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.
