A Kuban Businessman Is in the Forbes List
A founder and co-owner of the network Magnit Sergey Galitskiy took a 162nd place in the annual ranking of the most-affluent people according to American magazine Forbes as reported on the website of the edition.
Galitsky’s capital is estimated to be 8.3 billion USD.
Sergey Galitskiy, a founder and the General Director of Russia’s largest trading network "Magnit", engaged in the supply of perfumes and cosmetics in 1994. Based on the experience of Walmart and other industry leaders he opened his first store under the slogan "Always Low Prices" (Walmart’s slogan is "Low Prices Every Day") four years later. In 2006, "Magnit" provided an IPO, but Galitskiy is still the largest owner of the company with a share of 42%. It also invests in agriculture and advertising business. The billionaire owns a private jet, a yacht and the football club "Krasnodar".
In 2011, Sergey Galitskiy was awarded the title "Kuban Labor Hero" by the decree of the Governor of the Krasnodar region.