{{Short description|Russian-American billionaire (1939–2021)}} {{Use dmy dates|date= October 2021}} {{Infobox person | name = Valentin Gapontsev | image = Валентин Павлович Гапонцев.jpeg | image_size = | caption = Gapontsev in 2011 | native_name = Валентин Гапонцев | native_name_lang = ru | birth_name = Valentin P. Gapontsev | birth_date = {{birth date|1939|02|23|df=y}} | birth_place = [[Moscow]], [[Russian SFSR]], [[Soviet Union]] | death_date = {{death date and age|2021|10|22|1939|2|23|df=y}} | death_place = | citizenship = Russian and American | education = [[Lviv Polytechnic National University]]<br> [[Moscow Institute of Physics and Technology]] | occupation = Laser physicist | known_for = Founder, CEO and chairman, [[IPG Photonics]] | title = | term = | predecessor = | successor = | boards = | spouse = Married | children = 1 | website = }} '''Valentin P. Gapontsev''' (23 February 1939 – 22 October 2021)<ref name="kremlin.ru">{{cite news|url=http://en.kremlin.ru/supplement/960|title=Valentin Gapontsev|author=|date=|newspaper=President of Russia|accessdate=7 February 2018}}</ref> was a Russian-American laser physicist, [[billionaire]], and the founder, CEO, and chairman of [[IPG Photonics]]. At the time of his death, his net worth was estimated at US$2.3 billion.<ref name="Forbes profile">{{cite web|title=Forbes profile: Valentin Gapontsev |url=https://www.forbes.com/profile/valentin-gapontsev/ |website=Forbes |accessdate= 23 October 2021}}</ref>
==Early life== Valentin Gapontsev was born in Moscow, the son of an artillery captain.<ref name="spie.org">{{cite web|url=https://spie.org/membership/spie-professional-magazine/spie-professional-archives-and-special-content/july-2007/independent-thinker?SSO=1|title=Independent Thinker: Valentin Gapontsev of IPG Photonics|author=|date=|website=spie.org|accessdate=7 February 2018}}</ref> The family moved to [[Lviv]] in 1946, and he spent the next 20 years there.<ref name="spie.org"/> Graduating from the [[Lviv Polytechnic National University]] in 1961, he completed a doctoral program in the [[Moscow Institute of Physics and Technology]].<ref name="forbesruhv">{{cite web |last1=Kutuzov |first1=Roman |title=Он ушел из науки в бизнес в 51 год. Сейчас у него $800 млн |trans-title=He left science for business at 51. Now he's worth $800mln |url=https://www.forbes.ru/rating/ekonomika/lyudi/67109-russkaya-hvatka |website=Forbes |archive-url=https://web.archive.org/web/20140117024307/http://www.forbes.ru/rating/ekonomika/lyudi/67109-russkaya-hvatka |archive-date=17 January 2014 |date=25 April 2011 |url-status=live}}</ref>
==Career== After completing his doctorate, he joined the [[Soviet Academy of Sciences]] [[Institute of Radio-engineering and Electronics]] in 1967, where he specialized in laser material physics, researching synthesis of [[active gain medium]] materials.<ref name="forbesruhv" /><ref>{{cite web | title = Russian Scientist Brought Laser Technology to U.S. |author=Hagerty, James R. |website=The Wall Street Journal | url = https://www.wsj.com/articles/russian-scientist-brought-laser-technology-to-u-s-11636120801 | url-status = live | date = 2021-11-09 | archiveurl = https://archive.today/20211109003650/https://www.wsj.com/articles/russian-scientist-brought-laser-technology-to-u-s-11636120801 | archivedate = 2021-11-09 }}</ref>
In 1990, Gapontsev founded [[IPG Photonics]] at age 51. In a small laboratory near [[Moscow, Russia|Moscow]], he and his team invented a way to make [[fiber laser]] technology practical.<ref>{{cite web |last1=Hecht |first1=Jeff |title=Valentin Gapontsev leaves behind impressive tech legacy |url=https://www.laserfocusworld.com/blogs/article/14213036/valentin-gapontsev-leaves-behind-impressive-tech-legacy |website=Laser Focus World |date=28 October 2021}}</ref> His first contract was a $750,000 sale to [[Italtel]], fulfilled by establishing IPG Laser GmbH factory in [[Burbach, North Rhine-Westphalia|Burbach]], which was employing 500 workers in 2011.<ref name="forbesruhv" />
In mid-1990s, he expanded his business into the US by partnering with [[Dallas]]-based [[General Electric Company#Marconi plc (1999–2002)|RELTEC]] Communications to produce 10,000 [[optical amplifiers]] for new [[BellSouth]] fiber network, which was being built to connect 5 millions of US households to Internet. [[IPG Photonics]] was incorporated in the US in 1998.<ref name="forbesruhv" /> After moving his firm to the US, he raised $100 million investment from [[Merrill Lynch]] and [[Apax Partners]].<ref name="wapo18">{{cite news |last1=Mufson |first1=Steven |title=The tribulations of 'oligarch' No. 27 |url=https://www.washingtonpost.com/business/economy/the-tribulations-of-oligarch-no-27/2018/08/02/8304c30c-8eb7-11e8-b769-e3fff17f0689_story.html |newspaper=The Washington Post |archive-url=https://web.archive.org/web/20180804111356/https://www.washingtonpost.com/business/economy/the-tribulations-of-oligarch-no-27/2018/08/02/8304c30c-8eb7-11e8-b769-e3fff17f0689_story.html?utm_term=.1ad1dcdef608 |archive-date=4 August 2018 |date=3 August 2018 |url-status=live}}</ref> IPG specializes in production of telecommunications and industrial high-power lasers. According to Forbes, Gapontsev's firm controlled 80% of the high-power [[fiber laser]] market in 2011.<ref name="forbesruhv" /> Its revenue reached $1.4 billion in 2017.<ref name="wapo18"/> Gapontsev and his family own 47.6% of IPG.<ref>{{cite web|url=http://www.telegram.com/article/20121202/COLUMN70/312029994|title=Valentin Gapontsev, Worcester's aging billionaire|first=Peter S. Cohan WALL &|last=MAIN|date=|website=telegram.com|accessdate=7 February 2018}}</ref>
In 2011, Gapontsev received the Russian Federation National Award in Science and Technology.<ref name="kremlin.ru"/>
In 2019, Gapontsev was erroneously sanctioned as a "[[Russian oligarch]]". The decision was later reversed by the [[US Treasury]].<ref>{{cite news |last1=Mufson |first1=Steven |title=Treasury admits Russian-born physicist shouldn't be on oligarch list that it cribbed from Forbes |url=https://www.washingtonpost.com/climate-environment/treasury-admits-russian-born-physicist-shouldnt-be-on-oligarch-list/2019/09/11/41e06db2-d4c1-11e9-9610-fb56c5522e1c_story.html |newspaper=The Washington Post |archive-url=https://archive.today/20210408145407/https://www.washingtonpost.com/climate-environment/treasury-admits-russian-born-physicist-shouldnt-be-on-oligarch-list/2019/09/11/41e06db2-d4c1-11e9-9610-fb56c5522e1c_story.html |archive-date=8 April 2021 |date=11 September 2019 |url-status=live}}</ref>
In 2020, ''[[Forbes]]'' ranked him No. 359 on the Forbes 400 of the richest people in America.<ref>{{Cite web|title=Valentin Gapontsev & family|url=https://www.forbes.com/profile/valentin-gapontsev/|access-date=2020-10-13|website=Forbes|language=en}}</ref>
==Personal life== He was married, with one child, and lived in [[Worcester, Massachusetts]].<ref name="Forbes profile"/>
Gapontsev died on 22 October 2021. The cause of death is unknown, but it is known that he had cancer.<ref>{{Cite web|date=2021-10-23|title=Умер российский миллиардер Валентин Гапонцев|url=https://www.azerbaycan24.com/ru/umer-rossiyskiy-milliarder-valentin-gapontsev/|access-date=2021-10-23|website=www.azerbaycan24.com|language=ru}}</ref> The official corporate memorial encourages donations to local surgical oncology and liver and pancreas research funds.<ref>{{cite web|date=2023-01-24|title=In Memoriam: Dr. Valentin Gapontsev|url=https://www.ipgphotonics.com/in-memoriam.html|access-date=2023-01-24|website=www.ipgphotonics.com|language=en-US}}</ref>
==References== {{Reflist}}
==External links== * [https://www.researchgate.net/scientific-contributions/V-P-Gapontsev-2004688229 Published works] * [https://patents.google.com/?inventor=Valentin+Gapontsev Patents]
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{{DEFAULTSORT:Gapontsev, Valentin}} [[Category:1939 births]] [[Category:2021 deaths]] [[Category:Russian billionaires]] [[Category:American billionaires]] [[Category:Russian physicists]] [[Category:People from Worcester, Massachusetts]] [[Category:Moscow Institute of Physics and Technology alumni]] [[Category:Russian businesspeople in the United States]] [[Category:Lviv Polytechnic alumni]]