Richest BusinessRichest Billionaires
Net Worth:
$8.1 Billion
Aug 14, 1967 (56 years old)
Russian Soviet Federative Socialist Republic
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What is Sergei Galitsky's 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.

All net worths are calculated using data drawn from public sources. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. We welcome all corrections and feedback using the button below.
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