Viktor Rashnikov
Steel · Magnitogorsk
Net worth
$9.3B
Today
+$183+0.00%Past month
+$796K+0.01%As of Nov 11, 2026, 1:50 PM EST
Viktor Rashnikov is the majority owner of Magnitogorsk Iron & Steel Works (MMK). Rashnikov got his start as a mechanic at MMK back in 1967. He built his ownership in the company to nearly 100% by buying shares on the market. Rashnikov stepped down as CEO of MMK in 2011 after 14 years in the job. He was sanctioned by the EU and U.K. in March 2022. His youngest daughter, Olga, joined the board and the strategic planning committee in 2012. She resigned from the board in March 2022. In February 2022 Rashnikov transferred his shares of MMK from a Cyprus-registered company to Russian Altair LLC. In November 2022 he received the award Hero of Labour of the Russian Federation from Vladimir Putin "for special labor service for the country and people".
Net worth over time
Principal holdings
2 positions| Company | Industry | Share | Value |
|---|---|---|---|
Private and other holdings | Manufacturing | 61.0% | $5.7B |
Magnitogorsk Iron & Steel Works MICEX: MAGN-RU | Manufacturing | 39.0% | $3.6B |
Also known for
- Rashnikov was associated with a 460-foot, $240 million (estimated value) yacht named "Ocean Victory" but its ultimate ownership is currently unclear.
- A passionate hockey fan, Rashnikov has been president of hockey club Metallurg Magnitogorsk since 1999.