April 13, 2021
IPG billionaire nearly doubled his net worth last year
Photo | Courtesy
Valentin Gapontsev
Valentin Gapontsev, founder of Oxford laser manufacturer IPG Photonics, is worth $2.8 billion, according to the 2021 Forbes billionaire list, which circulated last week.
That’s a significant increase from last year, when the magazine valued Gapontsev at $1.6 billion, an increase of 75% year-to-year.
Gapontsev, who is 82, founded the company in Russia in 1991. The U.S. headquarters was established in 1998, and the company went public in 2006.
CORRECTION: A previous version of this article inaccurately stated Valentin Gapontsev's age. He is 82.
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