Mikhail Fridman is a man who runs big businesses.
He helps run many large banks. He also helps run stores that sell food. He works very hard. Do you like to help run things too?
Mikhail Fridman is a very wealthy man.
He was born in a place called Ukraine.
He started many big companies. One was a large bank. He also helped run an oil company.
He also helped run food stores. These stores sell many things to people.
He used his money to start a new group. This group helps invest in big projects.
He has worked in many different ways. He is a very famous businessman.
Mikhail Fridman is a very successful businessman.
He was born in 1964 in Ukraine. He studied at the Moscow Institute of Steel and Alloys. He graduated in 1986.
Fridman helped start many big companies. In 1991, he co-founded Alfa-Bank. This is one of the largest private banks in Russia. He also helped start Alfa Group. This large group owns many different businesses. They work in banking, oil, and phone services.
He worked with a big oil company called TNK-BP. He was its leader for several years. In 2013, he helped start a new group called LetterOne. This is an investment company. It helps fund big projects in many places.
Fridman has been very rich. In 2025, his wealth was about $13.3 billion. He has faced many changes in his life. In 2022, the EU put sanctions on him. These are rules that limit what he can do. He stepped down from some jobs to help his companies. He has fought these rules in court.
Mikhail Fridman is a very successful businessman.
He was born on April 21, 1964, in Lviv, Ukraine. He grew up in the Soviet Union. During his school years, he worked many different jobs. He once washed windows to earn money. He even helped run a student discotheque called Strawberry Fields. He also led students who waited in lines for theater tickets. They used those tickets like money to trade for other goods. He studied at the Moscow Institute of Steel and Alloys. He graduated with honors in 1986.
Fridman built many large companies from the ground up. In 1988, he started several small businesses with college friends. They sold used computers and imported things like perfume. He also co-founded Alfa-Photo in 1988 to import photography chemicals. Later, he helped start Alfa-Eco and Alfa Capital. These companies grew into a huge group called Alfa Group. In 1991, he used $100,000 of his profits to co-found Alfa-Bank. This became one of the largest private banks in Russia.
His business work involves many different industries. Through Alfa Group, he helped run food stores called X5 Retail Group. He also worked in the phone and internet business. His company, Altimo, owned parts of companies like MegaFon and Vimpelcom. Fridman also spent many years working in the oil industry. He was a leader at a big company called TNK-BP. He served as its chairman for nine years. In 2013, he and his partners sold their part of that company. They received $28 billion from that sale.
After selling his oil business, he started something new. In 2013, he co-founded an investment company called LetterOne. He worked with partners Petr Aven and Andrei Kosogov. They also started L1 Energy to invest in oil and gas. In 2015, L1 Energy bought a company called DEA for $7 billion. This company is based in Hamburg, Germany.
Fridman has been one of the richest people in Russia. In 2013, Forbes said he was the second-richest Russian with $16.5 billion. By 2023, his wealth was $12.6 billion. In February 2025, his wealth was about $13.3 billion. He has faced hard times recently due to world events. In 2022, the EU put sanctions on him. These are rules that limit what people can do. He stepped down from his leadership roles to help his companies avoid these rules.
Mikhail Maratovich Fridman is a prominent Russian-Israeli tycoon and oligarch.
Born on April 21, 1964, in Lviv, Ukraine, he has become one of the most influential figures in Russian business. He is best known as a co-founder of Alfa-Group, a massive multinational conglomerate. This group holds interests in many different industries, such as banking, telecommunications, and retail. Throughout his career, Fridman has managed vast amounts of wealth and large-scale international investments. His financial status has fluctuated over the decades due to global market changes and political shifts.
Fridman's journey began with a focus on engineering and early entrepreneurship. He attended the Moscow Institute of Steel and Alloys, graduating with distinction in 1986. While studying, he held various jobs, including washing windows. He even co-owned a student discotheque named Strawberry Fields. He also led a group of students who bartered theater tickets for rare goods. After graduation, he worked as a metallurgical design engineer at the Elektrostal Metallurgical Works. However, the opening of the Soviet economy in the late 1980s led him toward business. In 1988, he started several small ventures with college friends. These included selling used computers and importing perfumes and cigarettes.
These small businesses eventually evolved into the Alfa Group Consortium. In 1988, Fridman co-founded Alfa-Photo to import photography chemicals. By 1989, he helped found Alfa-Eco and Alfa Capital. These companies grew rapidly and became part of a larger industrial conglomerate. In January 1991, Fridman used $100,000 of his profits to co-found Alfa-Bank. This institution grew to become one of the largest private banks in Russia. The Alfa Group expanded into many sectors, including the X5 Retail Group, which is Russia's largest food retailer. The group also managed Rosvodokanal, a private water utility, and AlfaStrakhovanie, an insurance company.
Fridman also played a major role in the telecommunications and energy sectors. His company, Altimo, managed various holdings like MegaFon and Vimpelcom. He spent years navigating complex ownership disputes and mergers in the telecom industry. In the energy sector, Fridman participated in the purchase of the Tyumen Oil Company (TNK) in 1997. In 2003, this led to the creation of TNK-BP, a joint venture with the British company BP. TNK-BP became the third-largest oil producer in Russia. Fridman served as the chairman for nine years and as CEO for three years. In 2013, the company was sold to the state-owned Rosneft for $56 billion. Fridman and his partners received $28 billion from this massive sale.
Following the sale of his oil interests, Fridman moved toward international investment. In 2013, he co-founded LetterOne (L1), an international investment company headquartered in Luxembourg. He worked alongside co-founders Petr Aven and Andrei Kosogov. LetterOne was designed to invest in energy, telecoms, finance, and technology globally. As of late 2013, the company managed $29 billion in assets. They also formed L1 Energy to focus on international oil and gas assets. In 2015, L1 Energy acquired the German company DEA from RWE for $7 billion.
This move helped expand their presence in the European energy market.
Fridman's wealth has been tracked closely by organizations like Forbes and Bloomberg. In 2013, Forbes ranked him as the second-richest Russian with $16.5 billion. By 2023, his net worth was estimated at $12.6 billion. According to the Bloomberg Billionaires Index, he had $13.1 billion in February 2024. As of February 6, 2025, Forbes listed his net worth at $13.3 billion, ranking him #150 globally. These figures highlight his significant impact on the global economy. His ability to navigate financial crises, such as the 1998 Russian ruble crisis, helped preserve his capital.
Recent years have brought significant legal and political challenges for Fridman. In 2022, the European Union imposed sanctions on him following the Russian invasion of Ukraine. Fridman denied the allegations, calling them false and defamatory. To protect his companies from these sanctions, he stepped down from the boards of LetterOne and Alfa Group. He has also filed lawsuits to challenge these sanctions in 2022. In December 2022, reports emerged regarding a detention in London involving a wealthy Russian businessman. The National Crime Agency later closed its investigation into the matter in September 2023. By October 2023, Fridman reportedly announced his intention to return to Russia.
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