Grizzly Bulls LogoGrizzly BullsHow it WorksCalculator🚀 PremiumBlog
Log In

Grizzly Bulls’ Billionaires Index

⬅ # 234 Michael Rubin|# 236 Richard Kinder ➡

# 235 Mikhail Prokhorov 

$10.5B

Real Time Net Worth
as of 12/22/2024
-$263 (-0.00%)

# 235 Mikhail Prokhorov 

$10.5B

Real Time Net Worth
as of 12/22/2024
-$263 (-0.00%)
OccupationOwner, ONEXIM Group
Source of WealthInvestments
Age59
ResidenceFrauenfeld, Switzerland
Marital StatusSingle
EducationMaster of Economics, Moscow Institute of Finance
Age-Adjusted Net Worth$11.2B
Mikhail Prokhorov
Mikhail Prokhorov
Russia
Net worth: $10.5B

Self-Made Score 

Mido Ocean Star 600 Chronometer

Wealth History

Hover or tap to reveal net worth by year
Loading Chart

Biography

Biographical Info

Mikhail Dmitrievich Prokhorov, born on May 3, 1965, is a Russian oligarch, politician, and former owner of the Brooklyn Nets.
In April 2022, Prokhorov obtained Israeli citizenship.
Prokhorov's parents were Tamara and Dmitri Prokhorov, with a complex family history involving wealth, persecution, and migration.
He graduated from the Moscow Finance Institute in 1989.
Prokhorov entered the business world, initially working at the International Bank for Economic Cooperation and later playing key roles in Onexim Bank and MFK bank.
In 1992, at the age of 27, he partnered with Potanin to run Interros, eventually acquiring Norilsk Nickel in 1995.
Prokhorov ran as an independent candidate in Russia's 2012 presidential election, securing 8% of the vote.
He established the political party Civic Platform in June 2012.
Prokhorov's business career includes notable deals such as the sale of his Norilsk Nickel stake and the establishment of ONEXIM Group.
In 2007, he launched ONEXIM Group, a private investment fund with assets valued at $17 billion at the time.
Prokhorov sold his Norilsk Nickel stake in 2008 to RUSAL for cash, Rusal stock, and additional payment obligations.
He has investments in various sectors, including finance, nanotechnology, media, and real estate.
Prokhorov became the majority owner of the NBA's Brooklyn Nets in 2010, making history as the first non-North American team owner.
In 2018, he sold a 49% stake in the Brooklyn Nets to Joseph Tsai in a $2.3 billion deal.
Prokhorov's international investments include two private hospitals in Israel.
He is associated with the Cultural Initiatives Foundation and has supported sports, including CSKA Moscow's clubs and the Russian Biathlon Union.
Prokhorov ran into controversies, including a 2007 arrest related to arranging prostitutes at a party and a legal dispute over a forfeited deposit for a property in the French Riviera.
He was involved in Russian politics, leading the Right Cause party briefly and later the Civic Platform Party.
Prokhorov contested the 2012 Russian presidential election, gaining 7.98% of the vote.
He faced scrutiny under the Countering America's Adversaries Through Sanctions Act (CAATSA) in 2017.

Business Career

Prokhorov acquired Russian state-owned metals assets after the collapse of the Soviet Union in the controversial loans-for-shares privatization program.
His company, Norilsk Nickel, became the world's largest producer of nickel and palladium.
In 1992, at 27, he partnered with Potanin to acquire Norilsk Nickel during the privatization of former state-controlled industries.
Prokhorov's major financial success came at MFK, which became a depository institution for the government.
He played a significant role in the 'loans for shares' program, securing ownership of privatized enterprises.
Prokhorov sold his Norilsk Nickel stake in 2008 for significant returns, avoiding losses during a subsequent stock market crash.
ONEXIM Group, launched in 2007, engaged in diverse investments, including acquiring Renaissance Capital and focusing on nanotechnology projects.
In 2011, he sold a 25% plus two shares stake in Norilsk Nickel to RUSAL for cash, Rusal stock, and additional payment obligations.
ONEXIM Group sold various assets, including its stake in Uralkrali in 2016 and PJSC Quadra in 2022.
In 2018, ONEXIM Group sold 82.47% of energy company PJSC Quadra to a subsidiary of Rosatom State Corporation.

International Investments

Prokhorov owns private hospitals in Israel and is involved in international investments and patronage.
He controls Sensorium Corp, a virtual reality company.
In 2009, Prokhorov made an offer to buy the New Jersey Nets and a project to build a new arena in Brooklyn, eventually becoming the majority owner of the team.
In 2017, he agreed to sell a 49% stake in the Brooklyn Nets to Joseph Tsai, completing the sale in 2019 for an estimated $3.5 billion.

Controversies

Prokhorov faced controversies, including a 2007 arrest related to arranging prostitutes at a party.
In 2010, he forfeited a £36 million deposit on Villa Leopolda in the French Riviera.
His political efforts, particularly with the Right Cause party, faced criticism for being influenced by the Kremlin.
Prokhorov encountered issues with Putin in 2016 when his media group published reports on the Panama Papers and Putin's son-in-law's connections.
He was named in the Countering America's Adversaries Through Sanctions Act (CAATSA) in 2017.

Russian Politics

Prokhorov joined the leadership of the pro-business political party Right Cause in 2011 but resigned later, criticizing it as a 'puppet Kremlin party.'
He considered moving control of Brooklyn Nets ownership to comply with Putin's order against Russian politicians having foreign assets.
In 2016, his media group faced raids and firings after publishing articles on the Panama Papers and Putin's son-in-law.
Prokhorov led the Civic Platform Party briefly in 2012 and resigned from it in 2015.

2012 Presidential Campaign

Prokhorov contested the 2012 Russian presidential election as an independent candidate against Vladimir Putin.
He gained 7.98% of the vote and faced criticism for allegedly being a Kremlin-backed project.
Prokhorov expressed disillusionment with the electoral process.

Lawsuit Against Grigory Rodchenkov

Prokhorov financed a defamation lawsuit against Grigory Rodchenkov in 2018, related to Russia's state-sponsored Olympic doping program.
Rodchenkov countersued Prokhorov under New York's anti-SLAPP law, claiming the suit aimed to limit free speech.

Personal Life

Prokhorov has never been married but has been engaged twice.
In 2015, he rescinded a pledge to get married, citing NBA Commissioner Adam Silver's marriage.
He made headlines for personal pledges related to the Brooklyn Nets and faced controversies, including a legal dispute over a forfeited property deposit.

Mikhail Prokhorov's Wealth is Equivalent to:

8,090,839 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,988,647 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

107,415 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Mikhail Prokhorov?

If you started with $10,000 and invested an additional $500 each month at a 42.82% CAGR, it would take you 5 years to reach Mikhail Prokhorov's net worth of $10.5B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 67.72% compared to 25.94% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Mikhail Prokhorov is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Mikhail Prokhorov, Investments is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey