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Mass. residents on Forbes list of billionaires

Valentin Gapontsev & family Net worth: $1.3 billion Overall rank: 1,107 Age: 74 Residence: Worcester Gapontsev, a former professor at the Soviet Academy of Sciences, launched IPG Photonics in Moscow in 1990. The now-Oxford-based company leads the world in the manufacture of fiber lasers - a specialized technology that combines high power and exceptional precision.
Essdras M Suarez / Globe Staff
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Valentin Gapontsev & family

Net worth: $1.3 billion
Overall rank: 1,107
Age: 74
Residence: Worcester

Gapontsev, a former professor at the Soviet Academy of Sciences, launched IPG Photonics in Moscow in 1990. The now-Oxford-based company leads the world in the manufacture of fiber lasers - a specialized technology that combines high power and exceptional precision.