Early Life and Education
Mikhail Maratovich Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR, USSR. He graduated from high school in Lviv in 1980. Fridman studied at the Moscow Institute of Steel and Alloys, graduating with distinction in 1986 with a degree in metallurgical engineering. While a student, he displayed entrepreneurial skills by washing windows and founding a student discothèque called 'Strawberry Fields'.
Rise to Success
Fridman's business career began in the late 1980s during a period of economic reform in the Soviet Union. He co-founded Alfa-Photo in 1988. In 1989, Fridman co-founded Alfa Group Consortium, which evolved into a major financial-industrial conglomerate. A pivotal moment was the co-founding of Alfa-Bank in 1991, which became one of the largest private banks in Russia. He also played a significant role in TNK-BP, a joint venture with British Petroleum, where he served as CEO for nine years. In 2013, Fridman sold his stake in TNK-BP, setting up the international investment company LetterOne (L1).
Key Business Strategies
Fridman's strategies involved identifying opportunities in emerging markets and forming strategic partnerships. He expanded into diverse sectors, including oil, banking, and telecommunications. Fridman was known for acquiring significant stakes in key companies, such as Golden Telecom and Vimpelcom. A major deal was the sale of his stake in TNK-BP for billions, which significantly boosted his wealth.
Philanthropy
Fridman is actively involved in philanthropy, supporting various causes. He is a co-founder of the Russian Jewish Congress and a major donor to the European Jewish Fund. Additionally, he founded the Genesis Philanthropy Group, which awards the Genesis Prize to recognize Jewish contributions. Fridman has also been a major funder for the Holocaust memorial project at Babi Yar in Kyiv, Ukraine.
