Sergei Galitsky

$3.32B

as of 10/04/24

About Sergei Galitsky

Sergei Galitsky is the founder of Magnit, one of Russia's biggest supermarket chains and cosmetics retailers with more than 28,000 stores in 2024.

Galitsky was CEO of Magnit until February 2018 when he sold almost all of his shares in the company to the state bank VTB for $2.4 billion.

Galitsky got his start in 1994 as a perfume and beauty supplies wholesaler.

An admirer of Wal-Mart, he opened his first grocery store in 1998 and advertised using the slogan "Always Low Prices."

He took the company public in 2006.

Personal stats

Citizenship

Russian Federation

Source of wealth

Retail

Residence

Krasnodar, Russian Federation

Marital status

Widowed

Birth date

08/14/67 (age 57)

Number of children

Education

Bachelor of Arts/Science, Kuban State University

Self-made

self-made

Sergei Galitsky’s fortune is worth

55K

troy ounces of gold

51K

median U.S. household

33K

median U.S. income

0.066%

U.S. credit card volume

0.013%

GDP of the United States

0.01%

United States debt

Net worth history

Annual ranking

Did you know?

With his brother-in-law, Galitsky owns a 173-acre winery that will soon be selling wine under the Galitsky & Galitsky label.