Early Life
Yuri Borisovich Milner was born on November 11, 1961, in Moscow, Russia. He was born into a Jewish family. His father was a senior director at the Russian Academy of Sciences, and his mother worked at a state-run virological laboratory. Milner earned a degree in theoretical physics from Moscow State University in 1985. He later pursued an MBA at the Wharton School of the University of Pennsylvania but did not complete it.
Rise to Success
Milner's career began with selling computers in the Soviet Union. He then worked at the World Bank before founding NetBridge in 1999. NetBridge incubated various internet businesses in Russia. In 2005, he founded Digital Sky Technologies (DST), later known as Mail.ru Group, and DST Global, which became a leading technology investor. Milner made early, significant investments in Facebook, Twitter, Spotify, and Airbnb.
Key Business Strategies
Milner's investment strategy involved identifying promising internet companies early. He often took minority stakes, shunning board seats and voting rights. His investments in companies like Facebook and Alibaba proved highly lucrative. Milner has been known for his willingness to invest in companies with high valuations.
Philanthropy
Milner and his wife, Julia, are active philanthropists, particularly in science and humanitarian causes. They co-founded the Breakthrough Prize, which awards substantial prizes for achievements in fundamental physics, life sciences, and mathematics. Milner also initiated the Breakthrough Initiatives, which include projects like Breakthrough Listen and Breakthrough Starshot, focusing on space exploration and the search for extraterrestrial life. The Milners have also supported humanitarian efforts, including aid to Ukrainian refugees.
