Mikhail Fridman Web Value | Superstar Web Value

What’s Mikhail Fridman’s Web Value?

Mikhail Fridman is a Russian-Israeli enterprise tycoon and oligarch who has a internet price of $15 billion. That makes him one of many 10 richest people in Russia. Mikhail Fridman co-founded the funding teams Alfa Group Consortium and LetterOne, and based Alfa-Financial institution, one of many largest private banks in Russia. He has additionally been concerned with such firms as TNK-BP, Vimpelcom, and X5-Retail Group, and has been a member of such public-facing entities because the Civic Chamber of the Russian Federation and the Council on International Relations.

Early Life and Training

Mikhail Fridman was born on April 21, 1964 in Lviv, Soviet Ukraine right into a Jewish household. After graduating from highschool in 1980, he attended the Moscow Institute of Metal and Alloys, the place he studied metallurgical engineering. Fridman graduated from that establishment in 1986.

Alfa Group

After graduating from school, Fridman labored as a metallurgical design engineer on the state-owned Elektrostal Metallurgical Works till 1988. He went on to ascertain a spate of his personal companies after that, together with ones for window washing, house leases, and cigarette and fragrance imports. Fridman additionally co-founded the photochemical importer Alfa-Photograph with German Khan and Alexey Kuzmichev. In 1989, he co-founded the commodities buying and selling agency Alfa-Eco and the funding agency Alfa Capital. These finally turned a part of Alfa Group Consortium, which went on to develop into one of many largest privately-owned funding teams in Russia. Alfa Group has pursuits in oil and gasoline, banking, asset administration, insurance coverage, telecommunications, and meals retail, amongst different areas. Within the early Nineteen Nineties, Fridman based Alfa-Financial institution, which grew into considered one of Russia’s largest personal banks. Because of the rising enlargement and market monopoly of Alfa Group and Alfa-Financial institution over the following years, Fridman was mentioned to be answerable for nearly all of the economic system and media in Russia.

NATALIA KOLESNIKOVA/AFP/Getty Photographs

TNK-BP

In 1997, Fridman partnered with Len Blavatnik and Viktor Vekselberg to purchase the state-owned TNK oil firm. Six years later, by their Alfa-Entry-Renova consortium, the three males partnered with the British oil and gasoline firm BP to type the three way partnership TNK-BP. The merger led to TNK-BP turning into one of many largest personal oil firms on the planet. Fridman served as chairman of the corporate for 9 years and as CEO for 3 years, stepping down in 2012. The next yr, TNK-BP was acquired by the Russian state-owned vitality firm Rosneft.

LetterOne

With the proceeds from their sale of TNK-BP, Fridman and two of his Alfa Group companions helped co-found the Luxembourg-based worldwide funding firm LetterOne in 2013. Fridman turned the corporate’s chairman. LetterOne invests in such sectors as vitality, telecommunications, and finance, with its subsidiaries together with DEA Deutsche Erdoel AG.

Different Actions

In 1996, Fridman was a founding member of the Russian Jewish Congress, a non-profit charitable fund meant to revitalize Jewish life in Russia. He’s additionally a significant donor to the European Jewish Fund and is a co-founder of the Genesis Philanthropy Group, which awards an annual prize recognizing Jewish cultural contributions. In 2014, Fridman launched an annual digital music competition known as Alfa Future Folks Competition.

In 2016, Fridman coined the time period Indigo Period to consult with an allegedly new financial period primarily based on innovation and unconventional concepts. He sits on the board of administrators of ABH Holdings and is a member of such public-facing teams because the Civic Chamber of the Russian Federation, the Russian Union of Industrialists and Entrepreneurs, and the American suppose tank the Council on International Relations.

Mikhail Svetlov/Getty Photographs

Authorized Issues and Sanctions

Fridman has faced numerous judicial challenges as a result of his corrupt enterprise dealings. These challenges peaked in 2022 following Russia’s invasion of Ukraine, with Fridman being blacklisted by the European Union and having all of his property frozen in response to the assault. He was additionally sanctioned by the UK. In late 2022, Fridman was allegedly arrested by the UK’s Nationwide Crime Company at his London residence on costs of cash laundering, conspiracy to defraud the Residence Workplace, and conspiracy to commit perjury. He was finally launched on bail. In 2023, the Safety Service of Ukraine introduced that Fridman was suspected of violating the Felony Code. The following yr, he sued the federal government of Luxembourg to contest his sanctions and demand compensation for his frozen property.

Private Life

Together with his first spouse, Olga, Fridman had two daughters named Katya and Lora. He had two extra kids along with his second spouse, Oksana. Each marriages led to divorce. Primarily based in Moscow for a few years, Fridman moved to London in 2015 and resided on the Victorian Athlone Home. He has devoted his total fortune to charity upon his passing.