Viktor Rashnikov
{{short description|Russian billionaire businessman (born 1948)}}
{{Infobox person
| name = Viktor Rashnikov
| image = Rashnikov.jpg
| caption = Rashnikov in 2005
| native_name = Виктор Рашников
| native_name_lang = ru
| birth_name =
| birth_date = {{Birth date and age|1948|10|13}}
| birth_place = Magnitogorsk, USSR (now Russia)
| death_date =
| death_place =
| nationality = Russian
| education = Magnitogorsk Institute of Mining and Metallurgy
| occupation = Chairman, Magnitogorsk Iron and Steel Works
| spouse = married
| children = 2
| parents =
| relatives =
| awards = {{plainlist |
- 35px Order "For Merit to the Fatherland" (2nd class)
- 35px Order "For Merit to the Fatherland" (3rd class)
- 25px Order "For Merit to the Fatherland" (4th class)
- 25px Order of Honour
}}
| website =
| known for =
}}
Viktor Filippovich Rashnikov (born October 13, 1948) is a Russian billionaire businessman. An oligarch, he made his wealth (estimated at $9.1 billion in February 2019) in the iron and steel industry, being the majority owner of Magnitogorsk Iron & Steel Works (MMK), one of the world's leading steel producers.{{Cite web|url=https://www.worldsteel.org/en/dam/jcr:0474d208-9108-4927-ace8-4ac5445c5df8/World+Steel+in+Figures+2017.pdf|title=WORLD STEEL IN FIGURES 2017|date=2017-07-20|archive-url=https://web.archive.org/web/20180518130144/https://www.worldsteel.org/en/dam/jcr:0474d208-9108-4927-ace8-4ac5445c5df8/World+Steel+in+Figures+2017.pdf|archive-date=2018-05-18|url-status=dead}}
He owns Ocean Victory, at the time of her construction the 10th largest yacht in the world.{{cite web|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11483947 |title=The largest superyacht to visit Auckland - Business - NZ Herald News |publisher=Nzherald.co.nz |date=2015-07-20 |access-date=2017-04-27}}
Following Russia's invasion of Ukraine, Rashnikov and MMK were placed on sanctions lists by the USA, UK and EU.{{Cite web |title=Inside Putin's inner circle: Meet the 38 Russian oligarchs cut off by sanctions |url=https://www.businessinsider.in/politics/world/news/inside-putinaposs-inner-circle-meet-the-38-russian-oligarchs-cut-off-by-sanctions/slidelist/90360746.cms |access-date=2022-03-22 |website=Business Insider}} In September 2022, Hungary sought to have Rashnikov dropped from the EU's list.{{cite news | url=https://www.rferl.org/a/hungary-russia-sanctions-eu-oligarchs-usmanov-rashnikov-aven/32022606.html | title=Hungary Said to Have Dropped Demand to Remove Three Russian Oligarchs from Sanctions List | newspaper=Radiofreeeurope/Radioliberty | last1=Jozwiak | first1=Rikard }}
Education
In 1974, Rashnikov earned a bachelor's degree in metal forming process at the Magnitogorsk Institute of Mining and Metallurgy.{{Cite web|url=http://eng.mmk.ru/corporate_governance/the_structure_of_government/board_of_directors/1231/|title=Chairman of OJSC MMK's Management Board|website=eng.mmk.ru|language=ru|access-date=2017-07-20}} He later gained another degree in Organization of Production Administration, graduating from that program in 1994.{{cite web|url=http://in.reuters.com/finance/stocks/officerProfile?symbol=MAGN.MM&officerId=897191|archive-url=https://web.archive.org/web/20141006090615/http://in.reuters.com/finance/stocks/officerProfile?symbol=MAGN.MM&officerId=897191|url-status=dead|archive-date=2014-10-06|title=Magnitogorskiy metallurgicheskiy kombinat OAO (MAGN.MM)|website=Reuters}}
Rashnikov received his doctorate in Technical Sciences in 1998. In addition to writing many research papers and scientific reports,{{Cite web|url=https://elibrary.ru/defaultx.asp|title=eLIBRARY.RU - НАУЧНАЯ ЭЛЕКТРОННАЯ БИБЛИОТЕКА|access-date=2017-07-20}} he has implemented numerous engineering solutions.{{Cite news|url=http://www.richestrussian.com/1-100/viktorrashnikov/|title=Viktor Rashnikov - Richest Russian|work=Richest Russian|access-date=2017-07-20|language=en-US}}
In 2002 he was elected to the position of Honored Professor at the Moscow Institute of Steel and Alloys. Additionally, he holds a role at the Russian Academy of Quality Problems as an Academician.
Career
Rashnikov first began his career with the Magnitogorsk Iron & Steel Works (MMK) in the company's repair shop as a fitter in 1967.{{cite web|url = http://richestrussian.com/1-100/viktorrashnikov/|title = Viktor Rashnikov (Виктор Рашников)|website = Richest Russian}} Since then, up through 1991, Rashnikov advanced through a number of management positions at MMK, including that of Head of Production and Products Supply. In 1991, he was made Chief Engineer and First Deputy General Director for the firm. In 1997, Viktor Rashnikov succeeded in rising to the role of General Director at MMK, before finally becoming in 2005 its chairman of the board.
Leadership at MMK
Having worked his way up through various positions at MMK, Viktor Rashnikov was able in the 90's to attain near complete control of the company through the purchase of shares on the market (87.26% as of May 2017{{Cite web|url=http://eng.mmk.ru/for_investor/briefly_about_the_company/|title=MMK in Brief|website=eng.mmk.ru|language=ru|access-date=2017-07-20}}).
The results of Rashnikov's leadership at MMK are described by some as "impressive",
"By 2007, 10 years after Mr. Rashnikov became director, MMK doubled steel production from 6m to 12m tonnes a year."
"Steel king with magnetic effect",{{Cite web |last=Clover |first=Charles |date=2008-08-10 |title=Steel king with magnetic effect |url=https://www.ft.com/content/65a6fb22-6555-11dd-a352-0000779fd18c?mhq5j=e3 |url-access=subscription |access-date=2017-07-20 |website=Financial Times}} Financial Times, 2008.It was under Rashnikov's tenure as chairman of the board of directors in 2007 that MMK became a publicly traded company on the London Stock Exchange.{{cite web|url = https://www.forbes.com/profile/viktor-rashnikov/|title = The World's Billionaires|website = Forbes}}
He implemented a full-scale investment program including modernization of five blast furnaces, construction of an oxygen unit, construction of electric arc furnace facilities, construction of thick-plate Mill 5000 and the cold-rolling Mill 2000 complex.{{Cite web|url=http://eng.mmk.ru/upload/iblock/596/MMK01_Cap_Markets_Day_ENG_Final.pdf|title=Capital Markets Day of MMK in London, 2017|date=2017-07-20}} In 2000–2016, total investments of the company amounted to $13 billion, including about $10 billion in MMK's development.{{Cite news|url=http://en.kremlin.ru/events/president/news/53351#sel=2:17:Zqr,2:42:ml3|title=Meeting with Magnitogorsk Iron and Steel Works CEO Viktor Rashnikov|work=President of Russia|access-date=2017-07-20|language=en}}
Philanthropic activities
Viktor Rashnikov annually allocates about $25 million to the company's social and charitable pursuits,{{Cite news|url=http://en.kremlin.ru/events/president/news/53351#sel=12:68:Z2j,12:77:lx8|title=Meeting with Magnitogorsk Iron and Steel Works CEO Viktor Rashnikov|work=President of Russia|access-date=2017-07-20|language=en}} including:
File:Church of the Ascension of Christ (Magnitogorsk) 10.jpg
He also built sophisticated medical facilities and two ski resorts in the nearby Urals.
Due to MMK's environmental activities, total emissions had been reduced by 37.5% and the specific emissions by 47.4%. In 2011–2016, environmental spending of the company averaged 3.5-4 billion rubles per year.{{Cite news|url=http://en.kremlin.ru/events/president/news/53351|title=Meeting with Magnitogorsk Iron and Steel Works CEO Viktor Rashnikov|work=President of Russia|access-date=2017-07-20|language=en}} The company recently adopted a long-term environmental program through 2025, with funding of more than $600 million.{{Cite web|url=http://eng.mmk.ru/press_center/70540/|title=ММК to invest over RUB 35 bln in environmental initiatives by 2025|website=eng.mmk.ru|language=ru|access-date=2017-07-20}}
Rashnikov's contribution to social development of Magnitogorsk is recognized by the Russian government.{{Cite web|url=http://archive.premier.gov.ru/eng/events/pressconferences/8412/|title=ARCHIVE OF THE OFFICIAL SITE OF THE 2008-2012 PRIME MINISTER OF THE RUSSIAN FEDERATION VLADIMIR PUTIN - Events|website=archive.premier.gov.ru|access-date=2017-07-20}} December 3, 2009
Metallurg Magnitogorsk
Rashnikov is the owner and the president of Metallurg Magnitogorsk ice hockey team. Since he took over in 1993, the team worked up a reputation as one of the top Russian teams of the new era.{{Cite web|url=http://www.metallurg.ru/club/fame/336659/|title=Зал Славы ХК "Металлург" (Магнитогорск)|website=www.metallurg.ru|access-date=2017-07-21}}
With the support of Rashnikov and MMK, in 2006 on the bank of the Ural River a modern ice palace with a capacity of more than 7,500 people was built (the investments amounted to $50 million{{Cite web|url=http://www.forbes.ru/forbes/issue/2006-05/14557-zdes-zhivet-milliarder|title=Здесь живет миллиардер|website=www.forbes.ru|date=2 May 2006 |access-date=2017-07-21}}). The Arena Metallurg stadium is the base of the Metallurg ice hockey club, as well as the junior ice hockey team Stalnye Lisy (Steel Foxes).{{cite web |url=https://superfan.ru/stadiums/europa/Russia/arena-metallurg/ |title=Arena Metallurg (profile) |publisher=Superfan |access-date=March 19, 2025}}
Personal life
Rashnikov was born to a Russian family. He is a Russian Orthodox Christian. He has two daughters.{{cite web|title=Forbes profile: Viktor Rashnikov|url=https://www.forbes.com/profile/viktor-rashnikov/|website=Forbes|access-date=27 February 2019}} He owns a Gulfstream G650 registered VP-BOT (operated by Jet Aviation Business Jets) and previously owned a Bombardier Global 5000 registered VP-BJN.{{Cite web|title=Viktor Rashnikov changed the business jet {{!}} Business {{!}} RusLetter|url=http://rusletter.com/articles/viktor_rashnikov_changed_the_business_jet|access-date=2021-08-09|website=rusletter.com}}
References
External links
- [http://eng.mmk.ru/index.php Magnitogorsk Iron and Steel Works]
- [http://www.metallurg.ru/ Metallurg Magnitogorsk]
{{Authority control}}
{{DEFAULTSORT:Rashnikov, Victor}}
Category:Businesspeople in steel
Category:People from Magnitogorsk
Category:Russian individuals subject to European Union sanctions