Mikhail Prokhorov

Mikhail Prokhorov
Name	Mikhail Prokhorov
Caption	Prokhorov in 2012
Birth date	1965-05-03
Birth place	Moscow, Russian SFSR, Soviet Union
Nationality	Russian, French (former)
Occupation	Businessman, politician, investor
Known for	Norilsk Nickel, ONEXIM, Brooklyn Nets

Mikhail Prokhorov is a Russian businessman, investor, and former politician known for leading industrial conglomerates, founding investment vehicles, and owning professional sports franchises. He emerged from Soviet-era elite education into post-Soviet privatization, building stakes in mining, banking, and media while engaging in electoral politics and international sports ownership. His activities have intersected with major figures and institutions across Russia, Europe, and North America.

Early life and education

Prokhorov was born in Moscow and raised during the Brezhnev and Gorbachev periods, attending the Moscow State University preparatory system before matriculating at the Moscow State University where he studied physics, a path shared by alumni of the Moscow Institute of Physics and Technology, Pavel Cherenkov-era programs, and contemporaries associated with Russian Academy of Sciences. He later continued postgraduate work and served in organizations linked to the Soviet Army and Komsomol networks, overlapping with cohorts that entered institutions such as the Moscow Institute of Steel and Alloys and the Higher School of Economics during the late Soviet and early post-Soviet transitions.

Business career

Prokhorov rose to prominence through involvement in industrial consolidation and privatization, acquiring stakes in enterprises like Norilsk Nickel through transactions that involved actors from the Russian privatization era, oligarchs associated with Roman Abramovich, Boris Berezovsky, and financiers linked to Yukos networks. He founded the investment group Onexim Group and led restructuring at companies connected to Sovkombank, Sberbank-linked projects, and metallurgical concerns with ties to Severstal and Rusal. His tenure at Norilsk Nickel entailed negotiations with executives from Interros and dealings intersecting with regulatory bodies in Moscow and ministries influenced by figures from the Duma. He also directed asset sales and purchases involving entities like Polyus Gold and engaged with international banks such as Goldman Sachs, Deutsche Bank, and Credit Suisse during cross-border financings.

Political activities and public life

Prokhorov entered electoral politics as a leader of the Civic Platform party, running in regional and national campaigns that brought him into contact with parties including United Russia, Yabloko, and figures like Vladimir Putin, Dmitry Medvedev, and Boris Nemtsov. His presidential candidacy and public commentary positioned him amid debates involving the Central Election Commission (Russia), human rights organizations such as Amnesty International and Human Rights Watch, and media outlets including RT, Kommersant, and Novaya Gazeta. He has participated in forums alongside representatives from the European Union, G20, and business councils tied to OECD delegations and has been subject to legal and political scrutiny that referenced institutions like the Investigative Committee of Russia and courts in Moscow.

Ownership of the Brooklyn Nets and sports ventures

Prokhorov acquired a controlling stake in the Brooklyn Nets from owners linked to the New Jersey Nets era, completing purchase terms coordinated with the National Basketball Association and investors such as Jay-Z-affiliated groups, leading to relocation to Barclays Center in Brooklyn, New York City. His sports portfolio expanded to include investments in Olympique de Marseille-style discussions and participation in global sporting forums like FIFA-adjacent events and meetings with executives from National Hockey League franchises and European clubs. He collaborated with sports executives and promoters associated with Adidas, Nike, and broadcasters such as ESPN and Sky Sports to develop commercial and branding strategies.

Wealth, assets, and investment activities

Prokhorov's net worth has been estimated by publications including Forbes, Bloomberg, and The Economist, reflecting holdings in mining, banking, real estate, and media through vehicles like Onexim Group and partnerships with sovereign and private funds such as Russian Direct Investment Fund-type entities and international private equity firms like Blackstone, KKR, and Carlyle Group. He has owned properties in Monaco, Paris, and New York City, engaged in art acquisitions with auction houses such as Sotheby's and Christie's, and managed portfolios involving bonds traded on exchanges including the Moscow Exchange and London Stock Exchange.

Philanthropy and cultural involvement

Prokhorov has funded initiatives in arts and education, supporting institutions comparable to the Moscow Museum of Modern Art, collaborations with orchestras such as the Mariinsky Theatre and venues like the Bolshoi Theatre, and scholarship programs linked to universities including Moscow State University and the Skolkovo Institute of Science and Technology. He established foundations and sponsored exhibitions alongside foundations like the Solomon R. Guggenheim Foundation and partnered with cultural festivals similar to the St Petersburg International Economic Forum and design events involving curators from Tate Modern and Centre Pompidou.

Personal life and controversies

Prokhorov's personal life, including marriages and family ties, has been covered by media outlets such as The New York Times, Der Spiegel, and Le Monde, and has intersected with controversies over asset disputes, corporate governance battles with figures from Norilsk Nickel and legal actions tied to business associates associated with Vladimir Potanin and Oleg Deripaska. He has been subject to media scrutiny regarding tax residency, surveillance allegations reported by publications like The Guardian and involvement in political controversies reported by Reuters and Associated Press.

Category:1965 births Category:Living people Category:Russian businesspeople Category:Russian politicians