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==Career== |
==Career== |
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In 1990, Gapontsev founded [[IPG Photonics]] at age 51, specializing in production of telecommunications and industrial high-power lasers. After moving his firm to the US, he raised $100 million investment from [[Merrill Lynch]] and [[Apax Partners]]. The company revenue reached $1.4 billion in 2017.<ref>{{cite web |last1=Mufson |first1=Steven |title=The tribulations of ‘oligarch’ No. 27 |url=https://www.washingtonpost.com/business/economy/the-tribulations-of-oligarch-no-27/2018/08/02/8304c30c-8eb7-11e8-b769-e3fff17f0689_story.html |website=The Washington Post |archive-url=http://web.archive.org/web/20180804111356/https://www.washingtonpost.com/business/economy/the-tribulations-of-oligarch-no-27/2018/08/02/8304c30c-8eb7-11e8-b769-e3fff17f0689_story.html?utm_term=.1ad1dcdef608 |archive-date=4 August 2018 |date=3 August 2018 |url-status=live}}</ref> |
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In 1990, Gapontsev founded [[IPG Photonics]].<ref name="Forbes profile"/> |
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Gapontsev and his family own 47.6% of IPG.<ref>{{cite web|url=http://www.telegram.com/article/20121202/COLUMN70/312029994|title=Valentin Gapontsev, Worcester's aging billionaire|first=Peter S. Cohan WALL &|last=MAIN|date=|website=telegram.com|accessdate=7 February 2018}}</ref> |
Gapontsev and his family own 47.6% of IPG.<ref>{{cite web|url=http://www.telegram.com/article/20121202/COLUMN70/312029994|title=Valentin Gapontsev, Worcester's aging billionaire|first=Peter S. Cohan WALL &|last=MAIN|date=|website=telegram.com|accessdate=7 February 2018}}</ref> |
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In 2011, Gapontsev received the Russian Federation National Award in Science and Technology.<ref name="kremlin.ru"/> |
In 2011, Gapontsev received the Russian Federation National Award in Science and Technology.<ref name="kremlin.ru"/> |
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In 2019, Gapontsev was erroneously sanctioned as a "Russian oligarch". The decision was later reverted by the US Treasury.<ref>{{cite web |last1=Mufson |first1=Steven |title=Treasury admits Russian-born physicist shouldn’t be on oligarch list that it cribbed from Forbes |url=https://www.washingtonpost.com/climate-environment/treasury-admits-russian-born-physicist-shouldnt-be-on-oligarch-list/2019/09/11/41e06db2-d4c1-11e9-9610-fb56c5522e1c_story.html |website=The Washington Post |archive-url=http://archive.today/2021.04.08-145407/https://www.washingtonpost.com/climate-environment/treasury-admits-russian-born-physicist-shouldnt-be-on-oligarch-list/2019/09/11/41e06db2-d4c1-11e9-9610-fb56c5522e1c_story.html |archive-date=8 April 2021 |date=11 September 2019 |url-status=live}}</ref> |
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==Personal life== |
==Personal life== |
Revision as of 23:12, 15 July 2022
Valentin Gapontsev | |
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Born | Valentin P. Gapontsev 23 February 1939 |
Died | 22 October 2021 | (aged 82)
Citizenship | Russian and American |
Education | Lviv Polytechnic National University Moscow Institute of Physics and Technology |
Known for | Founder, CEO and chairman, IPG Photonics |
Spouse | Married |
Children | 1 |
Valentin P. Gapontsev (23 February 1939 – 22 October 2021)[1] was a Russian-American billionaire, and the founder, CEO, and chairman of IPG Photonics. At the time of his death, his net worth was estimated at US$2.3 billion.[2]
Early life
Valentin Gapontsev was born in Moscow, the son of an artillery captain.[3] The family moved to Lviv in 1946, and he spent the next 20 years there.[3] He was educated at Lviv Polytechnic National University and Moscow Institute of Physics and Technology.[2]
In 2020, Forbes ranked him No. 359 on the Forbes 400 of the richest people in America.[4]
Career
In 1990, Gapontsev founded IPG Photonics at age 51, specializing in production of telecommunications and industrial high-power lasers. After moving his firm to the US, he raised $100 million investment from Merrill Lynch and Apax Partners. The company revenue reached $1.4 billion in 2017.[5] Gapontsev and his family own 47.6% of IPG.[6]
In 2011, Gapontsev received the Russian Federation National Award in Science and Technology.[1]
In 2019, Gapontsev was erroneously sanctioned as a "Russian oligarch". The decision was later reverted by the US Treasury.[7]
Personal life
He was married, with one child, and lived in Worcester, Massachusetts.[2]
Gapontsev died on 22 October 2021. The cause of death is unknown, but it is known that he had cancer.[8]
References
- ^ a b "Valentin Gapontsev". kremlin.ru. Retrieved 7 February 2018.
- ^ a b c "Forbes profile: Valentin Gapontsev". Forbes. Retrieved 23 October 2021.
- ^ a b "Independent Thinker: Valentin Gapontsev of IPG Photonics". spie.org. Retrieved 7 February 2018.
- ^ "Valentin Gapontsev & family". Forbes. Retrieved 13 October 2020.
- ^ Mufson, Steven (3 August 2018). "The tribulations of 'oligarch' No. 27". The Washington Post. Archived from the original on 4 August 2018.
- ^ MAIN, Peter S. Cohan WALL &. "Valentin Gapontsev, Worcester's aging billionaire". telegram.com. Retrieved 7 February 2018.
- ^ Mufson, Steven (11 September 2019). "Treasury admits Russian-born physicist shouldn't be on oligarch list that it cribbed from Forbes". The Washington Post. Archived from the original on 8 April 2021.
- ^ "Умер российский миллиардер Валентин Гапонцев". www.azerbaycan24.com. 23 October 2021. Retrieved 23 October 2021.