Gennady Timchenko

$24.17 B

Ranked #97 in World

About Gennady Timchenko

Gennady Timchenko, born in 1952, emerged as a preeminent figure in global commodity trading, notably co-founding Gunvor Group. A graduate of the Mechanical Institute of Saint Petersburg, he cut his teeth in engineering before turning to the lucrative oil trade. With Finnish citizenship, Timchenko advanced through ranks to lead International Petroleum Products Oy, diversifying his portfolio through the Volga Group and backing the Redut PMC. Suffering sanctions post-Crimea's annexation, he’s scrutinized by U.S. authorities amidst a sporting and philanthropic presence.

Born

November 09, 1952

Age

73 years

Source Of Wealth

Oil, Gas

Industries

Energy

Citizenship

Russia

Residence

Moscow

Education

Master of Science in Engineering, Leningrad Mechanical Institute

Gennady Nikolayevich Timchenko was born on November 9, 1952, in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia). His father, Nikolai Timchenko, served in the Soviet military during World War II. Timchenko spent six years of his childhood in the German Democratic Republic and the Ukrainian SSR before returning to Leningrad (now Saint Petersburg).

Gennady Timchenko: Family

Gennady Timchenko is married to Elena Timchenko, and they have three children together. The family resides in Switzerland, while Gennady Timchenko primarily lives in Moscow.

Gennady Timchenko: Career Highlights

Timchenko's career spans several decades, with notable highlights including:

Working as an engineer for the Izhorsky plant near Saint Petersburg, specializing in building power generators.
Holding various positions within the Ministry of Foreign Trade, including Senior Engineer.
Becoming Deputy Director of the state-owned oil company Kirishineftekhimexport in 1988.
Moving to Finland and joining Urals Finland Oy in 1991, specializing in importing Russian oil to Europe.
Becoming a Finnish citizen and later serving as Deputy and CEO of International Petroleum Products Oy (IPP OY), the renamed Urals Finland Oy.
Co-founding the global commodity trading company Gunvor with Swedish businessman Torbjörn Törnqvist in 1997.
Selling his stake in Gunvor to Törnqvist in March 2014, anticipating potential economic sanctions.
Founding the Volga Group (Volga Resources Group) private investment fund in 2007, which holds his Russian and international assets.

Gennady Timchenko: Companies

Gennady Timchenko has been involved with several companies throughout his career, including:

Izhorsky plant
Ministry of Foreign Trade
Kirishineftekhimexport
Urals Finland Oy
International Petroleum Products Oy (IPP OY)
Gunvor Group
Volga Group (Volga Resources Group)
Redut PMC
Airfix Aviation

Gennady Timchenko: Major Achievements

Timchenko's major achievements include:

Co-founding Gunvor Group, a corporation involved in trading and logistics related to the international energy market.
Establishing the Volga Group, a Luxembourg-based fund focused on developing infrastructure projects in Russia.
Owning assets in various sectors, including energy, transportation, infrastructure development, financial services, consumer goods, and real estate.

Serving as Chairman of the Board of Directors and President of SKA Saint Petersburg ice hockey club.
Holding the position of Chairman of the Board of Directors of the Continental Hockey League (KHL).

Gennady Timchenko: Awards & Achievements

Timchenko has received several awards and recognitions, including:

Appointed as a Chevalier of the Légion d'honneur in 2013 for contributions to Russian art and chess.

Gennady Timchenko: Personal Life & Legacy

Gennady Timchenko is known for his passion for sports, particularly tennis and ice hockey. He sponsors tournaments and teams and holds leadership positions in sports organizations. Timchenko also supports the development of ice hockey and chess among young people.

Gennady Timchenko: Trivia

Here are some interesting facts about Gennady Timchenko:

Timchenko holds Russian, Finnish, and Armenian citizenships.
He is one of the wealthiest people in Russia and the world, with an estimated net worth of $23.1 billion as of June 2022.
The U.S. Attorney's Office for the Eastern District of New York is investigating allegations about transactions involving Gunvor Group and Rosneft.

Wealth History

Timeline

1952

Gennady Nikolayevich Timchenko is born in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia).

1976

Timchenko graduates from the Mechanical Institute of Saint Petersburg as an electrical engineer.

1982

Timchenko begins working as a senior engineer with the Ministry of Foreign Trade.

1988

Timchenko is promoted to Deputy Director of state-owned oil company Kirishineftekhimexport.

1991

Timchenko leaves Russia and is hired by Finland-based company Urals Finland Oy, specializing in importing Russian oil to Europe.

1995

Urals Finland Oy is renamed International Petroleum Products Oy (IPP); Timchenko becomes deputy and later CEO of IPP OY.

1997

Timchenko co-founds the global commodity trading company Gunvor with Swedish businessman Torbjörn Törnqvist.

2007

Timchenko founds the Volga Group (Volga Resources Group) private investment fund.

2013

Volga Resources is renamed Volga Group.

March 2014

Timchenko sells his stake in Gunvor to Torbjörn Törnqvist, a day before U.S. sanctions begin.

April 2014

Timchenko sells a 49% stake in IPP Oy, which owned 99% of Finnish aviation company Airfix Aviation.

June 2022

Timchenko's net worth is estimated at $23.1 billion, making him the 64th richest individual globally according to Forbes magazine.

Gennady Timchenko : FAQs

What is Gennady Timchenko's current net worth?

Gennady Timchenko's current net worth is $24.17 billion.

What is Gennady Timchenko's current global rank among billionaires?

Gennady Timchenko holds the 97th position globally among billionaires.

What is Gennady Timchenko's current ranking within the Russia?

Gennady Timchenko holds the 7th position in Russia.

What was the change in Gennady Timchenko's net worth compared to the previous year?

Gennady Timchenko's net worth increased by 943.98 million dollars compared to the previous year 2025, when his net worth was 23.22 billion dollars.

What are Gennady Timchenko's main sources of wealth?

Gennady Timchenko's main source of income comes from Oil, Gas.

In which industry does Gennady Timchenko primarily operate?

Gennady Timchenko is primarily involved in the Energy industry.

What is Gennady Timchenko educational background?

Gennady Timchenko holds a Master of Science in Engineering from Leningrad Mechanical Institute.

How old is Gennady Timchenko?

Gennady Timchenko is 73 years old.

How many children does Gennady Timchenko have?

Gennady Timchenko has 3 children.

What was Gennady Timchenko's early life like and where was he educated?

Gennady Timchenko was born in the Soviet Union in 1952. His father served in the military during WWII. He spent six years of his childhood living in East Germany and Ukraine and earned an electrical engineering degree from the Mechanical Institute of Saint Petersburg in 1976.

How did Gennady Timchenko start his career and what led to the formation of Gunvor?

Timchenko began his career as an engineer at the Izhorsky plant. He then worked as a senior engineer at the Ministry of Foreign Trade from 1982 to 1988 before being promoted to Deputy Director at Kirishineftekhimexport. He left Russia in 1991, worked for Urals Finland Oy, and eventually co-founded global commodity trading company Gunvor in 1997.

What services does Redut PMC provide and what is its connection to Gennady Timchenko?

Redut PMC is a Russian private military and security company co-backed by Timchenko. Redut provides security services for Timchenko's companies, including deploying snipers, pioneers, and guards, and protecting convoys and corporate real estate.

Can you describe Gennady Timchenko's venture, the Volga Group?

Founded by Timchenko in 2007, the Volga Group is a private investment fund based in Luxembourg, focusing on infrastructure projects in Russia and holding assets in energy, transport, infrastructure development, financial services, consumer goods, and real estate.

What are the ramifications of the sanctions against Gennady Timchenko?

In March 2014, the U.S. Treasury placed Timchenko on the Specially Designated Nationals List, which froze his assets in the U.S. and barred him from entering the country. He's also faced sanctions from the UK, EU, Canada, and Italy due to the annexation of Crimea and the invasion of Ukraine.