In 1996, Galchev and his partner, Georgy Krasnyansky, created Rosuglesbyt which became a leading Russian coal enterprise. Then in 2000, Galchev partnered with Sergei Generalov, then Russian Minister of Fuel and Energy, to privatize the Krasnoyarsk Coal Company. In 2002, Galchev sold his stake in the company to the MDM Group and immediately bought shares of Sterncement because he saw potential in the cement industry. By 2004, Galchev’s cement holdings produced 9.6 million tons of cement.
According to Forbes, Galchev has a net worth of $1.09 billion, as of March 2018.
