Private ownership of the means of production has recently appeared in Russia. The privatization process began in the early 90s of the last century. Gennady Timchenko became one of those who received substantial assets under management and acquired ownership.
Starting conditions
Experts and analysts have long concluded that only a small fraction of the economically active population has the ability to do business. Not every civil servant will be able to lead a private company. Gennady Nikolayevich Timchenko is a prominent figure in the Russian establishment. About what companies and enterprises he owns, regularly reported on the pages of the magazine "Forbs". In turn, a businessman annually submits an income declaration to the Tax Inspectorate. Even by international standards, he is one of the wealthiest people on the planet.
The future investor and businessman was born on November 9, 1952 in a military family. Parents had to periodically change their place of residence, since the father was transferred from one garrison to another. The child grew and developed, as they say, on suitcases. For more than six years, Gennady lived in the German Democratic Republic. This time was enough for him to master the German language, spoken and literary, at a high level. After school, Timchenko decided to get a specialized education at the legendary Leningrad Military Mechanical Institute.
Professional activity
Having received his diploma in 1976, Timchenko, by assignment, began working at the famous Izhora plant. The company was engaged in the production of generators for nuclear power plants. Since the young specialist could communicate without a dictionary with partners from Germany, they began to entrust him with responsible assignments. The production career of the young specialist was favorable. Four years later, Gennady Nikolaevich was invited to the technical sector of the Ministry of Foreign Trade of the Soviet Union. Timchenko regularly made business trips to the countries of the Council for Mutual Economic Assistance.
After the liquidation of the Soviet Union, the restructuring of the economy to market principles began in Russia. The most significant process was the privatization of state property. In 1991, Timchenko worked at an oil refinery in the city of Kirishi, which is located near Leningrad. Using the opportunities provided, Gennady Nikolaevich and his partners established a company that supplied oil products to Finland. Over the next decade, he developed his businesses in the energy, transportation and consumer markets.
Recognition and privacy
For fruitful cooperation in the cultural sphere, Gennady Timchenko was awarded the French Order of the Legion of Honor. In turn, the US State Department added the name of the Russian businessman to the list of people who are subject to US sanctions.
The personal life of Gennady Timchenko was classic. He is legally married. The husband and wife raised and raised three children. Two daughters and a son received a decent education and live separately from their parents.
