Galitsky Sergei Nikolaevich

Galitsky Sergei Nikolaevich

Biography

Harutyunyan Sergey Nikolaevich (surname at birth) was born on August 14, 1967. By nationality, Sergey is an Armenian, growing up in a middle-class family.

As a child, he was very fond of football, played a lot, but at the age of fourteen, in his own words, he realized that this was "not quite" him, and ended his "football career"^[1].

In the seventh or eighth grade, he became interested in playing chess, and for two years he studied them, becoming a candidate for master of sports and champion of Sochi.

In his student years, he worked as a loader.

In his third year, he wrote an analytical article in the profile journal Finance and Credit. The calculations made by the student amazed the editor of the publication and not only. After the publication of the article, the student was tracked down by the head of a commercial bank and invited to an interview. Sergei made an offer that he could not refuse - the post of deputy manager. From that moment on, Galitsky combined his studies and work in a bank.

So in 1989, he became a banker and grew to the deputy manager of the bank.

In 1993 he graduated from the Faculty of Economics and Planning of the National Economy of Kuban State University.

After the wedding, Sergey took the name of his wife. Journalists wrote that the father-in-law insisted on this, stating that his daughter and grandchildren would not bear the Armenian surname.

1993: $30,000 credit and founding of a cosmetics and household chemicals wholesale company

In 1994, he borrowed about $30 thousand and founded the Transasia company (a wholesale supplier of household chemicals and cosmetics) with classmates.

Soon the company became the exclusive distributor of Procter & Gamble in the Krasnodar Territory, but representatives of the world famous manufacturer of consumer goods subsequently demanded that a separate company distribute its goods. In 1995, it was decided to separate Transasia, and Galitsky took up the new Thunder company. Banker Alexei Bogachev also became its shareholder.

1998: Opening of the first self-service store

In 1998, he opened the first self-service store, the company began working in food retail. Gradually, retail space was merged into the Magnit network.

In 2005, Magnit's turnover reached $1.6 billion. According to this indicator, the company overtook one of its main competitors - the Pyaterochka network.

2006: IPO of the Magnit network

In April 2006, he led the company to an IPO, during which almost 19% of the shares were sold to investors for $368 million. The businessman's own share was 58%, and his partner Alexei Bogachev - 15%. Another 8% was transferred to a number of top managers. In the same year, Galitsky became the general director of the Magnit chain of stores, and Thunder was retrained as a management company.

In 2007, the first Magnit hypermarkets appeared.

2008: Purchase of Krasnodar Football Club

Since 2008 - the owner and president of the Krasnodar football club, playing in the Russian Premier League. Galitsky created and financed the children's football school "Krasnodar."

2009: Reduction of stake in Magnit to 39%

In 2008, Magnit began a secondary public offering (SPO). In the fall of 2009, Galitsky's share decreased to 39.6% (according to Vedomosti sources, this figure did not take into account depositary receipts (GDR) and shares that were in nominal holding in banks).

2010: Start of construction of FC Krasnodar stadium

In 2010, he began construction of the stadium and training base for Krasnodar, the project estimate is $85 million.

2011

24th in the Forbes ranking with a fortune of $5.5 billion

It ranks 24th in the ranking of the Russian-language version of Forbes "The Richest Businessmen of Russia - 2011"^[2]. The fortune of Sergei Galitsky is estimated at $5.5 billion.

Reduction of the share in the Magnit network to 38%

In December 2011, the retailer announced that during the third secondary placement of Magnit shares on the stock exchange, Galitsky's share was again eroded and amounted to 38.66%. In his interview with the Vedomosti newspaper, however, Galitsky emphasized that it was he who remained the owner of Magnit.

As of March 10, 2012, the Magnit chain included 93 hypermarkets, 224 cosmetics stores and 5029 convenience stores.

2013: Wealth rises to $13.8 billion

The largest increase in the state of 2013, according to Bloomberg, was shown by the founder of Magnit OJSC Sergey Galitsky. He made a fortune ^[3] $5.3 billion and now has $13.8 billion in assets^[3] by half^[3].

2018: Sale of the Magnit network to VTB Bank with 3% retention

In February 2018, it was announced that a 29.1% stake in the Magnit network was sold to VTB for 138 billion rubles. Galitsky remained a minority shareholder of Magnit, retaining 3% (at the beginning of 2018, he personally had 34.26% of the company).

2022: Sergey Galitsky's withdrawal from the co-owners

In April 2022, the ex-owner of Magnit, Sergei Galitsky, sold his entire stake in the investment company SN-Capital, which he founded in 2018. It is assumed that this decision could be the result of financial problems faced by the entrepreneur. Read more here.

2024: Reduction of the share in the SPP "South"

On June 28, 2024, it became known that the founder and former co-owner of the Magnit chain, Sergei Galitsky, significantly reduced his participation in the business of the manufacturer of sunflower oil and sauces SPP Yug in the Krasnodar Territory. Its share in the company decreased from 75% to 40%. Read more here.

Awards

In January 2006, gratitude and personal hours of the president were awarded Russia Vladimir Putin for the company's contribution to the country's economy.

In September 2011, the Governor of the Krasnodar Territory Alexander Tkachev awarded the title "Hero of Labor of the Kuban." In December of the same year, the Vedomosti newspaper called Galitsky "businessman of the year."

Family

• Wife Victoria Galitskaya.
• Daughter Polina Galitskaya.

Notes