Yuri Gushchin was born in Moscow, Russia, Russia. Yuri Gushchin is #1963 in List Billionaires People In The World. During the Soviet era, Yuri Gushchin was an underground producer of consumer goods, particularly candy. Then during Perestroika he became one of the first businessmen to legalize those operations. In 1991 he founded Guta-Bank Moscow. After the 1998 Russian financial crisis, Gushchin bought a controlling stake in Moscow's biggest confectionery factories and created United Confectioners. He leases out buildings near the Kremlin that used to belong to candy company Krasny Oktyabr (Red October). Tenants include billionaire Mikhail Prokhorov's Snob magazine, former billionaire Mikhail Abyzov's Digital October educational center, and billionaire Alexander Mamut's Strelka Institute for Media, Architecture and Design. He owns a luxury hotel on the Seychelles called Savoy Resort and Spa.