Private ownership of the means of production has appeared in Russia recently. The privatization process began in the early 90s of the last century. Gennady Timchenko became one of those who received management and acquired solid assets.
Starting conditions
Experts and analysts have long concluded that only a small part of the economically active population has the ability to conduct business. Not every public servant will be able to lead a private company. Gennady Nikolayevich Timchenko is a prominent figure in the Russian establishment. What companies and enterprises he owns is regularly reported on the pages of Forbs magazine. In turn, the businessman annually submits a tax return to the Tax Inspectorate. Even by international standards, he is one of the wealthiest inhabitants of the planet.
The future investor and businessman was born on November 9, 1952 in the family of a military man. Parents had to periodically change their place of residence, as their father was transferred from one garrison to another. The child grew and developed, as they say, on suitcases. For more than six years, Gennady lived in the German Democratic Republic. This time was enough for him to master at a high level the German language, colloquial and literary. After school, Timchenko decided to get a specialized education in the legendary Leningrad Military Mechanical Institute.
Professional activity
Having received a diploma in 1976, Timchenko by distribution began working at the famous Izhora plant. The company was producing generators for nuclear power plants. Since the young specialist could communicate with partners from Germany without a dictionary, responsible assignments began to trust him. The production career of the young specialist was developing favorably. Four years later, Gennady Nikolayevich was invited to the technical sector of the Ministry of Foreign Trade of the Soviet Union. Timchenko regularly made business trips to the countries of the Council for Mutual Economic Assistance.
After the liquidation of the Soviet Union, the restructuring of the economy on market principles began in Russia. The most significant process was the privatization of state property. In 1991, Timchenko worked at a refinery in the city of Kirishi, which is located near Leningrad. Using the opportunities provided, Gennady Nikolayevich and partners established a company that supplied petroleum products to Finland. Over the next decade, he developed his business in the energy sector, in the transportation sector and in the consumer market.
