The Brooklyn Nets, the highest-paid club in the NBA, were formerly owned by Mikhail Prokhorov. He is a politician, oligarch, and self-made billionaire in addition. In addition, he served as the former chairman of Polyus Gold, the biggest gold producer in Russia.
He also assisted Norilsk Nickel in becoming the biggest producer of nickel and palladium in the world while he was in command of the organization. He resigned from these two roles as president of Onexim Group in 2011 to focus on a political career.
Net Worth of Mikhail Prokhorov in 2022
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According to estimates, Mikhail Prokhorov had a net worth of $14 billion as of December 2022, the majority of which he acquired through his “loans for shares” program, which allowed him to purchase shares from state-run enterprises during the breakup of the Soviet Union. Thanks to his fortune, Prokhorov is the 148th richest person in the world.
By co-founding a bank, leading Narilsk and Polyus Gold to become the largest producers of their kind, and co-founding Civic Platform, Mikhail Prokhorov has established himself as a well-known worker in the financial industry, businessman, and politician.
He is now considered a self-made billionaire because of all the achievements he has gained using cunning and clever language. Currently, he is regarded as one of Russia’s most important industrialists.
Early Life of Mikhail Prokhorov
Mikhail Dmitrievitch Prokhorov was born to Tamara and Dmitri Prokhorov on May 3, 1965. His sister, Irina Prokhorov, is older than Mikhail, the youngest son of his parents.
His father worked for the Soviet Committee of Physical Culture and Sports as an international relations specialist after receiving legal training. Tamara Prokhorov, his mother, worked at the Institute for Chemical Machine-Building as a chemical engineer.
After earning his degree in finance from the Moscow Finance Institute in 1989, Mikhail went on to work in management at the International Bank for Economic Corporation. Shortly after, he served as the MFK bank’s interim chairman of the management board.
Prokhorov and Vladimir Potanin, whom he met while working at IBEC, co-founded United Export-Import Bank. While his partner had the presidency, he functioned as chairman.
Wife and Marriage of Mikhail Prokhorov
Mikhail Prokhorov has reportedly been engaged twice, however, he has never been married. Like her, he has no children. He is currently working to promote himself as a politician, as far as we know.
Height, Weight, and age
As of 2022, Mikhail Prokhorov will be 57 years old. He was born on May 3, 1965. He stands 1.87 m tall and weighs 81 kg.
Professional Career
After the Russian government didn’t pay back a loan that UNEXIM had auctioned off by 1997, UNEXIM seized Norilsk. The ‘loans for shares’ program, which gave Prokhorov the title of oligarch and gave him and a select few others influence over the Russian economy, was born out of this loan auctioning.
This, however, did not last long, and in 1998 the government stopped making payments on the full amount. UNEXIM had also merged with another bank by the year 2000.
However, Prokhorov took over as Norilsk’s director in 2001, and during his leadership, the company became the biggest producer of nickel and palladium in the world. But in 2007, he announced his resignation, which many believed was a result of the prostitution scandal in which he had become involved.
He was, however, declared innocent by the court. He entered politics in 2011 and rose to the position of leader of Russia’s liberal Right Cause party. Then he made the decision to run for president against Vladimir Putin, the current prime minister, and former president.
He gained notoriety in 2018 after he sold Joseph Tsai, a Taiwanese Canadian billionaire, 49 percent of his ownership interests in the Brooklyn Nets. Later on, this business acquired all of Prokhorov’s interests, making him the team’s former owner.
Accomplishments and Recognition
In 2006, Prokhorov received the Order of Friendship in recognition of his efforts to increase Russia’s economic potential. Jean de Gliniasty, the ambassador of France, bestowed upon him the French Legion of Honor in 2011.
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