Mikhail Prokhorov

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Mikhail Prokhorov (born May 3, 1965) is a Russian self-made billionaire and oligarch. He made his name in the financial sector and went on to become one of Russia's leading industrialists in the precious metals sector. He is the former chairman of Norilsk Nickel, the world's largest producer of nickel and palladium, and the current chairman of Polyus Gold, Russia's largest gold producer.

In May 2007, Prokohorov launched a $17 billion private investment fund, Onexim Group, focused on the development of nanotechnology, including hydrogen fuel cells, as well as other high-technology projects and non-ferrous and precious metals mining. One of the key areas of development is the production of materials with ultra–tiny structures used in energy generation and medicine.
In June 2007, Russian Prime Minister Mikhail Fradkov announced the formation of the Government Council for Nanotechnology, to oversee the development of nanotechnology in the country. Prokhorov was one of 15 individuals appointed to the council, which will be chaired by Russian First Deputy Prime Minister Sergei Ivanov.
Mikhail Prokhorov's net worth is currently estimated at $19.5 billion, making him the 24th richest man in the world according to Forbes magazine's list of the World's Richest People in 2008.

Mikhail Prokhorov was born on May 3, 1965, one of two children in his family. His father was a member of the Soviet sports committee and his mother was a scientist. His parents sent him to a language medium school in Moscow and then to the Moscow Financial Institute. In 1989, he graduated with a first class degree from the International Economic Relations Department of Moscow State Financial Institute. He also has an older sister named Irina.

From 1989 to 1992 he was head of the International Bank for Economic Cooperation’s Management Board. In 1993, during the largely unregulated privatization of former state-controlled industries after the fall of Communism, Prokhorov (together with Vladimir Potanin) engineered the acquisition of Norilsk Nickel by the Onexim Bank, of which he was then chairman of the board.

Mikhail Prokhorov


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