How Did Mikhail Prokhorov Make His Money?

Mikhail Prokhorov’s Profile Summary

Company	ONEXIM Group
Position	President
Source of wealth	Metals industry, investments
Also known as	Russian businessman
Age	61
Education	Moscow Finance Institute: Degree in International Economic Relations
Citizenship	Russian
Residence	Moscow, Russia
Family	Unmarried, no children
Website, Social Media	https://www.onexim.ru/en/

Biography

Mikhail Dmitrievich Prokhorov, born on May 3, 1965, in Moscow, Russia, is a prominent Russian businessman and politician. He graduated from the Moscow Finance Institute in 1989, specializing in international economic relations. Prokhorov began his career at the International Bank for Economic Cooperation (IBEC) before co-founding Interros, a holding company, with Vladimir Potanin in 1992. Through Interros, they acquired Norilsk Nickel in 1995, transforming it into the world's largest producer of nickel and palladium.

In 2007, Prokhorov established ONEXIM Group, a private investment fund with diverse interests in sectors such as mining, finance, nanotechnology, and media. He served as the chairman of Polyus Gold, Russia's largest gold producer, and held significant stakes in various companies, including Rusal and Quadra.

Beyond his business ventures, Prokhorov ventured into politics, running as an independent candidate in the 2012 Russian presidential election, where he secured approximately 8% of the vote. He also founded the political party "Civic Platform" in June 2012.

Prokhorov expanded his international presence by acquiring a majority stake in the NBA's Brooklyn Nets in 2010, becoming the first non-North American owner of an NBA team. He sold his stake in the team in 2019.

As of December 2021, his net worth was estimated at $14 billion, ranking him among the wealthiest individuals globally.

How did Mikhail Prokhorov make money?
Mikhail Prokhorov's ascent to billionaire status is rooted in the tumultuous economic landscape of post-Soviet Russia. After graduating from the Moscow Finance Institute in 1989, he began his career in banking, notably at the International Bank for Economic Cooperation (IBEC). It was here that he met Vladimir Potanin, a pivotal connection that would shape his future endeavors.

In 1992, Prokhorov and Potanin co-founded Interros, a holding company designed to acquire and manage assets in the rapidly privatizing Russian economy. Their most significant acquisition came in 1995 when they secured a controlling stake in Norilsk Nickel, one of Russia's largest nickel and palladium mining and smelting companies. Under their stewardship, Norilsk Nickel was transformed into the world's leading producer of nickel and palladium, generating substantial profits and solidifying Prokhorov's status as a leading industrialist.

In 2007, Prokhorov sold his stake in Norilsk Nickel to Rusal, receiving cash, Rusal stock, and additional payment obligations in return. This strategic divestment allowed him to establish ONEXIM Group, a private investment fund with assets valued at $17 billion at the time. ONEXIM diversified Prokhorov's portfolio, encompassing sectors such as finance, nanotechnology, media, and real estate.

Prokhorov's business acumen extended beyond Russian borders. In 2010, he became the majority owner of the NBA's Brooklyn Nets, making history as the first non-North American team owner. He sold his stake in the team in 2019, further augmenting his wealth.

As of December 2021, Prokhorov's net worth was estimated at $14 billion, reflecting his strategic investments and successful navigation of the post-Soviet economic landscape.
What is Mikhail Prokhorov net worth?

As of 2026, Mikhail Prokhorov’s net worth is estimated to be 10.7 billion USD.

What is Mikhail Prokhorov also known as?

Mikhail Prokhorov is recognized as a Russian billionaire entrepreneur and politician, notable for his leadership in the metals industry, ownership of the Brooklyn Nets basketball team, and his candidacy in the 2012 Russian presidential election.

Prominent achievements

Mikhail Prokhorov transformed Norilsk Nickel into a global leader in metals production, established ONEXIM Group as a diversified investment firm, and became the first non-North American owner of an NBA team with the Brooklyn Nets. He has also made notable contributions to Russian politics and philanthropy.

What are Mikhail Prokhorov’s key insights?

Prokhorov emphasizes strategic diversification, identifying emerging opportunities in various industries and investing in high-growth sectors to build long-term value.

Personal life

Mikhail Prokhorov was born to Dmitri Prokhorov, a senior official in the Soviet sports committee, and Tamara Prokhorova, a materials engineer. He has an older sister, Irina Prokhorova, who is a noted literary critic and publisher. Despite being engaged twice, Prokhorov has never married and has no children.

Useful insights

Advanced investment strategies

For those who have mastered the basics, the next step is exploring advanced investment strategies. These books delve into the complexities of portfolio management and alternative asset classes, offering sophisticated approaches to building wealth.

David Swensen - "Pioneering Portfolio Management"
- Summary:
  
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  Swensen’s methods are widely regarded as groundbreaking and have been adopted by many large institutional investors. His book is essential for anyone looking to build a robust, diversified portfolio with a focus on steady, long-term growth.
Joel Greenblatt - "The Little Book That Still Beats the Market"
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  Greenblatt presents a simple yet effective formula for investing in value stocks. His "magic formula" identifies companies that are both undervalued and have high earnings yields, providing a clear strategy for beating the market. Greenblatt simplifies complex financial concepts for individual investors, making the book accessible to both beginners and experienced traders.
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