Oleg Boyko in the 90s of the 20th century was one of the most influential businessmen in Russia, having great authority in business and political circles. But a spinal injury in 1996 dramatically changed the billionaire’s life. He ceased to be a public figure, but was able to return to active life and create his business empire again.
- Full name: Boyko Oleg Viktorovich
- Date of birth: September 28, 1964
- Education: Moscow Aviation Institute (graduated in 1986)
- Start of business: 1988
- Type of activity at start: computer trading
- Current activity:
commercial real estate trade,financial technologies,
gambling business outside Russia,
lottery business in Russia,
production activities
- Current net worth (2017): $1.2 billion
Among Russian billionaires there are people who are not only eyewitnesses of the emergence of new economic conditions in Russia at the end of the 20th century, but also direct participants in the events that took place. From them you can hear, so to speak, first-hand, amazing stories about how it all happened. Their memories are priceless. Such a person is Oleg Viktorovich Boyko, a talented entrepreneur and an unusual person who stood at the origins of the new economic Russia.
Start of a business journey
Oleg was born on September 28, 1964 in Moscow. The boy's mother was engaged in scientific work. My father headed the famous NPO Vzlet, which deals with radio electronics in aviation.
It is not surprising that the son, having graduated from physics and mathematics school, entered the MAI (Moscow Aviation Institute) to major in radio electronics of aircraft, from which he graduated in 1986. He later received a master's degree, studying in England and the USA.
Oleg Viktorovich said that in his early youth he desperately dreamed of leaving the Soviet Union forever. But when I finally got to the desired America, irreversible changes began in Russia, and leaving my homeland no longer made sense. All the most interesting things happened there, and Oleg Boyko’s short biography is inextricably linked with Russia.
Figure 1. The young banker O. Boyko enjoyed great authority in the professional community. Source: bio-graf.ru
Oleg Boyko has been seriously interested in karate since childhood. He has a black belt in this type of martial arts. While still at school, the enterprising boy turned his hobby into a business, starting to teach everyone the sport that was fashionable at that time. According to the businessman, he earned more than his parents. It was back in 1979. By the way, for such activities in the USSR they could be prosecuted.
Later, an active young man endowed with commercial talent began to engage in foreign exchange transactions, which was also outside the legal framework in the Soviet Union. Fortunately, perestroika began very soon and free enterprise was given the green light. It is natural that the young man’s talents and abilities were revealed to their full potential. Oleg Boyko's first official business was a computer sales company, created by him in 1988.
Childhood and parents of Oleg Boyko
Oleg Boyko was born on September 28, 1964. He became a welcome child in a family of Muscovites, whose life was inextricably linked with scientific activity. The father of the current economist, Viktor Denisovich, headed the scientific and production association “Vzlyot”.
This enterprise of all-Union significance has earned fame for its developments in aviation electronics. The boy’s mother, Vera Pavlovna Dochar, held the position of senior researcher at the Research Institute of Medicinal Plants at the Russian Academy of Sciences.
From childhood, Oleg was distinguished by his curiosity and was a very active child.
Having started practicing karate, Boyko achieved significant success in this type of martial arts and subsequently received a black belt.
Karate not only strengthened the young man physically, but also revealed an entrepreneurial spirit in him: while receiving secondary education at a physics and mathematics school, Oleg began giving lessons in martial arts and already in 1979 had his own small business, bringing in quite significant income.
Business kaleidoscope of the 90s
The range of business interests of Oleg Boyko in the 90s of the 20th century is amazing. It is easier to list what the businessman did not do. He supplied fruit from abroad, was engaged in retail sales of products, sold computers, created banks, and participated in the formation of new media. Boyko created the retail network of currency stores OLBI Diplomat, had shares in the Izvestia Publishing House and the Ogonyok magazine, participated in the creation of new television channels, traded real estate, owned the fashionable Metelitsa nightclub and the Cherry casino.
Figure 2. Oleg Boyko’s area of interest is amazing. Source: pro-business.kz
He can tell how, together with Alexander Smolensky and Vladimir Gusinsky, he organized the NTV channel, how he participated in the creation of ORT with Boris Berezovsky (later joined the board of directors of the channel), how he collaborated with Igor Shuvalov in OLBI, about his friendship with Vladimir Potanin.
At the same time, Oleg Boyko created several banks, including National Credit, which at that time - the emergence of the new banking system in Russia - became an innovator in many directions. For example, it was the National Credit Bank that issued the first plastic card. Now it seems strange, but then it was a breakthrough. Subsequently, Boyko sold National Credit and the OLBI store chain to the National Sports Committee. The bank's license was later revoked.
Boyko Oleg Viktorovich was a member of the supervisory board of Sberbank, owning 20% of the shares. He was involved in politics and achieved significant influence in this field. They say that Oleg Boyko was part of the so-called “Seven Bankers”, which actively participated in the next presidential elections. After Boris Yeltsin's victory, bankers received serious power and broad opportunities.
Interesting fact : They say that Oleg Boyko was going to privatize Sberbank in 1993. Negotiations have already been held on this issue with the government and the Central Bank of the Russian Federation. The final word remained with the Central Bank. Sergei Gerashchenko, who replaced Tatyana Paramonova as head of the Bank of Russia, made a negative decision at the last moment.
In 1996, a tragic event occurred in the life of Oleg Boyko. While on vacation in Monte Carlo, he received a spinal injury, which forever confined this active and energetic man to a wheelchair. A new stage has begun in the life of the legendary banker.
Carier start
In 1981, Oleg Boyko entered the Aviation Institute (Moscow) at the Faculty of Radio Electronics. Already from his second year, the future billionaire combined his studies with work at the information and computing center of Moscow State University. After graduating from university, Oleg went to receive additional education abroad - to the USA and Britain. Returning home, Boyko founded a cooperative for trading software and computer equipment.
Before he was injured (a spinal fracture after falling from the second floor), he could simultaneously work on several projects at once. Among them: lands of the NPO “Vzlyot”, politics, casino “Cherry”, club “Metelitsa”, magazine “Ogonyok”, publishing house “Izvestia” (share), shares of TV channels, fruit imports, banking institutions, real estate transactions, currency stores "OLBI-Diplomat". But after being injured in the fall of 1996, his life changed and he lost his status as a public figure.
Casino, cinema and high technology
Boyko spent two years in medical institutions, struggling with injury and trying to understand how much his usual way of life had changed. As Oleg Viktorovich himself says, at this point in his life he had “minus fifty million dollars and two criminal cases.” Many former friends and partners suddenly disappeared from view.
Not every ordinary person is able to cope with such a life tragedy. But not Boyko. The willpower and spirit of an eastern martial artist and the natural inner qualities of a leader helped him cope and learn to live in a new state.
Boyko says: “To transform from an entrepreneur into a billionaire, you need to be able to not stop and manage your emotions. And don’t be afraid to lose.”
Oleg Boyko is a natural billionaire. Today Oleg Viktorovich gets around on a special electric scooter, looks great and leads an active life. The businessman says that the main change that happened in his life after the injury was that he became more tolerant and kinder to people.
Figure 3. Life goes on! Source: 116almet.ru
In 1999, Oleg Boyko and Alexander Abramov created, which began buying up the debts of metal rolling enterprises. The business developed very successfully and after a short time the holding turned into the largest metal rolling company in the country. Evraz’s business partner is Roman Abramovich.
In 2000, Boyko organized the Finstar Financial Group investment fund. He sold his stake in EvrazHolding and moved on to other projects. Boyko admits that he has never been attracted to the industrial sector; he is bored there. The businessman believes that the main trigger for a person’s actions is the emotions he wants to receive. Oleg Viktorovich found the necessary emotions in the gambling business and in the field of financial technology.
Interesting fact : Oleg Boyko sold his stake in EvrazHolding for $600 million. Today, the company's capitalization is $4.28 billion; the fortune of former partner Alexander Abramov is estimated at $6.4 billion. But Boyko says that he does not regret the decision made then.
“Oleg Boyko talks in detail about himself to Oleg Tinkov in the “Business Secrets” program
In 2002, Boyko created the Ritzio company, which began developing the gambling business: Vulcan gaming salons, casinos, lotteries. After the adoption of prohibitive laws in Russia, Boyko sold all gaming assets and concentrated this business in Europe. In Russia, Ritzio continues to engage in the lottery business, which brings in good income.
Finstar invests money in financial companies. The fund has invested in the Latvian microfinance company 4finance, the Finnish Euroloan, the Spanish Prestamos Prima, the German online service Spotcap, and the Russian Rocket10. deals with commercial real estate.
Oleg Boyko is one of the top 100 richest businessmen in Russia, according to Forbes.
Table 1. The size of Oleg Boyko’s fortune (2011 – 2020)
| Year | Wealth size (billion rubles) | Place in the Forbes ranking |
| 2011 | 1,0 | 94 |
| 2012 | 1,1 | 87 |
| 2013 | 1,4 | 71 |
| 2014 | 1,35 | 78 |
| 2015 | 1,3 | 61 |
| 2016 | 1,2 | 58 |
| 2017 | 1,2 | 75 |
Source: Forbes
Graph 1. Dynamics of Oleg Boyko’s fortune (2011–2017)
Today the Finstar fund manages about $2 billion. The main assets are located in the following areas: real estate, fintech, financial transactions, gambling, production activities.
Passionate and looking for new emotions, Boyko produced Scarlett Johansen’s directorial debut “Summer Cruise” and the film “Sin City 2” in Hollywood.
New directions
In 1999, Oleg Boyko entered into a partnership with Alexander Abramov. Together they established Evrazholding, which began exchanging the debts of metallurgical enterprises for their shares. Subsequently, Boyko sold his stake in this company for $600 million.
In 2001, the entrepreneur began building a business that would make him a billionaire in the future. Together with Boris Belotserkovsky, who was engaged in the production of slot machines, Oleg acquired the Vulcan chain of establishments. Later they joined the international holding company Ritzio.
In 2003, together with Dmitry Zelenin (ex-governor of the Tver region), Boyko acquired the Latvian bank VTV, opening a network of its foreign representative offices. Then the entrepreneur sold it to an American company for $120 million.
“I treat myself with touching sympathy”
Oleg Boyko is an amazing person. Before the injury, he led an active life, not without external gloss and chic. Comfortable penthouses, expensive restaurants, beautiful women, elite entertainment, stylish clothes and much more that make up the private life of a billionaire were familiar. They say that at one time Boyko lived in England in a house next door to Prince Charles and even drove a car of the same brand.
Figure 4. Oleg Boyko – a man of peace. Source: forbes.ru
The spinal injury changed virtually nothing in the billionaire’s usual lifestyle. He still looks great, plays sports, attends social events and is surrounded by beautiful women. Boyko is a man of peace. He spends time with comfort and pleasure in a cozy apartment in Latvia, in luxury apartments in Dubai. Relaxing in a villa in Italy or a penthouse in Monaco. The businessman loves gambling, his collection of glass figurines and a luxurious yacht. He knows how to live with taste, remaining true to himself. Oleg Viktorovich is single and for many years has been one of the eligible bachelors hunted by potential brides.
When asked by Tatler magazine about his personal life, Boyko jokingly replied that he was looking for a housekeeper with the responsibilities of a wife.
The businessman has not taken part in politics for a long time, but leads an active social life. In 2005, he established the Parasport charity foundation, which supports Russian Olympians with disabilities. Largely thanks to the foundation, the Russian Paralympic team showed amazing results in Sochi in 2014. In addition to big-time sports, the foundation is actively involved in organizing sports and physical education centers for the disabled, helping people live, develop and enjoy to the fullest. Boyko himself actively works in the fund and attracts other entrepreneurs to cooperate.
Charity and social projects
Oleg Boyko is the main private sponsor of the Russian Paralympic team. Since 2006, he has headed the Commission for the Development of the Paralympic Movement under the Russian Paralympic Committee. In the 2000s, Boyko launched an international fund to support parasports. It is a non-profit charitable organization that funds the training and competition of athletes with disabilities. In addition, Parasport helps with physical rehabilitation and social adaptation of athletes and people with physical and sensory impairments.
In 2014, during the XI Paralympic Winter Games in Sochi, RBC TV launched the talk show “Heroes of Our Time” with Oleg Boyko as the host and creative director.
In 2020, the Parasport Foundation became the general sponsor of the IWAS World Games in Sochi (participants are more than 400 disabled athletes from 36 countries).
How to become a billionaire
The success story of Oleg Boyko can serve as a teaching tool for a budding entrepreneur. Nevertheless, Oleg himself studies with interest the biographies of famous successful people, trying to find general patterns of success. He developed a certain formula for himself, defined a set of qualities that make an entrepreneur a billionaire. At the same time, he does not place the role of analytical intelligence and education in first place. Oleg Viktorovich believes that the following personal characteristics are more important.
- High emotional intelligence allows you to experience the whole gamut of emotions, which are the basis of a person’s taste for life. Intelligence also makes it possible to understand other people, build correct relationships and exist successfully in society. It is equally important to be able to manage emotions; this allows you to save energy and direct it in the right direction.
- A constant internal need for movement, the desire to achieve goals, to create. Boyko calls this quality “inner woodpecker” and considers it innate.
- Patience and readiness for losses allow a businessman to move forward no matter what, to stay the course and distribute forces correctly.
O. Boyko about losses: “I have a skill that I developed a long time ago: I don’t get upset by losses at all, it’s counter-constructive. I draw conclusions, press the “switch” and move on.”
Oleg Viktorovich Boyko is a man who allowed himself to live the way he wanted, regardless of circumstances, difficulties and other people. And life responded to him in kind.
Banking and financial activities
In 2003, Oleg Boyko is a businessman who entered into cooperation with Dmitry Zelenin (ex-governor of the Tver region). Together they acquired a banking institution, namely VTV Latvia, and then opened several foreign representative offices and sold them to a diversified company (USA) for 120 million US dollars.
In 2007, Boyko founded the Finstar company, and two years later it was renamed Finstroy. After that, this company changed its profile and began to implement various projects in the real estate sector, as well as in the gambling business in the Russian Federation, the CIS countries, Europe, North and Latin America. As before, that is, before Oleg Boyko (a businessman) was injured for some time from his usual fighting spirit, he began to do everything at once. So, in parallel with the banking sector and gambling business, he created a chain of supermarkets “Smak” and “Almond”, which were opened in Zhigulevsk, Samara and Togliatti. He also succeeded in the “beautiful” business and bought the Rive Gauche perfume and cosmetics chain. In 2012, the businessman sold its controlling stake for $140 million.
Excerpt characterizing Boyko, Oleg Viktorovich
“I saw them the other day at the Arkharovs’. Natalie looked prettier and cheerful again. She sang one romance. How easy it is for some people! -What's going on? – Pierre asked displeasedly. Julie smiled. “You know, Count, that knights like you only exist in the novels of Madame Suza.” - Which knight? From what? – Pierre asked, blushing. - Well, come on, dear Count, c'est la fable de tout Moscou. Je vous admire, ma parole d'honneur. [all of Moscow knows this. Really, I'm surprised at you.] - Fine! Fine! - said the militiaman. - OK then. You can't tell me how boring it is! – Qu'est ce qui est la fable de tout Moscou? [What does all of Moscow know?] - Pierre said angrily, getting up. - Come on, Count. You know! “I don’t know anything,” said Pierre. – I know that you were friends with Natalie, and that’s why... No, I’m always friendlier with Vera. Cette chere Vera! [This dear Vera!] - Non, madame, [No, madame.] - Pierre continued in a dissatisfied tone. “I didn’t take on the role of Rostova’s knight at all, and I haven’t been with them for almost a month.” But I don’t understand cruelty... – Qui s’excuse – s’accuse, [Whoever apologizes, blames himself.] – Julie said, smiling and waving the lint and, so that she had the last word, she immediately changed the conversation. “What, I found out today: poor Marie Volkonskaya arrived in Moscow yesterday. Did you hear she lost her father? - Really! Where is she? “I would very much like to see her,” said Pierre. – I spent the evening with her yesterday. Today or tomorrow morning she is going to the Moscow region with her nephew. - Well, how is she? - said Pierre. - Nothing, I’m sad. But do you know who saved her? This is a whole novel. Nicholas Rostov. They surrounded her, wanted to kill her, wounded her people. He rushed in and saved her... “Another novel,” said the militiaman. “This general elopement was decidedly done so that all the old brides would get married.” Catiche is one, Princess Bolkonskaya is another. “You know that I really think that she is un petit peu amoureuse du jeune homme.” [a little in love with a young man.] - Fine! Fine! Fine! - But how can you say this in Russian?.. When Pierre returned home, he was given two posters by Rastopchin that had been brought that day. The first said that the rumor that Count Rostopchin was prohibited from leaving Moscow was unfair and that, on the contrary, Count Rostopchin was glad that ladies and merchant wives were leaving Moscow. “Less fear, less news,” the poster said, “but I answer with my life that there will be no villain in Moscow.” These words clearly showed Pierre for the first time that the French would be in Moscow. The second poster said that our main apartment was in Vyazma, that Count Wittschstein defeated the French, but that since many residents want to arm themselves, there are weapons prepared for them in the arsenal: sabers, pistols, guns, which residents can get at a cheap price. The tone of the posters was no longer as playful as in Chigirin’s previous conversations. Pierre thought about these posters. Obviously, that terrible thundercloud, which he called upon with all the strength of his soul and which at the same time aroused involuntary horror in him - obviously this cloud was approaching. “Should I enlist in the military and go to the army or wait? – Pierre asked himself this question for the hundredth time. He took a deck of cards lying on his table and began to play solitaire. “If this solitaire comes out,” he said to himself, mixing the deck, holding it in his hand and looking up, “if it comes out, it means... what does it mean?..” He didn’t have time to decide what it meant when a voice was heard behind the office door the eldest princess asking if she could come in. “Then it will mean that I have to go to the army,” Pierre finished to himself. “Come in, come in,” he added, turning to the prince. (One eldest princess, with a long waist and a petrified face, continued to live in Pierre’s house; the two younger ones got married.) “Forgive me, mon cousin, for coming to you,” she said in a reproachfully excited voice. - After all, we finally need to decide on something! What will it be? Everyone has left Moscow, and the people are rioting. Why are we staying? “On the contrary, everything seems to be fine, ma cousine,” said Pierre with that habit of playfulness that Pierre, who always embarrassedly endured his role as a benefactor in front of the princess, acquired for himself in relation to her. - Yes, it’s good... good well-being! Today Varvara Ivanovna told me how different our troops are. You can certainly attribute it to honor. And the people have completely rebelled, they stop listening; My girl started being rude too. Soon they will start beating us too. You can't walk on the streets. And most importantly, the French will be here tomorrow, what can we expect! “I ask one thing, mon cousin,” said the princess, “order me to be taken to St. Petersburg: whatever I am, I cannot live under Bonaparte’s rule.” - Come on, ma cousine, where do you get your information from? On the contrary... - I will not submit to your Napoleon. Others do whatever they want... If you don’t want to do it... - Yes, I will do it, I’ll order it now. The princess was apparently annoyed that there was no one to be angry with. She sat down on a chair, whispering something. “But this is being conveyed to you incorrectly,” said Pierre. “Everything is quiet in the city, and there is no danger.” I was reading just now...” Pierre showed the princess the posters. – The Count writes that he answers with his life that the enemy will not be in Moscow. “Oh, this count of yours,” the princess spoke angrily, “is a hypocrite, a villain who himself incited the people to rebel.” Wasn’t he the one who wrote in those stupid posters that whoever he was, drag him by the crest to the exit (and how stupid)! Whoever takes it, he says, will have honor and glory. So I was quite happy. Varvara Ivanovna said that her people almost killed her because she spoke French... “But it’s so... You take everything to heart,” said Pierre and began to play solitaire. Despite the fact that the solitaire had worked out, Pierre did not go to the army, but remained in empty Moscow, still in the same anxiety, indecision, in fear and at the same time in joy, expecting something terrible. The next day, the princess left in the evening, and his chief manager came to Pierre with the news that the money he required to outfit the regiment could not be obtained unless one estate was sold. The general manager generally represented to Pierre that all these undertakings of the regiment were supposed to ruin him. Pierre had difficulty hiding his smile as he listened to the manager’s words. “Well, sell it,” he said. - What can I do, I can’t refuse now! The worse the state of affairs, and especially his affairs, was, the more pleasant it was for Pierre, the more obvious it was that the catastrophe he was waiting for was approaching. Almost none of Pierre's acquaintances were in the city. Julie left, Princess Marya left. Of the close acquaintances, only the Rostovs remained; but Pierre did not go to them. On this day, Pierre, in order to have fun, went to the village of Vorontsovo to see a large balloon that was being built by Leppich to destroy the enemy, and a test balloon that was supposed to be launched tomorrow. This ball was not ready yet; but, as Pierre learned, it was built at the request of the sovereign. The Emperor wrote to Count Rastopchin the following about this ball: “Aussitot que Leppich sera pret, composez lui un equipage pour sa nacelle d'hommes surs et intelligents et depechez un courrier au general Koutousoff pour l'en prevenir. Je l'ai instruit de la chose. Recommandez, je vous prie, a Leppich d'etre bien attentif sur l'endroit ou il descendra la premiere fois, pour ne pas se tromper et ne pas tomber dans les mains de l'ennemi. "Il est indispensable qu'il combine ses mouvements avec le general en chef." [As soon as Leppich is ready, assemble a crew for his boat of loyal and intelligent people and send a courier to General Kutuzov to warn him. I informed him about this. Please instruct Leppich to pay careful attention to the place where he descends for the first time, so as not to make a mistake and not fall into the hands of the enemy. It is necessary that he coordinate his movements with the movements of the commander-in-chief.] Returning home from Vorontsov and driving along Bolotnaya Square, Pierre saw a crowd at Lobnoye Mesto, stopped and got off the droshky. It was the execution of a French chef accused of espionage. The execution had just ended, and the executioner was untying a pitifully moaning fat man with red sideburns, blue stockings and a green camisole from the mare. Another criminal, thin and pale, stood right there. Both, judging by their faces, were French. With a frightened, painful look, similar to that of the thin Frenchman, Pierre pushed through the crowd. - What is this? Who? For what? - he asked. But the attention of the crowd - officials, townspeople, merchants, men, women in cloaks and fur coats - was so greedily focused on what was happening at Lobnoye Mesto that no one answered him. The fat man stood up, frowning, shrugged his shoulders and, obviously wanting to express firmness, began to put on his doublet without looking around him; but suddenly his lips trembled, and he began to cry, angry with himself, as adult sanguine people cry. The crowd spoke loudly, as it seemed to Pierre, in order to drown out the feeling of pity within itself. “Someone’s princely cook...” “Well, monsieur, apparently the Russian jelly sauce set the Frenchman on edge... set his teeth on edge,” said the wizened clerk standing next to Pierre, while the Frenchman began to cry. The clerk looked around him, apparently expecting an assessment of his joke. Some laughed, some continued to look in fear at the executioner, who was undressing another. Pierre sniffed, wrinkled his nose, and quickly turned around and walked back to the droshky, never ceasing to mutter something to himself as he walked and sat down. As he continued on the road, he shuddered several times and screamed so loudly that the coachman asked him: “What do you order?” -Where are you going? - Pierre shouted at the coachman who was leaving for Lubyanka.
