Comment on One of Russia’s most successful private entrepreneurs sells–to the state

The Economist: Business, The Economist
Thu, 02/22/2018 - 8:47am

One of Russia’s most successful private entrepreneurs sells–to the state

IN THE Russian business community Sergei Galitsky served as a rare example of a self-made billionaire who rose with relatively little state help and outside the natural-resources trade. He built his retail company, Magnit, from scratch into Russia’s largest network; it has more than 16,000 stores. Rather than moving to Moscow, he kept his headquarters in his hometown of Krasnodar, where he also founded a football club.

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