Gennady Timchenko, a Russian oligarch and multibillionaire businessman, was born on November 9, 1952. The Volga Group is a private investment company that he started and owns. 

He had previously shared ownership of Gunvor Group. Vladimir Putin and Timchenko have been close friends since the early 1990s. Putin authorised Timchenko to export oil in 1991. Later, Timchenko established Gunvor, which went on to export Russian oil valued at billions of dollars. The massive natural gas company Novatek is a key shareholder in Timchenko’s investing company Volga Group. A Timchenko business, which was a significant player in the Novatek venture, was found to have gotten huge loans through covert offshore shell firms, according to the Pandora Papers disclosures. 

Timchenko was punished for both Russia’s invasion of Ukraine in February 2022 and its annexation of Crimea in 2014. Timchenko was the 6th richest person in Russia back in March 2022 and was ranked 205th on the Bloomberg Billionaires Index as he had an estimated net worth of US$10.3 billion. He is well-known for holding the positions of President of the SKA Saint Petersburg ice hockey team and Chairman of the Board of Directors of the Kontinental Hockey League. He holds citizenship in Finland, Russia, and Armenia.

Gennady Timchenko Bio/Wiki

Birth Name	Gennady Timchenko
Nick Name	Gennady Timchenko
Age	71 years (as in 2023)
Religion	Christianity
Sun Sign/Zodiac Sign	Scorpio
Birth Place	Leninakan, Armenian SSR
Date of Birth	9 November 1952
Nationality	Russian, Armenian, Finnish
Hobbies	Playing and watching tennis
Family
Mother's Name	NA
Father's Name	Nikolay Timchenko
Brother	NA
Sister	NA
Girlfriends/Affairs
Affairs/Girlfriends	None
Marital Status, Wife and Children
Wife/Spouse
Children	Sergey Timchenko, Xenia Frank
Education
School	NA
College/University	ITMO University (1976)
Profession	Businessperson, Trader
Height, Weight, and Figure Measurements
Height (Approx.)	6 feet
Weight (Approx.)	78 kgs
Extra Ordinary Features
Race / Ethnicity	Armenian/Russian
Hair Color	Gray
Eye Color	Black
S*xual Orientation	Straight
Favourite Things
Favourite Food	Mutton
Favourite Book	NA
Favourite Colors	Gray
Favourite Sport	Tennis
Controversies	Sanctions on him owing to the Russian-Ukraine war as he is one of the oligarchs suspected to be backing Putin

Early life and Education

Timchenko was born in 1952 in Leninakan, Armenian SSR (now Gyumri, Armenia), Soviet Union. His father participated in World War II as a member of the Soviet military. He lived in the Ukrainian SSR and the German Democratic Republic for six of his formative years (1959 to 1965) when he also learned German.

He earned his electrical engineering degree from the Mechanical Institute of Saint Petersburg, which was then known as Leningrad, in 1976, according to a 2008 Wall Street Journal interview.

Gennady Timchenko Personal life

Elena is the wife of Timchenko. They are parents of three kids. Timchenko’s family is still based in Switzerland, while he currently resides in Moscow, Russia. Putin’s former transport minister Sergei Frank’s son Gleb is married to Ksenia, his daughter. Timchenko said in an interview with The Wall Street Journal that he had up his Russian citizenship and became a Finnish citizen in 1999. 

Helsingin Sanomat reported in 2004 that he had obtained Finnish citizenship and had been residing in Geneva at the time. Timchenko stated that he was a citizen of both Russia and Finland in an interview with the Russian edition of Forbes in October 2012. In an interview with ITAR-TASS in August 2014, Timchenko said that he required Finnish citizenship in the 1990s when it was more difficult to travel with a Russian passport and that he never tried to hide the fact that he had two passports.

He said that for the previous fourteen years, he had paid taxes in Finland and Switzerland. “I carefully transmit the money I owe to the Russian budget to Russia. Theoretically, I could have reduced the transfers by invoking the prohibition against dual taxation, but I never did this since I was aware that the revenues were being used to pay Russian physicians, teachers, and members of the military while I was in no way going bankrupt. If I shared the budget with others, I wouldn’t go hungry.”

He is included as a citizen of Russia, Finland, and Armenia in the US Department of Treasury statement of those subject to sanctions as a result of the 2014 Crimean crisis.

Gennady Timchenko Awards 

In 2013, he received the title of Chevalier of the Légion d’honneur in recognition of his work on the Alekhine Memorial Chess Tournament, assistance for the Russian Museum at Saint Petersburg, and establishment of a permanent display of Russian art in the Louvre. Andrey Piontkovsky, a political writer from Russia, claimed that “awarding a criminal with the moniker Gangrene the highest accolade brings humiliation to the French state” in response to this honour.

Gennady Timchenko Family

Elena is the wife of Timchenko. They are parents of three kids. Timchenko’s family is still based in Switzerland, while he currently resides in Moscow, Russia. Putin’s former transport minister Sergei Frank’s son Gleb is married to Ksenia, his daughter.

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Professional Career

Timchenko began working as an engineer at the Izhorsky factory, a power generator manufacturer close to Saint Petersburg, in 1977. He was then transferred to this state-owned company’s trading division. He served as a senior engineer for the Ministry of Foreign Trade from 1982 until 1988. He was elevated to Deputy Director of the state-owned oil corporation Kirishineftekhimexport in 1988, as Russia began to liberalise its economy.

Kirishineftekhimexport was founded in 1987 on the foundation of the Kirishi refinery, one of the three biggest refineries in the RSFSR. Timchenko made the decision to leave Russia in 1991, and Urals Finland Oy, a firm established in Finland that specialised in bringing Russian oil to Europe, recruited him. He resided in Finland and attained Finnish nationality. 

Timchenko served as Anatoly Sobchak and Vladimir Putin’s conduit while Sobchak was exiled. International Petroleum Products Oy (IPP) replaced Urals Finland Oy as the company’s name in 1995, and Timchenko was appointed as IPP OY’s first deputy and later CEO. In 1997, he and Swedish entrepreneur Torbjörn Törnqvist co-founded the international commodities trading firm, Gunvor.

A day before the US penalties in March 2014, he sold Törnqvist his interest. Timchenko established the private investment fund known as the Volga Group (Volga Resources Group) in 2007. The energy, transportation, infrastructure, financial services, and consumer sectors are where the Volga group keeps its assets in the domestic and foreign markets.

Gunvor

Timchenko and Torbjörn Törnqvist co-founded the Cyprus-registered Gunvor Group, a company engaged in trading and logistics pertaining to the global energy industry. Timchenko sold his shares in Gunvor to the other co-founder, Torbjörn Törnqvist, on March 19, 2014.

The transaction took place the day before Timchenko was added to the US sanctions list following Russia’s annexation of Crimea. Timchenko said he sold his interest to “certainly secure the continuing and continuous operations of Gunvor Group” and to prepare for “possible economic penalties.” The transaction’s value was not made public.

Group Volga

Timchenko established the Volga Resources fund in Luxembourg in 2007. At the Saint Petersburg International Economic Forum in June 2013, the fund, which combines Timchenko’s holdings, was renamed Volga Group. He said that in the upcoming years, his organisation will concentrate on the growth of infrastructure projects in Russia.

This fund’s objective is to “invest directly and indirectly in value-driven assets in Russia and abroad that generate reliable, long-term returns.” Financial services, consumer products, real estate, and infrastructure development are among the industries in which the firm has investments. Its largest stakes are in the petrochemical business Sibur and the gas company Novatek.

Aviation by Airfix

Timchenko sold a 49 per cent share in IPP Oy, a Finnish corporation that held 99 per cent of the Finnish aviation firm Airfix Aviation, in April 2014. It constituted a little portion of the Volga Group’s holdings. International sanctions were imposed on Timchenko as a result of Russia’s invasion of Crimea in April 2014.

Sanctions have been placed on IPP Oil Products, a company with significant ties to Timchenko in Cyprus. Timchenko’s partner Kai Paananen (Russian: а аананeн) is intimately linked to both the IPP and Airfix Aviation businesses. In the 2014 Ukraine-related sanction lists, the US Department of Treasury’s Office of Foreign Assets Control has designated Volga Group as an SDN (specially Designated Nationals).

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Philanthropic activities

Timchenko helped create the Yawara-Neva Judo Club in 1998. Timchenko and the business Surgutex established the Kluch humanitarian organisation in 2007, which creates expert foster homes in the districts of Ryazan, Tambov, and Leningrad. The Neva Foundation was established in 2008 in Geneva by Gennady and Elena Timchenko to support and fund cultural endeavours in both Russia and Switzerland.

Lyrical art and cooperation with the Grand Théâtre de Genève have been the foundation’s main priorities. Yuri Temirkanov, a well-known conductor of the Saint Petersburg Philharmonic, served as a trustee. The Ladoga Foundation was established in 2010 by Gennady and Elena Timchenko. The fund’s primary activities have included helping the elderly, restoring monuments to spiritual and cultural heritage, funding cultural programmes, and supporting initiatives in the area of cutting-edge medical technology.

The Elena and Gennady Timchenko Foundation (often known as the Timchenko Foundation for short) replaced the Ladoga Foundation in September 2013 and incorporated all of their humanitarian endeavours. Timchenko was chosen as the Franco-Russian Chamber of Commerce’s Economic Council Chairman in 2011. (CCIFR).

He was also named President of SKA Saint Petersburg, the top ice hockey team, and Chairman of the Board of Directors in the same year. He was named head of the Continental Hockey League’s board of directors in 2012. (KHL). He is a member of the board of trustees of the Russian Geographical Society as well as the Jewish Museum and Tolerance Center in Moscow. Timchenko made a donation of 2,9 billion rubles in 2020 to fight the COVID-19 pandemic.

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Involvement In Sports 

Timchenko enjoys watching and playing tennis. He has supported the IPP Open, an outdoor tennis competition in Finland since 2000, through his formerly owned Finnish business, IPP. He reportedly supported a number of Russian tennis players in addition to the Davis Cup-winning Finnish national team. His sponsorship of a sailing team that competes in the worldwide RC44 yachting tournament has been reported in the media. 

Timchenko took over as Chairman of the Board of Directors of SKA Saint Petersburg, the ice hockey team headquartered in Saint Petersburg, in April 2011 from Alexander Medvedev. He was chosen to serve as Club President in May of the same year, as part of the club’s new management structure.

He took over as Chairman of the Board of Directors of the Continental Hockey League KHL from Vyacheslav Fetisov in July 2012. The Timchenko Foundation encourages young people to take up chess and ice hockey. He joined the sponsors and organisers of the Alekhine Memorial, one of the most significant international chess competitions in the ELO rating, in 2013.

Sanctions On Him

Timchenko was added to the Specially Designated Nationals List (SDN), a list of people sanctioned as “members of the Russian leadership’s inner circle,” by the U.S. Treasury in March 2014, following the Crimean status referendum. The penalties prevent him from entering the US and freeze any assets he may have there.

In the CAATSA declassified report, a list of Russian “oligarchs” is included, including Timchenko. After Russia recognised the independence of the Donetsk and Luhansk People’s Republics and sent troops there on February 22, 2022, the UK government imposed sanctions on Timchenko.

In connection with the 2022 Russian invasion of Ukraine, the European Union placed Timchenko on a blacklist and ordered all of his assets frozen on February 28, 2022. His boat Lena was taken into custody by the Italian authorities on March 4, 2022, in the port city of Sanremo. Along with his wife and children, the boat was put on a United States sanctions list.

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Gennady Timchenko Net Worth

His current net worth is $12.4 Billion. The largest investment made by Timchenko was a 23.5 per cent share in the publicly listed natural gas firm Novatek. According to Interfax’s SPARK database, he owns the shares through Volga Group and ENA Invest, his Russia-based investment companies.

According to Novatek’s website, the company produces 10% of all the natural gas in Russia. According to public records and media sources, further assets include a 14.5 per cent investment in the petrochemical business Sibur, 80 per cent in the rail company Transoil, and 52 per cent in the Russian construction company Stroytransgaz.

Prior to the imposition of American economic sanctions, the billionaire sold a 44 per cent interest in Cyprus-based oil trader Gunvor Group to partner Torbjorn Tornqvist in March 2014. Although the transaction’s specifics are unknown, our study estimates that he made $2 billion from the sale. In 2010 and 2011, Timchenko and his billionaire partner Leonid Mikhelson bought Sibur from Gazprombank, the lending subsidiary of the government-controlled energy firm Gazprom.

The valuation utilised to determine the investment cost was the one provided by Gazprombank in December 2010, when it sold the first 25% for $1.3 billion. According to Volga’s spokesman, his lesser assets include around 10% of Bank Rossia and 30% of the coal mining business Kolmar. 

When the majority of the peer firms used to assess their interests in trade outside of Russia, risk discounts are imposed to account for the effects of western sanctions. In 2022, the U.K. and the European Union imposed sanctions on Timchenko as a result of the intensifying crisis in Ukraine.

Estimated Net Worth in 2023 (Approx)	$12.4 Billion
Estimated Net Worth in 2022 (Approx)	$15.6 Billion
Estimated Net Worth in 2021 (Approx)	$22 Billion
Estimated Net Worth in 2020 (Approx)	$14.4 Billion
Annual Salary	NA
Assets
Houses
Yachts
Jets

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FAQs

How much is the net worth of Gennady Timchenko?

$12.4 Billion

Who is Gennady Timchenko wife?

Elena Timchenko

What is Gennady Timchenko age?

71 years

What is the name of the Gennady Timchenko firm?

Gunvor Group

James Goodnight, a multi-billionaire businessman, and software engineer was born in the United States on January 6, 1943.

Since 1976, when he and fellow North Carolina State University academic members co-founded SAS Institute, he has served as its chief executive officer. His net worth was projected to be US$9.18 billion as of Jan 2023.

James Goodnight Bio/Wiki

Birth Name	James Howard Goodnight
Nick Name	James Goodnight
Age	80 years (as in 2023)
Religion	Christian
Sun Sign/Zodiac Sign	Aquarius
Birth Place	Salisbury, NC, US
Date of Birth	January 6, 1943
Nationality	American
Hobbies	NA
Family
Mother's Name
Father's Name	Albert Goodnight
Brother	None
Sister	Leah, Susan
Girlfriends/Affairs
Affairs/Girlfriends	NA
Marital Status, Wife and Children
Wife/Spouse
Children	Henry Goodnight, Tabitha Goodnight
Education
School	Salisbury high school
College/University	North Carolina State University
Profession	Businessman and Software Developer
Height, Weight, and Figure Measurements
Height (Approx.)	178 cm (as in 2022)
Weight (Approx.)	68 kgs (as in 2022)
Extra Ordinary Features
Race / Ethnicity	American
Hair Color	Grey
Eye Color	Black
S*xual Orientation	Straight
Favourite Things
Favourite Food	NA
Favourite Book	NA
Favourite Colors	Red
Favourite Sport	Football
Controversies	NA

Early Life

On January 6, 1943, Goodnight was born in Salisbury, North Carolina, to parents Albert Goodnight and Dorothy Patterson. Prior to his family moving to Wilmington when he was 12 years old, he resided in Greensboro.

He used to work at his father’s hardware store as a child. After taking a computer course at North Carolina State University, Goodnight began working with computers. He was hired to write software for the agricultural economics department one summer. Goodnight helped with the building of the chapter’s new fraternity house in 2002 while he was a member of NC State’s Beta-Beta chapter of Tau Kappa Epsilon.

In 1968, Goodnight earned a master’s degree in statistics. He also worked for a business that produced electronic tools for the ground stations that interfaced with the Apollo spacecraft. Goodnight’s opinions on corporate culture were influenced by his experience in a high turnover workplace while working on the Apollo programme.

After participating in the Apollo project, Goodnight went back to North Carolina State University, where he obtained his doctorate in statistics and served as an instructor from 1972 until 1976.

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James Goodnight Education

Goodnight’s venture into computer technology was inspired by his curiosity with creating tools that can aid people. Goodnight entered North Carolina State University with a Ph.D. in statistics to assist in developing a General Purpose Statistical Analysis System for assessing agricultural data.

In 1976, Goodnight and his buddies built a store at the SAS Institute after successfully serving 100 customers. Additionally, Goodnight created software for the electrical components utilised in the Apollo Capsule’s ground stations. He gained insight into corporate job culture as a result of this encounter. Today, Goodnight is recognised for its employee-friendly initiatives.

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James Goodnight Personal Life

When Goodnight was a senior at North Carolina State University and Ann was a student at Meredith College, they first met. They have three children and have been married for about fifty years. Goodnight is interested in enhancing education, especially in the elementary and secondary levels.

The independent prep school Cary Academy was established in 1996 by Goodnight and his wife, together with their business partner John Sall and his wife Ginger. The Goodnights are both active members of the neighborhood in Cary, North Carolina. On the outside of the SAS campus, he is the owner of the Prestonwood Country Club and The Umstead Hotel & Spa.

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Professional Career

Goodnight collaborated with another professor at North Carolina State on a study to develop a general-purpose SAS for evaluating agricultural data. A group of eight land-grant institutions collaborated to run the initiative, which was principally supported by the USDA.

Goodnight and fellow faculty member Anthony James Barr were appointed project managers for the creation of the first SAS version. In 1976, when the software had 100 users, Goodnight and three other University students departed the school to found SAS Institute in a building across the street.

As SAS Institute grew from $138,000 in its first year of operation to $420 million in 1993 and $2.43 billion by 2010, Goodnight served as CEO for more than 35 years. The business expanded every year while he was in charge. Goodnight rose to fame for developing and upholding SAS’ corporate culture, which was frequently referred to in the media as “utopian.”

To preserve the working environment at the company, he turned down purchase bids and decided against going public. With around 27 individuals reporting to him directly and three organizational tiers, Goodnight has maintained a flat organizational structure. At the World Economic Forum in Cologny, Geneva, good night. Three pillars of HSM Global’s leadership framework were used to describe Goodnight’s management style: “help employees do their best work by keeping them intellectually challenged and by removing distractions;

Make managers responsible for sparking creativity; eliminate arbitrary distinctions between “suits” and “creatives”; Engage customers as creative partners to help deliver superior products.” Goodnight was chosen as an American Statistical Association Fellow in 1981. He received the American Academy of Achievement’s Golden Plate Award in 1997.

He was recognized by Harvard in 2004 as a Great American Business Leader. He was recognized by Inc. Magazine in the same year as one of the 25 Most Fascinating Entrepreneurs in America. Additionally, he has spoken and participated frequently at the World Economic Forum.

Jim Goodnight received a CEO Great Place to Work For All Leadership Award from Great Place to Work in March 2020. The company prospered under his leadership, growing yearly. James Goodnight turned down buyout proposals and decided against going on the record to defend the company’s working conditions.

Even with as many as 27 people reporting to him directly, Goodnight has maintained an even organizational structure. As a result, there are just three organizational layers in a corporation with 5,000 employees. In a framework of three principals, HSM Global summarized Goodnight’s management style: “help workers do their best work by keeping them intellectually challenged and by removing distractions.

Make supervisors accountable for igniting imagination; remove arbitrary differentiations between “suits” and “creatives”; Engage customers as creative partners to help deliver first-class products.” Magazine. He has regularly spoken at and taken part in the World Economic.

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James Goodnight Family

When Goodnight was a senior at North Carolina State University and Ann was a student at Meredith College, they first met.

They were wed in 1966. Ann is a hotel owner, philanthropist, lover of the arts, and supporter of educational reform. She runs the Asian fusion restaurant An Cuisines in Cary and has 3000 works of art on display on the SAS campus.

James Goodnight Net Worth

Goodnight, James James Goodnight, a software developer and businessman from the United States, is worth $9.18 billion. Salisbury, North Carolina is the place of James Goodnight’s birth.

He leads SAS Institute, a company that develops business analytics software. Together with fellow billionaire John Sall, he established the business in 1976. SAS is renowned for its flexible scheduling policies, 35-hour workweeks, and on-site childcare. For more over three decades, Goodnight, who owns two thirds of the business, has served as CEO.

Academics and other organizations have looked into his management style and the working environment he established at SAS, which is today worth several billions of dollars. The Umstead Hotel & Spa and Prestonwood Country Club in Cary, North Carolina are both owned by Goodnight and Sall. They are also credited for creating Cary Academy, a private school.

When Goodnight was a sophomore at North Carolina State University, where he later obtained a master’s degree in statistics, he enrolled in a computer course. This was the beginning of his career with computers. His interest was aroused by the possibility of sending a man to the moon while he was completing his Master’s.

His programming abilities assisted him in getting a job at a business that produced electrical components for the ground stations that connected with the Apollo spacecraft. Goodnight is interested in enhancing education, especially in the elementary and secondary levels.

The independent prep school Cary Academy was established in 1996 by Goodnight and his wife, together with their business partner John Sall and his wife Ginger. The Goodnights are both active members of the neighborhood in Cary, North Carolina. In Cary, North Carolina, his wife launched An Cuisines, an Asian fusion eatery.

Estimated Net Worth in 2023 (Approx)	$9.18 Billion
Estimated Net Worth in 2022 (Approx)	$10 Billion
Estimated Net Worth in 2021 (Approx)	$8.8 Billion
Estimated Net Worth in 2020 (Approx)	$8 Billion
Annual Salary	$2 Billion
Assets
Houses
Cars	NA
Yachts
Jets

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FAQs

How much is the net worth of James Goodnight?

His current net worth (as of 2023) is $9.18 Billion.

Who is James Goodnight wife?

He is married to Ann Goodnight.

What is James Goodnight age?

He is 80 years old as of 2023.

What is the name of the James Goodnight firm?

He is the founder of SAS Institute.