Gediminas Žiemelis

Most of Žiemelis' wealth is derived from his stake in the aviation industry. He has invested in multiple businesses across several different sectors and has taken five companies public. In 2010, as chairman of the board of aviation company Avia Solutions Group (ASG), he started the process of taking the company to an initial public offering (IPO). However, the IPO was postponed for one year due to what Žiemelis considered a low opening share price. In 2011, ASG became the first Lithuanian company to be listed on the Warsaw Stock Exchange. In 2013, also as chairman of the board of Avia AM Leasing (an aircraft leasing, acquisition and sales company), Žiemelis led the company to an IPO on the Warsaw Stock Exchange. In 2014, Žiemelis launched international duty-free operator Globus Distribution with partner ŽIA valda. In 2017 he established the pharmaceutical holding company Pharnasanta Group. As of 2024 he is no longer associated with the company.