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Viktor Rashnikov
Billionare who made fortune with Magnitogorsk Iron and Steel Works

Viktor Rashnikov

Viktor Rashnikov
The basics

Quick Facts

Intro Billionare who made fortune with Magnitogorsk Iron and Steel Works
A.K.A. Viktor Filippovich Rashnikov
Is Politician
From Russia Russia
Field Politics
Gender male
Birth 13 October 1948, Magnitogorsk, Chelyabinsk Oblast, Russia
Age 73 years
Star sign Libra
Politics United Russia
The details (from wikipedia)


Viktor Rashnikov (born October 13, 1948) is a Russian businessman and politician. He made his fortune (estimated at $3.6 billion in 2015) in the iron and steel industry, with the Magnitogorsk Metallurgical Enterprise, and was elected three times to the regional legislature.

According to Forbes world billionaires list, Rashnikov was ranked as the 407th richest man in the world in 2016 and he owns Ocean Victory, the 10th largest yacht in the world.


Rashnikov received his doctorate in Technical Sciences in 1998, having previously received degrees in engineering related fields from the Magnitogorsk Institute of Mining and Metallurgy. In 1974, Rashnikov achieved his first degree having studied the field of Metal Forming Process. He later gained another degree in Organization of Production Administration, graduating from that program in 1994.

Following the completion of his studies, Viktor Rashnikov went on in 2002 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.


Rashnikov first began his career with the Magnitogorsk Iron & Steel Works (MMK) in the company’s repair shop as a fitter in 1967. During this period, up through 1991, Rashnikov advanced through a number of management positions at MMK, including that of Head of Production and Products Supply. Then, 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 gaining control of the company in 2005 as its Chairman of the Board.

Leadership at MMK

Having worked his way up through various positions at MMK since he began there in 1967, Viktor Rashnikov was able to attain near complete control of the company through the purchase of shares on the market. It was under Rashnikov’s tenure as Chief Executive Officer in 2007 that MMK became a publicly traded company on the London Stock Exchange.

During his time as Chairman of the Board, Rashnikov faced a number of challenges to his leadership of the company. The attempts to wrest control were noted to have come primarily from Iskander Makhmudov.

In 2011, after 44 years of intense involvement with the operations of MMK, Rashnikov left the position of CEO, but remains the chairman.

Personal life

Rashnikov is married and has two children.

The contents of this page are sourced from Wikipedia article. The contents are available under the CC BY-SA 4.0 license.
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