Russian Billionaire Buys Nurburgring Circuit in Germany For $87 Million

As of April 2016, 43-year-old Viktor Kharitonin is worth $1.04 billion. The source of his personal wealth? Pharmstandard, a pharmaceutical company with a portfolio that includes products used in the treatment of diabetes, cardiovascular diseases, cancer, and the list goes forth. Compared to other Russian billionaires, Kharitonin has put its wealth to good use by buying the Nurburgring circuit in Germany.

 Kharitonin has upped his stake in the Nurburgring from 80 percent to 99 percent, thus giving him the status of full owner. The remaining 1 percent is owned by minority shareholder GetSpeed Performance GmbH, the company that owns the Performance Center at the Nurburgring. According to reports in the Russian media, Kharitonin has paid €77 million (or $87 million at current exchange rates) in total.
 

jeffy210 - 4/27/2016 7:18:04 PM

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Congrats? My question: What's he planning on doing with it?

MDarringer - 4/28/2016 8:39:11 AM

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Most likely what it is doing right now, but perhaps with more lucrative agreements with manufacturers to sustain it.

PUGPROUD - 4/27/2016 8:33:10 PM

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This track has enormous money making potential in the right hands. Years ago the New York Yankees under CBS TV channel ownership was a bust and they sold it for $21 million. With investment and promotion that investment is now worth $2 billion. If done right the $87 million paid for this track could be worth substantially more. Every car enthusiast around the world knows Nurburgring and what it stands for. Every manufacturer of note tests there. The recognition, name value and goodwill associated with this circuit is equal to Lemans and Indianapolis. Time will tell but this is a potential steal at $87 million.

skytop - 4/29/2016 5:04:16 AM

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When do the track side Vodka kiosks open?