Former Fur Seller Becomes Billionaire With Health-Care Firm (1)

Igor Shilov, who started out selling mink fur hats and other goods in Siberia, has just become a billionaire as his health-care company went public in Russia.

Shilov is worth $1 billion, according to the Bloomberg Billionaires Index, after United Medical Group CY PLC was valued at $1.1 billion in its initial public offering. After the IPO, the 58-year-old entrepreneur owns about 55% of the firm, which operates under the brand European Medical Center.

Igor Shilov

Source: EMC press office

The health-care provider to wealthy Russians is the latest company to sell shares as the country’s economy recovers after shrinking last year. Stock ...