Viktor Rashnikov

Viktor Rashnikov (born October 13, 1948) is a Russian businessman. He made his fortune (estimated at $8.3 billion in 2017) in the iron and steel industry, being the majority owner of Magnitogorsk Iron & Steel Works (MMK), one of the world’s leading steel producers.

According to Forbes 2017 billionaire list, Rashnikov's net worth was $8,3 billion, making him the 14th richest person in Russia, and the 156th richest person in the world. He owns Ocean Victory, the 10th largest yacht in the world.

The businessman got his start as a mechanic at the metals outfit back in 1967 and worked his way up. He built his ownership to nearly 100% by buying shares on the market, and he fought off takeover attempts by companies associated with fellow billionaire Iskander Makhmudov. When he faced shortages of iron ore, he and his partners bought one of the biggest iron ore deposits in Russia. In 2007 he took MMK public on the London Stock Exchange and pocketed $1 billion. He stepped down as chief executive of MMK in 2011 after 14 years. His youngest daughter, Olga, joined the board and the strategic planning committee a year later. Most of his fortune is still held in MMK shares.

The European Union punished Russian metallurgists for dumping


The products of Severstal, MMK and NLMK are more expensive in Russia than in Europe. It did not cause any questions among the Russian authorities, but the Europeans made themselves alert.

Expensive Russian steel


Russian metallurgists have grown rich by more than $1 billion in half a day.

Which Russian oligarch's yacht is longer?


What yachts the Russian oligarchs have. 

When length matters


How Roman Abramovich, Alisher Usmanov and other Russian billionaires buy and sell luxury yachts.

Melnichenko's mega-yacht was arrested in Gibraltar for a €15.3 million claim


The lawyers of Nobiskrug shipyard have filed a lawsuit against the customer of the yacht for breach of contract.

Shalva Chigirinsky is not a pedophile, but can still become bankrupt


The court in the United States closed the scandalous case of Shalva Chigirinsky. Now the businessman will focus on the lawsuits to Viktor Rashnikov in Cyprus. If he loses them, then the scandalous businessman will face bankruptcy.

Gref, Yevtushenkov and Rashnikova are united in venture capital investment


Sberbank and Rashnikova company invested 2 billion rubles in the venture capital fund of the AFC "System".

Alexander Chigirinsky eyes the property of Viktor Rashnikov


The Chigirinsky clan of scandalours developers confronted Viktor Rashnikov.

Chigirinsky brothers have nothing to lose but their debt


The crisis in the construction industry in Russia is far from being over; virtually all companies experience serious problems today, not excluding even the big players.

Chigirinsky brothers demand $217 million from the owner of Magnitka


They believe that Viktor Rashnikov and his partner bought their stake in the Moscow City projects at a price below the market.

Viktor Rashnikov copied Napoleon's library for his 118-room palace


There's a copy of the Emperor's cabinet and an Olympic-sized swimming pool in the businessman's mansion with a total area of 6,000 square meters.