Russian billionaires are a famously footloose bunch. Most make their money in an Arctic oilfield or a Siberian mine, but settle in leafy Chelsea, the south of France or downtown Moscow. Viktor Rashnikov, whom Forbes magazine ranks as the world’s 73rd richest man with assets of £10bn, is different.

The owner of Magnitogorsk Iron & Steel Works (MMK) has made his home amid the sprawling 50 sq km of pipes, blast furnaces and smokestacks in the southern Ural mountain town where he grew up and which houses Russia’s largest steel mill.