Gennady Timchenko Net Worth

Gennady Timchenko has an estimated net worth of $24.2 billion, according to Forbes Real-Time Billionaires, Gennady Timchenko profile (figures as of October 20, 2026). That is up from $20.1 billion in 2019.

Gennady Timchenko is a Russian businessman in the energy industry. He founded the private investment firm Volga Group and earlier co-founded the trading company Gunvor. His business interests include stakes in Novatek, a gas company, and Sibur Holding, a petrochemical producer. Before building his own investment group, he worked as an engineer, moved into foreign trade, and later ran a state-owned oil exporting company that was later privatized.

His wealth grew through oil and gas, trading, and large shareholdings in Russian companies. After working with oil exports in the 1990s, he became deputy and later CEO of International Petroleum Products Oy. In 1997, he co-founded Gunvor, which handled Russian oil trading and logistics. In 2007, he launched Volga Group to hold investments across energy, transport, infrastructure, financial services, and consumer businesses. He also remains active in hockey leadership roles.

How Gennady Timchenko built his fortune

Timchenko’s career started in 1977 at the Izhorsky plant near Saint Petersburg, where he worked as an engineer. He later moved into trade work and then held a senior engineering post with the Ministry of Foreign Trade from 1982 to 1988. As Russia’s economy opened up, he became deputy director of the state-owned oil company Kirishineftekhimexport. That role placed him in oil exports, a business that became the base for much of his later wealth.

In 1991, he joined a Finland-based oil importer, later called International Petroleum Products Oy, where he became deputy and then CEO. In 1997, he co-founded Gunvor with Torbjörn Törnqvist, building a business in energy trading and logistics. He sold his stake in 2014. Another major step came in 2007, when he founded Volga Group. Through that firm, he built holdings in Novatek and Sibur Holding, along with assets in transport, infrastructure, financial services, and consumer sectors.

Forbes net worth and money picture

Forbes estimated Timchenko’s net worth at $24.2 billion on its real-time billionaires tracker as of October 20, 2026. Forbes links his fortune to oil and gas and places him in the energy industry. A large part of his wealth comes from stakes in Russian businesses, especially Novatek and Sibur Holding. His path also included running a state-owned oil exporting company and later becoming one of its largest shareholders after privatization.

His money story is broader than public company stakes alone. Volga Group was created to hold Russian and international assets, with investments in energy, transport, infrastructure, financial services, consumer goods, and real estate. Forbes also notes other parts of his public profile, including leadership roles in the KHL and SKA Saint-Petersburg Hockey Club. Outside his core energy holdings, he has also been noted for growing apples in Russia.