Mikhail Prokhorov is a Russian-Israeli oligarch, politician, and former owner of the Brooklyn Nets. In this article, we will explore Mikhail Prokhorov net worth and salary in 2023, his early life, career, personal life, and answer some frequently asked questions about him.
|Full Name||Mikhail Prokhorov|
|Popular Name||Mikhail Prokhorov|
|Birth Date||May 3, 1965|
|Birth Place||Moscow, Russia|
|Education||Moscow Finance Institute|
|Net Worth||$11.3 billion|
|Source of Wealth||Investments|
What is Mikhail Prokhorov Net Worth and Salary in 2023?
As of 2023, Mikhail Prokhorov is one of the richest people with net worth is estimated to be around 11.3 billion USD, making him one of the wealthiest individuals in the world. His fortune was primarily built through his investments in formerly state-run corporations after the collapse of the Soviet Union.
Prokhorov’s business acumen allowed him to acquire shares in these companies at significantly lower prices, leading to substantial wealth accumulation.
Why is Mikhail Prokhorov Famous?
Mikhail Prokhorov gained fame as an oligarch in Russia, referring to the group of wealthy businessmen who emerged during the country’s transition to a market-based economy.
He made headlines when he ran for the Russian presidency in 2012 as an independent candidate. Additionally, Prokhorov gained international recognition as the former owner of the Brooklyn Nets, a professional basketball team in the NBA.
Mikhail Prokhorov Overview
Mikhail Prokhorov was born on May 3, 1965, in Moscow, Russia, then part of the U.S.S.R. He grew up during a time of political and economic change, witnessing the collapse of the Soviet Union.
Prokhorov seized the opportunity presented by the privatization of state-owned assets and acquired shares in companies like Norilsk Nickel, becoming one of the world’s largest producers of nickel and palladium.
Career and Awards
Mikhail Prokhorov is a renowned Russian billionaire. He gained fame as an oligarch who amassed his wealth by purchasing shares in formerly state-run corporations following the collapse of the Soviet Union.
Prokhorov made a significant mark in the sports industry when he became the majority owner of the Nets, acquiring an 80% stake in the team on May 11, 2010. This move made him the first non-North American team owner in the NBA. He also held a 45% interest in the new Barclays Center sports and entertainment arena.
Prokhorov’s business interests are not limited to sports. He has stakes in various sectors in Russia, including power, insurance, and banking. His political career saw him running against Vladimir Putin in Russia’s 2012 presidential race, where he secured 8% of the vote.
However, his political endeavors have been met with criticism, with some claiming that his efforts and the Right Cause party were merely projects of the Kremlin.
In addition to his business and political pursuits, Prokhorov has made significant contributions to the cultural sector.
In March 2004, he founded the Cultural Initiatives Foundation as part of the Mikhail Prokhorov Foundation. The foundation is headed by Prokhorov’s elder sister, Irina, a prominent Russian publisher.
At one point, he financially supported CSKA Moscow’s basketball, hockey, and football clubs and served as president of the Russian Biathlon Union.
As of August 16, 2023, Prokhorov no longer owns the Brooklyn Nets basketball team and its home arena, having sold them to fellow billionaire Joe Tsai. Despite this, his influence in the sports, business, and political sectors remains significant. His diverse portfolio and active involvement in various fields make him a notable figure in both Russian and international circles.
While the question of awards received by Prokhorov was raised, no specific awards were mentioned in the provided context. However, his achievements in business, sports, and politics, as well as his contributions to culture, are noteworthy and speak volumes about his impact and influence.
Prokhorov once tried to acquire Villa Leopolda, a 20-acre estate constructed by Belgian King Leopold II of Belgium, from heiress Lily Safra. He had cold feet and walked away after putting down a $55 million deposit for the $750 million selling price. That means he’d have to give up his full deposit under French law. He did lose the $55 million deposit.
Prokhorov has never married, yet he has been married twice. He pledged to marry if the Nets did not win the NBA title within five years of owning the team. He withdrew the vow in July 2015, claiming that NBA Commissioner Adam Silver had “taken his place” by marrying his fiancée in May.
Social Media accounts
FAQs about Mikhail Prokhorov
How did Mikhail Prokhorov make his fortune?
Mikhail Prokhorov made his fortune by acquiring shares in formerly state-run corporations during the privatization period after the collapse of the Soviet Union.
Why did Mikhail Prokhorov sell the Brooklyn Nets?
Mikhail Prokhorov sold the Brooklyn Nets partly due to pressure from Vladimir Putin, who tests the loyalty of oligarchs with assets in the West during times of political turmoil.
What is Mikhail Prokhorov’s connection to sports?
Mikhail Prokhorov is known for his ownership of sports teams. He became the owner of the New Jersey (now Brooklyn) Nets, a National Basketball Association (NBA) team, and was also involved in Russian basketball, owning the CSKA Moscow basketball team.
Mikhail Prokhorov is a Russian-Israeli oligarch and politician who has amassed a significant fortune through his investments in formerly state-run corporations. With a net worth of approximately $14.8 billion in 2023, Prokhorov is recognized as one of the wealthiest individuals globally.
His career achievements, including owning the Brooklyn Nets and venturing into various industries, highlight his entrepreneurial spirit and business acumen. Thank you for reading.
Read more: Nasser Khalili Net Worth