Sergey Galitsky
Sergey Galitsky | |
|---|---|
| Born | Sergey Nikolayevich Arutyunyan August 14, 1967 Lazarevskoye district, near Sochi, Russia |
| Occupation | Entrepreneur |
| Known for | Founder and co-owner of Magnit; President of FC Krasnodar |
Sergey Nikolayevich Galitsky (; originally named Sergey Nikolayevich Arutyunyan) is a Russian billionaire entrepreneur, recognized as the founder and co-owner of Magnit, the largest retail chain in Russia, and serves as the president of FC Krasnodar. In 2021, his net worth was approximated at $3.5 billion according to Forbes Russia.
Early life
Galitsky was born on 14 August 1967 in the Lazarevskoye district near Sochi. He has both Armenian and Russian heritage and later adopted the surname of his wife. From 1985 to 1987, he fulfilled his mandatory service in the Soviet army.
Career
While still attending university in 1989, Galitsky started his career at a commercial bank in Krasnodar. He earned his degree from the Economics faculty at Kuban State University in 1993. The following year, he launched "Transasia," a wholesale business specializing in cosmetics and perfumes, but by 1995 he had moved on to create "Tander." After opening his initial distribution center in 1998, he established the first "Magnit" grocery outlet in Krasnodar following the financial crisis of that year. By 2000, he concentrated exclusively on retail operations, rapidly expanding to build Russia’s largest chain of stores by count. Magnit went public in 2006 with a market valuation of $1.9 billion.
In 2008, Galitsky founded FC Krasnodar and personally funded the construction of its stadium, completed by 2013. The adjacent park area, which was later enlarged, became a prominent city feature known as Galitsky Park.
In 2018, he divested a 29.1% ownership stake in Magnit to VTB Bank for 138 billion rubles. The next year, Galitsky ventured into winemaking with vineyards located near Gostagaevskaya in Krasnodar Krai, marketing wines under the label Galitsky & Galitsky.
Personal life
Galitsky was married to Viktoria Galitskaya; together they had one daughter named Polina Galitskaya. In June 2023, Russian media outlets reported Viktoria’s passing in Italy at age 51; however, Galitsky’s spokesperson declined to provide any comments.
According to a March 2022 report by Forbes, Galitsky owns the luxury megayacht Quantum Blue, valued at $213 million and registered in the Cayman Islands. Measuring 341 feet in length, it was tracked near Oman’s coast on March 22.