Mikhail Prokhorov

Early Life and Education

Mikhail Dmitrievich Prokhorov was born in Moscow, Russia, on May 3, 1965. His father was a lawyer, and his mother was an engineer. He graduated from the Moscow Finance Institute in 1989 with a degree in international economic relations.

Rise to Success

Prokhorov's business career began in the early 1990s. He partnered with Vladimir Potanin to form Interros, a holding company. In 1995, they acquired Norilsk Nickel, a major nickel and palladium producer, during the privatization of state-owned industries. Prokhorov served as Chairman of the Board of Norilsk Nickel from 1996 to 2007. During his tenure, he oversaw the conversion of Norilsk's gold-mining interests into Polyus Gold, Russia's largest gold producer. In 2007, he exited Interros and launched the private investment fund ONEXIM Group.

Key Business Strategies

Prokhorov focused on acquiring assets during Russia's privatization wave in the 1990s. His leadership in Norilsk Nickel was key to his early success. He diversified his investments through ONEXIM Group, including investments in nanotechnology, media, and real estate. His strategy included investing in the Brooklyn Nets, making him the first non-North American owner of an NBA team.

Philanthropy

Prokhorov established the Mikhail Prokhorov Foundation in 2004, which supports cultural initiatives. The foundation focuses on projects in arts, science, education, media, urban environments, sports, and public health.