhail did not make any substantial amount of money off his invention. He did NOT profit directly off the gun and merely earned a standard Soviet wage. Later in life he did own 30% of a marketing company called Marken Marketing International (MMI) which was run by his grandson. MMI held various intellectual property rights for licensing the Kalashnikov name to products such as knives, clothing and even an alcohol brand called Kalashnikov Vodka. Mikhail also earned a healthy annual income making personal appearances at arms shows around the world towards the end of his life. The family owned the trademark to the phrase "AK-47" until 2016 when a lawsuit handed the trademark to a government-owned defense manufacturer.

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Born in Kurya, Altai Krai, Russian SFSR in 1919, Mikhail Kalashnikov was drafted into the Red Army during the late '30s. He was made a tank mechanic thanks to his engineering background and soon began inventing new items for the Soviet military. He began crafting a new rifle, working on a submachine gun. During the '40s, Kalashnikov continued to design new weapons, including the Mikhtim, which became the basis for several prototype rifles, culminating in the release of the AK-47, which stands for Avtomat Kalashnikova Model 1947. Within two years, it was the Soviet Army's standard assault rifle. Kalashnikov continued to work in weapons design, though none of his future creations ever became as famous as the AK-47. By 2009, an estimated 100 million assault rifles had been created around the world. Kalashnikov was married twice, first to Ekaterina Danilovna Astakhova, and second to Ekaterina Viktorovna Moiseyeva. His second union lasted from 1921 until 1977 and produced four children during the '40s and '50s. Kalashnikov fell ill during late 2013 and died on December 23rd from a gastric hemorrhage in Izhevsk, Udmurtia, Russia. He was 94 years old.