Dmitri Prokhorov was a lawyer who headed the ‘Soviet Committee of Physical Culture and Sport’ while Mikhail’s mother, Tamara, was employed as a materials engineer at … He attracted the attention of the public and the media when he contested against Vladimir Putin in the 2012 Russian presidential election, as an independent candidate. Although his stocks in several firms declined in value considerably, he capitalized on the economic downturn by exploiting his massive funds reserve to enter into strategic contracts in non-mining segments.

All of a sudden, Mikhail Prokhorov found himself sitting alone atop the list of the richest people in Russia and within a few years, as the economy recovered, his net worth grew to over $13.5 billion. He has never been married. https://www.thefamouspeople.com/profiles/mikhail-prokhorov-12102.php, Acquiring Norilsk Nickel And Modernizing The Mining And Smelting Behemoth, Establishing ONEXIM Group: A Private Investment Firm, Celebrities Who Look Beautiful Even Without Makeup, The Hottest Male Celebrities With The Best Abs. His father, one of …

His restructuring measures included retrenching the workforce, and introducing performance-oriented incentive programs to improve overall operational efficiency. Later on, he traded his holdings in Norilsk in exchange of over $5 billion in cash and a controlling stake in Rusal—the world’s largest aluminum producer.

Born: May 3, 1965.

Onexim took over Norilsk Nickel by conducting the auction in an unethical way, somewhat similar to what is known as insider trading in the present times. In April 2007, after splitting up Interros, Mikhail Prokhorov set up the ONEXIM, a private investment endowment, especially for encouraging R&D in hydrogen fuel cells and nanotechnology. He has one sibling, an elder sister, Irina. Palladium was build by Blohm and Voss to a Michael Leach …

Children: n/a. He lost the election and gained only 7.94% of vote.

In December 2011, he announced his decision to contest the 2012 presidential election against Vladimir Putin as an independent. But, he has been engaged twice. After graduating in 1989, Mikhail landed a management level job in International Bank for Economic Cooperation and stayed with the organization for three years.

The investment fund had an overall corpus of US$17 billion, the lion’s share of which came from the proceeds following the carving up of Interros. Owning a substantial chunk of Norilsk shares, they became de facto owners of the mining company. A self-established billionaire with a net worth of approximately US$8.9 billion, Mikhail Prokhorov is one of the wealthiest individuals as well as one of the most eligible bachelors in the world. The bank became the paying agent for Finance Ministry bonds and a servicing bank for the City of Moscow's external economic activities. Subsequently, he helmed the management boards of ‘MFK Bank’—an international financing firm—and the United Export Import Bank a.k.a ‘Onexim Bank’. The newly formed government was badly in need of loans and Onexim managed auctions on its behalf, where the highest bidder(s) would secure the rights to loan money.

After a few years, he founded the Onexim Bank with Vladimir Potanin, first deputy-PM of Russia, under Boris Yeltsin’s regime. He also acquired a significant stake in Russia’s foremost financial news portal-RBC. Alexander Khloponin, his college friend, and Vladimir Potanin, ex-deputy PM whom Prokhorov became acquainted with through Khloponin, also served on the management boards of MFK and Onexim banks.

More often than not, the administration defaulted on the mortgages which eventually paved the way for Onexim bank to automatically own the collateral, and technically gain control of the private firm. Dmitri Prokhorov, despite hailing from a rich kulak family, had an impoverished upbringing as parents were persecuted as class enemies under the Bolsheviks and again under Stalin. As Norilsk Nickel became a profit-making enterprise under Prokhorov’s stewardship, he channelized bulk of the profits—a whopping US$8.5 million—into establishing Polyus Gold, Russia’s biggest gold producer as a spinoff from Norilsk. Notable amongst Prokhorov’s high-profile investments during the global financial crisis was the acquisition of 50% of Renaissance Capital, a private investment bank based in Moscow, for $500 million. In May 2011, Mikhail Prokhorov joined the Russian pro-business political party ‘Right Cause’.

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