There are two tech billionaires from Russia on Forbes list of the World’s Billionaires.
According to Forbes Billionaires list, Valentin Gapontsev has a net worth of $1.1 billion and Yuri Milner has a net worth of $1 billion.
Dr. Valentin Gapontsev founded IPG Photonics in 1990 when he was 51. In the 1990s, Dr. Gapontsev immigrated first to Germany then to the United States. IPG Photonics develops and manufactures high-performance fiber lasers and amplifiers for material processing, telecom and medicine. IPG Photonics went public on NASDAQ in late 2006. For 2011, IPG Photonics reported net income of $118 million on total revenues of $475 million. The revenues increased 59% year-on-year.
Yuri Milner‘s internet investment firm DST has stakes in Facebook, Zynga, and Groupon as well as in Twitter, Spotify, Airbnb, Klarna, ZocDoc, 360buy.com and others. Yuri Milner personally invest in start-up program participants selected by the incubator Y Combinator. Forbes calls Yuri Milner “the savvy internet investor every tech investor wants to emulate”.
See a list of top 10 web startups from Russia.