Russian takeover of Worldclass in Forbes magazine

Olga Slutsker isn’t afraid to flex muscles to stay on top of Russia’s booming health club business.

Russia’s elite knows the public face of Olga Slutsker, a onetime Soviet fencing pro and now owner of the nation’s largest chain of health clubs. Details of her private life–and exactly how she muscle-built her $100 million (sales) business–are another matter. The 42-year-old Slutsker lives with her husband, Vladimir (a wealthy man in his own right from commodities and banking), and two small children on a landscaped compound in a private beach community within the city of Moscow. It’s guarded by a security team that includes a roof sniper with an automatic rifle.

“What’s clear is that Slutsker’s World Class gyms, which charge up to $5,500 a year, have nearly 30% of the high-end market and count among their members some of Russia’s wealthiest and most powerful politicians. In April 2006 she sold 50% of her company for a reported $50 million to Alfa Capital Partners, a private equity unit of Alfa Group, which is controlled by Russia’s sixth-richest man, Mikhail Fridman (net worth: $13.5 billion).