Viktor Rashnikov
Source of wealth: Steel
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The scale of their wealth
Health
The price of life
Let's compare Viktor Rashnikov's fortune with the healthcare spending of a massive country
Viktor Rashnikov could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 4.2 years.
But even if we compare their fortune with that of a rich country
On the other end, Viktor Rashnikov could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.9 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Viktor Rashnikov could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 2.7 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Viktor Rashnikov could pay for it entirely for 3.7 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Viktor Rashnikov could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 15.7 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Viktor Rashnikov with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.4 years.
Gold
Everyday luxuries
Viktor Rashnikov's fortune is equivalent to 64 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Viktor Rashnikov could buy 17,020,541 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 3 trucks to transport them. Although Viktor Rashnikov will almost certainly have enough money left over to pay for the gas.
Biography
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".
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison