Sergey Galitsky net worth Wiki, Height, Biography, Wife, Children And Early Life
Sergey Galitsky net worth
Sergei Galitsky Net Worth: Sergei Galitsky (sometimes spelled Sergey Galitskiy) is a major Russian businessman with a net worth of $8.1 billion. Sergei Galitsky, born on August 14, 1967 in Lazarevsko, Russia, is the largest supermarket chain and cosmetics retailer in Russia. Just a year after graduating from Kuban State University’s Faculty of Economics in 1993, Galitsky set up a company called “Tander” to trade wholesale cosmetics and perfumes.
Five years later, he built the nation’s first distribution center, and today there are nine. Galitsky was also the one who opened the first grocery store “Magnit” in Krasnodar after the Russian crisis. The store’s success is largely due to its slogan “Always Low Prices,” which was inspired by Walmart’s “Everyday Low Prices.” By the early 2000s, he had turned to retail, building the largest network in Russia, and in April 2006, Sergey Galitsky took the company public at a then-valued $1.9 billion. Despite his decision to sell 8% of the company, Sergey Galitsky still holds 38% of his other investments in agriculture, development, tourism and advertising. Recently, he purchased a business jet, and he also has a yacht under construction.