Michelle Litvak is a well-known face. This is not to say that everyone knows him, but a billionaire is serious. Now, due to numerous checks regarding corruption and the transfer of funds abroad, the question of Michel Litvak net worth worries many. And yes, his condition is impressive.
Michelle Litvak is the founder of Oteko Group, specializing in logistics outsourcing and transportation from Russia. The company became a sector leader and over time grew to become the main supplier of rail freight tank cars in the market. With the collapse of the Soviet Union, Russia lost most of its port capacity, a factor that Michel Litvak took into account after careful analysis. His next goal was the construction of privately financed port facilities. He undertook to implement the idea in mid-2000 on the Black Sea coast.
Already in 2004, the Oteko group of companies began construction of a loading terminal in the port of Taman, an expensive and extremely complex engineering project. Subsequently, the terminal became one of the largest investment projects in Russia, financed entirely by the private sector. It was opened in 2019 for loading bulk cargo. The port is developing very quickly: capacity increased by more than 250% by the first half of 2021.
Nowadays, the terminal in the port of Taman is a whole complex that provides transshipment of 20 million tons of cargo annually. These are agricultural goods and all kinds of petrochemical products. There are plans to increase transportation volumes to the design capacity – more than 72 million tons per year!
Oteko Group has also invested heavily in creating extensive community facilities for port employees. The company is positioned as one of the leading employers in the south of Russia. Over the years, Oteko has expanded; Today the company has 10 thousand employees, and it is one of the largest taxpayers in the Krasnodar region. Currently, Oteko Group employs more than 80% local residents.
Film industry and more
Michel Litvak was also involved in film production: he founded Bold Films, a Hollywood production studio. Among the films released by the studio are very famous films: “Nightcrawlerand”, “Bobby”, and also “Drive”. Another Bold Films film, Whiplash, won three Oscars.
The businessman participated in numerous charitable events and programs. Michel Litvak frequently donated to Reichmann University and also sponsored the annual conference in Herzliya.
A little biography
A native of Leningrad, he was born in 1951. Later he and his family moved to Poland, and in 1962 the Litvaks registered with the UN as refugees and went to Belgium. Michel started working early, with venture funding in 1974. In the 90s he settled in Moscow and was able to rise strongly – he was engaged in the import and export of consumer goods to China. This marked the beginning of the Oteko Group.
The entrepreneur has been married to Russian film star Svetlana Metkina for 25 years. The marriage produced four children.