V iktor Rashnikov is a Russian oligarch who is the majority owner and chairman of the board of directors of Magnitogorsk Iron & Steel Works (MMK), one of Russia's largest steel producers. His is a classic story of a Soviet-era factory man who rose to become a powerful industrial magnate. He started his career at the Magnitogorsk steel plant in the 1960s as a mechanic and worked his way up through every level of the company over several decades.

During the tumultuous privatization of state assets in the post-Soviet 1990s, he rose to become the company's general director and gradually consolidated his control, eventually becoming the majority owner of the massive industrial complex where he had started as a shop-floor worker. He has invested heavily in modernizing the plant and has built it into a major global steel player. He has also been involved in politics, serving in the regional legislature. Following the 2022 invasion of Ukraine, he has been sanctioned by the United States, the European Union, and the United Kingdom.