Early Life
Gennady Nikolayevich Timchenko was born on November 9, 1952, in Leninakan, Armenian SSR, Soviet Union (now Gyumri, Armenia). His father served in the Soviet military. During his childhood, he lived in the German Democratic Republic and the Ukrainian SSR. In 1976, he graduated from the Mechanical Institute of Saint Petersburg (then Leningrad) with a degree in electrical engineering.
Rise to Success
Timchenko's career began in 1977 as an engineer at the Izhorsky plant. He later worked in the Ministry of Foreign Trade. In 1988, he became Deputy Director of the state-owned oil company Kirishineftekhimexport. In 1991, he moved to Finland and worked for Urals Finland Oy, specializing in importing Russian oil to Europe. He later became a Finnish citizen. In 1997, Timchenko co-founded the global commodity trading company Gunvor with Torbjörn Törnqvist, which became a major player in the oil trade.
Key Business Strategies
Timchenko's business acumen is evident in his strategic investments and leadership roles. He founded the Volga Group, a private investment firm that holds assets in energy, transport, and infrastructure. He sold his stake in Gunvor in March 2014. Timchenko holds stakes in various Russian businesses, including Novatek (natural gas) and Sibur Holding (petrochemicals). He is known for his close relationship with Vladimir Putin.
Philanthropy
Timchenko, along with his wife Elena, founded the Timchenko Foundation. The foundation supports initiatives in culture, sports, and social projects, including programs for the elderly, youth, and the preservation of cultural heritage.