Michel Litvak High Net Worth Individual Biography

 Michel started working to make a living from an early age. His ambitions and entrepreneurial skills allowed him to quickly attract the attention of venture financing. In 1974, he established a chain of several medical research organizations, while engaging in commodity trading.

Michel Litvak is a high net worth individual and billionaire. He is also the founder of Oteko Group. Michel Litvak has been noted in Forbes as a film producer and philanthropist.

Michel Litvak is a Leningrad native, born in 1951. In 1962, the Litvak family emigrated from Poland to Brussels, Belgium.

The downfall of the USSR in 1990 gave Michel Litvak the chance to return to Russia and set up residence in Moscow. His next venture involved the founding of a company aimed at imports and exports of consumer products between Russia and neighbouring China. The enterprise soon grew to leading positions in Russia, allowing Michel to expand his activities into a new sector. He started offering logistics outsourcing as well as transportation services for Russian companies. As the result it led to the founding of the Oteko Group of companies. Oteko quickly acquired the most extensive inventory of railway tankers in Russia, growing to the largest company of its sector.

 


Michel Litvak soon realized that Russia had been deprived of many of its key harbor facilities by the collapse of the USSR. Michel saw a massive business opportunity in the sector and launched a fully privately-funded venture to launch the construction of the largest privately-funded harbor in southern Russia to facilitate the transportation of raw materials and petrochemicals. As a result, in 2000, Michel Litvak acquired a huge land plot in the Taman region with the aim of building a loading terminal on the Black Sea coast. Oteko Group began the construction in 2004. The venture became the largest private investment in port infrastructure in the south of the country.

Producer and Philanthropist

Apart from being a successful entrepreneur, Michel Litvak is also a notable philanthropist. Among other projects he supports the Institution for Policy and Strategy (IPS) at Reichman University. He also supports the annual Herzliya conference. Oteko Group is also engaged in numerous charity activities, for example, in public facility reconstruction and renovation efforts, as well as helping Russian citizens achieve personal goals and access quality healthcare services.

Michel Litvak is also a notable film enthusiast. Bold Films is his brainchild – a Hollywood-based film studio where Michel Litvak used to release several successful films. One of his films – Whiplash – won three Academy Awards. The picture was also nominated for five more awards.

Michel Litvak’s filmography includes such films as Golden Globe project Bobby directed by Emilio Estevez, starring: Demi Moore, Anthony Hopkins, William Macy, Shia LaBeouf and Sharon Stone. Other films produced by Michel Litvak include the thriller Legion, in 2010, Gates in 3D, Lost River, directed by Ryan Gosling, Neon Demon, Dominion, Obsession, Evidence, and many others.

Oteko Group

The Oteko Group of Companies is one of the largest port operators in Russia, having launched a high capacity coal loading terminal in the port of Taman. The Oteko Portservice terminal has a design capacity of over 72 million tons of cargo annually, a figure that the company intends to reach by the end of 2022. The Taman cargo loading terminal has also been recently bolstered by the launch of a new loading conveyor, which doubled the bulk terminal’s daily throughput capacity.



Michel Litvak and president Vladimir Putin see the construction of the Taman terminal as an important step in the development of the Taman Region. President Putin supports privately funded initiatives, such as those launched by Oteko Group, considering their immense contribution into creating new jobs. The Taman port terminal is also an extensive public infrastructure, giving employees access to residential housing and public facilities.

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