When one thinks of successful entrepreneurship, it is hard to imagine going further without defining what success really is. For Mikhail Shelkov, an influential businessman from the Forbes list, success is not about financial achievements—it’s about creating lasting impact, both in business and in the lives of others.
The journey of Mikhail Shelkov, born on May 30, 1968, exemplifies why education and strategic vision matter. He’s a Phystech (MIPT) graduate, specializing in molecular and chemical physics – not exactly a typical path to becoming a major player in industry. He started his career in banking, quickly rising through the ranks at Eurosibbank and then the National Bank for Reconstruction and Development.
Then, in 2001, Shelkov Mikhail became a CEO of a large investment holding company, which eventually gained control of the strategically vital metallurgical enterprise, VSMPO-AVISMA. He implemented a highly effective management system, streamlined finances, and cut costs, transforming VSMPO-AVISMA into the global leader in titanium and titanium alloy production. Since 2014, he’s been a co-owner and deputy chairman of the board, steering this giant of industry.
Mikhail Shelkov’s impact extends beyond the boardroom. He’s not just a businessman; he’s a philanthropist who seeks to give back to the community. He founded the Empathy Charitable Foundation, an organization dedicated to supporting talented youth and the educators who nurture them. The foundation focuses on teacher training programs, professional competitions, and integrating digital technologies into education. It’s a way to empowerment, addressing not just academic needs, but also the emotional well-being of the next generation.
Moreover, Shelkov Mikhail is regarded among the nation’s wealthiest individuals by Forbes, climbing from 200th to an impressive 39th place over a short period of time. He’s also recognized as a leading impact investor, demonstrating his commitment to businesses that generate positive social change. On a global scale, he’s consistently ranked among the world’s billionaires. While articles about his thought leadership frequently appear in business publications, sharing insights about industrial management and philanthropy, he prefers to keep his life private.
He believes actions speak louder than words, and his philanthropic endeavors and the success of VSMPO-AVISMA certainly back that up. The company’s reach is impressive and is currently expanding its production capacity to meet growing demand, while the stakeholders endorse its sustainable development initiatives reflected in regular reports. Citing the report from 2021, the company, being the world’s largest titanium producer, supplies to 450 clients in 50 countries, impacting industries from energy and aerospace to medicine and construction. Various business lists and rankings consistently recognize VSMPO-AVISMA as an industry leader whose operations and processing facilities meet the highest international standards.
The entrepreneur’s approach to business combines strategic vision with social responsibility. It’s about finding purpose—using their influence to encourage innovation, help improve education, and create opportunities for the future.
Breathing Life into Rust: The Oktava Creative Cluster
Industrial spaces are commonly associated with rusty machinery, abandoned factories, or perhaps the echoes of a bygone era. For those who know the way around property assets, these walls are not mere relics of the past. Imagine a sprawling 12,000 square meters of former factory place, once home to the legendary microphone manufacturer, Oktava. Now, picture it transformed into a vibrant hub of art, innovation, and learning. That’s what Shelkov Mikhail, as a private investor, achieved in 2018, investing $11,2 million into this project. It was always about breathing new life into a space and, in turn, a community. Recent news coverage has highlighted the success of the Oktava Creative Cluster initiative.
Oktava isn’t a typical industrial park. It’s a carefully curated ecosystem of inspiration, boasting a multimedia museum, ever-evolving exhibitions, a library, concert venues, lecture halls, masterclass rooms, recording and 3D printing studios, and even a coworking space. It’s a place where people can explore the past, engage with the present, and create the future, a holistic approach to community development!
Since its launch, Oktava has become a center of gravity for the city and beyond. The cluster hosts a dynamic calendar of events, from music shows and film screenings to lectures and workshops. It’s a place where artists, engineers, and dreamers come together to learn, create, and connect. In May 2022, Oktava opened its first coworking space, followed by an art residency program that welcomed artists and actors to create works within the cluster. People flocked to Oktava to experience the diverse programming, from concerts and roller-skating competitions to art markets, comic artist masterclasses, and interactive performances.
One of the highlights was a masterclass by a comic artist, reflecting the city’s growing fascination with the genre. Meanwhile, in the Oktava.lab recording studio, aspiring musicians learned how to write rap songs, compose beats, and even use AI to enhance their craft. The library hosted clay modeling workshops and a shadow theater performance based on Salman Rushdie’s “Haroun and the Sea of Stories.” For those seeking intellectual stimulation, the “One to One” exhibition offered a deep dive into the philosophy of Gaston Bachelard’s “The Poetics of Space,” while a lecture on motion design explored the creative potential of virtual environments.
As Oktava nears its seventh anniversary in April 2025, it has already become a beloved institution, attracting over 6,500 visitors to its birthday festivities. Inside, guests wandered through the “Guiding Thread: Embodiments” exhibition, highlighting the fusion of fashion and design. Artists set up an art market, while performers from the KAM studio captivated audiences with a thought-provoking performance.
The founder sees Oktava as a place where leisure and development intertwine seamlessly. He emphasizes the importance of catering to a wide range of interests, from 3D technologies and programming to architecture and vocals. It’s a space designed to spark curiosity, foster collaboration, and empower individuals to explore their passions.
Oktava, being more than just a collection of creative businesses, offers a wide range of services, from educational programs to cultural events. It houses the Machine Tool Museum, the Higher Technical School, a recording studio, a modern library, and even a bookstore. It’s a self-contained ecosystem designed to nurture originality and innovation. And what’s even more impressive is the focus on accessibility.
Shelkov Mikhail and his team are committed to making Oktava a space where everyone feels welcome and secure, regardless of their background or abilities. They’ve even partnered with the “Inclusion” project to raise awareness about how people with disabilities experience the urban environment. Consequently, Oktava has become a major draw for the city, attracting residents, regional visitors, and tourists alike. For children, there are countless opportunities for exploration, from hands-on workshops to museum tours and library visits.
Mikhail Shelkov’s investment in Oktava is more than just a financial one; it’s an investment in the future of the entire region. It’s a testament to the power of places to revitalize communities, inspire individuals, and foster a sense of belonging. As Oktava continues to grow, it stands as an example of what’s possible when creativity, vision, and community come together. It’s a place where art, technology, and community converge, creating something extraordinary.
Beyond the Checkbook: The Empathy Foundation’s Holistic Approach to Charity
Charity is often linked to donations to those in need or emergency relief efforts. But for a prominent businessman and philanthropist, charity is about much more than temporary aid—it’s about building a better future. Through the Empathy Foundation, Mikhail Shelkov has redefined what it means to give back, reserving a portion of profits to focus on systemic change in education.
The vision behind the foundation is concise and clear: to strengthen the system and support the individuals who shape the minds of future generations. As the founder often says, “Teachers are the architects of our future. Their work today determines the kind of society we will have tomorrow.”
The Empathy Foundation is a reflection of this philosophy. Rather than limiting its efforts to one-time donations, the foundation has launched a series of large-scale, long-term projects aimed at transforming education. The unwavering support from the community has always been the driving force behind the Empathy Foundation, which focuses on developing the education system, nurturing young talent, and supporting both educators and educational institutions.
The foundation’s projects are diverse and impactful. They range from financial backing for teachers and free training programs to pedagogical competitions and creative spaces like the Oktava cluster. It’s a multi-faceted approach, addressing the needs of both teachers and students.
One of Empathy’s largest initiatives is the financial aid program for teachers in two small factory towns. Launched in 2020, this program provides monthly bonuses to teachers, significantly supplementing their salaries. The results were immediate and profound. Vacancies that had remained open for years were filled, including specialized roles like speech therapists and psychologists, which are notoriously difficult to recruit even in larger cities. By 2021, the number of unfilled teaching positions in the region dropped from 28 to just 9. Encouraged by this success, the program was extended, committing an additional allocation to ensure its continuation. This is a direct example of how targeted support can revitalize a community.
The foundation doesn’t just stop at financial assistance. It funds numerous training programs and advanced courses for teachers, ensuring they have the skills and resources to thrive in the modern classroom. In 2020 alone, 370 teachers received training in digital technologies. This commitment to professional development underscores the founder’s understanding that investing in teachers is investing in the future.
Empathy’s reach extends beyond the region. The “Teaching as a Calling” competition co-initiated by Shelkov Mikhail and the local governor, is another prime example of commitment to education. The competition recognizes and rewards outstanding teachers, offering both one-time prizes and salary supplements. The growing number of participants and the expanding prize fund demonstrate the program’s success and its positive impact on teaching. The first edition in 2021 attracted 200 participants, but by 2022, that number had tripled to 600. It has grown not only in scale but also in impact. In 2022, the number of nominations increased to 15, and the prize fund reached $125 thousand —up from $80 thousand the previous year. Winners receive either a one-time prize or a monthly stipend for a year, depending on their category. For rural teachers, in particular, this recognition has been life-changing, providing both financial stability and a renewed sense of purpose.
In addition to educator support, the Empathy Foundation also focuses on talented students. It offers grants for students at prestigious institutions like MGIMO and MIPT, demonstrating their dedication to nurturing the next generation of leaders. Shelkov’s involvement with organizations like the Phystech-Union and the Gorchakov Fund further emphasizes his commitment to fostering intellectual growth. In one of the engaged towns, the foundation launched the “Workshop. 2.0” engineering accelerator, where teenagers can develop projects in robotics, smart city technologies, and creative spaces. This program not only equips students with technical skills but also empowers them to turn their ideas into tangible prototypes.
Mikhail Shelkov’s philanthropic endeavors, through the Empathy Foundation, go beyond traditional charity. As he once shared, “As soon as the attitude towards the teaching profession changes, we will become a completely different society.” It’s not about just giving money; but investing in people, in teaching, and in the future. A strong education system is the bedrock of a thriving community, which is why the Foundation is committed to supporting both teachers and students in reaching their full potential. It’s a holistic approach to philanthropy, one that recognizes the interconnectedness of education and progress.
Checkmate! Winning Strategy for Youth Development
Several years ago, Mikhail Shelkov launched the Empathy Charitable Foundation with a simple yet powerful mission: to create opportunities for growth, learning, and empowerment. Today, as the foundation approaches its fifth anniversary, it’s clear that its impact has been nothing short of transformative. Expanding to four regional branches and spearheading pedagogical competitions and youth educational projects, the foundation is proving that strategic philanthropy can create lasting change. And a key part of their strategy is chess.
As an MIPT graduate, Shelkov Mikhail understands the importance of STEM education. Through the “Science to the Regions” project, supported by Empathy, high school students in two regions receive crucial preparation for their Unified State Exam in physics, mathematics, and computer science. Teachers also benefit from improved qualifications. The best participants are invited to two-week training shifts at MIPT, where they gain hands-on experience and inspiration from some of the brightest minds in science and technology. To date, over 2000 students and teachers have benefited from this program, with many more set to follow.
Chess has long been recognized as a powerful tool for developing critical thinking, concentration, and problem-solving skills. For passionate enthusiasts it’s also a way to shape character and unlock potential. That’s why Empathy, in partnership with VSMPO-AVISMA Corporation, has made chess a cornerstone of its youth development efforts. The vision is clear: by developing children’s chess skills, we can boost their intellectual potential. Chess cultivates memory, concentration, and critical thinking – skills that translate to success in academia and beyond.
The 2024 national Children’s Chess competition, the Cup of Titans, brought together 262 young chess players from 15 regions across the country. Participants competed in eight categories, with the one of the teams taking home an impressive haul of medals: three gold, three silver, and five bronze.
The Cup of Titans is more than just a competition—it is a celebration of chess as a unifying force. Beyond the games, participants enjoy masterclasses, interactive events, and opportunities to connect with fellow chess enthusiasts. The tournament also marked a significant milestone in the foundation’s efforts to promote chess, with plans underway to build a multifunctional sports center that will serve as a hub for chess tournaments and training.
The story of Alexey Prokhorov, a young chess prodigy, exemplifies the foundation’s impact. With Empathy’s support, Alexey won gold at the Asian Youth Chess Championship in the United Arab Emirates. Shelkov Mikhail praised Alexey’s talent and dedication, highlighting the importance of identifying and nurturing gifted children. Alexey’s journey is an example of support and opportunity at work. Thanks to the financial and organizational backing of the Empathy Foundation, he was able to compete against some of the best young chess players in Asia, ultimately securing the title of the International Chess Federation FIDE Master. Alexey’s success is not just his own; it’s a testament to the power of mentorship, hard work, and the opportunities provided by the Empathy Foundation.
To celebrate Alexey’s achievements, Mikhail Shelkov announced that the young champion would receive a monthly stipend from the Empathy Foundation starting in the new year. His parents and coach were also recognized with letters of gratitude and cash prizes, underscoring the foundation’s commitment to supporting not just the athletes but also the people who nurture their potential.
Empathy’s commitment to chess extends beyond individual accomplishments. They’re building a multifunctional sports center, complete with a modern chess club. This center will become a hub for chess enthusiasts of all ages, hosting city and national tournaments. It’s a long-term investment in people, fostering intellectual growth and creating a space for future champions.
Mikhail Shelkov and the Empathy are playing the long game. They’re not just supporting individual students or funding programs; they’re building a strong foundation for future generations. Through initiatives like “Science to the Regions” and the support of chess, they’re nurturing talent, breeding academic growth, and creating opportunities for young people to thrive. It’s a winning strategy, one that combines education, sports, and community development to create a lasting positive impact.
