Early Life and Education
Mikhail Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR, USSR. He graduated from the Moscow Institute of Steel and Alloys with honors in 1986, obtaining a degree in metallurgical engineering. While at university, he displayed entrepreneurial skills, working various jobs to support himself and co-founding a student discothèque.
Rise to Success
Fridman's career took off in the late 1980s. In 1988, he co-founded Alfa-Photo, and the following year, he co-founded Alfa-Eco, which later developed into Alfa Group Consortium. In 1991, he co-founded Alfa-Bank, which became one of Russia's largest private banks. His business ventures expanded into various sectors, including retail with X5 Retail Group and telecommunications through investments in Vimpelcom and other companies. Fridman's strategic moves, including the 2013 sale of TNK-BP, a joint venture with BP, significantly increased his wealth.
Key Business Strategies
Fridman's success is attributed to several key strategies. He demonstrated an ability to recognize and capitalize on opportunities in the evolving Russian economy. His approach involved diversified investments across multiple sectors, strategic partnerships, and disciplined financial management. He co-founded LetterOne (L1), an international investment company, to broaden his investment portfolio internationally.
Philanthropy
Mikhail Fridman is also recognized for his philanthropic efforts. He founded the Genesis Philanthropy Group, which supports Jewish education and cultural initiatives worldwide. He has also been a major donor to the European Jewish Fund and has supported various educational and social programs.
