Valentin Gapontsev

Valentin P. Gapontsev (23 February 1939 – 22 October 2021) 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.

Early life Valentin Gapontsev was born in Moscow, the son of an artillery captain. The family moved to Lviv in 1946, and he spent the next 20 years there.

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.

In 1990, Gapontsev founded IPG Photonics at age 51. In a small laboratory near Moscow, he and his team invented a way to make fiber laser technology practical. His first contract was a $750,000 sale to Italtel, fulfilled by establishing IPG Laser GmbH factory in Burbach, which was employing 500 workers in 2011. 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.

In 2011, Gapontsev received the Russian Federation National Award in Science and Technology.

In 2020, Forbes ranked him No. 359 on the Forbes 400 of the richest people in America.

Personal life He was married, with one child, and lived in Worcester, Massachusetts. The official corporate memorial encourages donations to local surgical oncology and liver and pancreas research funds.